Introduction:
$GMT is the governance token of STEPN GO (sneakers), the team repurchased the remaining unlocked $GMT (total 600M) from investors + advisors and launched the burning $GMT activity.
Activity duration (UTC+8): November 22, 2024, 8 AM — January 21, 2025, 8 AM
Total 60 days
Participation Rules:
https://burngmt.com/
Click VOTE — Select the amount of gmt to participate — Approve tokens — Vote
Each time participating in locked voting requires a minimum of 100 gmt, with an increase of at least 100 gmt
Rewards will be distributed according to the proportion of gmt you locked for voting
The invested gmt and allocated rewards will be unlocked together after 8 AM on January 21, the unlock button can be clicked at the top left corner of the website
Rewards can be claimed on the main page of the website
Total reward pool 100m = 100000000, with a total of 60 days of activity time
Rewards decrease daily by 1/60 = daily decrease of 1,666,666.66 (1.65%)
Daily Prize Pool 1,666,666.66
Destruction Rules:
Burn tokens: 60M——230M——600M
Total locked reaches: 100M——500M——900M
Reward Calculation:
Current total locked: 182,526,679.89
Currently, the average daily locked growth within 5 days is 12.8M, remaining event reward time is 54 days
If final lock = 182,526,679 + (12,800,000 * 53) = 860,926,679, calculating the total based on daily earnings:
(Example of borrowing calculation) Whether to hedge with contracts depends on the situation
Participation Plan:
The total lock duration is 60 days, the earlier the lock, the higher the earnings
Risk:
Locked time occupies capital for a long time, need to hedge GMT, currently BN shows funding rate of -0.0027%
