The Current price is $0.244984
The @GMT DAO BURNGMT event on Binance is a community-driven initiative involving the token GMT (Green Metaverse Token), associated with the STEPN ecosystem.@STEPN | Public Beta Phase VI It enables participants to lock their GMT tokens to vote on governance decisions, primarily related to token burning.
Here's how it works:
1. Token Burning and Supply Impact:
The program involves locking up and burning significant amounts of GMT to reduce circulating supply. This deflationary approach is intended to stabilize and potentially increase GMT's market value over time. For example, a substantial amount of GMT from early investors and team allocations is allocated for burning .
2. Voting and Rewards:
By locking GMT tokens, users gain voting shares to decide the fate of repurchased tokens. Participants receive rewards, including a share of 100 million GMT tokens and limited edition NFTs. Rewards are proportional to the amount and duration of locked GMT.
3. Ecosystem Development:
The program aligns with broader efforts to strengthen the STEPN ecosystem and its related products, like MOOAR and DOOAR, ensuring long-term token utility and value.
This initiative reflects GMT's focus on engaging its community in governance while leveraging tokenomics to bolster the ecosystem. If you'd like to participate, check the event details on Binance.
