Have you paid attention to the project? In this fiercely competitive cryptocurrency world, how does the GMT project stand firm in the market? What is the strength behind the GMT team? And how does the much-anticipated BURNGMT voting event operate? Will it bring significant impacts to the market? With these questions in mind, let’s explore together.
GMT Team Strength
Professional Background and Experience: Most team members come from blockchain, fintech, gaming, and other fields, possessing rich industry experience and expertise. They have participated in the development and operation of several well-known projects, accumulating valuable practical experience in technology research and development, product design, and market promotion, enabling them to provide comprehensive support for the development of the GMT project.
Technical Strength: Team members possess strong technical capabilities, proficient in blockchain, game development, and other related technologies. In 2021, this team won the Solana Hackathon in the 'Game Track' and is also part of the DeFi Alliance gaming queue, demonstrating its capabilities in technological innovation and application.
Innovation Capability: Focus on technological innovation and business model innovation, continuously exploring the integration of blockchain with other fields. In the gaming sector, the team combined blockchain technology with traditional gameplay to launch the world's first NFT game that allows users to earn while exercising, STEPN, pioneering the 'Move to Earn' model, merging exercise with blockchain gaming, attracting a large number of users and rapidly igniting the market, winning the favor of a broad user base. Now they will attempt to create a Guinness World Record for the most users completing a mile distance within 24 hours. Quite crazy!
Project Promotion and Execution Capability: The STEPN team is continuously exploring and expanding new projects and collaborations. For example, in 2024, they launched the fitness social application STEPN GO, introducing shoe lending, a new token GGT, stamina mechanisms, and social interaction map features; they also developed a public testing version of a new game Gas Hero, which is established on Polygon and uses GMT as the in-game currency without issuing new tokens. Additionally, the team led the investment in the Mythos project, actively laying out and expanding its business in the blockchain gaming sector.
BURNGMT Voting Gameplay
Voting Time: The voting period for BURNGMT is from November 21, 2024, to January 20, 2025.
Participation Method: Users can obtain voting shares by locking GMT tokens on the Polygon chain. The larger the locked amount and the longer the lock duration, the more voting shares they correspondingly receive. Specifically, locking for 1 month grants 1x voting share, locking for 2 months grants 1.5x voting share, and locking for 3 months grants 2x voting share.
Trigger Mechanism: When the voting share reaches the thresholds of 100 million, 500 million, and 900 million locked tokens, it will trigger the team to burn all the quotas of advisors, team members, and investors over the next 10 months. The unlocked GMT tokens will be sent to a black hole address for destruction, accompanied by corresponding on-chain records.
Reward Mechanism: Users participating in the voting have the opportunity to share a total of 100 million GMT in additional rewards. The reward distribution is related to the amount of GMT locked and the duration of the lock. The larger the locked amount and the longer the duration, the more corresponding token rewards. Additionally, the smaller the total daily locked amount of GMT, the more GMT token rewards a single user can share. The final rewards will be airdropped after the 60-day lock period ends.
Impact of BURNGMT Voting on the Market
Early Impact:
Market Confidence Boost: This will send a signal to the market that the project team is actively governing and committed to enhancing token value, helping to boost investor confidence in the GMT project. The increase in confidence may attract more new investors to enter the market, further driving up the price of GMT tokens and enhancing their visibility and influence in the cryptocurrency market.
Increased Ecosystem Activity: The voting activity itself will also spark community participation enthusiasm, enhancing the activity level of the GMT ecosystem. As users participate in voting and locking, they will pay more attention to the project’s development dynamics and actively engage in community discussions and governance, which is conducive to forming a good community atmosphere and consensus, promoting the healthy development of the GMT ecosystem. Moreover, to obtain more voting shares and rewards, some users may increase their holdings of GMT tokens, thereby boosting the market demand and circulation speed of the tokens.
Later Returns:
Token Value Reassessment: If the proposal to burn 600 million GMT tokens is ultimately approved and implemented, it will significantly reduce the circulating supply of the tokens. According to the economic principle of supply and demand, a decrease in supply, while demand remains constant or increases, will lead to an increase in the scarcity of the tokens, thereby driving their value reassessment, potentially maintaining an upward trend in the price of GMT tokens in the long term, providing higher investment returns for holders.
Project Development Opportunities: The BURNGMT voting and its subsequent burning plan demonstrate the GMT team’s determination and planning capability for the sustainable development of the project. This initiative helps optimize the project’s economic model and enhances the intrinsic value of GMT tokens, attracting more resources and cooperation opportunities for future project development. With the increase in token value and the continuous improvement of the project ecosystem, GMT is expected to occupy a more significant position in the blockchain field, achieving broader applications and promotion.
In summary, the GMT team possesses strong capabilities, and the BURNGMT voting gameplay is uniquely designed and attractive. Its impact on the market varies in the early and later stages, but overall, it is expected to bring a positive driving effect to the GMT project and the market.
