Green Metaverse Token (GMT)

• 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 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.

• 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.

• 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.

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

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

4. Token sales and economics

4.1 Token sales data

4.2 Token allocation

GMT token allocation

GMT token release schedule

5. Project team

6. Roadmap, updates, and business development

6.1 Completed Milestones

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

• Twitter

• Telegram

• Discord

• Reddit

8. Appendix

• Website

• Medium

• Whitepaper

• Linktree

8.1 Advisors

• Scott Dunlap: VP at Adidas, CEO at Runtastic

• Will Robinson: Head of Accelerator of DeFi Alliance

• Jason Kam: Founder of Folius Venture

• Santiago Roel Santos: Web3 investor, Former Partner of Parafi Capital