Oh my god! Is this going to be a full house?
A total of 6 billion GMT tokens, half locked, half circulating,
On January 20, the GMT token will witness a miracle: lock-up 900 million + destruction 600 million + staking reward of 100 million!
Let’s first analyze the gameplay tutorial of BURNGMT:
(1) Voting lock-up mechanism (one-time lock-up for 60 days until the day Trump is inaugurated (January 20, 2025), principal rewards will be distributed 60 days later. Up to 100 million GMT in rewards, with a fixed daily reward of 1.67 million GMT).
(2) The burned GMT from voting comes from the team spending 100 million USD to repurchase all the shares of unlocked early advisors, teams, and investors totaling 600 million GMT.
(3) The mechanism that triggers burning: after the votes reach a certain number, the team will burn the corresponding GMT (refer to BURNGMT.com rules) website continues to operate.
(4) Return: Lock-up return rate, GMT will turn into lock-up 900 million + destruction 600 million + staking reward of 100 million GMT, the day of the presidential inauguration of the American president.
A closer look at the true intentions behind the actions of STEPN and the GMT team:
First of all, @GMT DAO from the perspective of originality in industry gameplay, this move can be described as a clear and straightforward 'sunshine strategy' — in a nutshell, the official behind GMT wants to use real money to drive the price of the GMT token. In the past markets, there has always been a game of wills among multiple representatives, including
1) The game between on-market and off-market, which involves the contest among holders regarding token lock-up, token spot, and token futures;
2) The game between players and project parties, where one side wants higher returns but cannot unilaterally decide the token supply destruction amount; the other side has lower direct returns at the token level but possesses stronger decision-making power over the token supply destruction amount;
3) The game between short-term DeFi mining profits and believing in projects and their underlying teams, where the former's operation leans towards 'earning and running' and 'selling high to earn forever'; the latter is 'casting a long line to catch big fish', using time to exchange for space.
The gameplay that directly repurchases tokens and transfers decision-making power to community users perfectly solves the 'prisoner's dilemma' in various games — the project party uses real money to reduce token supply and boost token prices, and the community only needs to choose 'Yes/No'.
Undoubtedly, the crypto bull market is still ongoing, and for various player roles in such a volatile risk market, it is necessary not only to grasp short-term risk arbitrage opportunities but also to deeply recognize the value of long-termism; only in this way can one ensure they do not leave the table.
