In the blockchain world, there are always some projects that write history in an amazing way, and STEPN is undoubtedly one of them.
From the disruptive Move-to-Earn model to the current full-scale promotion of the deflationary token economy, STEPN has once again become the focus of market attention. This time, it will repurchase 600 million GMT through 100 million US dollars and let the community decide the final fate of these tokens. What is the logic behind the destruction plan?
Could this unprecedented vote push GMT to another all-time high?
Today, we will discuss together this drama known as "open conspiracy to pull the market"!
Strong support from STEPN ecosystem
The price of GMT is not only supported by market circulation, but also by the rich ecological layout of the STEPN team, which provides strong value support for the token:
Cross-chain DEX Dooar
NFT Marketplace and Launch Platform Mooar
Move-to-Earn Fitness App STEPN
链游 Gas Hero、Morchi
FSL ID Identity System
meme coin SUT
Such a diversified product ecosystem is an important reason why GMT can remain strong in the fierce market competition.
Detailed analysis of the 600 million GMT destruction plan!
This burning plan is another big move by STEPN. The team spent $100 million to buy back 600 million GMT and plans to decide its fate through voting.
1. Voting time
November 21, 2024 - January 20, 2025
During this period, users can participate in voting by locking GMT tokens on the Polygon chain.
2. Locking and Reward Mechanism
Users who lock up tokens to vote can share a total of 100 million GMT rewards, with 1.67 million GMT distributed every day.
The lock-up period is 60 days, and the principal and rewards will be unlocked and distributed after the voting is over.
3. Mechanisms that trigger combustion
After the voting reaches the established threshold, the team will destroy 600 million GMT according to the rules. All processes are open and transparent, and users can check them on the official website.
The market significance of the burning plan GMT's economic model has always been centered on the deflation mechanism, and this burning plan has further strengthened this feature:
· Destroyed in the past: 800 million GMT
Current circulation: 3 billion GMT
· Future planned destruction: After this 600 million GMT voting destruction, the total circulation will be reduced to approximately 1.6 billion.
The direct effects of the destruction plan are:
Supply reduction: The circulation volume will be cut by half, and the supply and demand pattern will be further optimized.
Value enhancement: The scarcity of tokens increases, and the price has the potential to double.
Farewell to VC Coin: Towards Full Circulation After destroying 600 million GMT, the market will no longer be affected by the selling pressure of early investors, consultants and team unlocked shares.
After this, GMT will become the first Binance Launchpad token to achieve full circulation.
The remaining release pressure comes only from Move-to-Earn incentives and the foundation, with inflation of less than 5% per year.
Players can adopt the following strategies in the face of this burning plan:
Short-term strategy:
Buy spot GMT and profit from rising prices.
You can sell at any time and respond flexibly to market fluctuations.
Mid-term strategy:
Lock up some GMT to participate in voting and earn voting dividends.
At the same time, according to market conditions, sell spot goods at the right position to make a profit.
Long-term strategy:
Lock up your position to participate in voting and hold GMT for a long time to enjoy continuous returns and market appreciation.
Locked players can increase the number of tokens by earning rewards, while spot players can make profits at any time when the token price rises, achieving a win-win situation.
Market Background and Investment Opportunity As the price of Bitcoin approaches $100,000, market funds are gradually overflowing, and the altcoin market is ready to take off.
GMT has been trading sideways in the current price range for nearly half a year. Combined with the good news of the destruction of 600 million GMT for US$100 million, it has provided the market with a clear investment signal.
For investors who are optimistic about this plan, buying GMT in batches and waiting for the climax of the destruction vote may be an excellent strategy.
The opportunity is now!
STEPN launched this unprecedented token burning plan with 100 million US dollars. Community members can not only decide the fate of 600 million GMT through voting, but also directly obtain high rewards from it.
As the market's recognition of the deflationary token model increases, the future value of GMT may usher in a new round of explosion. Now, seizing this opportunity of "openly pulling the market" may be the best time to control future wealth!
