GMT DAO Launches Burn Initiative, Putting the Future of GMT in the Hands of Its Community

Sydney, Australia, November 21st, 2024, Chainwire The GMT DAO, an independent community organization of GMT holders, is excited to announce the launch of the

Sydney, Australia, November 21st, 2024, Chainwire

The GMT DAO, an independent community organization of GMT holders, today announced 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, a move that would mark 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.

The initiative follows GMT’s recent listing on Binance, which saw the token surge by over 300% in 24 hours. The burning of a portion of GMT’s supply aims to further enhance the token's scarcity and value over the long term.

“We're excited to announce the GMT Burn Initiative, an event that will put the future of GMT in the hands of its community,” said a GMT DAO representative. “Through this initiative, GMT holders will vote on the decision to burn up to 600 million GMT, a move that would mark this as one of the most ambitious token burns in the web3 ecosystem.”

The initiative will begin on November 21st, 2024, and close on December 12th, 2024. During this period, GMT holders can vote on the proposal at burngmt.com. The proposal outlines the plan to burn a portion of GMT’s total supply, with the aim of reducing the circulating supply and increasing the token's scarcity.

The voting process will be conducted on the DAO’s governance platform, where GMT holders can participate by connecting their wallets and casting their votes. The proposal with the highest number of votes at the end of the voting period will be implemented by the GMT DAO.

“This initiative showcases a proactive effort to ensure GMT’s sustainable future, highlighting innovation and community engagement,” added the representative. “The GMT DAO is committed to true decentralization, empowering GMT holders to shape its direction.”

By enabling votes on key proposals, including a potential major token burn, the GMT 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.