What is STEPN?
STEPN is a Web3 lifestyle application and Non-Fungible Token (NFT) game built on top of the Social-Fi and Game-Fi technologies on the Solana network. STEPN is an application retainer with a Move-to-Earn model.
In other words, users have the opportunity to win prizes as long as they want to move according to the directions and instructions listed on the STEPN application. These characteristics make STEPN different from other crypto-based games.
STEPN and the Move-to-Earn concept he introduced are the evolution of two technologies that are currently popular, namely Augmented Reality and Play-to-Earn games. Thus, the concept of STEPN's game is like a combination of Pokemon Go, Strava, and Axie Infinity games.
How to Get Rewards from STEPN?
Before gaining income by exercising using the STEPN application, users must know the mechanics of this one game. Here's the explanation!
Sneakers As previously explained, users must have NFT Sneakers so that the STEPN application can record all physical activities carried out by users. It's just that each of these Sneakers has different variants depending on the sports activities being carried out.
Then, each Sneakers carries a different mission for its users. If the user fails to achieve the mission, then their chance to get the token reward will be tightly closed. Furthermore, here are the missions that users need to carry out according to their Sneakers type.
Walker (1 to 6 kilometers (km) per hour) Jogger (4 to 10 km per hour) Runner (8 to 20 km per hour) Trainer (1 to 20 hrs per hour) Users can purchase these NFT Sneakers using SOL and BNB crypto assets at the market place in the STEPN application. Usually, beginners have to pay at least US$300 to get sneakers with the simplest capabilities. However, if users want to start STEPN for free, then they can try STEPN for free for a limited time (free trial).
Besides that, they can also rent Sneakers from other users. It's just that, users must also be willing to share their income from exercising with the tenant.
If users like surprise things, then they can get Sneakers by buying Shoeboxes from the marketplace in the STEPN application. Shoeboxes are mystery boxes containing random sneakers.
Furthermore, like most other games, players can upgrade their Sneakers to get a maximum of five additional advantages consisting of:
Quality. Users can increase the quality level of their Sneakers from Common, Uncommon, Rare, Epic, to Legendary.
efficiency. Users can increase their income in the form of GST tokens per "Energy" that has been issued.
Luck. Users can increase their chances of getting random prizes in a sports session. These prizes can be in the form of upgrades that users can use or sell to market places.
Comfort. Users can increase their holdings of the GMT governance token when entering level 30 and above.
Resilience. Users can reduce the cost of repairing their Sneakers.
STEPN uses three tokens as the main medium of exchange in its ecosystem. The token consists of:
1.Solana (SOL) Users can use the original tokens from the Solana network to buy new Sneakers.
2. Green Metaverse Token (GMT) GMT is the governance token on the STEPN network. In other words, users can use it to determine the future development of STEPN networks and applications. It's just that, not all users are entitled to pocket this token. As previously explained, only users who have touched level 30 and above are entitled to obtain these tokens.
It is intended that only loyal STEPN users can determine the future of the network. In addition, this mechanism is also expected to encourage users to continue to increase their level. The unique fact is that the GMT token is experiencing a halving phase, which is a stage where the number of new coins appearing will decrease by half after a certain period.
In the case of GMT, the number of new tokens coming in will halve every three years. Currently, GMT has a maximum supply of 6 billion pieces with the following distribution:
30% is retained for the STEPN ecosystem.
30% is selected as a Move-to-Earn reward for users.
16.3% selected for closed sale.
14.2% was selected for the STEPN development team.
7% earned during token sale on Binance Launchpad.
2.5% is elected to STEPN's advisory board.
3. Green Satoshi Tokens (GST) GST is STEPN's native utility token as well as a token that users can earn as rewards after engaging in physical activities, such as walking, jogging, and running. Users can use GST to rent Sneakers, buy goods at market stores, repair Sneakers, increase Sneakers levels and other transaction activities.
So, in other words, GST acts as the primary "currency" in the STEPN ecosystem. In contrast to the limited supply of GMT, supply of GST is somewhat booming. However, some missions in the game require a GMT or GST "burning" to ensure a balance between supply and demand for the two tokens.
