In 2022, during the last bull market, the GameFi track was exceptionally hot, with various blockchain games emerging like mushrooms after rain, driving the prosperity of the entire market. Among them, GMT (StepN governance token), as part of Binance Launchpad, quickly gained popularity with its unique 'earn while you run' model, attracting many users from outside the field and creating a myth of soaring from $0.01 to $4, a 400-fold increase, becoming a leading project in the GameFi field.
Today, the StepN team continues to keep pace with the times, constantly updating narratives, and recently launched a market-shocking plan to burn 600 million GMT, attracting widespread attention. Next, we will comprehensively analyze the origins, mechanisms, and potential impacts of this plan on GMT's future value.
The beginning and end of the burning plan: A new milestone for GMT.
The StepN team obtained 600 million GMT by repurchasing unlocked GMT tokens from investors and advisors, donating them to the GMT DAO. The core of this plan is to decide whether to destroy these tokens through community voting while providing generous rewards for participants:
Participation rewards: Voting users will share 100 million GMT as rewards and receive a symbolic 'Make GMT Great Again' NFT.
Reward distribution: The GMT locked for voting and rewards will be distributed the day after the event ends on January 20, 2025.
Burning trigger mechanism: The locked amount determines the scale of destruction.
This plan adopts a phased triggering mechanism aimed at gradually achieving token scarcity through community participation:
Locking 100 million GMT: Destroying 60 million GMT from the advisor's share.
After reaching this goal, the advisor team's holdings will be significantly reduced.
Locking 600 million GMT: Destroying 230 million GMT from the team's share.
If the community's locked amount reaches 600 million, the team's share will be further destroyed.
Locking 900 million GMT: Destroying all 600 million GMT repurchased.
Finally, if the community's locked amount reaches 900 million, all repurchased tokens will be completely destroyed.
How to participate: Seize airdrops and scarce dividends.
Participation method:
Connect to the official website via Binance Web3 wallet and switch to the P chain.
Lock at least 100 GMT to participate in voting and obtain the 'Little Red Riding Hood NFT' staking certificate.
Lock-in period: From now until January 20, 2025.
Reward distribution: NFT holders will share 100 million GMT rewards based on their locking proportion.
Future value outlook for GMT: Driven by scarcity and ecological development.
Continuous expansion of the StepN ecosystem.
User growth and activity: The value of GMT is highly dependent on the user base and activity of StepN. If StepN can continue to attract new users and maintain the enthusiasm of existing users, the demand for its tokens is expected to further increase.
The continued popularity of the Web3 health narrative: As a representative of the 'Move-to-Earn' model, whether StepN can maintain its lead in this field will directly affect market confidence in GMT.
Cross-industry collaboration: Collaborating with traditional brands or other Web3 projects may bring more application scenarios for GMT, such as payments, rewards, or NFT transactions.
Strong token economics (Tokenomics).
Deflationary model: The implementation of the burning plan will significantly reduce circulation supply, further strengthening GMT's scarcity.
Staking incentives: By staking GMT for returns, it can effectively suppress selling pressure and promote long-term value growth.
Fixed total amount: The upper limit of GMT's supply is 6 billion. By reasonably managing circulation through locking and destruction, its price will receive strong support.
Market trends and competitive landscape.
Cryptocurrency market performance: The value of GMT is closely related to the trends of mainstream coins such as Bitcoin and Ethereum, and it is more likely to attract attention during a bull market.
Competitive threats: In the face of the rise of other 'Move-to-Earn' projects, StepN needs to maintain its advantages in technology and user experience.
Health narrative: Whether the combination of Web3 and sports health can long-term attract mainstream users is a key factor determining GMT's future value.
4. The impact of the external macro environment.
Technology and market demand: If StepN can quickly adapt to technological trends, such as introducing AI or social elements, it will help GMT explore more value points.
Conclusion: The future potential of GMT is limitless.
GMT's 'burning plan' is undoubtedly an important step towards achieving higher value. Through deflationary models, community governance, and reward mechanisms, StepN is striving to consolidate its position in the 'Move-to-Earn' track. If the StepN team can continue to promote product iteration, user growth, and ecological expansion, GMT is expected to become a significant value benchmark in the market in the future.#GMT投票燃烧计划 @GMT DAO $GMT