The GMX Decentralized Autonomous Organization (DAO) has approved a strategic plan to purchase $110,000 worth of GT tokens monthly from its Solana-based deployment over the next year. This initiative stems from a proposal first shared in August, aiming to provide consistent funding for GMX Solana as it expands its operations, audits, and infrastructure. Concurrently, it is intended to offer the DAO long-term exposure to GT as the Solana ecosystem matures.
Rationale for Funding Introduction
GMX Solana originated as a community proposal in mid-2024 and officially launched in March 2025. Since its inception, the platform has facilitated over $3 billion in trading volume and has accumulated more than 2,400 users. The platform has generated approximately $1.36 million in fees, maintains about $1.2 million in open interest, and has already acquired $500,000 worth of GMX tokens for the DAO treasury.
The GMX DAO's decision to approve this funding plan is driven by GMX Solana's current growth phase, which necessitates steady resources for its operational needs, including audits, risk management, and infrastructure development. This project marks GMX's initial expansion beyond the Arbitrum network. Notably, the core contributors have been developing GMX Solana without compensation to date.
Under the newly approved funding strategy, the DAO will allocate $110,000 each month towards expenses such as audits, risk management protocols, developer compensation, infrastructure costs, and limited marketing efforts. The majority of this budget is earmarked for crucial audit and engineering work, reflecting the team's prior lack of formal remuneration.
Discussions are ongoing regarding the specific pricing model for the GT token purchases. Some DAO members have expressed concerns about implementing a method that could inadvertently inflate GT prices due to the DAO's own buying activity. Based on recent revenue figures, the treasury swap is projected to represent approximately 16–18% of the monthly income.
This funding update arrives at a time when GT, the token designated for these purchases, has experienced a weaker trading performance in recent weeks. As of this report, GT (GateToken) was trading at approximately $14.75, with a market capitalization around $1.18 billion. The token has seen a decline of about 10% over the past month and a slip of approximately 3% in the last 24 hours.