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GMX DAO to Purchase $110,000 in GT Monthly from GMXSOL

The move aims to bolster ecosystem growth and speed up GT issuance following increased minting costs in September.

GT

Summary

GMX DAO has approved a proposal to acquire $110,000 worth of GT from GMXSOL each month to enhance ecosystem expansion and accelerate the issuance of GT tokens. In September, GMXSOL produced 1,751,592 GT, with minting costs rising by approximately 18%.

Terms & Concepts
  • GMX DAO: A decentralized autonomous organization governing the GMX protocol and related ecosystem developments.
  • GT: A cryptocurrency token produced by GMXSOL, potentially used within the GMX ecosystem for governance or utility purposes.
  • Token Minting Costs: The expenses or computational requirements associated with generating new cryptocurrency tokens.