The community of decentralized derivatives protocol GMX has initiated a proposal to introduce GMX V2 to Solana to launch the GMSOL project. According to the proposal, under the guidance of close communication with GMX core contributors and community feedback, the relevant project team has completed the construction of the basic framework of GMSOL. In order to ensure the highest standards of security and reliability, GMSOL will undergo multiple rounds of review before it is officially deployed on the Solana network.
According to the proposal description, GMSOL will operate as an independent project while maintaining a close relationship with GMX. All value measurement and storage will use GMX tokens exclusively. GMX will implement a buyback mechanism. A large part of the fees will be used to buy back GMX, thereby establishing the GMSOL Treasury. The GMSOL Treasury will be supervised by the GMX DAO. GMSOL points will be introduced, and GMSOL points will be pre-minted or pre-sold. The specific rules of GMSOL points will be announced before GMSOL is officially launched. The GMSOL Treasury will provide value support for GMSOL points. GMSOL does not require any venture capital funding, and all initial technology development and operating costs are borne by the project team itself.
The proposal requires GMX DAO to bear the potential audit costs of GMSOL and grant a license to copy, use and front-end code.