GM Token Sets Transaction Tax on Purchases and Sales!

Bittime - GM token by gm.ai will have a two-way transaction tax of 6% on every purchase and sale. Read this article to find out the full news!

GM Token Transaction Tax of 6% 

Dexter, founder of gm.ai, revealed that the 6% transaction tax was implemented to increase transparency in the project ecosystem. 

All taxes imposed on GM token transactions will be added back into the liquidity on the Meteora platform, as the primary platform for initial trading of GM tokens.  

This transaction tax only applies to trades made on the DEX during the initial stages of the project. Users who buy or sell GM tokens on DEX must take into account a 6% deduction from the transaction value.  

Read Also: Gm.ai to Launch GM Token and New Features Today!

GM Token Tax Period

Although this 6% tax was imposed at the initial launch of the GM token, gm.ai has long-term plans to remove the tax once the GM token is listed on the CEX. 

Dexter explained that this transaction tax will only apply for the first few weeks after launch. Once GM tokens start trading on CEX, this tax will be removed to provide more incentives for users to make transactions.

This move is considered a smart strategy to increase the liquidity of GM tokens and attract more investors to get involved in trading these tokens on CEX. 

By removing transaction taxes once the GM token is listed on the CEX, the gm.ai project hopes to increase trading volume and create greater liquidity for the GM token.

gm.ai Anchor Program 

In addition to imposing transaction taxes, gm.ai also launched a special program called the "Anchor Program". This program allows users to hold GM tokens for a certain period of time before transaction taxes are removed. 

Through this program, users will be given incentives in the form of additional GM tokens which can be sold after taxes are removed, thereby potentially gaining greater profits.

The Anchor Program is designed to maintain GM token liquidity in the market and encourage users to hold onto tokens during the initial launch period. 

The program also provides an opportunity for users to take advantage of higher liquidity when they finally decide to sell their GM tokens after the tax is removed.

Read Also: gm.ai Launches $10 Million Airdrop Campaign on Telegram

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