Hye Binance User.....
The BURNGMT initiative on Binance is part of the STEPN project's strategy to involve its community in governance and reduce the total supply of GMT tokens, enhancing their scarcity and potential value. This initiative allows GMT holders to lock their tokens for 60 days and participate in voting on burning up to 600 million GMT tokens, which would represent approximately $100 million in value.
Key Details:
1. Voting and Rewards:
Users who lock more tokens and for longer periods earn a larger share of a 100 million GMT reward pool.
Participants receive a "Make GMT Great Again" (MGGA) NFT as proof of participation and rewards tracking.
2. Deflationary Effect:
Burning 600 million tokens would significantly reduce GMT's circulating supply, increasing its scarcity and potentially boosting its market value.
3. Community Governance:
The initiative emphasizes decentralized decision-making, giving holders a direct role in shaping the ecosystem's future.
4. Lock-Up Mechanism:
Locked tokens cannot be withdrawn during the 60-day period, ensuring sustained participation and reducing market selling pressure temporarily.
Participation:
Holders must connect a Web3 wallet (like MetaMask) to the BURNGMT platform and have sufficient GMT tokens and MATIC for transaction fees. Real-time updates on rewards and voting progress are available on the platform.
For more detailed guidance or to participate, visit BURNGMT's official page.
