By the way, I have a bias against #stepn . In 2021, I spent nearly 1000 USD to buy 2 STEPN shoe NFTs, and I haven't recouped my investment until now.
Even during the booming gamefi market back then, I did not earn money in STEPN, let alone now.
Recently, GMT DAO launched a writing activity on Binance Square around #GMT投票燃烧计划 theme, and I plan to learn more about STEPN to find opportunities.
GMT DAO is created and served by GMT holders. It manages the GMT ecological fund through on-chain voting, ensuring decisions are executed based on the collective opinions of the community.
STEPN is a product under GMT, which has remained active since its boom in 2021, and the project has not gone to zero.
New gameplay has also been launched.#STEPNGO , continuously allowing players to earn $GMT tokens through running, achieving run to earn profits.
What is STEPN GO?
STEPN is a web3 project that became popular in 2021. Players buy game running shoe NFTs and earn GMT tokens by running and consuming energy, achieving run to earn.
STEPN GO is a Web3 lifestyle application that has social and gaming modules, aiming to connect global players, keep in touch with friends and family, and maintain a positive lifestyle.
Currently, STEPN GO is an invitation-only system, players need to obtain an invitation code to start running and earning money. Invitation codes can be obtained through official media released periodically or shared by early players.
What is the GMT voting burn plan?
FSL (Find Satoshi Lab) spent 100 million USD to repurchase 600 million GMT tokens from early advisors and investors, and transferred the disposal rights of these tokens to GMT DAO.
The first proposal from GMT DAO was to burn 600 million GMT, but the final burn amount depends on the number of GMT locked by the community.
In addition, GMT DAO will allocate 100 million GMT from the ecological fund as voting rewards, airdropping to users based on the amount of GMT locked.
The earlier users stake and vote, the more rewards they will receive in the future.
How to participate in the BURNGMT voting burn plan?
BURNGMT (burngmt.com) uses a voting lockup mechanism, locking up for 60 days at once, with principal rewards issued after 60 days, accumulating up to 100 million GMT rewards, distributing a fixed reward of 1.67 million GMT daily.
Users who participated in staking and voting early will receive more GMT that is distributed daily.
At the same time, #BURNGMT also triggers the burn mechanism; when the voting reaches a certain number, the team will burn the corresponding GMT.
If community users lock up 100 million GMT, then 60 million GMT will be burned; if 500 million GMT is locked, then 23,000 GMT will be burned;
If 900 million GMT is locked, then the 600 million GMT bought back will be burned.
Currently, the GMT voting burn plan has locked up over 180 million GMT, with voting continuing from November 21 to January 20, 2025.
Voting takes place on the Polygon network, and a minimum of 100 GMT is required to participate in voting and receive an NFT staking certificate.
If one is optimistic about the future development of STEPN GO, it is believed that GMT may also achieve a good return rate.
After all, not every project can reach the popularity of STEPN, with over 5.6 million global users covering more than 200 countries, and at its peak, the daily active users exceeded 1 million.
As the bull market approaches, there will definitely be new web3 projects that become popular.
STEPN GO integrates health, gaming, and social elements, with a simple participation method and lower threshold, making it more likely to attract web2 users to participate in web3 projects, achieving more players to run to earn.
Only with a wealth effect can it break out, and projects that can make money will attract more new users. I believe GMT may also achieve new breakthroughs in the next bull market.
