Recently, GMT has been very active, with the 600 million GMT repurchased ready to be destroyed through voting, while participants in the voting will also receive GMT rewards, totaling 100 million, with those participating earlier receiving more.

Under the principle of decentralized decision-making, $GMT GMT (Stepn token) has launched a new destruction voting activity aimed at reducing the total supply of GMT and increasing the market value of GMT by destroying part of the repurchased tokens. However, achieving this goal relies on the active participation of community users. This article will explore how this activity works, how to participate, and its impact on the future potential of GMT.

Activity Overview

This GMT destruction voting activity provides users with the opportunity to participate, allowing participants to lock GMT tokens to gain voting shares and decide whether to support the destruction of repurchased GMT tokens. The higher the locked amount, the larger the share of destroyed GMT tokens. The specific activity arrangements are as follows:

The locked amount of GMT reaches 100 million: GMT tokens belonging to the destruction consultant.

The locked amount of GMT has increased by 500 million (total locked amount reaches 600 million): GMT tokens belonging to the destruction team.

The locked amount of GMT increases by another 300 million (total locked amount reaches 900 million): all repurchased GMT tokens destroyed, totaling 600 million.

By locking and voting, participants will also receive limited edition hat NFTs ('Make GMT Great Again'), symbolizing their participation while recording the locked amount and reward quantity. Users who lock their tokens earlier will receive more GMT rewards, and the yield will also increase accordingly.

Market impact of the destruction activity

The destruction plan for GMT not only enhances the token's scarcity by reducing the supply but also provides profit opportunities for spot and futures players. Spot players can benefit from the rise in GMT prices, while futures players can earn profits through market speculation. Furthermore, as the supply continues to decrease and prices rise, the ecosystem behind the GMT token will also expand further.

Currently, GameFi products like STEPN and STEPN GO are still running stably, and a series of products such as the multi-chain NFT market MOOAR and cross-chain DEX DOOAR provide users with diverse choices. As the supply of GMT tokens decreases and prices rise, the ecosystem map behind GMT may further unfold. The official plan is to launch three new products by 2025, which undoubtedly adds more imaginative space for GMT's future.

The Meme potential of GMT

"BurnGMT" as a slogan itself has Meme attributes, especially in the field of sports and health. With the rapid development of the cryptocurrency industry, GMT has the opportunity to horizontally expand into 'health Meme', 'sports Meme', or even 'Desci track Meme coin'. This direction not only helps enhance GMT's market attention but also enriches GMT's ecosystem further.

Internationalization and Brand Collaboration

The STEPN team behind GMT is continuously expanding its influence globally. For example, STEPN has a strong user base in Japan, and the related team has performed excellently in Japanese marathon events. Additionally, STEPN has partnered with several top international brands and well-known IPs, such as Asic, Adidas, Casio, and Ghost in the Shell, which provides strong brand endorsement and market promotion for GMT.

Market prospects for GMT

According to market data, the current market capitalization of GMT is approximately $490 million, which is significantly undervalued compared to its peak market capitalization of $2.3 billion. As the market warms up, especially with Bitcoin's recent price breaking $93,000, the crypto bull market continues, and GMT is also expected to welcome a new round of explosive growth.

Conclusion

This GMT destruction voting activity is a long-term strategy of STEPN and its underlying team, aiming to carve out a unique development path through innovative gameplay and community support. By reducing supply, increasing demand, and expanding the ecosystem, GMT can not only increase its coin price in the short term but also bring more long-term value to community members. Amidst the volatility of the cryptocurrency market, GMT is expected to become an important highlight, attracting more users to participate and collectively explore a broader future.#GMT投票燃烧计划 @GMT DAO $GMT