Continuing from the plans outlined in Gambit: Chapter II. It has been three weeks since the… | by Gambit Protocol | May, 2021 | Medium, this proposal details the sequence of developments for the Gambit protocol.
- UI Improvements
- TradingView chart
- Leverage slider
- Support for more wallets
- First trading competition
- Simple Twitter PnL competition
- Two ways to join:
- Post your PnL on Gambit, top three highest and top three lowest PnLs will win a prize
- Tag a friend who you think would win, win $500 if the friend you tagged wins a PnL prize
- PnL winners would need to dm us their address so that we can verify the profit or loss
- Contract improvements
- Positive rebates and additional fees to keep assets in balance: the impact on balance can be measured for every action, if an action reduces balance then there would be an additional fee for the action, if an action improves balance then there would be a positive rebate for the action
- Customisable caps per asset: this would allow us to more easily add new but riskier assets
- Allow payouts of leverage positions to be in USDG
- Waive conversion fees for USDG when entering and exiting positions
- Update price feeds to use the time-weighted average price from Uniswap V3 contracts together with the price from Chainlink, this will allow us to offer smaller spreads and more up to date prices
- Launch on Arbitrum
- Update xGMT emissions and bonus rewards for locking
- GMT buybacks with 10% of fees
- Distribute fees in USDG
- Trigger orders testnet
- Limit, stop-loss, take-profit orders
- Trigger orders mainnet
- Second trading competition (to be confirmed)
Development work will progress in the order listed. For trigger orders, they are being worked on simultaneously, just that we will launch other updates while it is in the process of being completed.
We decided on Arbitrum over other networks because Uniswap V3 should be launching on Arbitrum. Uniswap V3 would allow us to improve pricing and spreads significantly by using the time-weighted average price values of their pools.
We will use bridges to allow GMT, xGMT and USDG to be transferred between Binance Smart Chain (BSC) and Arbitrum.
On launch, xGMT rewards will be split between BSC and Arbitrum, the rewards per chain would be:
- GMT-USDG: 2000 xGMT tokens per month
- xGMT-USDG: 4000 xGMT tokens per month
After the Arbitrum launch we will work on the bonuses for locked LP tokens and the xGMT emissions will be updated when this is ready