Today I finally figured out
how there are so many people in the square whose account screenshots casually show hundreds of thousands of U, even millions of U.
Do you think they earned it by trading coins? Such cases are rare; as far as I know, many are just taking advantage of opportunities. I didn't believe it at first until I met a big player who, through GMT staking voting, receives daily rewards of over 500 U, which completely overturned my worldview.
I spent half an hour understanding the GMT staking voting mechanism, and now I want to share it with everyone.
Participation method: Users participate in voting by locking up GMT tokens. Each voting round requires locking a certain amount of GMT, and rewards from the GMT pool are distributed based on the voting ratio and contribution level.
Reward distribution: The final GMT rewards are based on the user's voting proportion. The more you vote and the higher your proportion, the more GMT rewards you receive.
2. What is the time limit?
Each voting round has a strict time limit. The start and end times of the voting are announced in advance by the project team.
Users need to complete the locking and voting actions within the specified time window; votes cast after the time window are invalid.
3. Whose coins are being burned?
The burned GMT comes from the portion that users actively lock up.
The GMT locked during voting may be partially or completely burned as triggered by the smart contract, which means that voters need to bear a certain risk of token consumption.
4. What is the mechanism that triggers the burn?
When the total voting volume reaches a certain value;
When the proportion of votes for a specific option exceeds a set threshold;
At the end of the time window, the system triggers the burn based on the voting results.
5. What is the voting locking mechanism?
Locking requirements: Users must lock a certain number of GMT tokens when participating in voting. The locked tokens cannot be transferred or traded before the event ends.
Locking period: The specific locking duration is set by the project team and may last from a few days to until the reward distribution is completed.
6. What is the return rate?
Personal voting proportion: The larger the total volume of votes, the smaller the proportion of individual user votes, and thus the rewards received will correspondingly decrease.
Total locking and burning: If more GMT is burned, the value of remaining GMT may rise, indirectly increasing the return rate.
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