GMX DAO buys back 12,380 tokens for $85K, total buybacks top $2.4M, shifting fees to token repurchases.

GMX DAO has repurchased over 384,000 GMX tokens for about $2.4 million, using protocol fees previously paid to stakers to fund open-market buybacks. The latest buyback involved 12,380 tokens for $85,000, part of a strategy that reduces staking yields by redirecting 27% of fees to treasury accumulation. The DAO plans to consolidate liquidity by withdrawing 600,000 tokens from external pools and expanding into the Solana market via GMTrade.xyz. Despite these efforts, GMX's token price remains around $6, far below the $90 threshold required before buyback rewards are distributed to avoid market dumping.