GMX Implements Strategy to Boost Token Value

GMX, a decentralized derivatives exchange, has unveiled a new approach aimed at increasing the value of its token. According to NS3.AI, the exchange plans to suspend staking rewards until the GMX price surpasses $90. The rewards will be redirected to the treasury, with approximately 600,000 GMX being withdrawn from liquidity pools for internal use. Furthermore, 27% of protocol fees will be allocated to ongoing GMX buybacks. Stakers are required to maintain at least 80% of their stake to retain accrued rewards.