Another Big News 🥳BLUM price leaks 🥳
1 BLUM = 0.006035$
10k = 60$
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Here is some information about BURNGMT
In the dynamic world of cryptocurrency, @GMT DAO @STEPN | Public Beta Phase VI is making headlines with its innovative BURNGMT initiative, a strategic vote to burn 600 million GMT tokens. Running from November 21, 2024, to January 20, 2025, this community-driven event reflects the team’s commitment to decentralization, market stability, and sustainable growth.
What is the BURNGMT Initiative?
The GMT Burn Initiative sets a new standard for community engagement in the web3 ecosystem. By allowing holders to vote on the potential burn of 600 million GMT tokens, the DAO underscores its dedication to decentralization and transparency
BURNGMT allows GMT holders to vote on whether 600 million tokens should be burned. This massive pool of tokens comes from unlocked reserves initially allocated to advisors, investors, and the team, which were donated to the GMT DAO for community decision-making. Participants lock their tokens to cast a vote, with their commitment rewarded from a 100 million GMT pool.
Why Is This Important?
1. Deflationary Tokenomics:
Burning 600 million tokens represents a substantial reduction in supply, potentially driving up the value of GMT. This is aligned with GMT’s long-term strategy to optimize token circulation and enhance market confidence.
2. Community Empowerment:
By giving token holders a say in the burn, the initiative strengthens GMT DAO’s decentralized governance and fosters greater community involvement.
3. Market Impact:
If successful, the burn will leave only 27% of the total GMT supply in circulation over the next six years, creating a more constrained supply environment. Historically, reduced token liquidity has correlated with price appreciation.
The Rewards of Participation
Participants in the BURNGMT event can share in daily rewards from the 100 million GMT pool. These rewards incentivize long-term commitment, as dividends are distributed based on the amount of GMT locked for the vote. Additionally, users gain:
Daily passive income during the lock-up period.
A role in shaping the future of GMT’s ecosystem.
How to Participate
1. Access the Event:
Log in via Binance and navigate to the BURNGMT voting page.
2. Lock Your Tokens:
Choose how much GMT to lock and cast your vote.
3. Monitor Rewards:
Check your daily rewards and await the final outcome on January 20, 2025.
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