I currently have 10,000 GMT locked, earning more than 20 USDT in interest daily. This translates to over 5,000 income in a month.
This proposal @GMT DAO burns 600 million tokens, equivalent to directly burning 10% of the total token supply, worth 900 million RMB!
Many may be unfamiliar with GMT, but STEPN is certainly well-known. This running shoe project, which once swept through the crypto space, postponed the last bull market and GameFi craze by nearly half a year, making it one of the phenomenal projects. GMT DAO is its foundation, and GMT, as the ecological token, is not only used in STEPN but also widely applied in NFT trading and other strategic GameFi scenarios.
Next, let's take a look at the specific situation and why we are doing this.
Analysis of BURNGMT Voting Mechanism
Introduction of Voting Cycles
BURNGMT voting is not a one-time event, but a continuous community participation model. The GMT DAO plans to introduce new proposals and voting cycles every quarter, allowing holders to regularly shape the future of GMT through gmtdao.com. This regular voting mechanism not only invigorates the community but also provides a stable direction for the long-term development of the token, enabling each holder to play a key role in the project's progress.
Operation of the Voting Mechanism
In the BURNGMT plan, the voting time window is fixed, and participants must vote within this period. Each voting cycle typically lasts from several days to weeks, during which users can choose proposals to support. This mechanism ensures that every participant's voice is heard, thus enhancing the sense of belonging and participation among token holders.
Burn Mechanism and Lockup Requirements
During the voting process, users can choose to burn the GMT tokens they hold. The burned tokens primarily come from users participating in the vote, and this mechanism helps reduce the circulating supply in the market, enhancing the token's scarcity. At the same time, participating users must lock up a certain number of tokens to ensure the fairness and authenticity of the voting. This lock-up mechanism effectively prevents malicious voting behavior and enhances the overall trust in the community.
Return Rate
All users who lock up GMT to participate in the vote will share a reward of 100 million GMT proportionally based on the amount locked. If the goal of burning 600 million is achieved, only 27% of GMT related to move2earn and ecological funds will remain unlocked for the next six years, reaching a fully circulating state.
So how strong is the background of the GMT team?
Core Team Composition
The GMT team consists of a group of professionals with extensive experience in blockchain, finance, technology, and marketing. The core members of the team include the CEO, CTO, CMO, among others, each of whom has achieved significant accomplishments in their respective fields. The CEO has over 10 years of experience in the financial industry, focusing on strategic planning; the CTO has played key roles in several large-scale blockchain projects, responsible for technical architecture design; the CMO focuses on brand promotion and community building.
Industry Experience and Achievements
In addition to core members, the GMT team also has an advisory team composed of industry experts providing technical and legal support. Team members have participated in several successful blockchain projects, including well-known projects like STEPN, accumulating rich industry experience and technical expertise. This diverse background gives the GMT project a strong competitive advantage in technical development, market promotion, and community operations, ensuring the project's sustainable development and innovation.
Understanding
The GMT project, through its unique BURNGMT voting mechanism, not only enhances community participation but also increases the scarcity and value of the token through token burning and lockup mechanisms. At the same time, the GMT team, with its extensive experience and successful project background in blockchain, finance, and technology, provides a solid foundation for the project's sustainable development and innovation. These factors collectively form the GMT project's strong competitiveness and investment potential.
