Hello brothers, I am trader Zhu Yidan. Today, I will educate you about the altcoin GMT. STEPN is a motion application that allows users to earn while moving, and GMT is its governance token. Users equipped with NFT sneakers can participate in outdoor activities to earn token and NFT rewards. STEPN features a built-in wallet, NFT marketplace, exchange, and a leasing system that allows non-crypto users to also use STEPN.
$GMT is a popular project that launched on Binance Launchpad. The GMT DAO is the ecological fund for the GMT token. GMT is widely used by various products, such as in the GameFi product STEPN and STEPN GO, which has over 6 million users, where a large amount of GMT has been used and burned 800 million tokens. STEPN has long-term partnerships with well-known companies such as Casio, ASICS sneakers, and Adidas sneakers. In the cross-chain NFT market and launch platform MOOAR, GMT is used for trading NFTs and for automatically generating NFTs using artificial intelligence. On the cross-chain DEX DOOAR, GMT is used for transaction fees and trading pairs. GMT is also used in other products such as the strategy-based GameFi Gas Hero and the mini-game Morchi. Through FSL ID, GMT is also used by other GameFi projects as a user registration tool and provides the functionality to earn GMT points through interaction, creating a large user base for GMT.
The GMT team donated 600 million GMT to the GMT DAO after repurchasing the unlocked GMT from investors and advisors. BURNGMT is initiated by GMTDAO, where users can decide whether to burn these 600 million GMT through a 60-day locked voting period from November 21, 2024, to January 20, 2025, and will share 100 million GMT as a participation reward during the voting process. In this way, only 27% of the move2earn and ecological fund's GMT will remain unlocked for release in the next six years, achieving full circulation.
The economic model of GMT has always been a deflationary mechanism. The team has repurchased 800 million in the past, and currently, 3 billion are in circulation. STEP N is still repurchasing and destroying through various mechanisms. This voting will lock 900 million for destruction, so 600 million GMT will be completely destroyed, and with the additional reward of 100 million, there will only be 1.6 billion in circulation, which is only half of the original amount.
After the destruction means that the monthly selling pressure released by VC unlocks is gone, GMT is almost fully circulating, with only move to earn and foundation releases remaining (less than 5% inflation per year), which has a small impact on future selling pressure, making GMT the first Binance Launchpad token to achieve full circulation.#GMT投票燃烧计划
