Good information

GMT (Green Metaverse Token) is the governance token of the STEPN ecosystem, a move-to-earn platform that rewards users for walking, jogging, or running outdoors. Here’s an overview of its tokenomics and the impact of token burns:

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GMT Tokenomics

1. Total Supply:
GMT has a capped total supply of 6 billion tokens.

2. Distribution:

Move-to-Earn Rewards: A portion of GMT is allocated as rewards for users who engage in the platform’s move-to-earn activities.

Ecosystem Treasury: Funds are reserved for ecosystem growth, development, and sustainability.

Private Sale and Public Distribution: Allocated during funding rounds to raise capital.

Team and Advisors: Allocated to developers and advisors with vesting schedules.

3. Utility:

Governance: GMT holders can participate in voting on ecosystem proposals.

In-Game Benefits: Used for activities such as leveling up sneakers, unlocking advanced features, and upgrading.

Staking: Users can stake GMT to earn additional rewards.

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Burn Mechanism and Impact

The STEPN ecosystem employs a burn mechanism to control GMT supply and create scarcity:

1. Use Cases for Burning:

Upgrading sneakers.

Minting new sneakers.

Redistributing marketplace fees.

Other in-app activities requiring GMT.

2. Impact of Burning:

Deflationary Effect: As GMT is burned, the circulating supply decreases, potentially increasing token scarcity and value over time.

Price Stability: Regular burns can help counter inflationary pressures and stabilize prices.

Demand Growth: Utility-driven burns incentivize holding and using GMT, boosting ecosystem engagement.

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Considerations

Market Volatility: The value of GMT is influenced by broader crypto market trends and user adoption of STEPN.

Ecosystem Adoption: The effectiveness of token burns depends on active participation and sustained demand for in-game assets and utilities.

Future Changes: STEPN may adjust tokenomics or introduce new burning mechanisms as the ecosystem evolves.

If you'd like further details or specific examples of GMT burns, let me know!
#BURNGMT