# Launch Whitelisted members will be able to mint at a discount on launch day to accumulate our first batch of reserve. * 75% of the initial mint will be converted into GLP * The other 25% will be used to form Uniswap V3 protocol-owned liquidity for receipt tokens(gmdUSDC, gmdETH, gmdBTC), allowing users to enter/exit their vault positions when unstake is disabled. 100% of the fees collected from the protocol-owned liquidity and our other underlying assets will be distributed to $GMD hold-and-stakers. The GLP reserve will be also used to absorb single-staking volatility and ensure delta neutrality. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://gmd-protocol.gitbook.io/gmd-protocol/gmd-tokenomics/launch.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.