Should we use GLP by GMX as our treasury asset?

GMX is a derivates DEX, already handled about 30 Billion USD trading volume. For liquidity, GMX is using GLP.

GLP represents a mix of 50% blue chips (BTC, ETH, LINK) and 50% stable coins (USDC, USDT, DAI), the APY is currently at circa 50%.

If passed, Hydranet will use GLP as its main store of value in the treasury, and yield from that asset will go to support Protocol Owned Liquidity.

Pros:

• gaining high Yield in ETH & esGMX (ca 50% per year), therefore having the possibility to increase the budget for team, marketing and POL
• building a connection to one of the biggest projects in the Arbitrum ecosystem

Cons:

• smart contract risks (some malicious actor could be successful and drains their reserves; however the code is audited, currently having ~250 M USD as TVL)