Another small pullback, recovering all of yesterday's decline, the market continues to play music and dance. Unlike the previous independent market of Bitcoin, there is now a new rotation of sectors, the funds of the dog meme are starting to show signs of fatigue, and the old counterfeit coins are emerging. Besides the DeFi sector, I suggest everyone pay attention to another sector: Binance ecosystem.
There are many in the Binance ecosystem, and you can explore them yourself. Generally, there are several ways, such as projects based on the BSC mainnet, projects invested in or even created by Binance, or projects issued through Launchpad. Today, I will focus on introducing a popular project that was once launched on Binance Launchpad: $GMT.
If you might have forgotten about GMT, you definitely know STEPN, the running shoe project that once swept the entire crypto circle, which almost delayed the previous bull market and GameFi trend by half a year. It is one of the rare phenomenon-level projects in the crypto space, and GMT DAO is the fund of this project, with GMT being the ecological token. Besides STEPN, GMT is also used for trading NFTs and other strategic GameFi usage scenarios.
The reason why GMT is worth paying attention to is on the one hand its launch on Launchpad, which somewhat represents Binance's past attitude towards this project, and on the other hand GameFi, which was once highly valued by various capital but has not rotated in this bull market. Finally, it is worth mentioning that the GMT DAO team repurchased 600 million GMT that should have been unlocked and flowed into the market from investors and consultants, and launched a burning mechanism for the community.
Users can choose to lock GMT to vote on the final amount of GMT to be burned:
🔥 Locking GMT reaches 100 million, burning 60 million GMT
🔥 Locking GMT reaches 500 million, burning 230 million
🔥 Locking GMT reaches 900 million, burning 600 million GMT
In return, all participants who lock GMT to vote will share a reward of 100 million GMT according to the proportion of their locked amount. From November 21, 2024, to January 20, 2025, there will be a total of 60 days of locking votes. If the 600 million destruction target is achieved, only 27% of GMT will remain unlocked in the next six years, reaching a fully circulating state.
According to data from Coingecko, GMT is currently circulating nearly 3 billion in the market. This time, if the community's goal is to destroy 600 million, there will be over 900 million locked. Ideally, in the short term, 30-50% of the liquidity will be locked, which will greatly boost the price and market value of a project. The current actual locking has reached 168 million, which means the preliminary goal of destroying 60 million GMT has been achieved. If the destruction and locking trigger market FOMO, this is a project worth participating in. Of course, if you are worried about the significant impact on price after unlocking, you can also use our hedging strategy, which we have played quite a bit.
This article does not constitute investment advice, DYOR. Finally, thanks to @GMT DAO for the sponsorship support, #GMT投票燃烧计划
