The campaign for voting on burning $GMT is in full swing.
What is this event?
The GMT DAO company announced its intention to burn 600 million GMT for a total of $100 million. However, whether there will be burning or not will be decided by the GMT holders themselves through voting. All interested GMT holders can go to a special platform and participate in the voting. At the end of the voting, everyone will receive a reward for participating in the event.
What is coin burning?
Burning is the elimination of part of the coins. This is done by sending these coins to a wallet for which no one has the keys. The burning occurs publicly - the wallet is public and available for everyone to view. However, no one has access to it - thus, tokens are irreversibly removed from circulation - they are burned.
Is GMT safe for users?
Of course. It is planned to burn strictly specific coins from the early distribution to the team, investors, and consultants.
Why burn GMT?
1. Increase in the coin's price. After reducing the number of coins in circulation, the deficit will increase, and the price will rise. Burning such an amount will lead to stable long-term growth.
2. Improving decentralization. By burning a huge full amount of coins from early distribution, the DAO strengthens the decentralization of GMT, increasing the coin's attractiveness for investors.
3. Global news trigger. The burning of $100 million made all the headlines and attracted a lot of attention. The unusual approach with voting and rewards for it significantly fueled interest in the news. Campaigns are being conducted on social media - all for the sake of popularizing GMT and increasing the value (and price) of the coin.
What benefits can a newcomer gain?
1. The most obvious thing - if the price of the coin rises, it is clear that investing in this coin will bring profit. Buy $GMT now and wait for the price to rise.
2. Earning rewards for voting. The reward pool is 100 million GMT. Only coin holders can vote, so it must be purchased first.
3. Participation in the article contest. The prize amounts to $50-400. The promotion is available on Binancesquare. Write an article of 300 characters using the event hashtag. To participate in the contest, the article must gather at least 5 views. Why not give it a try?
