A new GMX governance proposal wants to pay the protocol’s incoming CEO an annual salary of one dollar. The catch: up to 2 million GMX tokens are on the table if the team can push the token price to levels that would make current holders very, very happy.
The GMX DAO advanced a proposal titled “$1 and 1,000,000 $GMX” to a Snapshot vote on May 20, moving from forum discussion to a formal governance decision. The plan would replace traditional token compensation with a performance-based incentive structure that only pays out when specific price milestones are met.
The structure: skin in the game, or nothing
The incentive pool is capped at 2 million GMX, split into two equal tranches of 1 million tokens each. The first tranche unlocks when GMX hits a 30-day Time Weighted Average Price of $100. The second tranche requires a 30-day TWAP of $1,000.
Those prices aren’t measured by some internal metric or self-reported figure. The proposal specifies Chainlink oracles as the measurement mechanism, which removes the team’s ability to game the numbers.
