The voting burn mechanism introduces an innovative approach to tokenomics. Holders of GMT (Green Metaverse Token) actively shape the ecosystem by participating in voting events, where their staked tokens represent influence. The 60-day lock ensures a time-locked commitment, stabilizing market dynamics while amplifying user involvement. When users lock GMT tokens for voting, the protocol allocates portions of a 100M GMT reward pool as an incentive, rewarding long-term engagement and active governance. This creates a cyclical relationship between token usage and rewards.
Tokenomics and Burn Impact: GMT’s ecosystem revolves around strategic supply management. With a total supply of 6 billion, burning 600M GMT significantly reduces circulating tokens, increasing scarcity and potential value. The burn occurs through mechanisms like community-driven decisions, enhancing deflationary pressure. Analyzing its distribution, GMT is allocated across key areas—community rewards, development, partnerships, and ecosystem growth. The burn directly impacts liquidity, driving demand while simultaneously benefiting token holders who engage in staking or governance.
Participating in the BURNGMT Initiative: To join, users need a wallet holding GMT tokens. Lock a specified amount for a 60-day period through the official voting portal. Once staked, tokens become ineligible for trading but unlock eligibility for reward distribution from the 100M GMT pool. Each burn cycle culminates in proportional reductions of GMT tokens based on community votes, ensuring decentralized decision-making. The BURNGMT initiative aligns economic incentives with community empowerment, offering participants the dual benefit of governance influence and staking rewards.
This approach not only sustains the GMT ecosystem but also cultivates active participation, making token burning a cornerstone of decentralized tokenomics. With such mechanisms, the project effectively balances growth, sustainability, and user value.