So shocking! The annualized staking rate for GMT is as high as 1179%, unprecedented! The minimum staking amount is 100 GMT, and by casting just one vote, you can receive a Little Red Hat NFT. It is recommended that all sneaker friends ensure they at least obtain the Little Red Hat, which symbolizes joining the GMT DAO. Moreover, the potential value of the Little Red Hat is immense and could rise to the price of one Ethereum!

Let's introduce the burning plan of GMT!

1. Why participate in the BURNGMT plan?

The BURNGMT plan is an unprecedented ecological innovation initiative by the GMT community, aimed at enhancing the scarcity and long-term value of GMT through voting locking and burning mechanisms. For participants, the plan offers dual benefits: up to 100 million GMT in locked rewards and the potential price appreciation due to token destruction. Through this mechanism, community members can not only obtain immediate returns but also promote the development of the GMT ecosystem.

2. Background and strength of the GMT team

The GMT team is a leader in the blockchain field, with rich development and operational experience, and a wide ecological layout, including:

• DEX DOOAR: A decentralized exchange providing convenient and efficient trading services.

• NFT trading market MOOAR: Focused on the circulation of digital assets and creator economy.

• FSL ecological fund: Supporting incubation of blockchain startups and innovative projects.

• STEPN and STEPNGO: Well-known M2E sports mining projects and their extended products.

• MSAC system and FSLID identity system: Enhancing ecological security and user experience.

In addition, the team has launched the meme coin SUT and its supporting project Morhci, injecting more vitality into the ecosystem.

3. Analysis of BURNGMT's gameplay

• Voting locking mechanism

Users can lock up GMT for 60 days until January 20, 2025 (U.S. Presidential Inauguration Day). During this period, users can share a reward of 1.67 million GMT daily, totaling 100 million GMT, and the locked principal will be released after the term ends.

• Burning mechanism

Once the number of locked votes reaches the specified threshold, the team will proportionally destroy from the 600 million GMT repurchased. Token destruction will reduce market circulation, enhancing the token's scarcity.

• Current return rate

The potential return rate of locked voting is very considerable. The plan involves a total of 900 million locked, 600 million burned, and 100 million reward GMT.

• How to participate

Users must participate in voting on the P chain, with a minimum threshold of 100 GMT. After voting, a Little Red Hat NFT will be granted as proof of staking.

4. Unlocking and distribution of GMT tokens

The token distribution of GMT is transparent, with the current allocation as follows:

• Circulating supply: 50%

• Future planned destruction: 10%

• M2E incentives: 18%

• Ecological fund: 9%

• Past destruction: 13%

The planned burning of 600 million GMT accounts for 10% of the total, which will significantly reduce the token supply and enhance the value potential of GMT.

5. Future value outlook of GMT

As the BURNGMT plan progresses, the scarcity of GMT will further increase, and its long-term value is evident. Additionally, the team brings more practical application scenarios and market demand for GMT through a wide ecological layout. From both the token economic model and community participation perspectives, the future of GMT is full of potential.