Value reshaping: With the rapid development of the Web3 industry, the importance of token economic models is increasingly highlighted. To further enhance GMT's value and strengthen community cohesion, the team has decided to implement a far-reaching plan—to destroy 600 million GMT. This is not only a bold attempt at a deflationary economy but also an opportunity for the community to truly participate in governance.
Plan overview
The team announced that they will destroy the 600 million GMT that will be unlocked in the next 10 months for the team, advisors, and investors. The goal of this action is to reduce circulating supply and enhance token value. More excitingly, this process will be completely decided by community voting, truly achieving a decentralized governance model.
Community participation: How to vote?
1. Access the voting website: Visit burngmt.com (launching on November 21).
2. Lock GMT: Locking GMT is key to participating in voting. The more you lock, the more GMT can be destroyed.
Voting mechanism
• Lock 100 million GMT: Destroy the advisor's GMT.
• Lock another 500 million GMT (totaling 600 million): Destroy the team's GMT.
• Lock another 300 million GMT (totaling 900 million): Destroy all repurchased 600 million GMT.
Note: The GMT you lock will not be destroyed! It can be unlocked after the voting ends, allowing you to participate in other governance activities in the future.
Participants' reward mechanism
Community support will receive generous rewards. The following are the details of the rewards for locking GMT:
1. Commemorative NFT Hat:
• Each user participating in the vote will receive a limited edition NFT hat named Make GMT Great Again (MGGA).
• The hat is not only a unique souvenir but also records the amount of GMT locked by users and the corresponding rewards.
210 million GMT airdrop rewards:
• The team will distribute a total of 100 million GMT rewards proportionally based on the amount and duration of GMT locked by users.
• Reward distribution is fairer: The less total GMT locked daily, the more a single user receives in airdrop rewards.
• All rewards will be distributed after the 60-day lock-up period ends.
DAO governance: Moving towards a decentralized future
Voting is just the starting point; the future GMT DAO will become the core hub for community governance. The management rights of the ecological fund will also gradually be decentralized to community members, and anyone can submit proposals to contribute ideas for project development. Community voting will be conducted quarterly, focusing on promoting the continuous prosperity of the GMT ecosystem.
Why is this plan crucial?
1. Reduce circulating supply, enhance value support:
Destroying 600 million GMT is one of the largest deflationary measures in GMT's history, which will greatly reduce the supply of tokens in the market, thus providing strong support for GMT's long-term value.
2. Incentivize community deep participation:
The locking mechanism not only allows users to become executors of the plan but also ensures they benefit through the reward mechanism.
3. Practice of decentralized governance:
Voting rights are fully entrusted to the community, which not only enhances the fairness of governance but also solidifies GMT's position on the path to decentralization.
Participating in BURNGMT will allow you to receive an exclusive Little Red Riding Hood NFT, which not only serves as proof of staking but also as your identity in GMTDAO. It may have more empowering features in the future. Now you can get it for free while promoting the BURNGMT plan, allowing more GMT to be burned.
GMT DAO is an independent entity created by and serving GMT holders. It manages the GMT ecological fund through on-chain voting, ensuring that decisions are made based on the collective opinions of the community. GMT DAO operates independently and has no affiliation with FSL or any of its related brands (including STEPN, STEPN GO, MOOAR, DOOAR, and Gas Hero).
2. Value return: The strength support of GMT
Market cap potential: Currently valued at about $500 million, the vast ecosystem built by FSL and the gradual implementation of GMT application scenarios is more valuable than many emotional tokens on the market.
Official buyback: The team spent $100 million to buy back 600 million unlocked tokens from investors and advisors. There will be no selling pressure in the future; the price has hovered around 0.2 for half a year, and those who needed to sell have sold. There will also be no selling pressure from investors and advisors in the future.
Destruction mechanism: Nearly 800 million GMT has been destroyed in total over the past two years, accounting for 13% of the total supply.
User base: Millions of users from STEPN and related ecosystems are potential supporters of GMT, providing a solid community foundation.
In the future, there will be less than 5% inflation per year for move2earn and foundation unlocking, which is lower than the US CPI.
3. Team structure and strength
Before the launch of the Gashero, many people suggested to the team to create a new token, which would be easier to promote, but they were all rejected. In fact, the team continues to empower GMT, including the recently launched STEPNGO, which empowers GMT. In March of this year, they airdropped $30 million worth of GMT to community users, not only to reward past supporters but also to seriously create a decentralized, co-creation win-win ecosystem.
The team spent such a large amount, a $100 million buyback equals a huge advertisement, revitalizing the popularity of GMT. This first proves that they have sufficient funds, and the team has strong confidence in the future of GMT, which sufficiently demonstrates the potential for GMT's future.
3. Imagination space: Ecosystem + applications + meme attributes
GMT is not only an ecological token but also the core of the team's ecosystem. All transactions within the ecosystem are settled using GMT, including applications like STEPN, STEPNGO, GASHERO, MOOAR. After that, there will be no more unlocking; this is a fully circulating token, locking some, burning some, and the rise of GMT makes sense.
4. High returns: Early staking, high rewards
Participate in the BURNGMT plan, with the current staking annualized return reaching 330%. The voting lock-up mechanism (a one-time lock-up for 60 days until the day Trump assumes office (January 20, 2025), with principal rewards distributed after 60 days. Up to 100 million GMT rewards, with a fixed daily reward of 1.67 million GMT).
When memecoins enter the final phase, other projects will enter the rotation period.
The rhythm of the crypto world is fast. If you missed this Bitcoin rise, don't miss the quality GMT. The upcoming GMT rhythm is locking 900 million + destroying 600 million + rewarding 100 million GMT, unlocking on the day the US president assumes office. Currently, the liquidity of GMT is gradually being deflated, and many exchanges have suspended withdrawals. This voting is conducted on the Matic chain; come and participate!
