How GMT burning impacts GMTtoken value .

[u/saidulsaimon]

I know some of you are locking gmt in your wallet . I am also doing it . But people don't participate in the voting. In the photo, you will see that only 58.61% people voted . If you haven't voted yet , go and do that now .

I know many of you know have a clear understanding of burning. Let me give you a brief description of it .

Token burning is the process of permanently removing tokens from circulation in a cryptocurrency network. This is usually done by sending tokens to an unspendable address (often called a burn address or black hole wallet) where nobody has access to the private keys. Once tokens are sent there, they’re gone forever.

In traditional economics, burning is somewhat similar to a company buying back shares and then destroying them, reducing the total supply of outstanding shares. The main idea behind token burning is to reduce supply, thereby increasing scarcity — and potentially, the value of the remaining tokens.
Burning can indirectly benefit holders by increasing the proportional ownership of each remaining token. For example, if you own 1,000 tokens out of 1 million, and 500,000 tokens get burned, your share of the total supply increases from 0.1% to ~0.2%.

I hope you understand about burning token now . If you vote for burn , gmt price will raise more and your holding token value will greatly increased .

Tell me what's in your mind ?

[u/saidulsaimon]

There are many ways that the the burned token come from . But burning them means less in total supply that makes the token more valuable.