In the crypto market, every major move by the project officials may become an important watershed in the development of the project.
Recently, GMT DAO launched a 600 million GMT destruction activity, which decided the specific implementation plan of this part of GMT destruction through voting, and at the same time incentivized voting participants through airdrop rewards. This article will introduce and extend the thinking based on the launch of the GMT destruction plan.
GMT和STEPN&STEPN GO
1. The origin of GMT and STEPN
GMT (Green Metaverse Token) is the core token of the STEPN project, and STEPN is one of the star projects of the GameFi and SocialFi concepts. It came to the fore in 2022 and is well known by practitioners in the web3 industry.
STEPN started with the "Move-to-Earn" model, attracted a large number of users through its unique NFT running shoe design, and gradually built a comprehensive ecosystem that goes beyond a single function. Today, STEPN has been upgraded to STEPN GO, which fully integrates personalized image customization, NFT financial attributes, and more diversified usage scenarios, making the application value of GMT continue to increase.
So far, the number of STEPN users has exceeded 6 million, covering multiple countries and regions. Through STEPN's GMT circulation destruction mechanism, 800 million GMTs have been destroyed.
2. Rich ecosystem built by GMT
GMT's ecological projects are not limited to STEPN. Through the concerted efforts of the team and ecological participants, a multi-dimensional, multi-chain comprehensive layout has been formed in the past two years, and its potential and application value have gradually emerged.
DeFi: Dooar
Dooar is an important DeFi project in the FSL ecosystem, focusing on multi-chain decentralized transactions. By absorbing and guiding multi-chain asset liquidity, Dooar provides solid value support for GMT. The DeFi infrastructure makes GMT not only a universal token within the ecosystem, but also can play a role in a wider range of financial scenarios.
NFT Marketplace: MOOAR
MOOAR is a feature-rich NFT platform that is committed to providing a stable and secure NFT trading venue. As an important asset type of Web3, NFT is the cornerstone of the GMT ecosystem and STEPN, and the support of the MOOAR platform enables GMT to play an important role in the issuance and trading of NFT.
GameFi：GASHERO
As an innovative blockchain game, GASHERO combines entertainment with economic benefits. Players can not only enjoy the fun of the game, but also gain benefits through the economic system. This win-win model provides more possibilities for the actual use of GMT.
Perfecting Web3 Identity: FSL ID
FSL ID is a promising project in the GMT ecosystem, focusing on providing users with Web3 identity management solutions. By strengthening users' sense of honor and participation in the ecosystem, FSL ID provides more possibilities for the long-term development of the GMT ecosystem.
600 Million Token Destruction Plan: Value and Participation
In the cryptocurrency market, token destruction is a classic means of deflation. By reducing the total amount of circulation or potential circulation, it increases scarcity, thereby pushing up the price of the currency and enhancing market confidence.
GMT has previously completed a 13% destruction ratio. If the 600 million destruction plan is successful, the destruction ratio will be further increased to 23%, which will help enhance the value of GMT.
Details of the voting and burning plan:
Topic-🎳Discuss the destruction of 600 million GMT
Source-🎭Official team repurchased, not released
Time- 🕰November 21, 2024 to January 20, 2025
Method-🔒Lock up your funds to participate in voting and share the airdrop
Rules-♨️Gradually destroy consultants (locked 100 million), team (locked 600 million), and finally all 600 million (locked 900 million) according to the locked amount
Rewards - 🏆100 million GMT
Return-💰Determined by lock-up time and amount of funds
The possible impact of the destruction plan on the market
Based on past experience, token destruction usually has a positive impact on its price. For GMT, the destruction of 600 million tokens will greatly reduce the circulating supply. Combined with historical data and market sentiment, this plan is expected to further boost GMT's market performance.
The destruction plans of many other projects have helped the development of the projects. For example, Binance has been constantly improving the scarcity and value of its tokens by regularly destroying BNB. Today, BNB has become one of the giants in the crypto world. The successful experience of BNB shows that if the destruction plan can be continuously implemented, it can indeed promote the price of tokens and the development of the ecosystem.
In addition, attracting more attention and influence into the GMT ecosystem through the destruction plan may bring more users and liquidity to GMT-related projects, forming a positive feedback effect.
On the other hand, the lock-up voting mechanism is not only a simple participation activity, but also a consensus-building process. By mobilizing the enthusiasm of coin holders and ecosystem participants, the destruction plan will bring the community closer together, and this cohesion is crucial for the long-term development of the project.
Summarize
The 600 million GMT destruction plan is undoubtedly an important milestone in the development of the GMT ecosystem. Through this plan, GMT is not only expected to further improve its market performance, but also enhance community cohesion and ecological influence. In the rapid development of Web3, GMT's future market changes have more possibilities.
For investors and participants, now is a good time to pay attention to and participate in the GMT ecosystem. Let us wait and see.