November 21, 2024 at 10:57AM
The GMT DAO, an independent community organization of GMT
holders, is excited to announce the launch of the GMT Burn Initiative—an event
designed to place the future of GMT firmly in the hands of its community.
Through this initiative, GMT holders will vote on the decision to burn up to
600 million GMT, equivalent to 100 million USD, marking this as one of the most
ambitious token burns in the web3 ecosystem.
The GMT Burn Initiative reflects the GMT DAO’s commitment to
transparency, governance, and sustainable token management. This
community-driven approach aligns with the DAO’s goal to shape GMT’s future
responsibly and collaboratively.
How It Works:
Lock
and Vote: GMT holders can participate by visiting the website, where
they can lock their tokens and cast their vote on various proposals,
including the first of its kind “GMT Burn Initiative”. Participants will
receive an exclusive soulbound ‘Make GMT Great Again’ Red Hat NFT as a
token of acknowledgement for their involvement. This NFT will record
metadata detailing the claimed and eligible airdrops, as well as the votes
cast.
Earn
Rewards: A total of 100 million GMT will be distributed at the end of
the 60-day voting period as rewards to participants, contingent on
achieving milestones.
On-Chain
Transparency: The voting process is recorded on the blockchain,
allowing anyone to verify results and ensuring the integrity and
transparency of each decision.
Regular
Voting Cycles: This burn initiative is just the beginning. Moving
forward, GMT DAO will introduce new proposals and voting cycles every
quarter, giving holders regular opportunities to shape the future of GMT.
This initiative showcases a proactive effort to ensure GMT’s
sustainable future, emphasizing innovation and community engagement. The GMT
DAO remains committed to true decentralization, empowering GMT holders to shape
its direction. By enabling votes on key proposals, including a potential major
token burn, the DAO highlights the power of collective input and its dedication
to building a strong, thriving ecosystem.
The GMT Burn Initiative marks a new chapter in GMT’s
journey, giving every holder a voice. Voting, which starts at 100 GMT, is now
open at burngmt.com, inviting all GMT holders to help shape the token’s future.
About GMT DAO
The GMT DAO is an independent organization of GMT holders
dedicated to overseeing GMT’s future through transparent and community-led
governance. The DAO’s formation represents a commitment to empowering GMT
holders with a voice in key decisions, from token management to ecosystem
development.
About GMT
GMT sits at the heart of the FSL ecosystem. Exclusively
earned through STEPN, this token plays a crucial role across all FSL products.
GMT operates on four blockchains—Solana, BNB Chain, Ethereum, and Polygon—and
is pivotal in Gas Hero, where it’s used to trade items and burn for NFT
level-ups. On MOOAR, all items can be traded using GMT, and it’s also central
to primary sale raffle mints with key partners and is used in the newly
launched STEPN GO to buy Sneakers and perform various in app functions.
This article was written by FL Contributors at www.forexlive.com.
