GMX Will End Governance Committee and Move Arbitrum Role to Contributors

GMX will wind down its Governance Committee after its fourth term, shifting Arbitrum DAO voting and multisig signing duties to internal contributors while keeping GMX represented in governance.

The contributors will represent GMX DAO in Arbitrum DAO votes and take the committee’s signer seats on a governance multisig. The on-chain signer change is planned for later this week. Three of the multisig’s five signers will still need to sign a transaction.

Formed in July 2024, the committee was tasked with using 12 million Arbitrum (ARB) tokens granted to GMX to participate in Arbitrum governance votes. GMX cited a decline in proposal volume as reducing the need for a dedicated committee. It said the transition is not expected to add costs for GMX DAO.