Overview of the GMT Voting Burn Plan
The GMT Voting Burn Plan (BurnGMT) is a new voting platform launched by the GMTDAO Eco Fund, aimed at driving up the price of GMT tokens through community participation. The plan allows users to vote on whether to burn 600 million GMT tokens repurchased by the team by locking GMT tokens on the Polygon chain between November 21, 2024, and January 20, 2025. Users who participate in the voting can also receive additional GMT rewards totaling up to 100 million tokens to encourage community involvement.
Why participate in the BURNGMT plan?
1. Price Increase Expectation: By burning a large number of tokens, the circulating supply in the market can be reduced, potentially leading to an increase in token prices.
2. Reward Mechanism: Participants can receive additional GMT rewards, which serve as an extra incentive for GMT holders.
3. Community Governance: By participating in voting, users can directly influence the fate of the tokens, enhancing the sense of community belonging and loyalty.
How to participate in the BURNGMT plan?
1. Locking GMT: Users need to lock a certain amount of GMT tokens on the BurnGMT.com platform.
2. Voting: Users can vote to decide whether to burn 600 million GMT tokens by locking GMT tokens.
3. Earn Rewards: Based on the amount and duration of locked GMT, users will receive corresponding GMT rewards. The rewards will be airdropped after the 60-day locking period ends.
Historical GMT Burn Records
According to the latest on-chain data, the GMT project has cumulatively burned nearly 800 million tokens, accounting for about 27% of its current total circulating supply. This indicates that the GMT team has been consistently reducing the circulating supply in the market through token burns, which may enhance the token's value.
Summary
The GMT Voting Burn Plan (BurnGMT) is a mechanism to drive up the price of GMT tokens through community participation. Participants can vote to decide whether to burn 600 million GMT tokens repurchased by the team by locking GMT tokens and receive additional GMT rewards. Historical data shows that the GMT team has been reducing the circulating supply in the market through token burns, which may have a positive impact on the token's price.
