The BURNGMT initiative is a voting mechanism launched by the GMT DAO on Binance, designed to determine whether 600 million GMT tokens should be burned. This event, active from November 21, 2024, to January 20, 2025, allows users to lock their tokens and vote on the matter. Participants can earn rewards from a pool of 100 million GMT based on their lock-up amount and activity during the event.
Key points include:
1. Deflationary Strategy: If the tokens are burned, it reduces the circulating supply, potentially increasing the token's price and promoting ecosystem stability.
2. Community Governance: The voting mechanism empowers the community to influence the tokenomics of GMT.
3. Ecological Development: GMT supports various platforms, such as STEPN and DOOAR, and has partnerships with global brands like Adidas and Casio
