STEPN Has Started to Buy Back & Burn 26 Million GMT Tokens!

STEPN Has Started to Buy Back & Burn 26 Million GMT Tokens!

STEPN, a renowned move-to-earn app, stated that it has begun buying back and burning GMT tokens. The team announced that they intend to purchase GMT worth 10,000 SOL (about $1 million) every day until the funds (around $26 million) run out.

STEPN has earlier announced a profit of 198,635.62 SOL (about US$26,815,807.35) in the first quarter, which was generated via in-app transaction royalties (4%) and handling fees (2%). The team claimed that it will repurchase and burn GMT on the secondary market with these funds.

This process, according to STEPN, might take up to a month to complete in order to minimize price volatility.

STEPN x BITKEEP Joint Event

BitKeep & StepN (GMT) kicks off a price quiz. Winners get a Step sneaker or generous GMT. The same number cannot be submitted twice.

Duration

• When can you make a guess: 00:00:00, April 1, 2022 – 23:59:59, November 30, 2022 (GMT+8)
• Results announcement: 10:00 AM, January 1, 2023 (GMT+8)

Rules

1. Within the duration of the event, a participant must use BitKeep Swap to get at least 1 GMT. The transaction will be automatically detected and the participant marked as eligible;
2. The participants then invest 1 GMT (through BSC or Solana) to make a guess about the highest price GMT. Each participant can make one guess, and the same number cannot be submitted twice. You can go as far as 3 decimal places;
3. After submitting your number, you’ll be able to check the GMT Price Estimate Distribution, and wait for the announcement of the results;
4. The peak price of GMT in 2022 on Binance will be used as the benchmark. A final number with more than 3 decimals will be rounded to 3 decimal places.

The participant whose guess is closest to the peak price gets StepN Sneaker #2,955; the top 10% closest guesses share all GMT invested by participants. BitKeep will announce the results and reach out to the winner to distribute the prizes.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News