{"id":37723,"date":"2022-08-20T19:05:00","date_gmt":"2022-08-20T16:05:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37723"},"modified":"2025-08-29T20:29:31","modified_gmt":"2025-08-29T17:29:31","slug":"what-is-stepn-and-the-gmt-cryptocurrency","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/what-is-stepn-and-the-gmt-cryptocurrency\/","title":{"rendered":"What is STEPN and the GMT cryptocurrency?"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Key points<\/h2>\n<ul class=\"wp-block-list\">\n<li>STEPN is a mobile app from the Australian studio Find Satoshi Lab. It follows a Move-to-Earn (M2E) model: users receive tokens (GST or GMT) for running or walking.<\/li>\n<li>To use STEPN you need to buy \u201csneakers\u201d in the form of NFTs inside the app, or on third-party marketplaces such as Magic Eden, OpenSea or Binance NFT. As they are used, sneakers level up and their attributes improve.<\/li>\n<li>Earnings depend on the level and attributes of the sneakers, as well as on the user\u2019s activity: the faster and more often they move, the more cryptocurrency they receive.<\/li>\n<li>The STEPN app is available on <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.bcy.fsapp&#038;hl=en&#038;gl=US\" target=\"_blank\" rel=\"noreferrer noopener\">Google Play<\/a> (Android) and the <a href=\"https:\/\/apps.apple.com\/ru\/app\/stepn\/id1598112424\" target=\"_blank\" rel=\"noreferrer noopener\">App Store<\/a> (iOS).<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Who created STEPN?<\/h2>\n<p>The STEPN app was developed by the Australian company Find Satoshi Lab. Its co-founders, Jerry Huang and Yawn Rong, have years of experience in mobile development. Advisers to the start-up include Scott Dunlap, vice-president of the digital division at Adidas Runtastic, and William Robinson of Alliance DAO.<\/p>\n<p>Backers of STEPN include Sequoia Capital, Alameda Research, Folius Ventures, Solana Ventures, 6th Man Ventures, Sfermion and others. The project raised $5m in total.<\/p>\n<p>In March 2022 Binance\u2019s venture arm announced a strategic investment in the start-up.<\/p>\n<p>According to the team, platform profit in the second quarter of 2022 was $122.5m.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">How to get a STEPN code<\/h2>\n<p>You cannot simply register in STEPN \u2014 a unique code is required. This is a kind of invitation ticket that lets you become a user. You will still have to buy STEPN NFT sneakers (see below).<\/p>\n<p>Previously it was hard to obtain a code. Now any new user can get one on the <a href=\"https:\/\/stepn.com\/getCode\" target=\"_blank\" rel=\"noreferrer noopener\">official website<\/a> (though the number of daily requests is limited).<\/p>\n<p>In addition, any user who has spent at least 10 units of energy in the app can generate a code and share it. The invite code is not a referral and confers no advantages.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Is there an official Russian-language community?<\/h2>\n<p>The app\u2019s mechanics and reward system are fairly complex. You can ask questions or help newcomers in STEPN\u2019s official communities on <a href=\"https:\/\/t.me\/stepnru\" target=\"_blank\" rel=\"noreferrer noopener\">Telegram<\/a> (in Russian) and <a href=\"http:\/\/discord.gg\/stepn\" target=\"_blank\" rel=\"noreferrer noopener\">Discord<\/a> (in English). There is also a <a href=\"https:\/\/t.me\/STEPNruNEWS\" target=\"_blank\" rel=\"noreferrer noopener\">Russian-language news channel<\/a> on Telegram about STEPN.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">How does the STEPN app work?<\/h2>\n<p>To start using STEPN, you need to acquire a digital item \u2014 sneakers in the form of a <a href=\"https:\/\/forklog.com\/en\/news\/what-are-nfts\">non-fungible token (NFT)<\/a>. You can buy them in the app or on marketplaces such as <a href=\"https:\/\/magiceden.io\/marketplace\/stepn\" target=\"_blank\" rel=\"noreferrer noopener\">Magic Eden<\/a> and <a href=\"https:\/\/opensea.io\/collection\/stepn\" target=\"_blank\" rel=\"noreferrer noopener\">OpenSea<\/a>. As of late August 2022, the cheapest STEPN NFT sneakers cost about 1.6 SOL (around $55). To earn rewards from using them, the token must be held in the custodial wallet inside the app.