STEPN (GMT) is a Solana-based move-to-earn mobile application that rewards users with cryptocurrency tokens for engaging in outdoor fitness activities such as walking, jogging, and running. The app uses a dual-token economic model, featuring the governance token GMT and the utility token GST. Users can earn tokens by exercising, which can be swapped for other cryptocurrencies or used for in-app purchases.
STEPN (GMT) is a Move-to-Earn (M2E) application that runs on Solana's blockchain. Users can earn crypto assets by moving, such as walking, jogging, or running, while wearing NFT sneakers. The application tracks the user's movements using GPS and rewards them with tokens, specifically Green Satoshi Token (GST) and Green Metaverse Token (GMT).
Key Uses of GMT and GST TokensGMT Token:
- Governance token, allowing holders to participate in decision-making processes on the platform.
- Used for sneaker upgrades, minting new sneakers, and accessing premium game content.
- Can be swapped with USDC once sneakers reach Level 30.
- Used for distributing game profits and high-level activities.
- Provides voting power and access to special features.
GST Token:
- Utility token with an unlimited supply.
- Earned through physical activities like walking, jogging, or running.
- Used for various in-app activities:
- Minting new sneakers.
- Repairing sneakers.
- Leveling up sneakers.
- Unlocking sockets and adding gems.
- Swapping with USDC.
GMT Token Burn:
- Quarterly buyback and burn of GMT tokens to reduce supply and support price stability.
- Burned during in-app activities like sneaker customization, leveling up, and minting new sneakers.
- Used in governance activities, which also lead to token burning.
GST Token Burn:
- Burned during activities like minting new sneakers, repairing sneakers, leveling up sneakers, and unlocking sockets.
- Designed to control inflation and increase scarcity.
- Sneaker Customization: GMT tokens are used for customization fees.
- Passive Income: GMT tokens can be staked to earn passive income.
- Rental Markets: Sneakers can be rented out to earn passive income.
- Governance: GMT holders participate in decision-making processes on the platform.
Overall, STEPN (GMT) combines physical activity with cryptocurrency rewards, encouraging users to stay active while earning digital assets.
To store STEPN (GMT) tokens, you can use various methods:
KuCoin Account: You can store your GMT tokens directly in your KuCoin account. This provides a secure and trusted environment for holding your tokens.
Non-Custodial Wallets: You can also store your GMT tokens in non-custodial wallets, which give you full control over your assets. This option is recommended for users who prefer to manage their tokens independently.
Solana-based Phantom Wallet: Another option is to transfer your GMT tokens to a Solana-based Phantom wallet, which is compatible with the STEPN ecosystem.
- In-app Wallet: You can also store your GMT tokens within the STEPN app itself. This allows you to manage your tokens and exchange them for other cryptocurrencies like SOL, BNB, or ETH.
Each of these methods provides a secure way to store your GMT tokens, ensuring you have access to them whenever needed.
To buy STEPN (GMT) tokens, follow these steps:
Create an Account:
- Kraken: Create a Kraken account, fund it, and select your desired GMT trading pair.
- Coinbase: Download the Coinbase app, sign up, and verify your ID. Add a payment method and start a trade.
- Securities.io: Choose an exchange, create an account, verify your email and identity, make a deposit, and buy GMT.
- Binance: Register on the Binance website or app, verify your identification, and choose how you want to buy GMT.
- KuCoin: Create a free KuCoin account, secure and verify it, add a payment method, and buy STEPN (GMT).
Fund Your Account:
- Kraken: Fund your account with the desired currency.
- Coinbase: Add a payment method, such as a bank account, debit card, or wire transfer.
- Securities.io: Deposit funds using a debit card, credit card, wire transfer, or Bitcoin.
- Binance: Deposit fiat currency or use a stablecoin like USDT to buy GMT.
- KuCoin: Add a payment method to fund your account.
Select GMT:
- Kraken: Select your desired GMT trading pair.
- Coinbase: Search for STEPN and select it from the list of assets.
- Securities.io: Compare exchanges and select the one offering GMT.
- Binance: Choose GMT from the dropdown menu.
- KuCoin: Select STEPN (GMT) from the available assets.
- Buy GMT:
- Kraken: Start trading GMT.
- Coinbase: Enter the amount you want to spend and confirm your purchase.
- Securities.io: Use your funds to buy GMT.
- Binance: Confirm your order and buy GMT.
- KuCoin: Buy STEPN (GMT) on the KuCoin Spot Market.
Remember to follow the specific instructions for each platform and ensure you understand the fees and risks involved in buying and trading cryptocurrencies.
