A new GMX governance proposal seeks to compensate the incoming CEO with a nominal annual salary of one dollar. The innovative structure offers up to 2 million GMX tokens if significant price targets are reached.
The proposal, dubbed “$1 and 1,000,000 $GMX,” moves to a formal governance vote after community discussion. This performance-based model replaces traditional compensation with rewards tied to price milestones: 1 million tokens unlock when GMX hits a 30-day Time Weighted Average Price (TWAP) of $100, and the second tranche unlocks at $1,000. Chainlink oracles will be used for price measurement, ensuring transparency and accountability.
The new CEO, referred to as “Q,” commits to a base salary of just $1, with additional compensation dependent on meeting these community-defined targets. Incentives will vest over one to five years, with protections against misconduct included in the proposal.
This new incentive structure will replace previous arrangements from GMX Labs for the 2026-2027 funding cycle. Maximum dilution is estimated at 800,000 GMX annually, specifically tied to the achievement of the price targets. If target prices are not met, token rewards remain locked.
The proposal has garnered positive feedback from the community, though calls for further execution-focused measures have been made to ensure effective implementation of the model. Funding specifics and allocations for the incentive program will be outlined in subsequent DAO proposals, marking the start of an extensive governance process.