# $CGPT Community Burn Event By [ChainGPT](https://paragraph.com/@chaingpt-2) Β· 2023-05-29 --- _Source:_ [_https://www.chaingpt.org/blog/cgpt-community-burn-event_](https://www.chaingpt.org/blog/cgpt-community-burn-event) _The Proposal has been passed; The Results are in, The $CGPT Community Burn Event shall begin._ Last week, the ChainGPT DAO was presented with a proposal to engage the Community in a Burn event. Voting began on May 20th and continued until the 27th. Members were given four (4) options to choose from including a _no burn_, a \*150,000 $CGPT \*burn, a _300,000 $CGPT_ burn, and the maximum cap of a _600,000 $CGPT_ burn. After a week of voting took place, by a landslide victory of over 57%, the community selected to opt for the maximum burn. πŸ”₯ **Burners**, start your engines and [**join the ceremony here**](https://www.chaingpt.org/burn) πŸ”₯ Specifications -------------- πŸ“… **Starting** on May 29, 2023 πŸ“… **Ending** on June 12, 2023 ⏳ **Duration:** 14 days πŸ”₯ **Burn Limit**: 600,000 $CGPT 🏦 **Treasury Commitment Match**: 20% / 150,000 $CGPT πŸ’° **Buyback Allocation**: $20,000 πŸ’Έ **Reward Pool**: $12,000 in $CGPT The Buyback ----------- The ChainGPT treasury has allocated up to $20,000 USDT for purposes of matching the community’s contributions and buying back $CGPT tokens from the open markets and burning them! After the event closes, and the final burn tally is recorded, ChainGPT will go to exchanges where $CGPT is listed and buy back up to 20% (or 150,000 tokens) of the community’s total burn. Participation Rewards --------------------- ChainGPT has constructed a participation prize pool consisting of rewards for 13 participants: ![$CGPT prizes for participants](https://storage.googleapis.com/papyrus_images/45c9f644f7e09dd9d6f8337418cd7f3848b353779b423c5d5bf39b286877e799.png) $CGPT prizes for participants * **#1 Burner** β€” 30,000 $CGPT + 2x voting power boost for 90 days + five (5) limited edition NFTs. * **#2 Burner** β€” 6,000 $CGPT + 2x voting power boost for 30 days + two (2) limited edition NFTs. * **#3 Burner** β€” 6,000 $CGPT + 2x voting power boost for 30 days + two (2) limited edition NFTs. * **10 random burners** β€”3,000 $CGPT each with odds based on contribution + one (1) limited edition NFTs. Burn Tracker ------------ To signify this momentous event taking place, ChainGPT has purpose built a Burn Tracker to serve as an analytic dashboard and participation interface. ![$CGPT Burners Interface](https://storage.googleapis.com/papyrus_images/f29e5ff56f1a1b816105d73d2121b14b72b37572fa752e76a4770b892d90b558.png) $CGPT Burners Interface In the dashboard, users are able to track their personal contributions as well as the global state of community activity taking place. Metrics including the total amount burned, the remaining burn allotment, the individual chances of successfully claiming rewards, the leaderboard, and burn ticket count, among other things will all be made available via the Burn Tracker. ![Track the $CGPT Total Burn](https://storage.googleapis.com/papyrus_images/45318e5a7a1311cb73934998b488a79293fd62d1c778092cff7979bdd87d4430.png) Track the $CGPT Total Burn πŸ”₯ **Burners**, start your engines and [**join the ceremony here**](https://www.chaingpt.org/burn) πŸ”₯ **Resources:** 🌐 [Website](https://www.chaingpt.org/) | πŸ“§ [Contact](https://www.chaingpt.org/contact-us)| πŸ€– [Brand](https://www.chaingpt.org/style-guide) | πŸ“ƒ [Whitepaper](https://docs.chaingpt.org/overview/i.-introduction) **Connect with us and Join the community:** [Twitter](https://twitter.com/Chain_GPT) | [Telegram](https://t.me/chaingpt) | [Discord](https://discord.com/invite/sv2NfqSgVW) | [Instagram](https://www.instagram.com/chaingptai/) | [LinkedIn](https://www.linkedin.com/company/chaingpt) | [Youtube](https://www.youtube.com/@ChainGPT) | [TikTok](https://tiktok.com/chain_gpt) --- *Originally published on [ChainGPT](https://paragraph.com/@chaingpt-2/cgpt-community-burn-event)*