Governance & Ecosystem fund
Last updated
Last updated
All GST users spent in the app are burned daily from the Spending Account.
No less than 5% of the Team's profit will be use to support the stability and growth of FSL ecosystem.
Every month, 0.3% of the total supply will be unlocked, which equals to 18,000,000 GMT. These GMT will be used to support building STEPN's global ecosystem. Unspent GMT will be held in the STEPN treasury.
Ecosystem fund on Solana: Dqb8pfMEtnjN2K7cN3fWVhZFXqmaRhZXN6y9b9RDSH55 eth：Ecosystem fund on Ethereum: 0x8b31d6018D2Ee253379E98475C59C934549e62b0 Ecossytem fund on Polygon: 0x8b31d6018D2Ee253379E98475C59C934549e62b0
On 6th July 2022, 50,000,000 SPL-GMT from the Ecosystem fund are burned and 50,000,000 ERC20-GMT are minted to serve as the liquidity bridge between SPL/BEP GMT and ERC20-GMT.
SPL TX (GMT burn): ERC20 TX (GMT mint):
Following is the Trade Fee holding address from DOOAR. The address will convert the fee into stablecoins for future ecosystem efforts:
ERC-20: 0x08b60476688D222473eaf360Da63d9627e73054C
On 7th Dec 2022, 50,000,000 SPL-GMT from the Ecosystem fund are burned and 50,000,000 ERC20-GMT are minted to deposit to Binance, a withdraw of 50,000,000 SPL-GMT is issued and sent back to the STEPN Ecosystem fund address:
Marketing expenditure: 3.6 million GMT will be used for marketing expenditure monthly from the monthly vested Ecosystem Fund.
On 17th June 2023, 3.085 billion SPL-GMT were burned on Solana Chain and minted on Ethereum Chain.
The GMT Mint Rights on Ethereum Chain were burned afterwards. The ERC-GMT were moved to a multi-signature address for monthly distribution. The 3.085 billion SPL-GMT comprises of the remaining GMT balance of Investor, Advisor, Team and Ecosystem Fund.
On 7th December 2023, 100 million SPL-GMT was burned and 100 million Polygon-GMT was minted to provide liquidity to the GMT on Polygon:
Burning on Solana:
Minting on Ethereum:
Transfer to Binance:
Transfer back to Ecosystem fund:
Burning evidence of SPL-GMT:
Minting evidence of ERC-GMT:
Evidence of destroying Minting right on Ethererum Chain:
MINT 100mil P-GMT
BURN 100mil S-GMT
Transfer 100m P-GMT to Binance
Withdraw 100m S-GMT from Binance
On 10th April 2024, 75 million SPL-GMT was sent to the Spending Account to facilitate the possible redemption of FSL Points to GMT. This is part of the annual STEPN event - The Trailblazer. Transaction proof is provided below: