Today I finally figured out
Why there are so many account screenshots in the square showing hundreds of thousands U, even millions U.
Do you think they made it by trading cryptocurrencies? In fact, such cases are rare. As far as I know, many of them are earned through exploiting opportunities. I initially didn’t believe it, until I encountered a big shot voting in GMT staking, receiving rewards of over 500 U daily, which completely overturned my understanding!
I spent half an hour figuring out the voting mechanism for GMT staking, and now I’ll explain it to everyone.
Participation method: Users lock their GMT tokens to participate in voting. Each voting will lock a certain number of GMT, and then distribute rewards from the pool of GMT based on the voting ratio and contribution size.
Reward distribution: The final GMT rewards are based on the user’s voting percentage. The more votes, the higher the percentage, the more GMT rewards you will receive.
2. What is the time limit?
Each voting round has a strict time limit. The start and end times of the voting are announced in advance by the project team.
Users must complete the locking and voting operations within the specified time; votes cast after the time limit are invalid.
3. Whose tokens are burned?
The burned GMT comes from the part that users actively locked.
The GMT locked during voting may partially or fully be triggered for burning by the smart contract, meaning voters have to bear a certain risk of token consumption.
4. What is the mechanism that triggers the burn?
The total voting amount reaches a certain value;
The number of votes for a certain option exceeds the set threshold;
At the end of the time window, the system triggers the burn according to the voting results.
5. What is the voting locking mechanism?
Locking requirement: Users must lock a certain number of GMT tokens when participating in voting. The locked tokens cannot be transferred or traded before the activity ends.
Locking period: The specific locking period is set by the project team, which may be as short as several days or last until all rewards are distributed.
6. What is the return rate?
Individual voting volume ratio: The larger the total voting volume, the smaller the individual user’s voting ratio, and the rewards distributed will correspondingly decrease.
Total locked and burned amount: If more GMT is burned, the value of the remaining GMT may increase, thereby indirectly raising the return rate.
