What is STEPN (GMT)?
STEPN is a groundbreaking Web3 lifestyle application that intertwines elements of GameFi, play-to-earn, and fitness. This innovative platform, featuring GST and GMT tokens, offers users a unique way to earn cryptocurrency by simply walking or running. The process begins with purchasing NFT sneakers, which can then be utilized to collect in-game cryptocurrency rewards.
Accessing the STEPN ecosystem:
To start using the application, download the app, link your cryptocurrency wallet, and complete the necessary membership processes. Upon purchase, NFT sneakers can be acquired with SOL, enabling users to earn as they exercise. It’s essential to note that a 24-hour cooldown period is enforced after the initial purchase, during which energy is replenished. The duration that an NFT sneaker can be used for physical activities is referred to as energy.
Within the STEPN environment, two tokens play pivotal roles: GST and GMT.
GMT Token:
The GMT token serves as the governance token of the platform. GMT holders have the ability to modify the sneakers’ names or advance to higher levels. Only sneakers that have reached Level 30 can exchange GMT for USDC.
GST Token:
The GST token is a utility token that facilitates the leveling up of sneakers or repairs. Users can acquire GST tokens through Token Generation Events (TGE) or exchanges. Additionally, walking or running in STEPN provides users with the opportunity to earn GST tokens.
Regarding the amount of cryptocurrency earned, it varies based on the sneakers’ characteristics, the mode of exercise, and the efficiency of GPS signals.
STEPN was founded in August 2021 by Yawn Rong, an Australian blockchain entrepreneur with a history of founding Crypto SA, a crypto fund, and serving as an ambassador for Algorand and industry representative for the South Australian Blockchain Association. Jerry Huang, a game developer and former founder of Falafel Games, is also a co-founder of the project.
How to Buy GMT Coin?
Acquiring GMT Coin can be done swiftly and securely through Binance, the world’s largest cryptocurrency trading platform by trading volume. The first step involves joining Binance and transferring fiat currency. After depositing cash, such as USD, you can purchase Bitcoin (BTC), BUSD, Binance Coin (BNB), Ethereum (ETH), or Tether (USDT) to trade in the GMT pair.
Alternatively, users can place a buy order at a lower price than the market value on Binance. This can be achieved by using the Limit tab, specifying the desired amount and price to pay.
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Disclaimer:
The information provided should not be considered investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risk. They should conduct their own research before making any investment decisions.