Proposal to Transfer USDC and GMX tokens to GMX-Solana for Initial Liquidity Provision

Summary This proposal outlines a plan to establish a bridge for transferring GMX and USDC from the GMX DAO treasury to GMX-Solana. The goal is to provide significant initial liquidity, enhance the GMX ecosystem's cross-chain presence, and improve token accessibility and trading efficiency on the Solana network.

The proposal initially requested the GMX DAO to allocate and lock $50,000 in USDC and $50,000 worth of GMX for a minimum of two years to seed the GMX-USDC liquidity pool. However, based on community feedback, there is interest in increasing this initial liquidity amount to maximise impact. As such, the following options are proposed for consideration:

. Option A: Don't support . Option B: $50,000 in USDC and $50,000 worth of GMX . Option C: $100,000 in USDC and $100,000 worth of GMX . Option D: $200,000 in USDC and $200,000 worth of GMX

Motivation After nearly seven months of continuous development for GMX-Solana and with the audit now in place, GMX-Solana is approaching its launch. This presents a significant opportunity for GMX to expand into the Solana ecosystem. To support this integration, liquidity seeding efforts on GMX-Solana’s GMX-USDC pool will help establish initial liquidity and help boost ecosystem growth.

Providing liquidity in USDC and GMX to the GMX-USDC pool of GMX-Solana will establish robust launch liquidity, creating an accessible market for users on Solana. This early support is crucial for driving protocol adoption for GMX-Solana, enhancing trading and liquidity options on Solana, and solidifying GMX’s position within the Solana ecosystem.

Specification

1. Bridge Setup: . Establish a secure and efficient bridge for GMX between Arbitrum, Avalanche, and Solana. . Collaborate with reliable bridging solutions like Wormhole and Layerzero to enable seamless transfers, ensuring low latency and high security. . GMX-Solana will utilise the bridged token standard decided by the GMX DAO

2. Liquidity Provision: . Allocate liquidity in USDC and GMX to seed the initial liquidity for the GMX-Solana GMX-USDC pool. . This provision will create a robust liquidity base, facilitating efficient trades and attracting Solana-based users to GMX.

3. Funding Allocation: . The funds will be held in the GMX-USDC vault on Solana. . GMX DAO will oversee and periodically review liquidity performance, ensuring alignment with GMX’s liquidity objectives.

Conclusion This proposal offers a strategic approach to broadening GMX’s multi-chain presence, increasing accessibility for Solana-based users, and strengthening the DAO’s long-term growth objectives.

By establishing a reliable bridge and seeding liquidity on GMX-Solana, the GMX DAO will drive protocol adoption for GMX-Solana and build a strong liquidity foundation in the Solana ecosystem for GMX.