Sydney, Australia, November 21st, 2024,
Chainwire
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 burngmt.com, 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 via gmtdao.com.
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.
For more information on the GMT Burn Initiative and to
participate, users can visit burngmt.com.
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.
Contact
GMT
DAO
hello@gmtdao.com