ChainCatcher message, GMX announced that "the income distribution model will be changed to buy back and distribute GMX" has passed the snapshot vote and on-chain voting has begun, ending on August 5.It is reported that the proposal suggests changing GMX's current income distribution model from "buying back ETH and distributing ETH" to "buying back GMX and distributing GMX."

ChainCatcher news, according to a new proposal released by GMX core contributors, the GMX team suggests changing the revenue distribution model from "buyback ETH and distribute ETH" to "buyback GMX and distribute GMX." This proposal aims to leverage the advantages of "buyback" to enhance GMX's long-term value retention capability, optimize user experience, and provide strategic flexibility for the protocol. Specifically, 30% and 70% of the fees from GMX V1, as well as 27% of the fees from GMX V2, will be used to buy back GMX instead of the current WETH and WAVAX. This will create sustained buying pressure for GMX, promoting the stability and growth of the token price. Users can choose to "convert GMX to ETH" or "convert GMX to AVAX" when claiming or compounding, ensuring that the user experience remains unchanged.