STEPN  (GMT)

About
Know More

What is STEPN (GMT)?

STEPN (GMT) is a Web 3.0 application based on the Solana blockchain. It combines aspects of Web 3.0 with GameFi to serve a popular new category—Move to Earn. Users can earn tokens by walking, running, or jogging, and spend these points on NFT sneakers. The goal of the application is to revolutionize the Move-to-Earn industry by incentivizing people to become more active and spend less sedentary time.

What makes STEPN (GMT) unique?

STEPN (GMT) directly incentivizes users to maintain healthier lifestyles by spending more time walking, jogging, or running. The project reinforces these habits by its straightforward token reward mechanism. After buying NFT sneakers on the application, users can earn Green Satoshi Tokens (GSTs) by staying on their feet. How many GST tokens they earn depends on the sneakers users buy—every pair has a different GST generation rate.

Primary features of STEPN (GMT) coin

Here are the primary features of the STEPN (GMT) coin:

• The project makes NFTs somewhat accessible for new users by allowing them to collect coins at their own pace and exchange them on the platform for whatever they can afford.
• STEPN (GMT) operates primarily with two types of tokens: GST (Green Satoshi Tokens) and GMT (Green Metaverse Token). GST tokens are unlimited and can be collected whenever users walk, jog, or run.
• GMT, on the other hand, is limited to 6 billion tokens.

Who are the founders of STEPN (GMT)?

STEPN (GMT) was founded in August of 2021 by Yawn Rong, an Australian entrepreneur operating in the blockchain space, along with his neighbor and partner Jerry Huang, a game developer and founder of Falafel Games. Mr. Rong has been credited with the success of Crypto SA, a crypto fund and audit company which he founded. He has also served as an ambassador for Algorand. Under their leadership, the project raised more than $5 million from top venture capitalists like Sequoia Capital and Solana Capital. 

How is the STEPN (GMT) network secured?

STEPN (GMT) is a Solana-based application. Until recently, STEPN (GMT) was using Orca, Solana’s most widely used decentralized exchange as its platform of preference. Since then, the project has shifted to its decentralized exchange called DOOAR.

STEPN (GMT), like Solana, works on Proof of History, which provides it the required security and immutability to record and maintain Web 3.0 transactions. 

Pros & cons

Here are some pros and cons of investing in STEPN (GMT)

Pros of STEPN (GMT)

• All users must buy NFTs to use the platform completely, which means they actively participate in the Web 3.0 community.
• The platform, at its core, promotes healthy lifestyles and fitness—ideas that never go out of style.
• The user interface has been designed to be especially friendly and welcoming, bypassing everything that makes crypto applications seem overwhelming.

Cons of STEPN (GMT)

• An upfront payment is required to buy an NFT, without which users cannot interact with the platform completely.
• Rewards might sometimes take a lot of time to accumulate.
• STEPN (GMT) faces fierce competition from projects like Mehracki, Audius, and Friends with Benefits.

Trade STEPN (GMT) on CoinSwitch

Now you can use the CoinSwitch app to trade GMT coins with hundreds of other cryptos. Visit our website to download the app and start trading today!

News Feed

Is CoinSwitch safe for crypto investments?

CoinSwitch, India’s largest crypto exchange, is a safe and reputed investment platform. In keeping with its mission to “Make Money Equal for All,” the company prioritizes quality in its product and the safety of all stakeholders.

The future of cryptocurrencies

Cryptocurrencies have emerged as an attractive investment option in recent years, capturing the imagination of investors despite their high volatility.

Introducing blockchain technology

A simple explainer can be a pretty rare thing in a realm as complicated as the cryptosphere. That’s what we are here to change—one article at a time.

How to invest in cryptocurrency in India

CoinSwitch is the leading crypto exchange in India. It is a mobile-only crypto exchange. CoinSwitch provides you the platform to buy and sell more than 80 coins such as BTC, ETH, MATIC, ADA, and LITE.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.