🔔 ⚫️⚪️Preface:

At the end of 2024, the @Stepnofficial community will welcome a very "burning" voting event - BurnGMT. This is not only related to the fate of 600 million GMT but may also become a key turning point for changing$GMT the ecosystem. Imagine, for the next 60 days, all community members will decide together whether these team repurchased tokens should be completely destroyed; doesn’t it feel particularly exciting?



1️⃣ Project background: A major event of "burning our own coins"

GMT DAO is an ecological fund set up specifically for GMT tokens, #GMT voting burn plan, and BurnGMT is an important action within this plan: to burn the 600 million GMT repurchased by the team that have not been unlocked. These tokens originally belonged to early investors and advisors, and the team spent about 100 million dollars to repurchase them. The core question of this event is: "Should we directly burn them?"

If the burn is successful, it will significantly reduce the supply of GMT, decreasing market selling pressure, which could be good for token prices and project ecology in the long term. This is an attempt to hand over control to the community, aiming to achieve higher transparency and trust.



2️⃣ Gameplay interpretation: Locking, voting, dividends, all here

1. How to participate in voting?
- You need to lock your GMT in the BurnGMT platform to vote. The locking period is 60 days and will automatically unlock upon expiration. Tokens cannot be transferred or traded during this period.

2. What are the conditions for burning?
- The total amount locked determines whether to burn and the quantity to be burned:
- Locking 100 million GMT: triggers the first wave of burning;
- Locking 500 million GMT: starts the second wave of burning;
- Locking 900 million GMT: all burned, 600 million tokens will disappear from the market. Each phase of token burning will be recorded on the blockchain, ensuring absolute transparency.



3. Participate in voting and receive rewards!
- To attract more participation, the platform offers 100 million GMT as rewards, distributed according to the proportion of locked amounts, released over 60 days, approximately 1.67 million GMT per day. If you participate early, the return rate may be higher.

3️⃣ Impact on the market: Possible "big changes"

1. Supply reduction, becoming more scarce:
- If the burn is successful, it means the total supply of tokens will decrease by 10%, greatly increasing the scarcity of GMT, which could be a significant benefit for the medium to long-term market.

2. Short-term liquidity decrease:
- Many users locking up their tokens will reduce the circulating supply in the market, this "supply-demand mismatch" may lead to a price increase in the short term.

3. Long-term confidence enhancement:
- BurnGMT is not just a burn; it can enhance the community's trust in the project. Locking up and destroying "unnecessary" tokens can improve the project's transparency and the credibility of team decisions.



4️⃣ Low participation threshold, newcomers can easily join

1. Open the BurnGMT platform.
2. Connect your wallet.
3. Enter the amount of GMT you want to lock, and confirm.
4. Wait for rewards to arrive; the principal will automatically unlock when voting ends.

There are additional benefits; users participating in voting can receive an exclusive NFT, recording your "important vote" contribution to the community.

5️⃣ Current status of GMT: Burning and distribution

So far, GMT has decreased by 800 million tokens through ecological activities and burning mechanisms. If this vote passes, an additional 600 million GMT will be sent to the blockchain's "black hole address," never to return.

Distribution of locked and unlocked tokens:
- Locked portion: accounts for 27% of the total supply, mainly used for ecological development funds and long-term reward mechanisms.
- Unlocked portion: widely used in various ecological products, such as NFT trading and minting in STEPN and MOOAR.

6️⃣ The team behind GMT: Reliable or not?

The development team behind GMT, Find Satoshi Lab (FSL), launched the walking mining application STEPN, attracting over 6 million users, and collaborating with well-known brands like ASICS and Adidas. The team is highly recognized for its execution and innovation capabilities in the Web3 space, providing strong support for the future development of the GMT project.

🎯 Summary: An attempt for community win-win

BurnGMT is a simple and rewarding activity, and a powerful attempt led by the community for the future. If the total locked amount is high enough, this vote could not only reduce the token supply and enhance price potential, but also strengthen the transparency and governance capability of the entire GMT ecosystem.

Whether you want to earn short-term money or have confidence in the long-term development of GMT, this event is worth your attention and participation. Act quickly, opportunities do not wait for anyone!

#GMT投票燃烧计划 $GMT