Green Metaverse Token
Name
Green Metaverse Token
Summary
STEPN is an Australia-based move2earn non-fungible token (NFT) game-fi project for mobile devices Users receive NFTs that come in the form of sneakers, and the Green Satoshi Token (GST) is STEPN's governance token.
To collect GSTs and NFTs, users walk, jog, or run outdoors. STEPN offers users a blockchain-based fitness application, and it works when users purchase NFTs that last for a limited amount of time.
Rating
Symbol
GMT
Overview
STEPN is a move-to-earn health and fitness application. Users equipped with sneaker NFTs can move outdoors to earn tokens and NFT rewards. STEPN has a built-in wallet, swap, marketplace, and rental system that allow non-crypto users to onboard STEPN.
The platform was founded in August 2021 by the fintech studio Find Satoshi Lab. In September 2021, STEPN's core team was formed. To join the community, a user has to download the mobile app, then register for an account in order to create a wallet. The next step involves depositing SOL tokens in the built-in STEPN wallet, buying NFT Sneakers on the in-app marketplace, and waiting about twenty-four hours for “energy” replenishment. The energy is usually the time a user works out in minutes, and the indicator's recovery rate is 25 percent for each six hours.
STEPN's Green Satoshi Token is used in the Web 3.0 lifestyle app featuring in-built social elements, as well as gamification design. The move-to-earn game allows players to receive GST tokens through the performance of outdoor activities like walking, jogging and running, whilst wearing the NFT Sneakers. Additionally, the GST tokens can be utilized in leveling up and minting other Sneakers. Players can rent or put up their NFT sneakers for sale on the app's Marketplace.
Historical Price Movement (in INR)
Technology
STEPN is built on Solana, a layer-one blockchain with a proof-of-history consensus combined with a proof-of-stake consensus mechanism with partial Byzantine fault tolerance. It has 200 nodes operating worldwide that can, at their peak, process up to 50,000 transactions per second. Solana performs a set of coordinated optimizations to achieve such impressive performance and processes transactions in a multi-threaded way, which sets it apart from slower blockchains.
STEPN has a dual-token system, a game token - Green Satoshi Token (GST) and a governance token - Green Metaverse Token (GMT).
STEPN is one of the most popular games on the Solana blockchain and is supported by leading companies associated with the blockchain.
The app has 3 modes for users to participate freely and earn money: Solo, Marathon and Background Mode.
Modu only: In solo mode, users can earn tokens by acting. Their income depends on two things: their physical activity level and the rarity/property of the Sneakers they have.
Marathon Mode: There are weekly and monthly Marathon competitions and users must register for each race separately 24 hours before the online Marathon starts.
Background Mode: Users can earn GST with at least one pair of sneakers in their inventory, even without application and repair costs. When the STEPN app is closed, Background Mode gets the step count directly from the Health Data of the mobile device. Steps taken in Background Mode (walking, jogging or jogging) do not reduce the Stamina of the sneakers.
Use of Native tokens in the ecosystem:
STEPN operates on a blockchain and issues its own token for in-game utility. GST has an unlimited supply and is the app’s currency that is earned for movement. It has several burn mechanisms to disincentivize inflation, such as minting or repairing sneakers, leveling up sneakers, and upgrading gems.
Private Sale
16.3%
Binance Launchpad Sale
7%
Team
14.2%
Advisors
2.5%
Ecosystem/ Treasury
30%
Move and Earn
30%
Volume ( as of 23rd May 2022)
$597,855,787
Total Supply
6,000,000,000 GMT
Circulating Supply
600,000,000 GMT
Crowd Sales
NA
Funding
20-01-2022-Seed round- $5M
Country
British Virgin Islands
Name of Organisation
FINDSATOSHI LAB LTD.
Year Incorporated
2022
Registered Address
Mandar House, 3rd Floor, Johnson's Ghut, Tortola VIRGIN ISLANDS, BRITISH VG1110
Dispute Resolution and Governing Law
British Virgin Islands
Country Risk Assessment
A1
Founding Team
Name | Designation | Education | Experience |
Jerry H. | Founder | Zhejiang UniversityBachelor's degree, Computer Science | 12 yrs |
Yawn Rong | Co-Founder | UnisaMaster's degree, advertising, public relation, e-marketing | 5 yrs |
Jessica Duan | CSO | University of AdelaideMaster of Architecture | 9 yrs |