What is STEPN and GMT cryptocurrency?
The STEPN application was developed by the Australian company Find Satoshi Lab. Her fellow citizens Jerry Huang and Jaun Rong have many years of experience in mobile development. The startup consultants are the Vice President of the Digital Department at Adidas Runtastic Scott Danlap, as well as William Robinson, working in the Alliance Tao.
Why in STEPN two tokens – GMT and GST?
In the STEPN application, you can use two assets at once: Green Satoshi Token (GST) and Green Metaverse token (GMT).
GST receives applications in the process of physical activity. You can spend them on the repair of “sneakers”, their improvement and purchase of additional pairs in the marketplace inside the application. GST tokens have unlimited emission, but when consumed by the user, they are burned to limit inflation.
GMT – control token. It can be bought on cryptocurrency exchanges or starting to earn with the help of NFT things when reaching the 30th level. At the same time, the speed of “production” GMT using sneakers is gradually reduced.
Due to the too high rate of emission of A unique avatar: new tokens and the fall in the popularity of the application, the cost of GMT fell from the peak reached at the end of April 2022, almost 4 times by the end of August. To maintain the price of cryptocurrency, the STEPN team began to conduct regular GMT redemption from the market and its further burning.
What depends on the profitability in the STEPN application?
At the initial stage of the game, the user receives GST tokens for every minute of active movement. The income depends on the five factors:
Type of STEPN sneakers
Each NFT has its own “speed mode”, which determines the desired type of user activity in which he receives GST:
- “Walking” (Walker): Movement at a speed of 1-6 km/h brings 4 GST for each unit of spent energy.
- “Jogger”: Easy run at a speed of 4-10 km/h gives 5 GST per unit of energy.
- Runner: Running at a fast pace of 8-20 km/h, 6 GST per unit of energy.
- “Trainer”: The user himself selects a pace in the range of 1-20 km/h and receives from 4 GST to 6.25 GST for each unit of energy.
Speed of movement
To maximize the “profitability” of STEPN sneakers, the user must move in the speed range, which corresponds to their selected type. When speed goes beyond, earnings are reduced.
Each NFT has its own quality parameter: “ordinary” (common), “unusual” (uncommon), “rare” (RARE), “epic” (epic) and “legendary” (Legendary). The higher the quality, the more expensive the sneakers, the more they bring income.
You can increase the characteristics and profitability of digital sneakers by increasing their level. To do this, burn a certain amount of GST. The higher the level, the more up tokens will be required for upgrades.
It depends on this indicator how many tokens the user receives in one minute of movement. Until the 29th level for physical activity, only GST can be obtained, from the 30th level it opens with access to the pharmacy GMT.
As the user moves, the sneakers wear out. With high wear, NFT receives a fine for profitability. If stability decreases to 50% – efficiency will decrease to 90%, with a decrease to 20% – efficiency drops to 10%. To restore stability, sneakers need to be “repaired” by spending a certain amount of GST on this.
What are the special collections of STEPN NFT?
At the end of April 2022, STEPN, with the support of Binance, released a collection of digital shoes in a collaboration with a well -known sports brand ASICS. Now these sneakers can be purchased at the Binance NFT site.
In the summer of 2022, STEPN announced a new partnership, this time with the famous football club from Spain “Atletico Madrid”. Sale of collection of digital items will be held on Whalefin platform. To access the collection, you need to get a special electronic ticket, which will be played from August 26 to September 2, 2022 Those who are registering for the event.
How the STEPN project develops
Applications developers plan to add several additional game modes.
- Marathons, in which applications users will be able to compete with each other. Each participant is guaranteed to receive remuneration in accordance with the Regulation in the leadership table. The winners of the weekly or monthly marathon will receive awards in the form of GST or GMT tokens, as well as a special NFT sign.
- Background mode. STEPN will provide the opportunity to earn tokens for movement while the application is actively on a mobile device in the background.
- Quests. Various tasks will appear in the application, for the implementation of which users will receive achievements.
STEPN adheres to the status of carbon neutrality. According to the developers, for this they send part of the profit to buy special “carbon loans”. According to the project’s road map, GMT holders will also be able to purchase loans over time.
At the end of May 2022, the project announced the termination of users’ service from China. The decision was caused by a total prohibition on operations with cryptocurrencies in the PRC.
The STEPN team also develops individual “regions” (Realms) – autonomous spaces inside the application created together with project partners and have their own rules.
Short answers to frequent questions
What is STEPN?
STEPN – a mobile application with the ability to receive a reward in cryptocurrency for running and walking.
Where to watch reviews about Stepn?
Reviews about the application are available on his page on Google Play or App Store.
Where to find an income calculator for STEPN?
Calculators for calculating profit can be viewed on sites STEPN Guide, Netlify or Coda. There are no official calculators in STEPN, they are developed by enthusiasts based on unofficial data.
How NFT work in STEPN?
In STEPN, non -replaced tokens (NFT) are needed to use the application. In the form of NFT, digital sneakers are implemented, which must be kept in the STEPN wallet – then they will bring income in the GST token. NFT triggers “pump” as they are used. When an object of level 30, STEPN reaches a reward in the GMT token reward.
How much do STEPN cost?
According to the end of August 2022, the minimum cost of STEPN NFT-building is approximately $ 50 in Sol cryptocurrency.
How to buy ASICS sneakers for STEPN?
NFT from a special collection of STEPN X ASICS can be purchased on the BINANCE NFT platform.
Where to get the activation code for STEPN?
STEPN activation code can be generated on the official website or get an application from the user.