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Voting power

Overview​

The GMX_DAO token is the governance token of the GMX DAO. It lets you participate directly in protocol governance through on-chain voting and delegation.

The governance system is built on three interconnected contracts: GovToken (an ERC-20 with on-chain vote checkpointing via ERC20Votes), ProtocolGovernor (an OpenZeppelin Governor contract with compatibility for the Bravo governance interface and a 3% quorum requirement), and GovTimelockController (a TimelockController that enforces a mandatory delay before approved proposals are executed). Together, these contracts decentralize protocol decision-making and strengthen community involvement in the GMX ecosystem.

Staking and voting power​

To participate in GMX DAO governance, you must stake your GMX (or esGMX) tokens in the Earn section of the GMX App. When you stake, the RewardRouterV2 contract mints GMX_DAO tokens to your address at a 1:1 ratio. These tokens carry your voting power and let you vote on proposals directly or delegate your votes to a representative.

GMX_DAO is a non-transferable governance token. Only the staking contract (which holds the GOV_TOKEN_CONTROLLER role) can mint, burn, or move GMX_DAO tokens — you can't transfer them freely between wallets. When you unstake your GMX or esGMX, the contract burns the corresponding GMX_DAO balance and you lose the associated voting power immediately.

warning

On Arbitrum, if you hold GMX_DAO tokens but haven't delegated them — either to yourself or to another address — the GMX App disables the Stake and Claim buttons. To restore access, delegate your tokens on Tally before attempting these actions. This enforcement applies to Arbitrum only; the Avalanche frontend does not apply the same restriction.

note

Unstaked GMX and esGMX tokens carry no voting power. You must stake first to receive GMX_DAO tokens and become eligible to vote or delegate.

Nominating yourself as a delegate​

To nominate yourself as a GMX DAO delegate, complete the following steps.

  1. Write a delegate statement on the GMX Governance forum. Your statement serves as your application to the community — describe your experience, areas of expertise, and how you intend to contribute to the protocol.
  2. Navigate to Tally and connect your wallet. Ensure your wallet is connected to the Arbitrum network.
  3. Click My Voting Power on the right side of the screen to open the delegation page.
  4. Click Delegate. You'll see two options:
    • Myself — delegates voting power to the currently connected wallet. Select this to nominate yourself as a delegate.
    • Someone else — delegates voting power to a different wallet address. Enter the target wallet address to proceed.
  5. Confirm the transaction. Once confirmed, your name appears on the GMX DAO landing page alongside other delegates.

Delegating your voting power​

If you hold GMX tokens but can't actively participate in governance, you can delegate your voting power to a community member who votes on your behalf.

warning

When you delegate your voting power, you're entrusting another party to vote on your behalf. Choose a delegate whose values align with yours and who you trust to act in the best interest of the GMX DAO and its community.

To delegate your voting power, complete the following steps.

  1. Open the GMX App and click Earn in the navigation menu.
  2. Click Stake to open the staking dialog and stake your GMX tokens. Once staked, your voting power is reflected as GMX_DAO tokens.
  3. Click Delegate to open the My Voting Power page on Tally.
  4. Connect your wallet to Tally and ensure it's connected to the Arbitrum network.
  5. Browse for a delegate: review the Rising Delegates section, or click Explore all delegates to see all available delegates.
  6. Click Delegate next to your chosen representative to assign your voting power.
    • Alternatively, click My Voting Power to manage delegation directly. From that page, click Delegate and choose Myself or Someone else. If you choose Someone else, enter the wallet address of your intended delegate.
  7. Wait for the transaction to be confirmed on the blockchain. Delegation is complete once the transaction is confirmed.

You can update your delegation on Tally at any time.

Next steps​

  • Proposal process — learn how proposals move from ideation to on-chain vote and execution.