Summary

This proposal transfers 3,000,000 USDC from the GMX DAO treasury to the GMX POL Multisig (0xc6378dDF536410c14666DC59BC92b5EBC0F2F79E) as the first tranche of the $10M market making fund announced in GMLabs-001.

Background

GMLabs-001 established a $10M market making fund for the GMX token, funded from the treasury. The fund uses the protocol's combined Open Interest across all chains as its reference: buyback-focused when GMX circulating market cap is below combined Open Interest, liquidity provision when at or above.

This proposal executes the first tranche so the fund can begin operating. The remaining $7M will be requested in subsequent tranches based on operating results.

Specification

• Amount: 3,000,000 USDC (native USDC on Arbitrum)
• From: GMX DAO treasury
• To: GMX POL Multisig, 0xc6378dDF536410c14666DC59BC92b5EBC0F2F79E (4-of-6)
• Operator: GM Labs, under the rules set out in GMLabs-001

Reporting

GM Labs will publish a quarterly report covering fund balance, GMX acquired, and liquidity deployed.

Voting

• For: transfer 3,000,000 USDC to the GMX POL Multisig
• Against: do not transfer