Here are#GMT投票燃烧计划 All the details of the event, including activity rules, project background, and token economy, help you grasp opportunities and risks by sorting out clues.
GMT DAO has launched a GMT staking reward system and can decide whether to burn GMT tokens bought back from investors and advisors. This GMT voting and burning plan can not only reduce the selling pressure caused by token unlocking, but also bring benefits to the locked GMT.
Event Details
Background: The FSL team has bought back all investors’ and advisors’ GMT tokens and voluntarily transferred them to the GMT DAO, totaling 600 million tokens.
Time: November 21, 2024 to January 20, 2025
Rules: Participate in voting by staking GMT to support whether to burn or not. Different lock-up amounts determine different burn amounts. When 100 million GMT are locked, 60 million GMT can be burned; when 500 million GMT are locked, 230 million GMT can be burned; when more than 900 million GMT are locked, 600 million GMT can be burned.
award:
As a reward for locked tokens, 100 million GMT from the ecological fund will be divided among users who participate in the token locking according to the daily locked quantity.
These 100 million tokens will be divided up daily within 60 days, and 1.666 million GMT will be divided up daily according to the lock-up ratio.
As of now, users who pledged on 2024-11-21 have achieved a coin-based return of approximately 9.77%.
From Gamefi to DAO
When mentioning the GMT token, we have to mention the legendary deeds of StepN in the blockchain industry. GMT first appeared as StepN's ecological governance token. It is not only because of StepN's advantages in data performance, but also because StepN uses excellent token economy and gameplay to bring a large number of users into the blockchain industry, creating an unprecedented phenomenon.
StepN is a Web3 application that combines Game-FI and Social-Fi elements. It aims to motivate users to exercise daily by combining exercise with cryptocurrency rewards. After users purchase virtual running shoes NFT in the app, they can get token rewards issued by the platform through actual walking or running activities.
In December 2021, StepN launched its beta version and began to attract early users. It has more than 5.6 million registered users, covering more than 200 countries, and more than 1 million daily active users. Although it has become normal for mini apps based on Telegram and Ton to gain millions of users this year, in 2022, with the overall market down, the national sports trend set off by StepN has injected a shot in the arm for the market.
In 2022, GMT was launched as a Binance Laucnpad project, and its secondary market price increased by more than 20 times.
Since then, an ecosystem with GMT as the core has been gradually built, which continues to give value to GMT:
STEPN GO: Building on the success of STEPN, STEPN GO revolutionizes social fitness in everyday life.
Dooar: A multi-chain decentralized exchange
MOOAR: A marketplace for making and trading NFTs
GASHERO: A strategic and social web3 game
FSL ID ：FSL IDIsFind Satoshi Lab (FSL)The Web3 identity system launched
Optimizing Token Economy
The total amount of GMT is 6 billion, and 3 billion are currently in circulation. The 600 million tokens destroyed in this activity are the tokens that the FSL team uses to buy back all investors and consultants.
According to the token unlocking situation, if there is no token burning plan, 1.54% of the maximum supply will be released every month. The current GMT circulation is 3 billion. According to the previous token release situation, the annualized inflation rate is 38.96%, most of which come from early investors, teams and consultants.
In the long run, this token destruction activity will undoubtedly consolidate the value of $GMT . GMT has responded to the current anti-VC sentiment in the market by buying back and destroying the tokens held by consultants and investors.