Token Listing GST & GMT

Hi MangoDAO,

Here is @FTX_Benson from Mango Chinese Community and MatrixDAO.

I’ve been playing STEPN since its launch day, and have found that $GMT has been one of the most actively traded perps on FTX (4th in trading volume and 8th in OI) and widely supported by many top tier CEXes including FTX/Binance/Coinbase. It’s also widely integrated in Solana defi ecosystem, like Solend for lending borrowing $GMT($GST), 01 exchange for $GMT perp, and Orca for trading on DEXes.

The listing of $GST and $GMT contributes to a paradigm shift for Orca and changes the whole landscape for Solana DEX. $GST and $GMT are now the hottest tokens on Orca (accounting for 40%+ trading volume), only second to SOL/USDC pair. This shows the demands from retail users.

As a flagship defi infrastructure on Solana, Mango should have those 2 tokens onboard as well. We suggest $GMT and $GST listed with same specs as SRM .

PS: I have personal contact with STEPN’s two co-founders and would be happy to help Mango connect with them if needed.

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I totally agree with @FTX_Benson , MangoDAO should delist Luna and list both GMT and GST.

Had a look at the funding rates for these assets on ftx and the on-chain liquidity available on Solana:

FTX

Atrix

Raydium

Solend
image

Here some thoughts:

  1. GMT seems to have the larger CEX volume though (10x GST)
  2. GST is heavily shorted across all markets, this might require listing with very extreme lending rates, also the current funding rate limits
    (5% per day vs 3% per day for gst perp on ftx) might become an issue.
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