<\/p>\n<p>The in-app marketplace also offers an NFT rental feature \u2014 sneakers can be borrowed for free, but you must share part of the reward with the owner.<\/p>\n<p>Once the user adds an NFT to the app, it tracks movement using GPS when enabled. During this time the user earns GST tokens for walking or running outdoors. The rate of token \u201cmining\u201d depends on the level, quality, wear and other attributes of the NFT sneakers.<\/p>\n<p>Each STEPN sneaker model has a maximum energy reserve that is consumed during physical activity. The longer the user moves, the more energy is spent.<\/p>\n<p>The standard allocation is 2 units of energy, equal to 10 minutes of movement. It can be increased by upgrading the sneakers or buying another pair. Energy is restored when inactive. The lower the current energy, the fewer GST the user earns for activity.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Which blockchain does STEPN use?<\/h2>\n<p>Initially all STEPN services, including tokens and the in-app marketplace, ran only on the Solana blockchain. In April 2022 <a href=\"https:\/\/www.binance.com\/en\/blog\/ecosystem\/binance-labs-makes-strategic-investment-in-stepn-421499824684903657\" target=\"_blank\" rel=\"noreferrer noopener\">Binance invested<\/a> in the project, after which STEPN added support for BNB Chain.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"303\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/stepn-dune-1-1024x303.png\" alt=\"\u0427\u0442\u043e \u0442\u0430\u043a\u043e\u0435 STEPN \u0438 \u043a\u0430\u043a \u043e\u043d \u0440\u0430\u0431\u043e\u0442\u0430\u0435\u0442?\" class=\"wp-image-182615\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/stepn-dune-1-1024x303.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/stepn-dune-1-300x89.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/stepn-dune-1-768x227.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/stepn-dune-1-1536x454.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/stepn-dune-1.png 1695w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Number of active STEPN users on BNB Chain from April to August 2022. Data: <a href=\"https:\/\/dune.com\/queries\/704516\" target=\"_blank\" rel=\"noreferrer noopener\">Dune Analytics<\/a><\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Why does STEPN have two tokens \u2014 GMT and GST?<\/h2>\n<p>STEPN uses two assets: Green Satoshi Token (GST) and Green Metaverse Token (GMT).<\/p>\n<p>GST is earned through physical activity. It can be spent on repairing sneakers, upgrading them and buying additional pairs in the in-app marketplace. GST has an unlimited supply but is burned when spent to curb inflation.<\/p>\n<p>GMT is the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-governance-token\">governance token<\/a>. It can be bought on cryptocurrency exchanges or earned with NFT sneakers upon reaching level 30. The rate of GMT \u201cproduction\u201d via sneakers <a href=\"https:\/\/stepnofficial.medium.com\/stepn-launches-gmt-earning-plans-a4f0708b7679\" target=\"_blank\" rel=\"noreferrer noopener\">gradually declines<\/a>.<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/stepn-cmc-2-1024x456.png\" alt=\"\u0427\u0442\u043e \u0442\u0430\u043a\u043e\u0435 STEPN \u0438 \u043a\u0430\u043a \u0440\u0430\u0431\u043e\u0442\u0430\u0435\u0442 \u043f\u0440\u0438\u043b\u043e\u0436\u0435\u043d\u0438\u0435?\" class=\"wp-image-182616\" width=\"820\" height=\"365\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/stepn-cmc-2-1024x456.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/stepn-cmc-2-300x134.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/stepn-cmc-2-768x342.