GMS Protocol Launch
Launch of a yield aggregator/staking protocol on Arbitrum.
DETAILS
- Launch Schedule
- December 20, 12pm UTC – $GMS minting and GMX-GLP vaults launches
- December 22, 12pm UTC – $GMS staking opens
- Mechanics & Features
- GMS Protocol provides pseudo-delta-neutral strategies and smart vaults built on top of GMX
- Single stake USDC, ETH or BTC in the vaults to earn 10-30% APY aggregated yields from $GLP ($GLP is the native GMX token and consists of an index of assets)
- Staked assets is used to mint $GLP on GMX to provide $GLP yields
- Users will receive gmsTokens (e.g. gmsUSDC, gmsETH) as receipt tokens for staked positions, and gmsTokens appreciates in value against the underlying assets at the APY rate
- Users can buy/sell their gmsTokens in exchange for the underlying tokens to enter/exit their positions when stake/unstake is disabled
- There is a 0.25- 0.5% deposit fee (for minting/redeeming GLP on GMX)
- Deposits on vaults are capped at a total of $1,000,000 — $500,000 for USDC vaults, $500,000 for ETH + BTC vaults
- $GMS is the native utility and governance token
- $GMS is minted on the dApp and will be vested over 5 days; new mints will reset the vesting period
- Stake $GMS to earn a share of platform fees generated from the vaults and reserve; unstaking will be enabled for 48 hours at the beginning of every month
- Users can also earn a share of swap fees by providing liquidity for GMS (e.g. GMS/USDC) or gmsTokens (e.g. gmsUSDC/ USDC)
- Tokenomics
- Token symbol: GMS
- Total supply: 800,000
- 17,000 — Locked as $esGMS (for OTC swap for partnership tokens/ long-term investors through several rounds of funding)
- 9,000 — Liquidity
- 53,000 — Community
- ❌ No information how the remaining supply is allocated