As you know, GMD is a deflationary coin. 25% of the profits generated by Geoma DAO Coop will be used to buy back GMD and the coins will then be deleted. Furthermore, with each new node created and hallmarked, 100,000 GMDs are burned.
As an incentive for our upcoming node and staking program, we completed our biggest burn so far! That’s another 80M GMD from Safety Wallets and 2M GMD from buyback, turned to ashes. Cheers to deflation!
The burn was completed in 5 steps. Get all the burning details below:
More on our tokenomics and deflationary model on our website.
Our current circulating supply is 220.18M GMD and can be tracked live on our new Explorer page. It can be easily deduced by subtracting the Safety wallets and the project’s wallets ("Liquidity, Exchanges and Listings", "Airdrops and Rewards", "Marketing Wallet", "Bridge Wallet", "Leasing Wallet”, "Team Wallet") from the total supply (844M GMD after this burn).
An important thing to take into account is that 350M GMD out of the total supply are locked forever in Safety Wallets, as a measure we took since genesis against potential 51% attacks.
As an incentive for our upcoming node and staking program, we completed our biggest burn so far! That’s another 80M GMD from Safety Wallets and 2M GMD from buyback, turned to ashes. Cheers to deflation!
We know it’s been a while. Time runs at a different, much faster rate in the crypto space, but that’s fine - we’re so much more than a crypto project.
