Phase 18 of the essay project, this article is sponsored by @GMT DAO , sincerely inviting you to share your unique insights and analysis of this GMT burning plan.
$GMT Is a popular project that was launched on Binance Launchpad. GMT DAO is the ecological fund for the GMT token, which is widely used in various products like STEPN and STEPN GO with over 6 million users, where 800 million GMT has been burned. STEPN has long-term partnerships with well-known companies like Casio, ASICS shoes, Adidas shoes, etc. In the cross-chain NFT market and launch platform MOOAR, GMT is used for trading NFTs and generating NFTs automatically 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 like the 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 of GMT points, which creates a large user base for GMT.
After the GMT team repurchased the unlocked GMT from investors and advisors, they donated 600 million GMT to GMT DAO. BURNGMT is initiated by GMT DAO, where users can vote on whether to burn these 600 million GMT through a 60-day lock-up voting period from November 21, 2024, to January 20, 2025, and will share 100 million GMT as participation rewards during the voting process. Thus, in the next six years, only 27% of move2earn and ecosystem fund will remain unlocked, reaching a fully circulated state.
Reference materials:
Step 1: Follow @GMT DAO the official account on Binance Square.
Step 2: Participate in @GMT DAO the essay contest, use the tag #GMT投票燃烧计划 to publish original content on the Square, sharing your unique insights and analysis of GMT DAO in this GMT burning plan!
Step 3: Share your Square post to social media platform X (Twitter), and @Stepnofficial, add the hashtag #BURNGMT, encourage your followers to comment, like, or share your post to enhance interaction.
Event Rules:
After the event ends, the top 50 quality posts with at least 300 characters will be selected under this topic, and a total value of 20,000 USD $GMT will be shared based on views.
Views > 2000, reward 900 GMT, limit of 25.
Views > 8000, reward 2500 GMT, limit of 15.
Views > 15000, reward 4000 GMT, limit of 10.
All content must be published before December 2, 2024, 12:00 (UTC+8) to qualify for rewards.
Please include the topic #GMT投票燃烧计划 in your published content and discuss the following themes.
Suggested themes for creation:
1. Why participate in the BURNGMT plan
2. GMT Team Background and Strength
Ecosystem products:
The team's ecosystem has a rich and diversified product and strategic layout, including DEX DOOAR, NFT marketplace MOOAR, FSL ecosystem fund, STEPN, STEPNGO, and the MSAC system, FSLID identity system, as well as meme coin sut and the corresponding morhci.
3. BURNGMT Gameplay Tutorial
(1) Voting lock-up mechanism (one-time lock-up for 60 days until the inauguration day of Trump (January 20, 2025), principal rewards will be distributed after 60 days. Up to 100 million GMT in rewards, with a fixed daily reward of 1.67 million GMT).
(2) The voting burn of GMT comes from the team's buyback of 600 million GMT from early advisors, team members, and investors for a total of 100 million USD.
(3) Mechanism to trigger burning: After the 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 900 million locked + 600 million burned + 100 million staking rewards, on the day of the US president's inauguration.
4. How to Participate in BURNGMT
On the P-chain. Minimum 100 GMT to participate in voting and obtain the Little Red Riding Hood NFT staking certificate.
5. The unlocking and distribution of GMT coins
Burned and to be burned coins
Number and distribution of unlocked coins
Distribution of unlocked coins
GMT Team Background and Strength
Circulation 30Y, burn GMT plan - 600 million GMT soft lock for voting burn, accounting for 10% of the total supply.
M2E 18%
Ecosystem fund 9%
Future burn preparation of 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 published during the event period that is related to #GMT投票燃烧计划 (including posts and articles) will qualify as eligible content.
-Only content related to the project’s essay requirements will be selected, ensuring content relevance of at least 70%; any abuse of hashtags or posting irrelevant content will result in disqualification from the event. Titles and introductions that are misleading or clickbait will not qualify for rewards.
-Only original new content qualifies. Works submitted before the event do not qualify.
-Please do not bring question and answer red packets and other auxiliary functions.
-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 participate.
-We will distribute the rewards to your account within 20 working days, and users can check their rewards through 'Funds' > 'Funds Account'.
-All users who meet the award criteria 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 decide, 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 criteria and standards, 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 of this event.
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