GMX’s proposal under the S.T.I.P. program was accepted by the Arbitrum DAO. As a result, up to 12 million $ARB tokens have been used as incentives to support the joint growth of GMX V2 and the Arbitrum DeFi ecosystem.

Liquidity Incentives were distributed to the GM liquidity pools of GMX V2 on Arbitrum. Additionally, Trading Incentives were offered for all GMX V2 markets: traders received a rebate of up to 75% of the fees on opening & closing positions. The distribution of ARB incentives by GMX continued until March 26, the end of Epoch 20.

For a complete overview of the program and details of the incentives for the current weekly epoch, read on:

<aside> 💡 This living document outlines and tracks how the ARB incentives from the GMX S.T.I.P. Proposal to the Arbitrum DAO have been utilised and distributed over time.

• Table of Contents: </aside>

Introduction

Abstract of the GMX S.T.I.P. Proposal:

• The grant application encompasses a comprehensive range of initiatives designed to stimulate widespread engagement with, and on-chain activity for, DeFi on Arbitrum by increasing the adoption and activity focused on GMX V2.
• The proposal prioritises creating a diverse range of perpetual and spot pools that are highly liquid and capital-efficient. These pools, with liquidity provider tokens, will generate yields that are composable with other protocols.
• The total amount of approved incentives is 12.0 million ARB tokens. This includes up to 2 million ARB tokens for a GMX-administered liquidity and volume-based Grants program directed at ecosystem partners building on GMX V2 that don’t directly receive incentives from the Arbitrum DAO.
• Key focus areas are: converting CEX users to DEX users, promoting the development and integration of Arbitrum protocols on GMX V2, targeted incentivising of liquidity provision, and fostering a vibrant on-chain trading environment.

The 12 million ARB tokens allocated to GMX under the STIP Program would initially be distributed over 12 weeks, divided into weekly epochs. However, with the extension of the Arbitrum STIP program’s timeline to the end of March, GMX’s STIP Program was similarly extended.

All ARB token incentives were used towards:

• Liquidity incentives
• Trading incentives
• Grant incentives