GMX, an on-chain perpetual and spot exchange, has proposed a new revenue distribution model for its GMX token. This proposal, announced on July 31, aims to enhance the long-term value of the GMX token.
The new model, ‘Buyback GMX and Distribute GMX’, will replace the current system of buying back and distributing Ethereum (ETH). This change is expected to preserve real-yield advantages for users.
Key features include a daily allocation of a seventh of fees for GMX buybacks, with a premium gradually increasing from 0% to 5%. GMX ranks 45th in revenue among blockchain chains, competing with dYdX and Jupiter Perpetual Exchange.
