LBS Blockchain Society Delegate Platform

[TEMP CHECK] Add gmBTC on Arbitrum V3

Vote Result: YES


GMX is an extremely reputable protocol which has seen a significant amount of activity over the last 2 years. gmBTC gains yield from leveraged trading and swap fees, and with a 21.23% APR with $136 million of the token already being minted, is a very attractive asset for users to hold and use as collateral. Lastly, GMX has been audited multiple times, has high bug bounties, and Chainlink oracles will provide pricing for this asset, which reduces the level of risk from listing gmBTC. Therefore, we will vote YES in favour of this TEMP CHECK and note that due to the nature of GMX not allowing atomic withdrawals, it will be even more important for the risk providers to set appropriate caps for the asset.