Once a well-known leader in GameFi, the 'running shoe' STEPN is here! $GMT
@GMT DAO Since the launch of the BurnGMT website, it has been another major move after STEPN GO and GGT tokens: locking GMT to participate in the burning decision involving up to 600 million tokens. #GMT投票燃烧计划
First, let’s discuss the details of the BurnGMT event by the GMT DAO voting platform, so everyone can participate in a timely manner:
⌚️ Time: November 21, 2024, to January 20, 2025 (60 days)
Method: Vote to decide whether to burn the 600 million GMT tokens repurchased by the team by locking GMT tokens on the Polygon chain.
Returns: By locking GMT, users can not only participate in governance decisions but also share in a total reward of up to 100 million GMT, with the first day's annualized yield reaching about 1200%.
How to participate: Visit the website burngmt.com, connect your wallet, select the amount of GMT to lock, confirm the transaction and pay the gas fee, and receive the Little Red Hat NFT (MGGA: Make GMT Great Again) as proof.
Note: The locking period is fixed at 60 days, and early redemption is not allowed.
Let’s address everyone's questions:
1. Whose coins are being burned?
On this point, the 600 million tokens decided by voting originally belonged to the investors and advisors of the GMT team. The team donated them to the GMT DAO through repurchase, completely leaving it to community governance. Simply put, it is up to the community to vote on whether to keep or discard them, not everyone's own assets!
2. How is the return rate calculated?
The calculation of daily locking rewards is proportional to the amount of GMT locked by the user. The specific formula may be based on the proportion of the total locked amount. For example: if the total locked amount is 1 billion GMT and a user locks 10,000 tokens, then their daily reward will be calculated based on the proportion.
Lastly, how can GMT make multiple gains?
As of the 26th, BurnGMT data shows: the total locked amount of GMT has reached 172,881,150.49 tokens.
Since the launch of the plan, the GMT price has risen from $0.115 to a peak of $0.2193, an increase of approximately 90.26%. Of course, if the locked amount reaches 500 million and 900 million, larger burning targets will be triggered.
1. Annualized yield of approximately 400%
This voting reward of up to 100 million GMT will be distributed evenly over 60 days, approximately 1.67 million GMT per day, aiming to encourage community users to participate early. After reaching the thresholds of 100 million, 500 million, and 900 million, it will trigger the team to destroy all quotas for consultants, teams, and investors over the next 10 months. Regardless, users can actively vote to earn rewards or passively enjoy the token increase after selling pressure disappears, truly a 'win-win'.
2. $20 million airdrop reward
By locking GMT, users can not only participate in governance decisions but also share in a total reward of up to 100 million GMT. At the current GMT price, these rewards are worth over $20 million.
3. GMT price surge of 90%
With BTC price recently breaking through $93,000 again, there is no doubt that the crypto bull market continues. What we can see is the launch of the BurnGMT destruction plan, which rose from $0.115 to a peak of $0.2193, an increase of approximately 90.26%.
Compared to the peak market value of $2.3 billion, GMT, currently at only $490 million, is undoubtedly undervalued by the market, presenting a certain asymmetrical opportunity.
The team behind this is not limited to short-term price fluctuations but aims to carve out a unique development path through innovative gameplay. With Trump about to take office, the 'GameFi + Meme Coin + Ecological Development' Trinity GMT is expected to usher in a new explosion.
In conclusion: Voting is not just about burning coins
Whether through locking to obtain rewards or participating in voting to decide token destruction, users can benefit. The BurnGMT plan provides users with multi-layered earning opportunities, from deterministic staking rewards to potential market value appreciation. Through a carefully designed mechanism, the project team lays the foundation for the long-term development of GMT tokens while giving back to the community.