# \[ARFC\] Add GMX to Arbitrum v3 **URL:** \ **Category:** Governance\ **Created:** [June 21, 2023, 12:30am UTC](https://governance.aave.com/t/arfc-add-gmx-to-arbitrum-v3/13768 "2023-06-21T00:30:19Z")\ **Posts on this page:** 6\ **Page:** 1
**Author:** ![0xlide](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/0xlide/32/2833_2.png) [@0xlide](https://governance.aave.com/u/0xlide)\ **Post date:** [June 21, 2023, 12:30am UTC](https://governance.aave.com/t/arfc-add-gmx-to-arbitrum-v3/13768/1 "2023-06-21T00:30:19Z")
title: [ARFC] Add GMX to Arbitrum Aave v3 discussions: [[TEMP CHECK] Add GMX to Arbitrum v3](https://governance.aave.com/t/temp-check-add-gmx-to-arbitrum-v3/12307) shortDescription: Add GMX to Aave v3 on Arbitrum Network. author: @0xlide, @Llamaxyz created: 2023-06-20 * * * # Summary This publication presents the community an opportunity to add GMX to the Arbitrum Aave v3 Liquidity Pool. # Motivation GMX Protocol is the largest DEX offering derivatives and one of the most popular DeFi’s today. GMX Token is also one of the highest traded assets on Arbiturm. The GMX token is the utility, governance, and fee accrual token for the GMX protocol. The GMX value accrual mechanism is unique to the GMX protocol. GMX is a highly staked asset, with approximately 78% of circulating GMX staked earning an APR of [2.94%](https://app.gmx.io/#/earn). This staking yield may generate borrowing demand for GMX, noting the yield is volatile. Adding the GMX token to Arbitrum Aave v3 support greater asset diversification. Users will be able to deposit GMX as collateral and borrow GMX leading to additional revenue opportunities for Aave. This publication contains risk paramters provided by Chaos Labs and Gauntlet. The initial forum discussion can be found [here](https://governance.aave.com/t/temp-check-add-gmx-to-arbitrum-v3/12307/8). # Specification The parameters shown below are supported by @Gauntlet and @ChaosLabs . Ticker: GMX Contract Address: [`0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a`](https://arbiscan.io/token/0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a) Chainlink Oracle GMX/USD [`0xdb98056fecfff59d032ab628337a4887110df3db`](https://arbiscan.io/address/0xdb98056fecfff59d032ab628337a4887110df3db) | Parameter | Value | | --- | --- | | Isolation Mode | Yes | | Borrowable | Yes | | Collateral Enabled | Yes | | Supply Cap | 110,000 units | | Borrow Cap | 60,000 units | | Debt Ceiling | $2,500,000 | | LTV | 45.00% | | LT | 55.00% | | Liquidation Bonus | 8.00% | | Liquidation Protocol Fee | 10.00% | | Variable Base | 0.00% | | Variable Slope1 | 9.00% | | Variable Slope2 | 300.00% | | Uoptimal | 45.00% | | Silo Borrowing | No | | eMode | No | | Reserve Factor | 20.00% | | Stable Borrowing | Disabled | | Stable Slope1 | 0.00% | | Stable Slope2 | 0.00% | | Base Stable Rate Offset | 0.00% | | Stable Rate Excess Offset | 13.00% | | Optimal Stable To Total Debt Ratio | 20.00% | # Disclaimer Neither @0xlide and/or @Llamaxyz are affiliated with GMX or any other entity and has not received payment to present this ARFC. At the time of writing, both @0xlide and @llamaxyz, do not possess any GMX. @0xlide holds only a small amount of GLP. @llamaxyz has supported the drafting of this proposal and will prepare the payload for listing GMX on Arbitrum v3, pending successful Snapshot vote. # Copyright Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). ---
**Author:** ![0xkeyrock.eth](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/0xkeyrock.eth/32/6082_2.png) [@0xkeyrock.eth](https://governance.aave.com/u/0xkeyrock.eth)\ **Post date:** [June 21, 2023, 7:10am UTC](https://governance.aave.com/t/arfc-add-gmx-to-arbitrum-v3/13768/2 "2023-06-21T07:10:21Z")
We support this listing. ---
**Author:** ![MarcZeller](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/marczeller/32/7124_2.png) [@MarcZeller](https://governance.aave.com/u/MarcZeller)\ **Post date:** [June 21, 2023, 9:08am UTC](https://governance.aave.com/t/arfc-add-gmx-to-arbitrum-v3/13768/3 "2023-06-21T09:08:32Z")
Hello and thanks for publishing this standard ARFC. The ACI doesn’t think there’s a business case for GMX as collateral on Aave. GMX holders > [@0xlide](#): > > GMX is a highly staked asset, with approximately 78% of circulating GMX very largely stake it to benefit from protocol revenue. onboarding an asset on aave increase overall protocol risk and with little to no perspective of additional revenue, we’re simply not in favor of this onboarding. ![Nay](https://europe1.discourse-cdn.com/flex013/uploads/aave/original/2X/1/110db90cc11acc53185b2eb19c961fcbc4718cd6.png) ---
**Author:** ![Llamaxyz](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/llamaxyz/32/2044_2.png) [@Llamaxyz](https://governance.aave.com/u/Llamaxyz)\ **Post date:** [July 4, 2023, 7:13pm UTC](https://governance.aave.com/t/arfc-add-gmx-to-arbitrum-v3/13768/4 "2023-07-04T19:13:01Z")
Hi Everyone, A Snapshot vote has been created. [https://snapshot.org/#/aave.eth/proposal/0x1751d8de3c549ee99fbc9c1286d9575c482c3e639500dcc027455c8742d48bc9](https://snapshot.org/#/aave.eth/proposal/0x1751d8de3c549ee99fbc9c1286d9575c482c3e639500dcc027455c8742d48bc9) Thank you to all those that vote in advance. ---
**Author:** ![Gauntlet](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/gauntlet/32/4064_2.png) [@Gauntlet](https://governance.aave.com/u/Gauntlet)\ **Post date:** [July 12, 2023, 10:34pm UTC](https://governance.aave.com/t/arfc-add-gmx-to-arbitrum-v3/13768/5 "2023-07-12T22:34:49Z")
Gauntlet is supportive of the parameters above. From a market risk perspective, we are able to support up to $5m in debt ceiling and 180k in both supply and borrow cap. ---
**Author:** ![system](https://europe1.discourse-cdn.com/flex013/uploads/aave/original/2X/e/e11637c36f45ffa158f2146f5c19438d46e0824d.svg) [@system](https://governance.aave.com/u/system)\ **Post date:** [August 11, 2023, 10:35pm UTC](https://governance.aave.com/t/arfc-add-gmx-to-arbitrum-v3/13768/6 "2023-08-11T22:35:17Z")
Closed on August 11, 2023, 10:35pm UTC This topic was automatically closed 30 days after the last reply. New replies are no longer allowed.