📝 Hi, I am 𝟏𝟎, let GMT burn! #GMT投票燃烧计划 , 600 million GMT, worth over a hundred million, to burn or to keep, it's your call!
Once a sensation on Binance Launchpad, $GMT has become an all-rounder in GameFi and Web3! This time, the decision to burn or keep 600 million GMT is up to you! Participate in voting, share in the 100 million rewards, and witness the new chapter of $GMT full circulation!
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I. Background and strength of the GMT team
1 / Introduction to GMT
GMT ( @GMT DAO ) is at the core of the FSL ecosystem, playing a key role through STEPN. Recently, the independent community organization GMT ASO announced the launch of the GMT Burn Initiative, planning to let holders vote to decide on burning up to 600 million GMT (approximately $100 million), becoming one of the most ambitious token burning plans in the Web3 ecosystem.
2 / Team and brand strength
Behind GMT is Find Satoshi Lab, which has successfully attracted 5.6 million users globally through STEPN, covering over 200 countries. By combining GameFi and SocialFi elements, STEPN has achieved 'earn while you walk', lowering the entry barrier for Web3, especially in long-term collaborations with global brands like Casio, ASICS, and Adidas.
3 / Limited-time voting
The voting event for BurnGMT runs from November 21, 2024, to January 20, 2025, lasting a full 60 days! During this time, you can participate in voting by locking GMT tokens to decide whether to burn the 600 million GMT repurchased by the team. Cast your vote!~
II. BurnGMT voting participation and reward mechanism
1 / Voting participation
BurnGMT allows community members to gain voting rights by locking GMT tokens. Participants can receive limited edition NFTs and 100 million $GMT staking rewards corresponding to their voting rights.
2 / Reward distribution
The more you lock, the longer the locking period, the higher the rewards. Rewards will be airdropped uniformly after the 60-day locking period ends.
3 / Conditions that trigger burning
The burning conditions are based on the total locked amount, and the destruction plan is as follows: When 100 million GMT is locked, 60 million tokens will be destroyed from the advisor's share; when 600 million GMT is locked, 170 million tokens will be destroyed from the team's share; when 900 million GMT is locked, 370 million tokens will be destroyed from the investors' share, completing the full destruction. The token destruction operations at each stage are conducted on-chain, ensuring transparency.
III. Unlocking and distribution of GMT tokens
1 / GMT burning and deflationary mechanism
A total of 800 million GMT tokens have been destroyed, accounting for 13% of the total. If another 600 million are destroyed, the total destruction will reach 1.4 billion, further strengthening the deflationary characteristics and increasing the value of each token.
2 / Circulation and usage of unlocked tokens
The current circulating supply accounts for 50% of the total, mainly coming from GameFi and SocialFi rewards, such as the reward mechanisms in STEPN (running to earn application) and Gas Hero, as well as market trading demand, such as NFT transaction fees and cross-chain trading demand. These tokens are dispersed among users, supporting the normal operation of the GMT ecosystem.
3 / Unlocked tokens
Among the unlocked tokens, most of the team's and advisors' shares have been donated to the community fund GMT DAO through repurchase for ecological development, while the unlocked portion of the ecological fund accounts for 27%, which will be gradually released over the next 6 years, mainly for expanding the ecosystem and cooperative projects. Due to the slow release pace, this arrangement helps ease market price volatility pressure and supports the long-term development of the GMT ecosystem.
IV. How to maximize your GMT earnings
After voting, you will receive a commemorative limited edition hat NFT (MGGA). This NFT records your locked amount and corresponding rewards. The official has prepared a reward pool of 100 million GMT; the earlier you lock in, the higher your dividends!
Spot players can enjoy profits from price increases, while futures players can speculate on market fluctuations. While participating in locking, the market profit space is further expanded.
Token burning (BurnGMT) will drive supply reduction and significantly increase price potential. Meanwhile, GMT is steadily expanding its ecological landscape, including STEPN series GameFi products, NFT marketplace MOOAR, cross-chain DEX DOOAR, strategy game GAS HERO, ecological wallet FSL ID, and more.
Three new products will be launched in 2025, and the GMT ecosystem is full of imagination. Additionally, 'BurnGMT' carries Meme attributes and, combined with the health and fitness craze, GMT may expand into health Memes, sports Memes, and even popular DeSci tracks, bringing more possibilities. Participate early, lock in your dividends, and get limited NFTs to grow with GMT in the future!
