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About STEPN
Disclosures
STEPN risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading STEPN. All crypto assets are risky, there are general risks in investing in STEPN. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
STEPN’s price performance
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Guides
STEPN FAQ
You can easily stake GMT tokens using the OKX Earn platform. OKX Earn allows users to earn a 1 percent annual percentage rate (APR) on flexible terms.
Earning GMT tokens is as simple as engaging in physical activities such as walking or running. The more active you are, the more tokens you accumulate. Once earned, these tokens offer multiple utility options. They can be traded on exchanges, staked for potential rewards, or utilized to make purchases within the STEPN marketplace, which features a variety of items.
Easily buy GMT tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include GMT/USDT. You can swap your existing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), for GMT with zero fees and no price slippage by using OKX Convert.
Dive deeper into STEPN
When fitness meets blockchain, STEPN stands out as a distinctive and influential player. Driven by its native token, GMT, STEPN is changing how we think about fitness and blockchain, building a fitness-focused system within the decentralized world. The key innovation of STEPN is its clever way of motivating physical activity by offering real rewards, reshaping how we stay motivated for fitness in the decentralized finance (DeFi) age.
What is STEPN?
STEPN is a mobile app built on the Solana blockchain that leverages blockchain technology to motivate individuals to lead a more active lifestyle. It achieves this by rewarding users with GMT tokens for engaging in physical activities within the STEPN ecosystem. Users can accumulate GMT tokens simply by walking or running, merging the pursuit of a healthier lifestyle with the potential to earn rewards.
The STEPN team
Jerry Huang and Yawn Rong co-founded STEPN. Developed by Satoshi Lab, an Australian fintech company, STEPN earned distinction as the winner of the Solana Ignition Hackathon Gaming Track in 2021. Notably, it was the sole mobile game to receive this award.
The judges commended STEPN for its game design, integrated marketplace, user-friendly interface, wallet functionality, and ambitious goal of attracting non-crypto users to the app. With a strong foundation and recognition in blockchain gaming, the STEPN team is poised to bring innovative gaming experiences to a broad audience.
How does STEPN work?
STEPN employs blockchain technology to monitor users' physical activity using GPS and motion tracking sensors commonly found in smartphones. The app records the steps users take and translates them into GMT tokens. The more active a user is, the more tokens they earn. These tokens can be traded, staked, or used for purchases within the STEPN marketplace.
First, users must download the mobile app from either the iOS App Store or Google Play Store and sign up for STEPN. Upon registration, a wallet is created. The next step involves acquiring a Sneaker, a non-fungible token (NFT) responsible for tracking users' steps and activity within the app. To obtain a Sneaker, users transfer GMT tokens to their in-app wallet.
With these initial steps complete, users can start earning tokens by participating in STEPN's Solo mode game. Generating Green Satoshi Tokens (GST) requires energy, where 1 unit of energy corresponds to five minutes of movement for earning. GST tokens serve various purposes, such as minting shoes, repairing and enhancing sneakers, leveling up footwear, and accessing mystery boxes. The platform also incorporates an anti-cheat system, meaning the app will not function properly on jailbroken or rooted devices.
GMT tokenomics
GMT tokens have a total maximum supply of 6 billion tokens, with 1,095,050,379 tokens currently in circulation. GMT tokens follow a deflationary model, which involves burning a portion of the tokens used within the ecosystem. This gradual reduction in total supply over time can potentially enhance the value of the remaining tokens.
GMT use cases
GMT serves as the reward mechanism driving user engagement in the STEPN ecosystem. Users can earn GMT tokens by engaging in physical activities like walking and running. These tokens have practical applications, enabling users to purchase in the STEPN marketplace. The marketplace offers a range of items, including fitness equipment, health supplements, and personal training sessions. Users must acquire a Sneaker NFT using GMT to get started. Additionally, GMT tokens facilitate community involvement by enabling participation in challenges, contests, and events within the STEPN community.
GMT distribution
The distribution of GMT tokens is outlined as follows:
- 30 percent of the total GMT supply will be allocated to users through game and governance involvement.
- 30 percent of the total GMT supply is reserved for STEPN's ecosystem development and treasury.
- 16.3 percent of the total GMT supply was allocated to private sales.
- 7 percent of the total GMT supply was designated for the Binance Launchpad sale.
- 14.2 percent of the total GMT supply was allocated to the project team.
- 2.5 percent is set aside for project advisors.
The road ahead of STEPN
While still in its early phases, STEPN has already made notable progress. The team is diligently advancing various initiatives, including plans to introduce the app to more countries, thereby extending its user base. Additionally, exploring partnerships with fitness and lifestyle companies could open up new opportunities for users to earn GMT tokens and enhance the app's offerings.
Disclaimer
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