[GMX DAO Vote Proposes Transferring Approximately $7 Million to POL Multisig as Emergency Reserve for Market Making] Foresight News reports that on-chain trading platform GMX tweeted that its proposal for the second phase of its $10 million GMX token market-making fund, titled "GMX Market Making Fund Phase 2: Emergency Reserve," is now live on its governance platform, Tally, calling on token holders to vote or delegate their voting rights to active representatives. According to the proposal, WETH, WBTC, Wrapped SOL, LINK, USDC, GMX, ARB, AAVE, UNI, and PEPE held in the DAO treasury will be transferred in their original token form to the GMX POL multisig (4/7) on Arbitrum One. The asset value will fluctuate with market conditions and is not a fixed $7 million. The vote will begin on November 6th at 15:14 and end on November 11th at 15:14. This transfer does not increase the total $10 million fund, nor does it represent immediate use of the funds. This reserve will only be used in the event of a severe market downturn impacting GMX liquidity, allowing for timely responses without requiring another DAO vote. The first phase has already provided 3 million USDC, and GM Labs assesses that the deployed funds are improving GMX liquidity and market activity. According to a previous report by Foresight News, GMX released a governance proposal on September 16th, intending to allocate $10 million from the treasury to establish a GMX token market-making fund.