The 18th phase of the essay project is sponsored by @GMT DAO . We invite you to share your unique insights and analysis on this GMT burn plan.
$GMT It is a popular project that was launched on Binance Launchpad. GMT DAO is the ecological fund for the GMT token, which is widely used by various products, such as the GameFi product STEPN and STEPN GO, which have over 6 million users, where GMT has been extensively used and 800 million have been burned. STEPN has long-term partnerships with well-known companies 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 for automatically generating NFTs through artificial intelligence. On the cross-chain DEX DOOAR, GMT is used for transaction fees and trading pairs. GMT is also used in other products such as strategy GameFi Gas Hero and mini game Morchi. Through FSL ID, GMT is also used as a user registration tool in other GameFi, providing interactive earning GMT points, which gives GMT a large user base.
After the GMT team repurchased unlocked GMT from investors and advisors, they donated 600 million GMT to GMT DAO. BURNGMT is initiated by GMT DAO, and through a 60-day lock-up voting from November 21, 2024, to January 20, 2025, users can decide whether to burn these 600 million GMT and will share 100 million GMT as participation rewards during the voting process. Thus, in the next six years, only 27% of GMT related to move2earn and the ecosystem fund will remain unlocked, achieving full circulation status.
Reference material:
Step one: Must follow @GMT DAO the official account on Binance Square.
Step two: 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 on GMT DAO in this GMT burn plan!
Step three: Hope to 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 effects.
Event rules:
After the event ends, we will select the top 50 quality posts with at least 300 characters under this topic, and divide the value of $20,000 based on views $GMT .
Views > 2000, receive a reward of 900 GMT, limit of 25.
Views > 8000, receive a reward of 2500 GMT, limit of 15.
Views > 15000, receive a reward of 4000 GMT, limit of 10.
All content must be published before December 2, 2024, 12:00 (UTC+8) to be eligible for rewards.
Please ensure the content you publish includes the topic #GMT投票燃烧计划 and discusses the following themes.
Suggested themes for creation:
1. Why participate in the BURNGMT program
2. GMT team background strength
Ecosystem products:
The team ecosystem has a rich and diversified product and strategic layout, such as DEX DOOAR, NFT trading market MOOAR, FSL ecosystem fund, STEPN, STEPNGO, as well as MSAC system, FSLID identity system, and also meme coin sut and its corresponding morhci.
3. BURNGMT gameplay tutorial
(1) Voting lock-up mechanism (one-time lock-up for 60 days until the day Trump takes office (January 20, 2025), with principal rewards released after 60 days. Up to 100 million GMT in rewards, with a fixed reward of 1.67 million GMT per day).
(2) The voting burn of GMT comes from the team spending $100 million to repurchase all shares of unlocked early advisors, team, and investors, totaling 600 million GMT.
(3) Mechanism to trigger the burn: Once the voting reaches a certain quantity, the team will burn the corresponding GMT (refer to BURNGMT.com rules) the website continues to operate.
(4) Current return rate
Locked return rate, GMT will turn into locked 900 million + burned 600 million + staking reward of 100 million GMT, on the day the American president takes office.
4. How to participate in BURNGMT
Conducted on the P chain. Minimum 100 GMT to participate in voting and receive a Little Red Riding Hood NFT staking certificate.
5. Unlocking and distribution status of GMT coins
Coins that have been burned and are to be burned
Number and distribution of unlocked coins
Distribution of unlocked coins
GMT team background strength
Circulation of 30Y, burn GMT plan - 600 million GMT soft lock-up prepared for voting burn, accounting for 10% of the total.
M2E 18%
Ecosystem fund 9%
Future planned burn 10%
Previously burned 13%
Circulation 50%
See details at http://BURNGMT.com token distribution chart
6. Future outlook for GMT value
Please read the rules and terms carefully:
-Only content related to the #GMT投票燃烧计划 published during the event (including posts and articles) will be eligible to be considered qualified content.
-Only content that is completely relevant to the project’s submission topic will be selected; any misuse of hashtags, misleading or clickbait titles and introductory content, or other unrelated currencies will result in disqualification from the event.
-Only original new content is eligible. Works submitted before the event are not eligible.
-Do not carry auxiliary functions such as Q&A red envelopes.
-You can publish multiple different quality contents to increase your chances of winning.
-Users must publish ≥ 1 piece of content in the past 30 days to be eligible for participation.
-We will distribute the rewards to your account within 20 working days, and users can check their rewards through 'Funds' > 'Funding Account'.
-All users who meet the award conditions will receive a notification of the award 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 determine 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, eligibility terms and standards, the selection and number of winners, and 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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