GMT DAO Launches Groundbreaking Burn Initiative with a Target of Up to 600 Million GMT
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 i...
The GMT DAO, an independent community organization of GMTholders, is excited to announce the launch of the GMT Burn Initiative—an eventdesigned 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 to600 million GMT, equivalent to 100 million USD, marking this as one of the mostambitious token burns in the web3 ecosystem.
The GMT Burn Initiative reflects the GMT DAO’s commitment totransparency, governance, and sustainable token management. Thiscommunity-driven approach aligns with the DAO's goal to shape GMT’s futureresponsibly 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'ssustainable future, emphasizing innovation and community engagement. The GMTDAO remains committed to true decentralization, empowering GMT holders to shapeits direction. By enabling votes on key proposals, including a potential majortoken burn, the DAO highlights the power of collective input and its dedicationto building a strong, thriving ecosystem.
The GMT Burn Initiative marks a new chapter in GMT’sjourney, giving every holder a voice. Voting, which starts at 100 GMT, is nowopen 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 holdersdedicated to overseeing GMT’s future through transparent and community-ledgovernance. The DAO’s formation represents a commitment to empowering GMTholders with a voice in key decisions, from token management to ecosystemdevelopment.
About GMT
GMT sits at the heart of the FSL ecosystem. Exclusivelyearned through STEPN, this token plays a crucial role across all FSL products.GMT operates on four blockchains—Solana, BNB Chain, Ethereum, and Polygon—andis pivotal in Gas Hero, where it's used to trade items and burn for NFTlevel-ups. On MOOAR, all items can be traded using GMT, and it’s also centralto primary sale raffle mints with key partners and is used in the newlylaunched STEPN GO to buy Sneakers and perform various in app functions.
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