The voting burn mechanism in the #BurnGMT initiative is all about letting the community actively shape the future of GMT tokens while adding value to their holdings. Here’s how it works in a straightforward way:
The 60-Day Lock
When you participate in the voting process, you “lock” your GMT tokens for 60 days. This means you can’t trade, sell, or transfer those tokens during that time. Why the lock? It’s a way to show commitment and stabilize the token supply while the burn happens. By temporarily removing these tokens from circulation, it helps reduce selling pressure, which can positively impact the token’s value.
The 100M GMT Reward Pool
To make it worth your while, GMT has set aside a reward pool of 100 million GMT tokens. If you vote, you get a share of this pool! The more tokens you lock up, the bigger your slice of the rewards. It’s like being paid for taking part in an important decision for the ecosystem.
Why This Matters
This system benefits both you and the GMT ecosystem. You earn rewards while helping to create a long-term, stable environment for the token. Plus, burning tokens (permanently removing them) reduces the total supply, potentially increasing the value of the tokens you still hold. It’s a clever way to bring the community together and make decisions that can drive the project forward.
It’s not just about the numbers—it’s about making you an active participant in the future of GMT.