GMT DAO Launches Groundbreaking Burn Initiative with a Target of Up to 600 Million GMT

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 in the hands of its community. Through this initiative, GMT holders will vote on the decision to burn up to 600 million GMT, an action that would mark one of the most ambitious token burns in the web3 ecosystem.

This initiative showcases a proactive effort to ensure GMT’s sustainable future, emphasizing innovation and community engagement. 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 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.

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.