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What is STEPN?

What is STEPN?

What is STEPN?

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Overview


STEPN is a Move to Earn (M2E) NFT game where users can earn cryptocurrency (GMT and GST) by walking or running. It was released in December 2021 and quickly gained popularity around the world. In STEPN, users must first purchase NFT sneakers. Sneakers come in a variety of types, including rarity and status. Once you have purchased the sneakers, you can launch the app and start walking. Depending on the distance you walk, you can earn rewards of GMT and GST. GMT and GST can be exchanged for other NFTs and goods in the STEPN marketplace or converted into cash. STEPN is an innovative game that encourages users to have healthy habits and earn cryptocurrency at the same time.

What is STEPN – Explanation Video

STEPN is also an application that brings the principles of Game-Fi and Social-Fi into everyday life, and was the fourth successful project among over 2021 projects presented at Solana's Ignition Hackathon 500, effectively introducing the idea of ​​Move and Earn for the first time. This is a system in which participants can obtain Non-Fungible Tokens (NFTs) equipped as sneakers, earn game currency by walking, running or jogging outdoors, and exchange that currency for digital payments. In order to motivate people to work on projects for a healthy lifestyle and the environment, STEPN plans to develop a platform that promotes user-generated Web 4 content in the long term.

Blockchain (Realm) and key currency

Blockchain NameDescriptionBase Currency
Solana (Solana Chain)A high-performance and secure blockchain platform that features high scalability and low transaction costs, and is used in a variety of applications including finance, games, and social infrastructure.SOL
BSC (Binance Smart Chain)A blockchain platform with smart contract functionality developed by Binance. It is compatible with Ethereum and can use Ethereum tools and DApps.BNB Faucet
Ethereum (ERC20) - APE ChainA blockchain platform that supports smart contracts. ERC-20 is a token standard that defines a standard interface for creating tokens on Ethereum.ETH

What is a Realm?

A realm is a server that hosts different versions of a game, and different users can play the same game in different realms. This can be built on the STEPN blockchain, and STEPN and ecosystem partners will work together to release new realms to provide diverse values ​​and brand experiences. Each realm has great freedom to define color themes, utility tokens, NFT visuals, narratives, etc.

The basic rules are that energy can be shared between realms under certain conditions, GMT can bridge between realms, but utility tokens cannot bridge between realms. When a new realm is released, users can share a certain amount of energy from the old realm to the new one, but the amount of energy that can be shared decreases over time.

In-game currency

GST

The virtual currency GST (Green Satoshi Token) is a token used in the app "STEPN". In this app, you can earn GST by walking or running. GST is awarded by purchasing NFT sneakers within the STEPN app and depending on the distance and time walked. Also, GST cannot be purchased at domestic exchanges, and you must use an overseas exchange.

GST Overview

  • Official name: Green Satoshi Token
  • Usage: Transactions within the STEPN app, purchasing NFT sneakers, etc.
  • Exchanges: Huobi, Raydium, etc.
  • Official site:STEPWOMEN

Characteristics of GST

  • STEPN's utility token, which can be earned by participating in the game.
  • Used to repair sneakers, level up, and upgrade gems.
  • Can be exchanged for USDC.
  • It has anti-cheat measures in place.

The future of GST

  • Increased demand due to the growing popularity of STEPN.
  • Price maintenance through burning.
  • Listing on various exchanges.

How to buy GST

  • Since it is not available on domestic exchanges, it can be purchased from overseas exchanges such as Huobi, MEXC, and CoinEx.
  • Since it is not possible to directly deposit Japanese yen, virtual currency must be purchased at a domestic exchange and then transferred to an overseas exchange to make a purchase.
STEPN What is STEPN?

GST Combustion Mechanism (Burn)

ItemDescription
ShoemintingProcess of burning GST
RepairBurn GST to recover HP
Level up your sneakersBurning GST to boost sneakers
Gem UpgradesBurn GST to power up your gems
Unlocking a SocketBurning GST to make sockets available
Mystery Box OpeningBurn GST to open mystery boxes
Sneaker EnhancementBurn GST to improve sneaker performance

GST, GMT market information

If you want to see more information, click or search for the name of the virtual currency (e.g. BTC) to view the details.

