🚀GMT is making a strong comeback! The Metaverse and blockchain games will reignite the crypto market!
📌The voting period for BURNGMT is from November 21, 2024, to January 20, 2025.
Whose coins are being burned?
The coins being burned are the 600 million GMT tokens previously repurchased by the GMT official team, which primarily come from the unlocked portions of early investors and consultants, as well as some team allocations.
Mechanism that triggers the burn
When the voting shares meet the locked amount thresholds of 100 million, 500 million, and 900 million, the team will trigger the complete destruction of the quotas for consultants, teams, and investors over the next 10 months. The unlocked GMT tokens will be sent to a black hole address for destruction, accompanied by on-chain records.
Voting lock-up mechanism
Users can obtain voting shares by locking GMT tokens on the Polygon chain. This lock-up is a hard lock-up and cannot be unlocked during the voting period. It will only be unlocked after the 60-day lock-up period ends, and the lock-up is only used for voting share distribution.
According to data from the official FSL website, it can be checked that out of the 2.9 billion tokens currently in circulation, nearly 800 million have been burned over the past few years. Based on this BurnGMT plan, 600 million GMT tokens will be burned.
After the voting is successful, the circulating tokens in the market will become scarcer, and the remaining selling pressure will mainly come from the annual 2.5% Move to Earn token rewards and the foundation's token release. If the BunGMT plan voting is successful, the token distribution of GMT will undergo a dramatic change!
Lock-up reaches 100 million within 60 days
Burning 60 million of the consultant quotas to be unlocked in the next 10 months
Lock-up reaches 500 million within 60 days
Burning 170 million of the team quotas to be unlocked in the next 10 months
Lock-up reaches 900 million within 60 days
Burning 370 million of the investor quotas to be unlocked in the next 10 months
GMT has been trading sideways at the 0.15 level for nearly half a year, and with the altcoin season potentially starting at any moment, along with the positive news of burning 600 million GMT with 100 million dollars, it is now the best entry point. Split your positions to buy and wait for the climax of the voting burn.
