Let's first understand this project:

  1. STEPN is a move-to-earn sports application, and GMT is its governance token.

  2. STEPN has a long-term partnership with well-known companies such as Casio, ASICS sneakers, Adidas sneakers, etc.

  3. GMT DAO is the ecological fund of GMT tokens.

Now let's talk about this burning event:

  1. The GMT team spent 100 million dollars to purchase 600 million unlocked GMT tokens donated to GMT DAO. Then, GMT DAO initiated the burning activity, allowing users to vote on whether to burn the 600 million GMT tokens donated by the GMT team. Participants in the vote will share 100 million GMT tokens as a participation reward. That's how it is.

How to participate and the rules for participation:

  1. Voting period: 60-day lock-up voting activity from November 21, 2024, to January 20, 2025.

  2. Voting Method: Lock-up voting, minimum one-time lock-up of 100 GMT tokens

  3. About the lock-up return rate: Locking up over 900 million + burning 600 million + staking rewards of 100 million GMT. Interpretation: If the lock-up reaches 900 million, 600 million will be burned and then 100 million will be rewarded. This ratio is 9:6:1. For example, if the total lock-up is 900 million and you lock up 900 tokens, the final reward will be 100 tokens.

That's how it is, everyone decides whether to participate based on their own situation. Thank you all for browsing 🌹

#GMT投票燃烧计划

$GMT