GMT Token is switching to the so-called staking system. Now users will receive rewards for holding ("freezing") tokens for a fixed period (at a percentage), but without being able to withdraw them during the said time frame. The interest rate may either be fixed or floating (flexible) depending on the type of staking chosen.
Our product is developing. We're constantly on the lookout for ways to offer customers new means to earn money via the project’s infrastructure. We also have a roadmap for the near future: to get on the major exchanges like Binance. In order to be listed on major exchanges, the project must meet the many requirements.
Binance is one of the world's largest crypto exchanges. The platform accounts for some 80% of the global volume of cryptocurrency turnover with a $76 billion daily trading volume and 90 million customers worldwide. It is a highly secured exchange with 24/7 support keeping holders funds safe. Such large crypto exchanges as Binance is committed to working closely and collaboratively with regulators from around the globe, possessing all the necessary licenses in the regions where it operates.
We do not guarantee that the project will be listed on any particular exchange but giving an example of the company’s direction in terms of complying with all necessary terms and legislations on the platforms and regions we operate in.
Staking is an opportunity to passively make a profit for owning and blocking (holding) your tokens for a certain period of time.
This tool is very similar to investments in high-dividend stocks and bonds. In terms of token staking, it doesn’t imply working via the Proof-of-Stake mechanism. It’s based upon smart contracts using ERC-20 protocols and profit is guaranteed by the GMT token staking smart contract code.
You can still get rewards by investing in GMT tokens, but staking has 3 distinctive features:
GMT Token holders will be given 2 staking options to choose from:
Fixed Staking: With this type of staking, users' tokens are blocked ("frozen") for 3 months at 20% per annum (APR). The annual interest rate is fixed and holders receive a guaranteed one-time reward in GMT tokens immediately after the staking closes. The blocked tokens along with the staking reward can either be withdrawn or locked up again by users.
Flexible Staking: Users receive BTC rewards every day after staking with a floating/flexible interest rate. Just as with fixed staking, token holders block (freeze) their funds for 3 months. After the end of the said period, users can unstake the same volume.
Nothing will change for those holders who purchased GMT tokens before the staking release. Your GMT tokens will continue to mine BTC for you just as before, unless you want to use the staking options yourself. All of these changes are exclusive to new users who, after the staking release, will no longer be able to purchase tokens capable of mining.
Your tokens will continue to bring you bitcoins. Nothing will change for those holders who purchased GMT tokens before the staking release.
The token staking mechanism is still new for both the company and investors. In order for this business model to work smoothly, we need time to build all the processes and will use the resources received from users to expand mining infrastructure.
We need to debug all the necessary procedures for the prompt purchase and launch of new equipment, while not letting down our customers. That’s why we decided to limit the number of tokens available for staking. The maximum amount of 100,000 GMT guarantees the fulfillment of all obligations on our part.