Stage 1
Infrastructure prerequisite
GMT Swap/Trade function opened
Done
Stage 2
Utility prerequisite
GMT use case incrementally implemented
Done
Stage 3
Burning prerequisite
GMT burning progress bar installed
Done
Stage 4
GMT Earning Event
GMT earning kick off once the progress bar hit 100%
Done
GMT earning is enabled on 28th Sep 2022.
GMT halving officially commenced on 1st January 2026, following a postponement from the originally proposed date of 9 October 2024.
The re-introduction of halving reduces the GMT emissions and hence extends the reward lifecycle, and ensure the app’s economic model remains resilient over time.
Following are the GMT been distributed to each pool daily:
Classic Pool: 40%
Rainbow Pool: 60%
There is NO earning cap for GMT. Rather, the earning is changing dynamically every 1 mins based on the live GMT earners at the time. Similar to the concept of Hashrates*, the GMT earning is calculated and settled every 1 minutes based on the total Rainbow Power (Rainbow Pools) and Comfort (Classic Pool) been utilized in this 1 minutes.
* Hashrate refers to how much computing power is being used by a network (for example, the Bitcoin network) to process transactions. Take Bitcoin for example. Every couple weeks, the Bitcoin protocol automatically adjusts how difficult it is to mine new bitcoins based on the current Hashrate. When the Hashrate is high, the mining difficulty is high and thus reward is low. When the hashrate falls, the difficulty falls with it and thus reward is high.
Classic Pool is designed for all the Non-Rainbow Sneakers, Classic Pool comprises 40% of daily released GMT. In Classic Pool, different Sneaker types plays a contributing factor to GMT earning just like how GST earning works.
Classic Sneakers can start earning GMT once they reach level 30. The user will see a toggle to switch between GST Earning and GMT earning.
The GMT earning per person are pro rata based. The more users earning GMT at a given time, the less GMT earning will be available per person. Vice Versa.
Higher Comfort Attributes generally mean higher GMT earnings per minute.
Rainbow Sneaker is enabled on 12th Oct 2022. Rainbow Pool comprises 60% of daily released GMT. For detail, please refer to here.
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