GMX proposes to increase the repurchase distribution fee coverage from 27% to 90%

PANews reported on November 26 that the GMX community proposed a new proposal to increase the current GMX buyback and distribution (BB&D) fee coverage from 27% to 90%. According to the proposal, a total of 103,764 GMX (about 5% of the circulating supply) was repurchased in the past 30 days, with a total value of US$3.3412 million.

The proposal suggests reallocating 63% of the fees originally allocated to GM LP in GMX V2 to expand the repurchase scale. Based on the fees in the last 30 days, the monthly repurchase amount is expected to increase from US$3.344 million to US$8.489 million, and the repurchase amount will increase from 103,764 GMX to 345,534 GMX.