STEPN is an app-based digital ecosystem rewarding physically active users. The ecosystem utilizes nonfungible token (NFT) technology, letting users buy NFT shoes that then allow them to accumulate rewards based on real-world physical movement. STEPN also works with two fungible ecosystem tokens: Green Satoshi Token (GST) and Green Metaverse Token (GMT).
How does STEPN (GMT) work?
STEPN is a detailed, complex project containing a vast number of components. On a broad level, STEPN essentially utilizes an application interface in which users can manage shoes, which are NFTs. Users can then earn GST and GMT tokens for being physically active, tracked by the app. The app relies on GPS, among other aspects, to track user activity and prevent cheating.
What is STEPN (GMT)?
STEPN uses two tokens within its ecosystem: GMT and GST. GMT is the project's governance token, while GST functions as its utility token. Both are used for multiple purposes within the ecosystem. GST has an uncapped maximum token supply, with tokens running on Solana's blockchain as SPL tokens and BNB Smart Chain as BEP-20 tokens.
GMT has a token supply of 6 billion, although the STEPN whitepaper does not appear to specify on which blockchain or blockchains GMT tokens operate. Block explorers for Solana and BNB Smart Chain, however, seemingly show GMT tokens on those blockchains.
The STEPN app/ecosystem includes shoes in the form of NFTs on the app. These digital shoes can be purchased and allow the holder to earn rewards based on physical movement, taking into account a variety of variables around the NFT shoes such as shoe level and shoe type. The STEPN ecosystem also includes many other aspects, such as energy, which determines how long a user can move and earn within a time period. A number of functions within the STEPN ecosystem require burning GST and/or GMT, depending on the action — burning GST to increase a shoe's level, for example.
STEPN price today
The STEPN crypto project does not directly have a price, although its governance asset, Green Metaverse Token (GMT), can be priced in U.S. dollars. The top of the page shows a GMT to USD live price, STEPN's (GMT's) market cap and more.