GMX DAO Votes to Transfer $7 Million in Assets to POL Multisig as Emergency Reserve

GMX has proposed to transfer approximately $7 million in assets to the POL multisig as a market-making emergency reserve. The proposal is now live on the governance platform Tally, encouraging token holders to vote or delegate their voting rights. The proposal involves WETH, WBTC, Wrapped SOL, LINK, USDC, GMX, ARB, AAVE, UNI, and PEPE held in the DAO treasury, to be transferred in their native tokens to the GMX POL multisig (4/7) on Arbitrum One, with asset values fluctuating with market conditions. Voting will start on November 6 at 15:14 and end on November 11 at 15:14. This transfer does not increase the total fund amount to $10 million, nor does it represent an immediate use of funds; the reserve will only be utilized in the event of severe market downturns affecting GMX's liquidity, allowing for timely responses without the need to initiate another DAO vote. The first phase has already provided 3 million USDC, and GM Labs assesses that the deployed funds are improving GMX's liquidity and market activity.

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