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