[Overview] What is STEPN?

by GameAZ
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In February 2022, the StepN project emerged as a phenomenon with a new form of making money on the Blockchain platform, which is Move to earn. This is a project developed by the Dev team on Solana’s ecosystem. The project won the Solana Ignition Hackathon Gaming Track and was invited to host its first Crypto running event during the Solana Lisbon Breakpoint Conference. So what is STEPN project? Join Steven from GameAZ to learn more about this project.

1. What is STEPN Crypto?

STEPN is one of the first successful projects with a new form of monetization that is Move to Earn powered by Solana platform. Users will buy in the Marketplace and own NFT items in the form of Sneakers. Users will perform activities such as walking or jogging to earn Tokens which are in-game currency and convert to FIAT for profit.

These NFT Sneaker items can be upgraded with a variety of different quantities and qualities that users can choose when participating in the game.

In terms of participating in the GameFi market, STEPN aims to motivate millions of people to build healthier lifestyles, improve health, fight against earth’s climate change, build community as well as connect people. used through the Web 3.0 platform.

At the same time, the project also motivates users to create Social-Fi to build a lasting platform that promotes user-generated Web 3.0 related content.

Similar to the concept of Play 2 Earn, the concept of Move2Earn was conceived by the STEPN team in August 2021. With more than 6 months, STEPN’s development team has fixed existing errors such as GPS accuracy, mobile asset management and built an anti-fraud mechanism to ensure balance for people.

2. Outstanding features of the STEPN

STEPN builds extremely diverse features for users in the game such as upgrading Sneaker items, Minting Show, mystery boxes, NFT custom, …

In addition, the STEPN project also has some outstanding features such as:

  • The development team builds a vertically linked ecosystem that includes Wallet on the platform, highly compatible Swap capabilities, and a diverse Marketplace for easy use by users.
  • For players with no knowledge of Blockchain can participate in the Free Trial for free to experience. After accumulating enough Tokens, they can buy NFT Sneakers and start their journey.

According to the data reported by the STEPN development team. The number of Daily Interactive Users (DAU) has reached 21K Users and the number of Monthly Interactive Users (MAUs) reached 66K after the project developed versions for iOS Appstore and Google Play Store.

On March 2, 2022, Binance Launchpad announced that GMT tokens will be open for sale under the Launchpad subscription mechanism. Your BNB balance will be recorded by the system within 7 days, starting from 7:00 on March 2, 2022 (Vietnam time) to 7:00 March 9, 2022 (Vietnam time). ). This is good news for the fan community supporting the project and also a stepping stone for STEPN’s future development roadmap.


ROADMAP details of STEPN project

  • August 2021: The concept of Move to Earn was born and the feasibility of the project was evaluated with completed Mockups.
  • September 2021: Conduct Team Building sessions, Build Motion Modules and perform DEMO Tests.
  • October 2021: Build GPS navigation system, build community and win Solana Marathon
  • November 2021: Closed Beta Release and Bug Fixes and Patch Releases
  • December 2021: Conduct community related events and launch the official Beta version
  • Quarter 1 2022: Building trading features, Marketplace and implementing IEO/IDO marketing activities.
  • Q2 2022: Update Wallet features, multi-Chain for Wallet, and upgrade new features for Marketplace.
  • 3rd Quarter 2022: Build the achievement related systems, the mission system and the NFT rental system.
  • Quarter 4 2022: Implement Online-Marathon campaign, build Social-Fi-related elements, and community activities.

