GMT DAO launched a significant governance initiative in its ecosystem - the BurnGMT voting plan. This plan not only marks a new chapter in the ecological development of GMT tokens but also provides community members with an opportunity to deeply engage in future project decisions.
From November 21, 2024, to January 20, 2025, the GMT community will decide whether to destroy 600 million GMT tokens repurchased by the GMT team through locked voting. What impact will this vote bring to the community? Let's explore together.
1. Background of the BurnGMT Plan: A New Opportunity for Community Governance
The core of the BurnGMT activity is the voting decision on the 600 million GMT tokens repurchased by the GMT team. These tokens originally belonged to early investors and advisors of GMT, but through the repurchase mechanism, they now belong to GMT DAO, and the community governance will decide whether to destroy them. The purpose of this move is to reduce the supply of tokens in the market and further enhance the scarcity of GMT. By destroying these tokens, the circulation of GMT will significantly decrease, thereby increasing its market value. More importantly, this destruction decision is entirely determined by the community through voting, further enhancing the community's governance power and sense of participation.
2. How to Participate in BurnGMT? Locking, Voting, and Triple Returns
Participants can participate in voting and decide the fate of 600 million repurchased tokens by locking GMT tokens through the BurnGMT platform. The entire voting process lasts for 60 days, during which locked tokens cannot be redeemed early. For every certain amount of GMT tokens locked, participants will gain corresponding voting rights and share in the reward of 100 million GMT based on the amount locked.
Participation Steps:
Visit the BurnGMT website and connect your wallet.
Enter the amount of GMT you wish to lock and confirm the transaction.
After paying the gas fee, the system will issue an 'MGGA' NFT to participants as proof of participation.
Wait for rewards; all locked GMT will automatically unlock after 60 days once the voting ends.
Reward Mechanism:
Based on the amount of GMT locked, participants will be rewarded proportionally, with a total reward of 100 million GMT. Approximately 1.67 million GMT in rewards will be distributed daily over 60 days, and the return rate for participants will vary with the number of participants; early participants may receive higher returns.
3. Current Status and Future Outlook of GMT Tokens
So far, GMT has reduced 800 million tokens through ecological activities and destruction mechanisms. If this vote is successful, the destruction of 600 million tokens will further reduce market supply and enhance the scarcity of GMT. This has far-reaching implications for the long-term development of the entire GMT ecosystem. Furthermore, the distribution of GMT tokens is constantly changing. Unlocked tokens account for 27% of the total supply, primarily used for ecological development funds and long-term rewards, while unlocked tokens are widely used in NFT trading and minting in ecological projects like STEPN.
4. The Team Behind GMT: Trusted Execution Power
The development team of GMT - Find Satoshi Lab (FSL), known for its walking mining application STEPN, has attracted a large number of users and established partnerships with globally recognized brands like Adidas and ASICS. The team's execution and innovation capabilities provide strong support for the steady development of the GMT project.
The BurnGMT plan not only paves the way for the future development of GMT tokens but also provides community members with the opportunity to participate in governance and share rewards. By voting on whether to destroy 600 million tokens, the community will directly influence the supply and market potential of GMT. This is not just a simple token destruction experiment but also an attempt to enhance community participation and strengthen governance capabilities. If you are optimistic about the long-term development of GMT or wish to earn rewards through locking, this plan is not to be missed. Join the BurnGMT plan now, become a part of the GMT ecosystem, and shape the future with the community!
#GMT投票燃烧计划