GMX proposal aims to expand buyback coverage to 90%, with monthly buyback volume potentially increasing to 345,000 pieces.

Deep Tide TechFlow news, on November 26, GMX initiated an important governance proposal, planning to significantly increase the coverage of buyback and distribution fees from the current 27% to 90%. Data shows that GMX has repurchased 103,764 GMX (about 5% of circulation) in the past 30 days, with a total value of $3.3412 million and a value retention rate of 91.38%.

The proposal suggests reallocating the current 63% of fees allocated to GM LP for buybacks. If the proposal is approved, the monthly buyback volume is expected to increase from the current 103,700 to 345,500 GMX, and the buyback amount will rise from $3.344 million to $8.489 million. The proposal also provides another option: adjusting the fee distribution ratio between GMX and GM LP from 27:63 to 40:50.

It is worth noting that GMX's current monthly total fee revenue reaches $9.432 million, of which $3.344 million is used for buybacks. The proposal indicates that expanding the buyback coverage will provide GMX with stronger market stability, capable of hedging the impact of a sell-off of 100,000 GMX within 12 days.