4. Tokennomics

Currently, the STEPN project is using 2 types of tokens:

Game Token: GST (Green Satoshi Token)

Governance Token: GMT (Green Metaverse Token)

4.1. Key Metric

4.1.1. GST Token

  • Token Name: Green Satoshi Token
  • Ticker: GST
  • Blockchain: Solana
  • Token Standard: SPL
  • Contract: AFbX8oGjGpmVFywbVouvhQSRmiW2aR1mohfahi4Y2AdB
  • Token Type: Utility
  • Total Supply: Unlimited
  • Circulating Supply: 6,344,460.00 GST

4.1.2. GMT Token

  • Token Name: Green Metaverse Token
  • Ticker: GMT
  • Blockchain: Solana
  • Token Standard: SPL
  • Contract: 7i5KKsX2weiTkry7jA4ZwSuXGhs5eJBEjY8vVxR4pfRx
  • Token Type: Governance
  • Total Supply: 6,000,000,000
  • Circulating Supply: Updating…

4.2. Token Allocation

Move & Earn: 30%

Ecosystem: 30%

Private Sale: 16.3%

Team: 14.2%

Public Sale: 7%

Advisory: 2.5%

4.3. Token Payment Schedule

4.4. Utility of Tokens

4.4.1. Utilities of $GST

  • Utility Token.
  • GST Tokens can be earned through running & participating in in-game activities.
  • GST is used to repair, unlock/reset, level up & minting Sneakers, upgrade gem items.
  • Can be used to swap stablecoin USDC.

4.4.2. GMT token

  • Governance Token.
  • GMT tokens can be earned by jogging & participating in game activities.
  • Used to distribute game profits and high-level activities in the game such as changing the name of Sneakers and leveling up to high-level.
  • Can be used to swap stablecoin USDC (only when Sneaker reaches level 30).

4.5. Burn Mechanism

Every Blockchain project needs to have a problem to solve the inflation mechanism of the Game. Currently, STEPN has built a burn mechanism to reduce the excessive amount of Token circulating in the market for 2 GMT and GST Tokens through Sneaker Repair, Sneaker Unlock/Reset, Customization Fee, Level Up Sneaker, Sneaker Minting activities, Upgrade Gems.

As of March 2, 2022, the total supply and total tokens allocated to the Binance Launchpad of GMT tokens are 6,000,000,000 and 420,000,000 GMT (7% of the total supply) respectively. Token sale opening price: 1 GMT = 0.01 USD (price in BNB will be announced before the opening date).

5. STEPN Project Backer and Development Team

5.1. Project development team

STEP is a project with the participation of experienced figures in the blockchain field, with expertise in health as well as developing traditional social applications.

  • Jerry Huang: He is one of the talented Game Producers with more than 12 years of experience in the field of Game production and Game Marketing with many titles that have a huge amount of Downloads and Users on iOS store and App Store.
  • Yawn Hong: As a well-known businessman in the Crypto world, he is one of the experienced people in the field of start-up construction and scale up projects to foreign markets.
  • Jessica Duan: As a CSO, she has more than 10 years of experience working in corporations, building relationships and consulting high-level clients as well as the ability to build a core team for the company. ty

5.2. Advisory Board

  • Scoot Dunlap: He currently holds the position of Vice President of Adidas and CEO/GM @ Runtastic
  • William Robinson: As the head of AllianceDAO he had a key role in formulating and delivering a sound market strategy for STEPN’s growth.
  • Jason Kam: Founder of venture capital fund Folius Venures
  • Staiago R.Stantos: As one of the investors to develop the Web 3.0 development platform

5.3. Backer

The project has attracted investors from large funds and is strongly sponsored from the community of Solana ecosystem.

6. Community

  • Website: https://www.stepn.com/
  • Twitter: https://twitter.com/Stepnofficial
  • Discord: https://discord.com/invite/stepn
  • Medium: https://stepnofficial.medium.com/
  • Tele: https://t.me/STEPNannouncement
  • Reddit: https://www.reddit.com/r/StepN/

Above is an overview of what is STEPN project? Which you may be interested in and learn.

If you have any questions, comments, suggestions or project ideas, please email: [email protected]

Disclaimer: The information on this Website is provided as an overview of the market and does not constitute financial advice. GameAZ encourages you to do more research before deciding to invest

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