$GMX Token Rights
Updated Feb 20, 2026Overview
- Token(s)
- GMXsGMXGLVGM
- Token Type
- GovernanceUtility
- Utility
- Staking, Liquidity Incentives
GMX is the platform's utility and governance token. GM tokens represent shares in a liquidity pool for a single GMX market. GLV (GMX Liquidity Vault) holds various GM tokens as an auto-rebalancing vault of liquidity pools.
Governance Rights
ControlThe GMX DAO owns protocol-owned liquidity in the form of Uniswap V3 NFT LP tokens. Current revenue split was set by DAO vote
Governance Decisions
Treasury Decisions
GMX holders vote on treasury-related proposals. The GMX DAO owns the protocol-owned liquidity in the form of Uniswap V3 NFT LP tokens.
Revenue Decisions
Holders vote on revenue-related parameters, such as fee adustments & incentive distributions
Fee Switch
ONProtocol fees are shared with LPs, GMX stakers and GMX treasury
Resources
Primary Value Accrual
BuybacksValue accrues through buybacks and distribution of platform fees
Equity Statement
GMX Labs was created by the DAO as its service provider. Labs operates fully under DAO oversight and direction. A recent funding proposal requesting 250,000 GMX from the treasury passed, granting two years of operational runway for Labs, with a $9,000,000 annual spend ceiling.
Economic Rights
Value CaptureProtocol fees are automatically split: 63% to GM LPs, 27% to GMX stakers, 10% to GMX treasury
Buybacks
Dividends
GMX stakers earn 27% of platform revenue
Burns
N/ANo burn mechanism is currently active
Ownership
- Fundraising
- No
- Equity Revenue Capture
- No
- Associated Entities
- DAOLabs (DevCo)
- IP & Brand
- Labs (DevCo)