GMX Labs has appointed Q as its first Chief Executive Officer, marking a significant leadership milestone for the decentralized perpetuals exchange. Q, a prominent community member and major GMX token holder, is also known for creating GMTrade.xyz, a community-deployed version of GMX on Solana. In parallel, GMX Labs has successfully executed its "Recover Price Discovery Strategy Plan," approved by the GMX DAO in March. Since March 5, the protocol has repurchased 168,500 GMX tokens, spending approximately $1.1 million at an average price of $6.50 per token. This initiative is projected to result in an annualized repurchase volume of $6 to $7 million. Additionally, GMX has completed the first phase of its liquidity reorganization, withdrawing and redeploying positions from Uniswap V2 and Trader Joe to its own infrastructure.