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Reverse ProtocolReverse Protocolby0xC13D06194E149Ea53f6c823d9446b100eED37042rvrsprotocol.eth

Take GMX Profits

Voting ended about 3 years agoSucceeded

GMX is on a burner right now and we have 109.52 GMX burning a hole in our pocket.

We're currently making about 10% on it having it staked. 2% of that is from multiplier points we've earned by not withdrawing any of our staked supply. We will lose this if we unstake, but that's not the end of the world considering we will be putting up a proposal soon to migrate off of Avalanche with most of our GLP anyway, so that MP is lost either way. Great time to take profits on GMX that has served us well all year!

We can always buy more GMX on a dip, or keep earning more GMX through staking GLP (all of this was earned from staking).

This prop is to set the min price we want to dump this GMX.

It recently topped $70, but there's no guarantee it'll head back up that way before dumping further. This prop is just to set a limit order price and the team will monitor and sell when appropriate based on this approval from the community. Prior to this last pump, it was considered anything over $50 was a 'sell' for GMX trading. So let's decide how greedy we are!

Off-Chain Vote

$70
724K RVRS91.5%
$60
57.62K RVRS7.3%
$50
8.82K RVRS1.1%
Don't Sell
639.94 RVRS0.1%
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Discussion

Reverse ProtocolTake GMX Profits

Timeline

Feb 03, 2023Proposal created
Feb 03, 2023Proposal vote started
Feb 06, 2023Proposal vote ended
Oct 26, 2023Proposal updated