STEPN is a revolutionary, decentralized lifestyle and fitness platform that aims to combine blockchain technology and fitness using GameFi elements on the Solana blockchain. The platform allows users to combine play-to-earn and fitness elements to improve exercise such as running, walking, or jogging. The idea is to leverage cryptocurrencies and blockchain technology to assist users in boosting their physical and mental health.
This is a revolutionary step forward in the fitness industry as digital currency in fitness has been a topic of discussion for years. STEPN is aiming to integrate these two worlds together using blockchain technology. Blockchain technology has been applied to incentivize players by introducing an innovative “move-to-earn” principle model.
The platform employs proof-of-movement tools and a functioning GPS system embedded in the NFT sneakers to log the activity, allowing users to prove they accomplished something valuable with their time.
The STEPN token (GMT) is built on the Solana blockchain and designed to be used in smart contracts implemented on the network. The STEPN app is compatible with both Android and iOS devices.
Who Are the Founders of STEPN (GMT)?
Yawn Rong is the CEO and founder of STEPN (GMT). He is also the founder of Crypto SA, an Australian crypto fund and pro-regulation auditor. He’s also served as an ambassador for Algorand and as an industry representative of the South Australian Blockchain Association.
Jerry Huang is the CTO of STEPN (GMT). He’s a game developer, former founder of Falafel Games, and has over 10 years of experience in game development. He is responsible for the design, development, and product growth of the project.
What Is STEPN (GMT) Used For?
STEPN (GMT) is the digital currency used for transactions or play on STEPN’s platform. The token allows users to save and accumulate STEPN points (SPS) on their NFT sneakers, then use these steps to meet fitness goals.
The NFT sneakers developed by STEPN (GMT) are designed to be fashionable, durable, and environmentally friendly. The sneakers are compatible with both Android and iOS devices. They also employ GPS technology embedded in the NFT sneakers to log users’ activity.
What Is the Unique Point of STEPN (GMT)?
The STEPN platform combines blockchain technology and fitness together. It uses blockchain technology to build a tracking infrastructure called Proof of Movement (PoM). This will track user activity while they do what they love. If a user runs 100 kilometers, the PoM function tracks all these steps, allowing the user to earn rewards for their activity.
Another feature that distinguishes SPEPN is its dual token model (GMT & GST), which is required for utility and governance. Users can obtain each token in various ways.
There are a variety of NFT sneakers available according to performance, each of which delivers specific Green Satoshi Tokens (GST) token rates as users conduct exercises such as running or jogging. A more efficient sneaker produces more GST returns each minute than others.
How Many STEPN (GMT) Coins Are in Circulation?
STEPN employs a dual token model in which GST is the utility token, whereas GMT is the governance token. GST is an inflationary token with unlimited supply but undergoes multiple burn mechanisms to reduce inflation.
GMT has a circulating supply of 600,000,000 tokens and market cap of $563,755,761.
How is the STEPN Network Secured?
The project is built on the Solana blockchain and employs a proof-of-history consensus combined with a Proof of Stake (PoS) consensus mechanism with partial Byzantine fault tolerance which applies smart contract-based staking to achieve consensus on the blockchain. PoS achieves high efficiency in transaction finality with minimal computational power.
How do I buy STEPN (GMT) Coins?
GMT has seen unprecedented growth in recent times, making it one of the top-performing crypto tokens of 2022. To purchase GMT tokens, you’ll need to buy STEPN tokens from an exchange that lists them. Currently, it is available on Binance, OKX, Bybit, CoinTiger, FTX and more. You can view instructions on how to do it in our guide here.
*Create an account with a crypto trading platform or log in if you’re already registered.
*Deposit fiat money into the trading account.
Which Cryptocurrency Wallet Supports STEPN (GMT)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as STEPN (GMT). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their GMT wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.