DB 🌊🟦

Attention Miners, Galactic Mining Council wishes to advise that due to the extended market downturn, we have come to an impasse, as mining is not sufficiently covering hosting fees and as a result, we have been unable to meet our obligations related to ongoing staking rewards and project growth. In addition, the turbulent nature within Cosmos in recent months, with numerous hacks and exploits that have affected the underlying value of various bridged and wrapped assets is a significant concern, as any hack could potentially erase tens of thousands of dollars in GMC holdings that belong to you. As a result, we have made the difficult decision to unwind mining activity to ensure we don't default on signed contracts and avoid potential loss of value through exploits. What does this mean for our community? Primarily, this means that as hosting contracts expire, we will look to sell hardware on the secondary market to recoup some of those costs. The first of these rigs had their contract expire September 30, and there are two more that will expire over the next 3-4 months. Proceeds from hardware sales will be divided into equal portions ($100 each) and distributed to stakers on a weekly basis, returning to a weekly #WalkofClaims for the time being. This will allow remaining rigs to build a backlog of BTC as we can allow it to accumulate until contracts expire. Once all rig sales are finalized, remaining treasury funds will be distributed to stakers, along with NFT backing in one massive distribution. It is vital if you hold GMC NFTs to stake them to ensure you get your share of the treasury. We will ensure announcements are made about a timeline for these distributions in the future with plenty of notice, along with an overview of total treasury funds to be distributed. We are deeply saddened to have arrived at this point, and attempted to explore all possible avenues prior to making this decision. We appreciate each and every miner who has been on this ride with us since our launch in 2024, and are proud of the amazing collection created by IBC Mafia, and the community that has grown around it. 🫡

GMC's Backing can be viewed on this nice lite version. dao.phoenix.money/dao/terra1…

Another week down in 2026 and the ever constant #WalkOfClaims is in the books ⛏️ We are approaching our 2 year anniversary! 2 years of bringing the #stacksats motto to the cosmos. GMC just keeps chugging along 🫡 $BTC on @osmosis #BitMosis....Find our NFTs on @BackBone_Labs and join the club!