Solana blockchain features STEPN, defined as a Web3 lifestyle application. Combining GameFi elements and play-to-earn with a walking app, STEPN’s cryptocurrencies are GST and GMT tokens. Users buy NFT sneakers to earn in-game cryptocurrency while walking or running in STEPN.
What is STEPN (GMT)?
STEPN aims to revolutionize the fitness app market by encouraging millions of users to adopt a healthier lifestyle. The app uses “proof of movement” and GPS to verify users’ exercises. Notably, the app rewards users for walking or running.
STEPN users can start using the app by downloading it, linking their cryptocurrency wallets, and completing the necessary membership processes. Subsequently, users must buy NFT sneakers using SOL to earn money by walking. Additionally, users must wait 24 hours after the initial purchase for energy renewal. The amount of time a user can exercise with an NFT sneaker is measured as energy.
The STEPN ecosystem features two tokens: GST and GMT.
- GMT Token: GMT is the platform’s governance token. Therefore, GMT token holders can use them to rename sneakers or achieve higher levels. Only sneakers that reach Level 30 can exchange GMT for USDC.
- GST Token: GST is a utility token. GST tokens can be used to level up sneakers or repair them. GST tokens can be purchased through the Token Generation Event (TGE) and exchanges. Additionally, users can earn GST by walking or running.
Furthermore, according to obtained information, the amount of cryptocurrency earned varies depending on the sneaker’s features, the mode used, and the efficiency of GPS signals.
In addition, STEPN was founded in August 2021 by Australian blockchain entrepreneur Yawn Rong. Rong previously founded the Australian crypto fund Crypto SA and served as an ambassador for Algorand and an industry representative for the South Australian Blockchain Association. Also, Jerry Huang, a game developer and former founder of Falafel Games, is a co-founder of the project.
How to Buy GMT Coin?
GMT Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy GMT Coin, you must first join Binance and then transfer fiat currency. After sending fiat currency like dollars, you can buy Bitcoin (BTC), BUSD, Binance Coin (BNB), Ethereum (ETH), or Tether (USDT) to trade in the GMT pair.
Additionally, users can place a buy order at a lower price than the market value on Binance. To do this, use the Limit tab, enter the amount you want to buy and the price you want to pay.
