TechFlow news: The decentralized derivatives protocol GMX announced that its S.T.I.P. proposal has been accepted by Arbitrum DAO. As a result, they will launch an incentive program allocating 12 million ARB tokens to support the joint growth of GMX V2 and the Arbitrum DeFi ecosystem. This incentive program will start on November 8 and be executed over 12 weeks.
The 12 million ARB tokens will primarily fund liquidity and trading incentives, with up to 2 million ARB tokens available as grant incentives to encourage other developers and protocols to build on GMX V2 and drive Arbitrum's growth. Incentive rewards will be distributed weekly, with each week considered one epoch.
The incentive program consists of the following three components:
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Liquidity incentives: Includes rewards for GM liquidity providers and incentives for migrating GLP liquidity into GM pools.
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Trading incentives: Trading on GMX will earn ARB token rebates on trading fees, which can accumulate to offset base trading fees on GMX.
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Grant incentives: Divided into three categories—micro grants (up to $10,000 budget), public grants (up to $100,000 budget), and request-for-proposal grants for larger-scale funding to meet specific needs.
