Staked $GMX surpassed 8m tokens a few days ago, which represents 80% of circulating supply: That is a stunning figure!😮 For comparison, Hyperliquid only has 42.7% of $HYPE circulating supply staked. One year ago, total staked GMX was 7m tokens, so that's 1m increase in the past 12 months: Very perplexing as to how GMX still has a ridiculously low FDV of only $143m considering how well GMX v2 fees have held up despite the popularity of Hyperliquid and how hyper-competitive the overall perp DEX space has become in the past 12 months: The current GMX valuation becomes even more absurd when taking into account that tokens available across all CEX + DEX has continuously declined for the past 12 months, and is currently at an ATL of 1.59m: 📉 Also keep in mind there's no emissions, just consistent GMX buy-backs from protocol fees, which continuously decrease GMX available for sale. So.... there's 1.59m GMX available for sale, esGMX is growing at 1m per year....maybe I'm missing something, but GMX seems primed for a violent repricing in the near future 📈🔥