One, GMT once shone brightly
Recently, it has also prepared to decide whether to burn the 600 million tokens through voting, and participants will also be allocated 100 million GMT airdrops. If this plan succeeds, the lock-up and burning will lead GMT into deflation, making it more scarce, and its price will likely experience a significant increase!
Second, 😵 let's fully understand this voting and burning plan.
GMT DAO About 10 days ago, the unlocked GMT did not flow into the market but was repurchased by the FSL team, which bought back about 600 million GMT tokens unlocked by investors and advisors and then voluntarily transferred them to GMT DAO. Now the burning rights of these tokens have been handed over to the DAO, and as long as members of GMT DAO lock up GMT in the short term, they can participate in voting to decide the burning quantity:
Locking 100 million GMT, burning 60 million GMT;
Locking 500 million GMT, burning 230 million GMT;
Locking 900 million GMT, burning 600 million GMT.
Staking progress
Voting rewards: 100 million GMT will be distributed to NFT holders according to the lock-up ratio to obtain the 'Make GMT Great Again' NFT. Lock-up period: locked from today until January 20, 2025. Reward distribution: On the second day after the 'Burning GMT' event ends, users will receive GMT for voting and participation rewards.
Three, participation methods
1. Open the official website https://burngmt.com/
2. Lock up GMT held to gain voting shares;
3. Voting options to support the official burning of repurchased GMT tokens.
4. It is worth noting to lock GMT for voting. The more locked, the more GMT will be burned.
Staking rewards
The GMT repurchase and burning plan launched by STEPN is a 'sunny conspiracy' that strikes at the core of token value. Through real monetary repurchase and community voting mechanisms, the project aims to boost GMT prices while optimizing the token supply structure.
Earnings estimation table
Four, multi-party competition and market impact
Behind the fluctuations in token prices, there are often several aspects of competition at play:
In-market and out-of-market competition: Token lock-up reduces circulation, intensifying price competition between spot and futures holders.
Player and project party competition: Players pursue short-term high returns but have limited control over token supply; meanwhile, the project party can dominate operations such as burning but has a more indirect impact on token returns.
Short-term profits versus long-term value competition: Short-term players prefer quick cashing out, while long-term proponents are willing to exchange time for space to gain more lasting benefits.
By repurchasing and handing decision-making power to the community, STEPN effectively resolves the above contradictions. This 'co-construction and co-governance' model alleviates the market's 'prisoner's dilemma,' allowing the community to simply choose 'Yes' or 'No,' which not only enhances trust but also injects more positive expectations into the market.
Five, industry position and future imagination space
As a leader in GameFi at the end of the 2022 bull market, STEPN's market performance and user acceptance have been validated:
Market manipulation ability: From 'a shoe is hard to come by' to large-scale user adoption, STEPN has completed the transformation from GameFi to Mass Adoption.
Community foundation: With nearly 8 million registered users and over 30 offline events held each month, a solid and active user base has formed.
Market dream rate and imagination space: The core of this repurchase plan is not only to stabilize retail investors' chips but also to further expand market scale, granting GMT higher scarcity and future value.
In this repurchase plan, the potential destruction of 600 million tokens and the distribution of 100 million rewards are undoubtedly an excellent opportunity to enhance the scarcity and attractiveness of the tokens.
Six, historical performance: Feedback and wealth creation
STEPN has always been known for its 'user-centered' operational strategy; its historical performance truly deserves the label of 'money giver':
Gifts and returns: Through free running shoes and energy consumption mechanisms, tens of millions of GMT have been invested to reward users, establishing a strong community trust.
Airdrop wealth creation: This year, nearly $30 million worth of GMT has been airdropped, benefiting a large number of community members directly.
Promoting exercise habits: Many users have developed a running habit due to STEPN, forming a long-term loyal community foundation.
This model not only solidifies user stickiness but also supports the long-term development of the project. 🤬😎😎
Summary
STEPN's GMT repurchase and burning plan directly addresses the core of market confidence and token value. By innovatively combining token repurchase and community governance, this action not only enhances the scarcity of GMT but also showcases the blockchain spirit of 'co-construction, co-governance, and sharing' in GameFi projects. In the current market environment, this plan may be a rare opportunity for participation.
