STEPN

STEPN is a novel move-to-earn lifestyle app, which combines fitness with a game-fi model. STEPN aims to revolutionize the world of fitness as we know it by utilizing web3 technology. As an application, STEPN was built on the Solana blockchain.

Users of STEPN are required to own an NFT sneaker before they can start earning. These sneakers can be purchased on NFT marketplaces, like Magic Eden, OpenSea, or the Binance NFT Marketplace. Users may either purchase a sneaker, or a capsule, which will then provide them with a randomized sneaker NFT. Sneakers come with different statistics and rarity levels, all of which affect their performance. When used, sneakers progress to higher levels, which unlocks more of their potential. When they reach a certain level, users can insert gems into the sneaker's sockets, to further enhance their performance. When a user has two sneakers in their possession, they may mint a new sneaker. Each sneaker can only be used in a minting process 7 times. Minting sneakers also has a cost in GMT and GST, the two tokens of STEPN.

There will be several modes in which users can "play". Solo mode refers to the standard game mode. In it, a user equips their sneaker and earns by either walking or running, depending on the sneaker specifications.

The other modes are currently under development. Marathons will be weekly and monthly events that will require pre-registration. In them, users will be ranked in terms of their speed and their sneaker attributes. All participants will receive an NFT badge and the marathon winners will also share a token prize pool. Another upcoming mode is called the background mode. It will passively count steps taken during the day and convert them to in-game currency.

GMT tokens are one of the two native cryptocurrencies of the platform. It is a governance token with a fixed supply of 6 billion. GMT can be earned in-app whenever a user's sneaker reaches level 30. GMT can be burnt in-app for many benefits, like levelling, upgrading gems, and increasing the amount of GST earned. GMT also corresponds to the user's voting power when taking part in the governance process. The longer the period of time the user locks their GMT for, the more voting power they receive.