GMT GMT Price

What is GMT (GMT)?

Revolutionizing Fitness and Finance Through Move-to-Earn

STEPN introduces the concept of "move-to-earn," combining fitness incentives with a play-to-earn game model, where users can turn their physical activity into financial rewards through the purchase of NFT sneakers.

Founders and Funding:

Founded in August 2021 by Australian blockchain entrepreneur Yawn Rong and game developer Jerry Huang, STEPN quickly gained momentum. The project successfully raised $5 million in a seed round from prominent crypto venture capital firms such as Sequoia Capital, Folius Ventures, Solana Capital, Alameda Research, and others. Notable angel investors include Santiago R Santos and Republic Zhen Cao.

Unique Features:

STEPN disrupts the fitness industry by incentivizing users to adopt healthier lifestyles. The app introduces a token reward mechanism where users, equipped with NFT sneakers, can earn Green Satoshi Tokens (GST) by engaging in physical activities like walking, running, or jogging. The gamification of fitness through in-game rewards, energy allowances, and customized sneakers sets STEPN apart.

The app plans to launch Marathon Mode, offering weekly and monthly races with a leaderboard for participants. Additionally, STEPN contributes to carbon neutrality by investing in Carbon Removal Credits on Solana to combat climate change.

Dual-Token Model:

STEPN operates on a dual-token model, featuring a utility token called GST and a governance token called GMT. GST is earned for movement and has burn mechanisms to deter inflation, while GMT serves as the governance token, with a total supply of 6 billion. The token distribution includes allocations for move and earn, ecosystem and treasury, private sale, launchpad sale, team, and advisors.

Security on Solana Blockchain:

Built on the Solana blockchain, STEPN benefits from a robust security infrastructure. Solana's proof-of-history consensus, combined with a proof-of-stake mechanism and 200 globally distributed nodes, allows for high transaction throughput, processing up to 50,000 transactions per second at peak performance.

Game Mechanics and Modes:

The STEPN mobile app, available on both iOS and Android, offers users a range of features, including a Sneaker NFT marketplace, in-app swap, decentralized wallet, and an innovative Rent Now Pay Later (RNPL) system. Players can engage in Solo Mode, Marathon Mode, and even earn rewards in Background Mode for daily steps.

Roadmap and Achievements:

Since its open beta launch in December 2021, STEPN has continually evolved, introducing features like the Gem system, in-app NFT marketplace, and multi-chain wallet support. Notably, the game secured the fourth position in the Solana Ignition hackathon's gaming category.

The Utility of GMT Token:

GMT, the governance token, empowers users within the STEPN ecosystem. It provides voting rights for governance decisions, serves as a reward for active gameplay, and is crucial for upgrading sneaker NFTs. Moreover, GMT is a tradable asset with potential investment value and opportunities for staking to earn passive income.

In conclusion, STEPN's innovative approach to combining fitness and finance within the Web3 space marks a significant leap forward. With a strong foundation, strategic partnerships, and a user-centric design, STEPN is well-positioned to reshape the landscape of health and fitness applications while contributing to the broader adoption of blockchain technology.

What is unique about GMT (GMT)?

STEPN stands out for its innovative "move-to-earn" concept, combining fitness and finance through a Web3 lifestyle app on the Solana blockchain. Users can earn Green Satoshi Tokens (GST) by engaging in physical activities with NFT sneakers, introducing a gamified approach to a healthier lifestyle and unique carbon neutrality contributions.

Who are the founders of GMT (GMT)?

Founded in August 2021 by Australian blockchain entrepreneur Yawn Rong and game developer Jerry Huang, STEPN has visionary leaders with a track record in the crypto space. Yawn Rong, known for founding Crypto SA, and Jerry Huang, a former founder of Falafel Games, bring diverse expertise to the project.

Who are the backers/investors of GMT (GMT)?

STEPN has garnered significant support from major crypto venture capital firms, including Sequoia Capital, Folius Ventures, Solana Capital, Alameda Research, and others. Notable angel investors such as Santiago R Santos and Republic Zhen Cao have also contributed to the project's success.

What is the consensus mechanism of GMT (GMT)?

Where can I buy GMT (GMT)?

You can buy GMT (GMT) on Binance, Bitget, MEXCBybitGate.io cryptocurrency exchanges.