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logoGreen Metaverse Token (GMT)

The Governance Token of STEPN, A Move-to-Earn Health and Fitness Application.
  • STEPN is a move-to-earn health and fitness application. Users equipped with sneaker NFTs can move outdoors to earn tokens and NFT rewards. STEPN has a built-in wallet, swap, marketplace, and rental system that allow non-crypto users to onboard STEPN.

  • STEPN has a dual-token system, a game token - Green Satoshi Token (GST) and a governance token - Green Metaverse Token (GMT).

  • GMT is the native governance token of STEPN and has the following use cases:

    • Governance: Stake to participate in governance, the longer the locking period, the higher the voting power.
    • Staking reward: GMT stakers can vote to decide the distribution of staking rewards.
    • Accrual of protocol revenue: GMT is burned to access in-app features, such as sneaker upgrades and minting of new sneakers.
  • Current features of STEPN include:

    • Mobile application: STEPN is live on iOS App Store and Google Play store (Restricted to certain countries).
    • Sneaker NFT: Every sneaker has different types, qualities, attributes, and gem sockets. Users can burn tokens to level up and customize sneakers.
    • Move and Earn: Users equipped with sneakers NFT can move outdoors and earn tokens. There are multi-layers anti-cheating mechanics to prevent exploitation.
    • Rental system: Users can rent a sneaker for free, move and earn and then split the earnings with the sneaker owner.
    • In-app NFT marketplace: Users can trade their NFTs on the marketplace.
    • In-app swap: Users can swap their token earnings to other forms of cryptocurrencies.
    • In-app decentralized wallet: Users can deposit and send cryptocurrencies to the wallet to fund their spending accounts.
  • STEPN has raised ~5MM USD from investors, where 16.30% of the GMT total token supply has been sold at around 0.005 USD/GMT.

  • As at March 1st 2022, the total supply of GMT is 6,000,000,000 and the circulating supply upon listing will be 10% of the total token supply.

1. What is STEPN?

stepn

  • STEPN is a health and fitness app, users equipped with sneakers NFT can move outdoors to earn tokens.
  • The sneaker NFT can be upgraded and comes in different types, qualities, and sockets.
  • STEPN has a dual-token system, a game token GST and a governance token GMT, users stake GMT to participate in governance.
  • The project aims to inspire millions of people to a healthier lifestyle, connect them to Web3 and combat climate change.
  • STEPN offers diverse in-app gamification features such as sneaker leveling, shoe-minting, mystery boxes, NFT customization, and social interactions.
  • STEPN uses token rewards to incentivize users to exercise daily and enhance their fitness level.

2. Project Key Highlights

  • Seamless Crypto experience: STEPN builds a full ecosystem vertical including in-app wallet, swap, and marketplace so that the app is intuitive to use.
  • Onboarding non-crypto users: Rental system enables non-crypto users to try for free and once they have saved up enough tokens, they can buy a sneaker NFT and start their crypto journey.
  • Friendly to all fitness levels: Different types of sneakers are designed for different fitness levels, users can choose to walk, jog or run to earn tokens.
  • Carbon Neutrality: Governance voting decides how much profit STEPN will donate for the cause of Carbon Neutrality.
  • Available on iOS/Android: Users can download STEPN from iOS AppStore and Google Play Store.
  • Fast growing & Crypto native: Supported by the community, STEPN has reached around 21k DAU and 66k MAU in less than two months of Public Beta.

3. Existing Products

  • Solo Mode (move & earn): By simply pressing the START button, users can start to move and earn token rewards with a small chance to receive Mystery Box that contains Gems NFT.

Solo

  • Sneakers and Gems NFT: Sneaker NFT can be leveled up by burning tokens. Users can add attributes points and Gems NFT to the sneaker in order to boost its performance.

Sneaker

  • Minting & Shoebox: By putting two sneakers NFT together and burning some tokens, users can mint one Shoebox, or on rare occasions, two/three Shoeboxes at the cost of one. Opening the shoebox will give the user one random sneaker NFT.

Shoebox

  • NFT Marketplace: Users can trade their sneaker NFT, Shoeboxes, Gems and Achievement Badges on the marketplace. Users can also rent sneakers here for free.

Marketplace

  • Decentralized Wallet & Swap: Users can buy cryptocurrencies through a portal to Binance; swap tokens to other cryptocurrencies and send/deposit tokens/NFTs.

Wallet

4. Token sales and economics

4.1 Token sales data

Token NameGMT
Token TypeSolana SPL
Total Token Supply6,000,000,000 GMT
Private Sale Allocation978,000,000 GMT
Private Sale Token Price~ 0.005 USD / GMT
Private Sale Amount Raised~ 5,000,000 USD
Binance Launchpad Sale Allocation420,000,000 GMT
Binance Launchpad Sale Price0.010 USD / GMT
Binance Launchpad Amount to be Raised4,200,000 USD
Initial Circ. Supply When Listed on Binance600,000,000 GMT (10.00%)

4.2 Token allocation

Token NameGMT
Private Sale16.30% of the total token supply
Binance Launchpad Sale7.00% of the total token supply
Team14.20% of the total token supply
Advisors2.50% of the total token supply
Ecosystem/ Treasury30.00% of the total token supply
Move and Earn30.00% of the total token supply
GMT token allocation
GMT token release schedule

5. Project team

Jerry Huang
Co-founder
Decades of experience in game development, operation, and marketing. Developed several games with top ranking on the iOS app store.
Yawn Rong
Co-founder
Entrepreneur, crypto angel investor, and start-up incubator. Experienced in scaling businesses and start-ups.
Jessica Duan
CSO
A well-rounded executive with formal qualifications in design. Experienced in operational management and strategy, high-end client consulting, marketing, and business development.

6. Roadmap, updates, and business development

6.1 Completed Milestones

Completion DateMilestoneCommentary
2021: Q3Solana Ignition Hackathon Gaming Track WinnerLink
2021: Q4Public Beta Release with Decentralized Wallet Function LaunchMedium Announcement
2021: Q4Fundraising CompleteMedium Announcement
2022: Q1Release Marketplace and Swap FunctionTweet
2022: Q1iOS Official LaunchTweet
2022: Q1Reached 21k DAU and 66k MAUTweet

6.2 Updated roadmap

Q1 2022:

  • Rental system
    • A credit system that uses quiz to train renters to understand how STEPN works.
    • A matching system in the Marketplace to match renters and sneaker owners based on renters' credit rating.
    • A rental system that uses smart contracts to settle the rental agreement.
  • Multi-chain Wallet
    • Users can deposit and send both Solana and EVM blockchains' assets.

Q2 2022:

  • Leaderboard
    • A PvP Leaderboard linked with Marathon Mode, ranking players, groups of players on the Leaderboard.
  • Marathon Mode
    • A weekly or monthly marathon, users need to pay a registration fee to participate.
    • Top-ranked players or groups of players will receive PvP rewards.
  • Governance
    • Users can stake GMT in-app to participate in the governance.

Q3 2022:

  • Achievement system
    • Based on users' activities, the app will issue achievement badges to users. Some of the achievement badges have special in-app perks.
    • The achievement badge can be traded in the Marketplace.
  • Quest system
    • A daily, weekly quest system enables users to earn extra rewards through completing certain tasks.
  • Background Mode
    • A background mode enables users to earn tokens without actively playing the Solo Mode.

Q4 2022:

  • Fiat on/off Ramp
    • A fiat on and off-ramp to connect non-crypto users to the STEPN app.
  • Social-Fi
    • STEPN will implement social interaction functions in-app via Location-Based Services (LBS).

7. Community

8. Appendix

8.1 Advisors