GMT Price

What Is STEPN?

STEPN is a web3 move-to-earn project that encourages a healthy lifestyle using NFTs on the Solana blockchain. With climate change becoming an increasingly grave problem, STEPN strives to reduce carbon emissions, and encourage people around the globe to exercise, stay fit and even socialize.

Anyone can sign up for the free STEPN app. With every step you take, you earn GMT, STEPN’s native token. Simply buy an NFT-based sneaker on the app, head outdoors and become active by walking, running, jogging and more.

Since STEPN’s launch in Dec. 2021, the app has piqued the interest of not just the Solana community, but the crypto space as well. The team is currently working on expanding the project’s reach with an innovative blend of GameFi and SocialFi elements. Currently, STEPN is in the public beta phase.

What Is GMT?

The Green Metaverse Token (GMT) is the native token of the STEPN ecosystem. To earn GMT, users participate in outdoor activities, including (but not limited to) walking, running and jogging. The token is also rewarded to users who own a sneaker that’s level 30 and above (more on this in “How Does STEPN Work?”).

GMT/STEPN Price and Tokenomics

GMT hit its highest price of $4.11 on April 28, 2022. Do note that GMT prices may vary according to market circumstances. For real-time information on GMT price, you can refer to the price chart at the top of this page.

The maximum supply of GMT tokens is set at 6 billion, meaning there will never be more than 6 billion tokens in circulation. At the time of this writing, 600 million GMT tokens are in circulation.

The GMT token is being released as follows:

30%: Rewards Pool

70%: Genesis Block & Community Fund

According to STEPN’s road map, 30 percent of GMT tokens will be released to its users as rewards. Additionally, per the token’s deflationary nature, the total amount of GMT to be released is set to halve every three years. Around 95 percent of GMT tokens will be distributed by January 2030.

Who Is the Founder of STEPN?

STEPN was founded by Australian blockchain entrepreneur Yawn Rong and his neighbor and partner, Jerry Huang. Rong previously served as an ambassador to Algorand and founded Crypto SA, a blockchain regulation firm, while Huang is the co-founder of Falafel Games, an MMO game development company.

Read more: STEPN (GMT Crypto): The Move-to-Earn Pioneer You’ll Love

What Is GMT Used For?

GMT is mainly used for governance on the STEPN platform. Apart from paying transaction fees, GMT is used to incentivize user participation by rewarding those who engage in regular physical activity. GMT can also upgrade users to certain levels, and be exchanged for other cryptocurrencies.

STEPN is on the fast track to becoming a DAO (decentralized autonomous organization). GMT is valuable because it’s used for governance on the STEPN platform, meaning token holders have a say in how the platform is run.

NFT-based sneakers, purchased to participate in the app, produce varying levels of GMT, with higher-end sneakers producing more GMT per minute.

Below level 30, users earn the Green Satoshi Token (GST), which is built to have an unlimited supply. Sneakers can be upgraded by exchanging GST for GMT.

How Does STEPN Work?

STEPN’s system, designed to help regulate inflation levels, works as follows:

1. Purchase an NFT Sneaker: To begin their journey on STEPN, users purchase an NFT sneaker on the platform’s marketplace with GST.
2. Run, Walk or Jog: Users run, walk or jog to earn GST tokens.
3. Upgrade Sneakers: Users can upgrade their sneaker (up to level 30) by exchanging their GST for GMT.
4. Earn GMT.

Game Modes

The STEPN app features three game modes designed to cater to different types of users.

Solo mode: Individual users who want to compete for the top spot.

Background mode: Users who want a passive source of income while they walk or run can earn GST as long as they have an NFT-based sneaker.

Marathon mode (to be launched Oct. 2022): Users looking to take on long-distance challenges will gain access to marathon events with 24-hour prior access to registration.

Sneakers

STEPN players need to buy an NFT sneaker before they can start earning GST, as well as an asset called energy. Every five minutes of physical exercise nets the user a certain amount of energy and GST, and energy is crucial in determining the maximum amount of GST a user can earn.

On STEPN, sneaker NFTs are categorized according to four attributes:

1. Efficiency
2. Luck
3. Comfort
4. Resilience

The attributes determine how much GST an NFT owner gets, the frequency of mystery box drops they receive and the durability of the NFT sneaker.

NFT sneakers come in varying types (walker, jogger, runner, trainer) and quality (five tiers ranging from Common to Epic). STEPN also features an NFT-burning mechanism — users can upgrade their sneaker’s quality by burning five low-quality sneakers, as well as GST and GMT. Finally, users can customize their NFT sneakers by changing their colors and designs to suit their tastes.

Governance

STEPN is on track to release GMT staking rules and treasury management in 2022. After the changes have been implemented, users will be able to earn rewards by simply holding GMT tokens in their wallets.

What Makes STEPN Unique?

Highly Scalable Foundation

STEPN is built on the scalable Solana blockchain, meaning it can handle a large number of transactions without any issues.

Dual-Token Economy

STEPN's dual-token economy allows users to earn the Green Metaverse Token (GMT) and the Green Satoshi Token (GST). Although the tokens have different purposes, both are needed to buy items and access certain features on the STEPN app.

GameFi/ Move2Earn Approach

STEPN's GameFi approach allows you to earn real-world rewards for using the app. Users can earn GST or GMT tokens that can be exchanged for real-world products and services.

How to Store GMT

GMT can be stored on any wallet that supports the Solana blockchain.

How to Buy GMT

You can buy GMT from top cryptocurrency exchanges including Bybit. [Editor's note: Please do your own research, and trade GMT at your own risk.]

Buying GMT on Bybit

To purchase GMT on Bybit, simply follow these steps:

1. Head to Bybit’s spot trading page (Home → Trade → Spot Trading).
2. Select your trading pair on the left side of the page. For GMT, you can trade with USDT (GMT/USDT), USDC (GMT/USDC), or go long or short with GMT2L/USDT and GMT2S/USDT, respectively.
3. Choose the type of order you’d like to make: Limit Order, Market Order or Conditional Order.

For Limit Orders:

1. Select Limit.
2. Enter the order price.
3. Enter the number of GMT you want to buy.
4. Click on Buy GMT.
5. Once you’ve confirmed your information is correct, click on Buy GMT.
6. View your order details under Active on the web page, or Orders if you’re using the Bybit app.

For Market Orders:

1. Select Market.
2. Enter the amount in USDT that you’ve paid to buy GMT.
3. Click on Buy GMT.
4. Once you’ve confirmed your information is correct, click on Buy GMT.
5. View your order details under Filled.

For Conditional Orders:

1. Select Conditional.

2. Enter the trigger price.

3. Choose to execute at Market Price or Limit Price.

1. Market Price: Order price doesn’t need to be set.

2. Limit Price: Order price needs to be set.

4. According to order types:

1. Market Buy: Enter the amount in USDT you’ve paid to buy GMT.

2. Limit Buy: Enter the number of GMT you want to buy.

5. Click on Buy GMT.

6. Once you’ve confirmed your information is correct, click on Buy GMT.

7. View your order details under Conditional on the web page, or All Orders → Current Orders on the Bybit app.

For more help, visit the Bybit spot trading guide.