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/stepn-cmc-2.png 1123w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><figcaption>GMT price from April to August 2022. Data: <a href=\"https:\/\/coinmarketcap.com\/currencies\/green-metaverse-token\/\" target=\"_blank\" rel=\"noreferrer noopener\">CoinMarketCap<\/a><\/figcaption><\/figure>\n<p>Amid rapid token issuance and waning app popularity, GMT\u2019s price fell nearly fourfold from its late-April 2022 peak by the end of August. To support the price, the STEPN team <a href=\"https:\/\/www.theblock.co\/post\/157156\/stepn-to-buy-back-and-burn-gmt-using-a-portion-of-its-122-million-q2-earnings\" target=\"_blank\" rel=\"noreferrer noopener\">began conducting<\/a> regular buy-backs of GMT with subsequent burns.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">What determines earnings in STEPN?<\/h2>\n<p>At the outset, users receive GST for each minute of active movement. Earnings depend on five factors:<\/p>\n<h3 class=\"wp-block-heading\">Sneaker type<\/h3>\n<p>Each NFT has its own \u201cspeed mode\u201d, which defines the activity range at which the user earns GST:<\/p>\n<ul class=\"wp-block-list\">\n<li>Walker: movement at 1\u20136 km\/h yields 4 GST per unit of energy spent.<\/li>\n<li>Jogger: a light run at 4\u201310 km\/h yields 5 GST per unit of energy.<\/li>\n<li>Runner: a fast run at 8\u201320 km\/h yields 6 GST per unit of energy.<\/li>\n<li>Trainer: the user chooses any pace from 1\u201320 km\/h and earns from 4 GST to 6.25 GST per unit of energy.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Movement speed<\/h3>\n<p>To maximise sneaker earnings, users should move within the speed range that matches the selected type. When speed falls outside that range, earnings decrease.<\/p>\n<h3 class=\"wp-block-heading\">Quality<\/h3>\n<p>Each NFT has a quality tier: Common, Uncommon, Rare, Epic and Legendary. The higher the quality, the more expensive the sneakers and the greater their yield.<\/p>\n<h3 class=\"wp-block-heading\">Level<\/h3>\n<p>Stats and earnings can be increased by levelling up the sneakers. This requires burning a certain amount of GST. The higher the level, the more tokens are needed for the upgrade.<\/p>\n<h3 class=\"wp-block-heading\">Efficiency<\/h3>\n<p>This attribute determines how many tokens a user earns per minute. Up to level 29 only GST can be earned for activity; at level 30 GMT farming becomes available.<\/p>\n<h3 class=\"wp-block-heading\">Durability<\/h3>\n<p>As the user moves, sneakers wear out. High wear reduces earnings. If durability falls to 50%, efficiency drops to 90%; if it falls to 20%, efficiency drops to 10%. To restore durability, sneakers must be \u201crepaired\u201d by spending GST.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Special STEPN NFT sneaker collections<\/h2>\n<p>In late April 2022 STEPN, supported by Binance, released a digital footwear collection in collaboration with sports brand Asics. These sneakers can now be bought on the <a href=\"https:\/\/www.binance.com\/en\/nft\/collection\/stepn-x-asics-nft-sneakers-565720121522372609\" target=\"_blank\" rel=\"noreferrer noopener\">Binance NFT<\/a> platform.<\/p>\n<p>In summer 2022 STEPN announced a new partnership, this time with Spanish football club Atl\u00e9tico Madrid. The sale of the collection will take place on the WhaleFin platform. Access requires a special e-ticket, which will be raffled from 26 August to 2 September 2022 among those who <a href=\"https:\/\/h5.whalefin.com\/h5-activity\/stepnRegister\" target=\"_blank\" rel=\"noreferrer noopener\">register<\/a> for the event.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">How the project is developing<\/h2>\n<p>The developers plan to add several additional game modes.<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Marathons<\/strong>, in which users will compete with each other. Every participant will receive a reward according to their position on the leaderboard. Winners of weekly or monthly marathons will receive GST or GMT, plus a special NFT badge.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li><strong>Background mode<\/strong>. STEPN will allow users to earn tokens while the app is running on a mobile device in the background.