Community Forex Questions
How does STEPN (GMT) work?
STEPN is a detailed, complex project containing a vast number of components. On a broad level, STEPN essentially utilizes an application interface in which users can manage shoes, which are NFTs. Users can then earn GST and GMT tokens for being physically active, tracked by the app. The app relies on GPS, among other aspects, to track user activity and prevent cheating.
STEPN uses two tokens within its ecosystem: GMT and GST. GMT is the project's governance token, while GST functions as its utility token. Both are used for multiple purposes within the ecosystem. GST has an uncapped maximum token supply, with tokens running on Solana's blockchain as SPL tokens and BNB Smart Chain as BEP-20 tokens.

GMT has a token supply of 6 billion, although the STEPN whitepaper does not appear to specify on which blockchain or blockchains GMT tokens operate. Block explorers for Solana and BNB Smart Chain, however, seemingly show GMT tokens on those blockchains.
STEPN (GMT) is a move-to-earn blockchain-based fitness app that rewards users with cryptocurrency for walking, jogging, or running. Built on Solana, it integrates GameFi and SocialFi elements to promote a healthy lifestyle.

Users need to purchase or rent NFT sneakers to start earning Green Satoshi Tokens (GST), which are used for in-game rewards. GMT (Green Metaverse Token) serves as the governance token, allowing holders to vote on platform decisions and upgrade sneakers.

STEPN employs an anti-cheating mechanism to ensure fair play and rewards are based on real movement. Earnings depend on sneaker attributes, energy levels, and movement speed. The app aims to drive mass Web3 adoption while promoting fitness, offering an innovative model blending crypto, health, and social engagement.

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