GMX DAO adjusts buybacks and liquidity through governance programs to restore price discovery

GMX DAO recently approved a strategic plan to address the limited effects of ongoing buybacks and the pressure on prices caused by excess supply from CEX.

According to the new plan, starting this week, staking rewards will be directed to the protocol treasury, and the protocol's liquidity will be concentrated in GMX's own infrastructure. This move is reportedly aimed at optimizing the price discovery mechanism, reducing the impact of excess supply from exchanges on the market, and strengthening the intrinsic value support of the protocol.