🎙️Make $GMT Great Again - GMT DAO
What is GMT DAO burning?
FSL recently repurchased 600 million GMT from advisors and investors—these tokens were originally planned to be redeemed over the next 10 months.
This in itself is big news, but there's more.
The fate of these 600 million tokens is now in the hands of the newly established GMT DAO, an independent community of GMT holders.
What is the first proposal of the DAO? Burn all 600 million!
FSL has eliminated the largest source of selling pressure on GMT, while providing the community with a strong and democratic opportunity to significantly reduce the maximum supply of GMT (approximately 6 billion) by 10%.
Regardless of the purpose, GMT will soon be regarded as fully circulating.
This is good news for GMT holders, investors, and traders. 💸About 10 days ago, the unlocking of GMT did not flow into the market, later it was revealed that the FSL team repurchased about 600 million GMT tokens unlocked by investors and advisors and voluntarily transferred them to GMT DAO.
Burning Milestone📮Now the burning rights of these tokens have been handed over to the DAO, as long as members of the GMT DAO lock GMT in the short term, they can participate in voting to decide the amount to be burned. This bold move reinforces GMT's vision for decentralization and long-term sustainability:
🔥Lock GMT up to 100 million, burn 60 million GMT;
🔥Lock GMT up to 500 million, burn 230 million GMT;
🔥Lock GMT up to 900 million, burn 600 million GMT.
Potential Impact:
Short-term: High APR attraction, potentially reaching 500%+
Long-term: Total supply reduction, potential value increase
Ecosystem: Enhance community engagement, lay the foundation for DAO governance
🎁Voting Reward:
🔰Receive the 'Make GMT Great Again' NFT
🔰100 million GMT will be allocated to NFT holders according to the locked ratio
📅Locking period: Lock from today until January 20, 2025
⏰Reward distribution: The day after the 'Burn GMT' event ends, users will receive GMT for voting and GMT for participation rewards
⚠️Note:
💠GMT DAO is responsible for managing the GMT ecosystem fund and executing decisions based on the voting results of GMT holders;
💠GMT DAO is not affiliated with FSL and its related brands (including STEPN, MOOAR, DOOAR, and Gas Hero).
💠Players with proposals related to GMT governance can send them to hello@gmtdao.com
