The 18th phase of the essay project is sponsored by @GMT DAO and sincerely invites you to share your unique insights and analysis of this GMT burn plan.
$GMT It is a popular project launched on Binance Launchpad. GMT DAO is the ecological fund of the GMT token, which is widely used by users in various products, such as in the GameFi products STEPN and STEPN GO with over 6 million users, where 800 million GMT has been extensively used and burned. STEPN has long-term cooperation with well-known enterprises such as Casio, ASICS shoes, and Adidas shoes. In the cross-chain NFT market and launch platform MOOAR, GMT is used for trading NFTs and automatically generating NFTs through artificial intelligence, while in the cross-chain DEX DOOAR, GMT is used for fees and trading pairs. GMT is also used in other products such as the strategy-based GameFi Gas Hero and the mini-game Morchi. Through FSL ID, GMT is also used in other GameFi as a user registration tool and provides interaction to earn GMT points, which gives GMT a large user base.
The GMT team donated 600 million GMT to GMT DAO after repurchasing the unlocked GMT from investors and advisors. BURNGMT is initiated by GMT DAO, where users can decide whether to burn these 600 million GMT through a 60-day voting lock-up from November 21, 2024, to January 20, 2025, and will share 100 million GMT as participation rewards during the voting process. Thus, only 27% of GMT remains unlocked for release over the next six years, achieving full circulation status.
Reference materials:
Step 1: You must follow @GMT DAO on the official account of Binance Square.
Step 2: You must use the tag #GMT投票燃烧计划 to participate in the @GMT DAO essay competition, publish original content on the square, and share your unique insights and analysis of GMT DAO in this GMT burn plan!
Step 3: Share your square post on social media platform X (Twitter), and @Stepnofficial, add the hashtag #BURNGMT, encourage your fans to comment, like, or share your post to enhance interaction.
Event rules:
After the event ends, the top 50 high-quality contents with at least 300 characters under this topic will be selected and will share a value of 20,000 USD based on views $GMT .
Views > 2000, reward 900 GMT, limit 25 places.
Views > 8000, reward 2500 GMT, limit 15 places.
Views > 15000, reward 4000 GMT, limit 10 places.
All content must be published before 12:00 (UTC+8) on December 2, 2024, to qualify for rewards.
Published content must include the topic #GMT投票燃烧计划 and discuss the following themes.
Suggested themes for creation:
1. Why participate in the BURNGMT program
2. GMT team background strength
Ecological products under the brand:
The team's ecosystem has a rich and diversified product and strategic layout, such as DEX DOOAR, NFT marketplace MOOAR, FSL ecological fund, STEPN, STEPNGO, and the MSAC system, FSLID identity system, as well as the meme coin sut and corresponding morhci.
3. BURNGMT gameplay tutorial
(1) Voting lockup mechanism (one-time lockup for 60 days until Trump's inauguration day (January 20, 2025), with principal rewards issued after 60 days. Rewards up to 100 million GMT, daily fixed reward of 1.67 million GMT).
(2) The burnt GMT from voting comes from the team purchasing back all shares of unlocked early advisors, teams, and investors for 100 million USD, totaling 600 million GMT.
(3) Mechanism to trigger burning: after voting reaches a certain number, the team will burn the corresponding GMT (refer to BURNGMT.com rules) and the website will continue to operate.
(4) Current return rate
Lock-up return rate, GMT will become lock-up 900 million + burn 600 million + staking rewards of 100 million GMT, on the day of the US president's inauguration.
4. How to participate in BURNGMT
Conducted on the P chain. At least 100 GMT to participate in voting to obtain a Little Red Riding Hood NFT staking certificate.
5. The unlocking and distribution of GMT tokens
Coins that have been burned and are to be burned
The number and distribution of unlocked coins
Distribution of unlocked coins
GMT team background strength
Circulating 30Y, burn GMT plan - 600 million GMT soft lockup ready for voting burn, accounting for 10% of the total.
M2E 18%
Ecological fund 9%
Future planned burn 10%
Previously burned 13%
Circulating supply 50%
See details at http://BURNGMT.com token distribution map
6. Future outlook of GMT value
Please read the rules and terms carefully:
-Only content related to #GMT投票燃烧计划 published during the event period (including posts and articles) will be eligible to be considered qualified content.
-Only content that is completely relevant to the project’s required topics will be selected; any misuse of hashtags, misleading or clickbait titles and introductions, or unrelated currencies will result in disqualification from the event.
-Only original new content qualifies. Works submitted before the event are not eligible.
-Do not carry auxiliary features like Q&A red packets.
-You can publish multiple different quality contents to increase your chances of winning.
-Users must publish ≥ 1 piece of content in the last 30 days to qualify for the competition.
-We will distribute the rewards to your account within 20 working days. Users can check their rewards in “Funds” > “Funds Account”.
-All users who meet the award criteria will receive a notification of the award message from the Square Assistant in the Creator Center.
-Binance reserves the right to cancel the eligibility of any account that violates the Binance Square community guidelines or terms and conditions.
-Binance reserves the right to independently decide and/or modify or change these terms and conditions at any time without prior notice, including but not limited to canceling, extending, terminating, or suspending this event, qualification terms and standards, selection and number of winners, as well as the timing of any actions, and all participants shall be bound by these amendments. Binance reserves the final interpretation right of this event.
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