At the STEPN official Townhall event on November 19, Yawn, co-founder of the GMT team, announced that the team had successfully repurchased about 600 million GMT tokens. These tokens mainly come from the unlocked shares in the hands of early investors and consultants, as well as some tokens allocated by the team. Yawn revealed that the repurchased GMT will be donated to the ecological fund managed by GMT DAO.
BurnGMT, a voting platform developed by the ecological fund, will be officially launched on November 21. Users will vote to decide whether to burn the 600 million GMT tokens repurchased by the team by locking GMT tokens from November 21, 2024 to January 20, 2025. In addition, users who participate in the vote will also receive an additional reward of 100 million GMT as support for the community's first participation in the vote.