GMT is about to burn up to 600 million tokens!!! Worth up to 1.2 billion dollars!!!
STEPN Introduction: STEPN is a blockchain-based "move-to-earn" game where users earn tokens (GMT) and NFT shoes by walking or running. It combines the concepts of a healthy lifestyle, NFTs, and DeFi, aiming to motivate people to engage in physical activities through gaming.
The BURNGMT voting plan is initiated by GMT DAO, and the voting period for BURNGMT is from November 21, 2024, to January 20, 2025.
The tokens to be burned are 600 million GMT donated to GMT DAO after the GMT team repurchased the unlocked GMT from investors and advisors! This shows the strong financial power and great vision of the GMT team!
In the past, GMT has already burned 13% of the tokens, with the burngmt plan - 600 million GMT soft lockup ready for voting to burn, accounting for 10% of the total.
Mechanism to trigger the burn: The triggering of the burn mechanism relies on the voting results of the community. Users can participate in voting by locking up GMT to decide whether to burn these repurchased tokens. If the majority of users vote in favor, these tokens will be burned.
Voting lockup mechanism: To participate in the BURNGMT voting, users need to lock up a certain amount of GMT tokens.
Rate of return: During the voting process, 100 million GMT will be distributed as participation rewards, meaning that users participating in the voting may receive additional GMT tokens as rewards. The specific rate of return will depend on the number of participants, voting results, and the final allocation of incentive amounts.
GMT Team Background Strength: GMT is part of the STEPN project, and the STEPN team has a certain reputation in the cryptocurrency and blockchain gaming field. They are the champions of the Solana Ignition Hackathon Gaming Track, demonstrating their capabilities in combining blockchain technology and gaming.
We encourage everyone to keep an eye on the progress of the GMT BURNGMT voting event!!!
