News linked to both this project and an event.
Odaily News: On-chain trading platform GMX has published a governance proposal to allocate $10 million from its treasury in the first phase to establish a GMX token market-making fund. The fund will use cross-chain aggregate open interest as a reference metric, primarily conducting buybacks when GMX's circulating market cap falls below aggregate OI, and shifting to liquidity provision when circulating market cap is not below aggregate OI.The proposal also outlines a subsequent roadmap, including cross-collateral and cross-margin modes, market grouping, net open interest, RFQ, permissionless markets, Robinhood integration, and a new USDG LP product line. Additionally, GMX will initiate a GT buyback and distribute GT airdrops to GMX stakers, with specific details to be announced in subsequent proposals.
Odaily News: Connecticut Attorney General William Tong and State Banking Commissioner Jorge Perez issued a consumer alert on September 3 stating that a resident deposited $200,000 into an unregulated DeFi crypto trading platform following suspected deception, and the funds are currently unrecoverable.The alert lists seven offshore DeFi platforms—GMX, Gains Network, dYdX, Aevo, Drift Protocol, Vertex Protocol, and Hyperliquid—but does not specify that the resident used any of them.Connecticut officials noted that some platforms offer leverage of 50x, 100x, and up to 250x; the related perpetual contracts also involve risks associated with liquidation, funding rates, smart contracts, and oracles.The alert also covers perpetual contracts linked to Apple, Tesla, Nvidia, and SpaceX, stating that these correspond to synthetic prices rather than actual stocks. Officials remind residents to verify the registration status of crypto services, retain transaction and communication records, and promptly report suspected scams. (Bitcoin.com News)