$GMT has another scheduled token supply event approaching this week.
Approximately 55.3 million GMT are expected to unlock on October 9, currently worth roughly $2.4 million.
GMT is the governance and utility token of STEPN, but its token mechanics include both issuance and token destruction.
Inside STEPN, GMT can be burned for activities including sneaker minting, gem upgrades, attribute redistribution, sneaker enhancement and improvements to several in-app mechanics.
Users can also earn GMT through eligible sneakers and activity.
Another important change began in 2026.
STEPN introduced a GMT halving mechanism that reduces GMT emissions over time, with the current halving system beginning on January 1, 2026.
This means $GMT has several supply forces operating simultaneously:
GMT entering circulation through vesting and rewards.
Lower emissions through the halving mechanism.
GMT permanently removed through in-app burns.
The October 9 unlock should therefore not be analyzed in isolation.
Useful metrics include circulating supply, actual GMT burned, move-to-earn participation, active STEPN users, exchange inflows after the unlock and future emission rates.
Unlock: scheduled.
Market impact: still needs to be observed.
Approximately 55.3 million GMT are expected to unlock on October 9, currently worth roughly $2.4 million.
GMT is the governance and utility token of STEPN, but its token mechanics include both issuance and token destruction.
Inside STEPN, GMT can be burned for activities including sneaker minting, gem upgrades, attribute redistribution, sneaker enhancement and improvements to several in-app mechanics.
Users can also earn GMT through eligible sneakers and activity.
Another important change began in 2026.
STEPN introduced a GMT halving mechanism that reduces GMT emissions over time, with the current halving system beginning on January 1, 2026.
This means $GMT has several supply forces operating simultaneously:
GMT entering circulation through vesting and rewards.
Lower emissions through the halving mechanism.
GMT permanently removed through in-app burns.
The October 9 unlock should therefore not be analyzed in isolation.
Useful metrics include circulating supply, actual GMT burned, move-to-earn participation, active STEPN users, exchange inflows after the unlock and future emission rates.
Unlock: scheduled.
Market impact: still needs to be observed.