As the first sports-type token recognized by Binance, GMT has been making moves recently. The recently launched BURNGMT voting mechanism is analyzed in this article, including the logic of making money and some data support.
#GMT投票燃烧计划 $GMT
1. Time requirements
Voting will take place from November 21, 2024, to January 20, 2025, lasting 60 days. These rewards will be distributed according to the proportion of GMT you locked for voting. Any GMT locked before UTC 24:00 on any day will count towards that day's rewards. Those who lock up GMT will share participation rewards. You will receive your voting GMT and participation reward GMT the day after January 20, 2025. After the destruction of GMT activity ends, you can choose to continue using the locked GMT to vote on other plans and receive ongoing participation rewards.
2. Where do the destroyed coins come from?
The GMT team donated 600 million GMT to GMT DAO after repurchasing the unlocked GMT from investors and advisors. BURNGMT is initiated by GMT DAO, where users can vote on whether to burn these 600 million GMT, and will share 100 million GMT as participation rewards during the voting process. In this way, in the next six years, only 27% of the move2earn and ecological fund will be unlocked, achieving a state of full circulation.
This means that the destroyed coins come from GMT team's repurchase of tokens from investors and advisors.
3. Mechanism for triggering burning
The locked GMT amount reaches 100 million: Destroy the GMT belonging to the advisors. This means that if community members collectively lock up 100 million GMT, the GMT DAO will destroy the GMT tokens belonging to the advisor team.
The locked GMT amount increases by 500 million (cumulative locked amount reaches 600 million): Destroy the GMT belonging to the team. When the locked amount reaches 600 million, the GMT DAO will further destroy the GMT tokens belonging to the team members.
The locked GMT amount increases by 300 million GMT (cumulative locked amount reaches 900 million): Destroy all repurchased GMT tokens, totaling 600 million. If the locked amount of community members ultimately reaches 900 million, the GMT DAO will destroy all 600 million GMT tokens that have been repurchased.
4. What is the voting lock-up mechanism?
Based on your voting share and the GMT DAO's destruction rules, you will have the opportunity to receive airdrop rewards. These rewards will be distributed to your wallet in the form of GMT tokens. Please check the official announcements and airdrop distribution schedule from GMT DAO to ensure you can receive your rewards on time.
5. What is the return rate?
Currently, if you stake 10,000 coins in a day, you can receive 200 coins, with a daily yield rate of around 2%! This translates to an annualized rate of approximately 730%, which is quite good!! I suggest everyone participate.
Moreover, after the destruction, the actual circulating tokens in the market will decrease, allowing holders' tokens to upgrade, somewhat similar to an upward double helix mechanism.
The more destroyed, the higher the yield; it's really explosive.
6. Suggestions
1) It is recommended that all holders participate in the voting, as it is beneficial with no disadvantages.
2) The secondary market will also perform well in the near future, everyone can pay attention.
3) Continue to have a long-term outlook on the development of sports-related web3 projects! Teaching the new gameplay of the first Binance-recognized sports-type token GMT.
Crypto Haha Brother
23 hours ago
As the first sports-type token recognized by Binance, GMT has been making moves recently. The recently launched BURNGMT voting mechanism is analyzed in this article, including the logic of making money and some data support.
#GMT投票燃烧计划 $GMT
1. Time requirements
Voting will take place from November 21, 2024, to January 20, 2025, lasting 60 days. These rewards will be distributed according to the proportion of GMT you locked for voting. Any GMT locked before UTC 24:00 on any day will count towards that day's rewards. Those who lock up GMT will share participation rewards. You will receive your voting GMT and participation reward GMT the day after January 20, 2025. After the destruction of GMT activity ends, you can choose to continue using the locked GMT to vote on other plans and receive ongoing participation rewards.
2. Where do the destroyed coins come from?
The GMT team donated 600 million GMT to GMT DAO after repurchasing the unlocked GMT from investors and advisors. BURNGMT is initiated by GMT DAO, where users can vote on whether to burn these 600 million GMT, and will share 100 million GMT as participation rewards during the voting process. In this way, in the next six years, only 27% of the move2earn and ecological fund will be unlocked, achieving a state of full circulation.
This means that the destroyed coins come from GMT team's repurchase of tokens from investors and advisors.
3. Mechanism for triggering burning
The locked GMT amount reaches 100 million: Destroy the GMT belonging to the advisors. This means that if community members collectively lock up 100 million GMT, the GMT DAO will destroy the GMT tokens belonging to the advisor team.
The locked GMT amount increases by 500 million (cumulative locked amount reaches 600 million): Destroy the GMT belonging to the team. When the locked amount reaches 600 million, the GMT DAO will further destroy the GMT tokens belonging to the team members.
The locked GMT amount increases by 300 million GMT (cumulative locked amount reaches 900 million): Destroy all repurchased GMT tokens, totaling 600 million. If the locked amount of community members ultimately reaches 900 million, the GMT DAO will destroy all 600 million GMT tokens that have been repurchased.
4. What is the voting lock-up mechanism?
Based on your voting share and the GMT DAO's destruction rules, you will have the opportunity to receive airdrop rewards. These rewards will be distributed to your wallet in the form of GMT tokens. Please check the official announcements and airdrop distribution schedule from GMT DAO to ensure you can receive your rewards on time.
5. What is the return rate?
Currently, if you stake 10,000 coins in a day, you can receive 200 coins, with a daily yield rate of around 2%! This translates to an annualized rate of approximately 730%, which is quite good!! I suggest everyone participate.
Moreover, after the destruction, the actual circulating tokens in the market will decrease, allowing holders' tokens to upgrade, somewhat similar to an upward double helix mechanism.
The more destroyed, the higher the yield; it's really explosive.
6. Suggestions
1) It is recommended that all holders participate in the voting, as it is beneficial with no disadvantages.
2) The secondary market will also perform well in the near future, everyone can pay attention.
3) Continue to have a long-term outlook on the development of sports-related web3 projects!