# NamePriceChanges 24H Available SupplyPrice Graph (7D)

GMT

The cryptocurrency GMT (Green Metaverse Token) is the governance token for the Move to Earn game "STEPN". It was listed on the major cryptocurrency exchange Binance on March 2022, 3. GMT was airdropped to SPEPN users and attracted particular attention. GMT was IEOed (Initial Exchange Offering) on ​​Binance, after which its price rose. In order to purchase GMT, it is necessary to transfer the cryptocurrency for purchasing GMT from a domestic exchange such as GMO Coin to an overseas exchange. GMT is also necessary to strengthen the sneakers used in SPEPN, and its uses are being updated one after another.

GMT Market Information

  • step
  • GMT
    (GMT)
  • Price
    $0.065
  • Market Cap
    $ 175.49 M

Characteristics of GMT

  1. Governance Tokens: GMT is STEPN's governance token, which gives you the right to have a say and vote on the direction of the project and app.
  2. Airdrop: GMT was airdropped to select STEPN users, as a way to reward players who have supported STEPN since its early days.
  3. IEO: GMT conducted an IEO on Binance and is considered a token with high reliability and market value.

GMT Earning Mechanism (Classic Pool)


The Classic Pool is a pool for non-rainbow sneakers and accounts for 1% of the GMT released each day. In the Classic Pool, similar to earning GST, different sneakers contribute to earning GMT.

CategoryItemDescription
Pool informationClassic PoolDaily GMT distribution: 20
Rainbow poolDaily GMT distribution: 30
Rainbow Plus PoolDaily GMT distribution: 50
Rainbow Infinite PoolDaily GMT distribution: Unknown, Notes: Schadenfreude pool (mechanics TBA)
GMT Acquisition InformationGMT Earning LimitNone
How GMT Earnings are CalculatedDynamically changes every minute based on the number of GMT winners at that time. Based on the sum of Rainbow Power and Comfort.
GMT start order1. Classic Pool (100%) -> 2. Rainbow Pool (Classic 40%, Rainbow 60%) -> 3. Rainbow Plus Pool (Classic 20%, Rainbow 30%, Rainbow Plus 50%)
Hashrate InformationHashrateThe computing power used by the network to process transactions. The higher the power, the higher the mining difficulty and the lower the rewards.


Level Requirements

CategoryItemDescription
Level RequirementsAvailable LevelsLevel 30 Sneakers
How the halving worksEarning periodExactly two years after the date on which GMT becomes available
Daily EarningsFixed
Pro Rata MechanicHow Earnings are CalculatedThe amount of GMT earned per person is pro rata: the more users you have, the less you earn per person.
Comfort MechanismEffect of amount gainedThe higher the comfort, the higher the GMT you can get.

STEPN Review

Looking at STEPN reviews, the app has seen mixed reactions from users. Here are some key takeaways:

利 点

  1. Promoting health and fitness: STEPN aims to encourage exercise and support a healthy lifestyle. It encourages users to be active through walking, jogging and running.
  2. Revenue Generation: Users can earn cryptocurrency while exercising, which is especially appealing for people with active lifestyles.

Concern

  1. Market Fluctuations: Volatility in the cryptocurrency market can significantly affect the profitability of the app. Prices are highly volatile and involve investment risks.
  2. Initial investment: Purchasing NFT sneakers requires an initial investment, which could be a barrier for some users.
  3. technical issues: Some users have also reported bugs and technical issues with the app.

comprehensive evaluation

STEPN is an attractive option for people interested in both health and cryptocurrency, but market volatility and the need for an initial investment should be considered. Some users may be able to form healthy habits and earn revenue at the same time by using the app, but that depends heavily on individual circumstances and market conditions.

For specific user reviews and more detailed information, we recommend checking the app directly in the app store, related forums, or on social media.

STEPN News

We will be reporting news about STEPN on an irregular basis.

To learn more, see below

How to get started with STEPN

STEPN game details

About Rainbow Sneakers

Personal

STEPN Tweets (personal thoughts)

STEPN Operational Plan

Links

Official website

OFFICIAL TWITTER

Link summary official