What strategic considerations led GMT to take such a drastic action? Is it to reshape the market landscape, or is there a deeper meaning? Next, in thirty seconds, we will unveil the hidden secrets behind the burning of GMT!
BURNGMT voting burning plan. In fact, this is also a brand new attempt. This plan not only allows for locking and earning substantial rewards but also enables voting to decide whether the 600 million GMT will be permanently destroyed. Every participant will become a key force in this community governance while enjoying daily dividend rewards during the locking period. Why participate? How to play? What is the return rate? Below, we will answer these questions one by one.
Why participate in the BURNGMT plan?
1. Direct benefits: 100 million GMT rewards await you to share
During the BURNGMT locking voting period, participants will share 100 million GMT rewards based on their locking proportion. A fixed distribution of 1.67 million GMT daily for 60 days, rewards will be distributed after the locking period ends. Moreover, these earnings will be distributed in GMT; the earlier you participate and lock, the more generous the rewards!
2. Change the market supply structure, increase token value
The 600 million GMT involved in the plan are the unlocked tokens repurchased by the team from early advisors and investors for 100 million USD. If the vote passes, these tokens will be permanently destroyed, reducing the total supply by 10%. For token holders, this undoubtedly enhances the scarcity of tokens, strengthening long-term value.
3. Unique experience of community governance
Through locking voting, every token holder can participate in the decision-making of the token's fate. Every vote you cast can influence the future economic model of GMT and further enhance community identity.
Full analysis of BURNGMT gameplay: Easy to get started
Voting locking mechanism
Locking period: 60 days, until January 20, 2025 (Inauguration Day of the U.S. President).
Locking threshold: A minimum of 100 GMT tokens is required to participate. After locking, you will receive a 'Little Red Riding Hood NFT' as proof of voting pledge.
Reward distribution: A fixed distribution of 1.67 million GMT daily; principal and rewards will be released uniformly after the locking period ends.
Where do the 600 million GMT tokens come from?
These 600 million tokens are the unallocated shares repurchased by the team from early advisors, team members, and investors for 100 million USD. These tokens were supposed to be gradually unlocked in the future, but to alleviate market pressure, the team decided to let the community vote on their fate.
Conditions for triggering burning
According to the rules of BURNGMT.com, when the voting participation reaches a certain threshold, the team will destroy a corresponding number of GMT based on the results. The destruction process is completely transparent and can be verified on-chain.
Current locking return rate
Participating in BURNGMT not only allows you to earn 100 million GMT rewards but also contributes to future market growth.
After locking, the total supply of GMT will be adjusted to:
900 million locked circulating tokens
600 million tokens burning supply and demand pressure
100 million tokens reward driving power
This structural adjustment will further enhance the scarcity of tokens, making long-term investment returns worthy of expectation!
GMT team's strength and ecosystem overview
The team behind GMT has a complete and powerful ecological layout, including multiple products and strategic tools:
STEPN: A globally recognized Web3 healthy lifestyle application, where users earn GMT rewards through exercise.
Dooar: Multi-chain decentralized exchange, Solana's trading volume consistently ranks first.
Mooar: NFT primary and secondary market, supporting multi-chain trading, empowering the GMT ecosystem.
Gas Hero: A strategic GameFi product combining social and strategic gameplay with blockchain technology.
FSL ID: A unified identity authentication system, is an important gateway connecting all FSL ecosystem products.
SUT & Morchi: Lightweight entertainment products and meme coin plans under the brand, injecting more vitality into the ecosystem.
These diversified ecological layouts not only enhance the actual application scenarios of GMT but also provide a solid foundation for the long-term value growth of the tokens.
Unlocking and distribution of GMT tokens
Tokens already destroyed and to be destroyed
Historical tokens destroyed: 800 million, accounting for 13% of the total supply.
To be destroyed soon: 600 million tokens, accounting for 10% of the total supply.
Distribution of unlocked and unlocked tokens
Circulating supply: 1.5 billion, accounting for 50%.
Unlocked tokens: 27%, mainly used for ecosystem fund and team incentives.
M2E Reward Pool: 18%, reserved for exercise rewards like STEPN.
Ecosystem Fund: 9%, supporting future ecosystem expansion and collaborative development.
How to participate in the BURNGMT plan?
Preparing GMT: A minimum of 100 tokens is required to participate in voting for locking.
Choose a platform: Complete operations on the P chain, and after participation, you will receive a 'Little Red Riding Hood NFT' pledge certificate.
Focus on reward distribution: 1.67 million GMT dividends daily, with principal and rewards distributed in one lump sum after locking ends.
Real-time data viewing: You can also log in to BURNGMT.com to check voting details and burning progress.
