The @GMT DAO has introduced a bold new initiative that could have a significant impact on the future of GMT tokens. Known as the $GMT Burn Initiative, this event runs from November 21, 2024, to January 20, 2025, and allows the community to decide whether to burn 600 million GMT tokens—a move worth $100 million. The goal is to reduce the circulating supply of tokens and potentially boost their value in the market.

How Does the Burn Initiative Work?

Token Purchase and Locking: Participants buy GMT, withdraw Polygon GMT to their Little Fox Wallet, and stake it at burngmt.com.

Voting Power: Users lock their tokens and vote to burn the allocated 600 million GMT.

Rewards: Participants share a reward pool of 100 million GMT, distributed daily. Each day at 8 a.m. Hong Kong time, interest is calculated, and rewards are divided based on the total staked amount.

What Does This Mean for GMT Tokenomics?
Burning 600 million GMT, a significant portion of the token’s total supply, could create scarcity, a classic driver for increasing token value. These tokens include allocations for early advisors, team members, and investors that remain locked, ensuring the burn aligns with enhancing trust and value in the ecosystem.

Why Participate?
Earn Daily Rewards: By staking tokens early, participants earn higher rewards. A daily pool of 1.66 million GMT is distributed based on staking amounts and duration.

NFT Perks: Voters receive an exclusive Little Red Riding Hood NFT for participating.

Support Ecosystem Growth: Voting contributes to the long-term stability of GMT, which powers platforms like STEPN, MOOAR, and operates on BNB Chain, Ethereum, Solana, and Polygon.

Will It Pump the Price?
A token burn often has a positive impact on price due to reduced supply, but success depends on multiple factors, such as market sentiment, adoption, and utility of the token. The GMT Burn Initiative not only reduces supply but also demonstrates strong community engagement and ecosystem development, which are key indicators of long-term growth.

How to Join?

Buy and Withdraw: Purchase GMT and withdraw Polygon GMT to Little Fox Wallet.

Stake and Vote: Visit burngmt.com, connect your wallet, and vote. A minimum of 100 GMT is required to participate.

Claim Rewards: Earn rewards daily until the tokens unlock at 0:00 UTC on January 20, 2025.

Final Thoughts
The GMT Burn Initiative offers a rare opportunity to contribute to the project’s future while reaping tangible benefits. With its potential to boost token value and reward participants, this initiative could indeed make GMT more valuable and stable in the long run.

Join the movement today at burngmt.com.
#BURNGMT