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li><strong>Quests<\/strong>. Various tasks will appear in the app, completion of which grants achievements.<\/li>\n<\/ul>\n<p>STEPN adheres to carbon neutrality. The developers say they allocate part of profits to purchase \u201ccarbon credits\u201d. According to the roadmap, GMT holders will in time also be able to buy credits.<\/p>\n<p>In late May 2022 the project announced it would cease serving users in China. The decision was prompted by China\u2019s blanket ban on cryptocurrency operations.<\/p>\n<p>The STEPN team is also <a href=\"https:\/\/stepnofficial.medium.com\/realms-and-collaborations-ceec2c3f9381\" target=\"_blank\" rel=\"noreferrer noopener\">developing<\/a> separate \u201cRealms\u201d \u2014 autonomous spaces inside the app, created with partners and governed by their own rules.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Quick answers to common questions<\/h2>\n<h3 class=\"wp-block-heading\">What is STEPN?<\/h3>\n<p>STEPN is a mobile app that lets you earn cryptocurrency rewards for running and walking.<\/p>\n<h3 class=\"wp-block-heading\">Where can I read reviews of STEPN?<\/h3>\n<p>Reviews are available on the app\u2019s page in <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.bcy.fsapp\" target=\"_blank\" rel=\"noreferrer noopener\">Google Play<\/a> or the <a href=\"https:\/\/apps.apple.com\/ru\/app\/stepn\/id1598112424\" target=\"_blank\" rel=\"noreferrer noopener\">App Store<\/a>.<\/p>\n<h3 class=\"wp-block-heading\">Where can I find a STEPN earnings calculator?<\/h3>\n<p>Calculators for estimating returns can be found at <a href=\"https:\/\/stepn.guide\/\" target=\"_blank\" rel=\"noreferrer noopener\">STEPN Guide<\/a>, <a href=\"https:\/\/stepn-calculator.netlify.app\/\" target=\"_blank\" rel=\"noreferrer noopener\">Netlify<\/a> and <a href=\"https:\/\/coda.io\/@jabher\/stepn\" target=\"_blank\" rel=\"noreferrer noopener\">Coda<\/a>. There are no official calculators; enthusiasts build them using unofficial data.<\/p>\n<h3 class=\"wp-block-heading\">How do NFTs work in STEPN?<\/h3>\n<p>In STEPN, NFTs are required to use the app. Sneakers are implemented as NFTs and must be kept in the STEPN wallet \u2014 then they generate GST income. NFT sneakers level up as they are used. Upon reaching level 30, STEPN starts awarding GMT.<\/p>\n<h3 class=\"wp-block-heading\">How much do STEPN sneakers cost?<\/h3>\n<p>As of late August 2022, the minimum price of STEPN NFT sneakers is roughly $50 in SOL.<\/p>\n<h3 class=\"wp-block-heading\">How do I buy Asics sneakers for STEPN?<\/h3>\n<p>NFTs from the STEPN x Asics special collection can be purchased on <a href=\"https:\/\/www.binance.com\/en\/nft\/collection\/stepn-x-asics-nft-sneakers-565720121522372609?orderBy=favorites&#038;orderType=-1&#038;isBack=0&#038;id=565720121522372609&#038;order=favorites%40-1\" target=\"_blank\" rel=\"noreferrer noopener\">Binance NFT<\/a>.<\/p>\n<h3 class=\"wp-block-heading\">Where can I get a STEPN activation code?<\/h3>\n<p>A STEPN activation code can be generated on the <a href=\"https:\/\/stepn.com\/getCode\" target=\"_blank\" rel=\"noreferrer noopener\">official website<\/a> or obtained from an existing user.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Further reading<\/h2>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-sandbox-sand\">What is The Sandbox?<\/a><\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-gamefi\">What is GameFi?<\/a><\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-are-nfts\">What are NFTs?<\/a><\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-axie-infinity-axs\">What is Axie Infinity?<\/a><\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-yield-farming\">What is yield farming?<\/a><\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-decentralised-finance-defi\">What are decentralised finance (DeFi)?<\/a><\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">What is staking?<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>STEPN is a mobile app that pays GST and GMT tokens for walking and running. We explain how it works, why it has two tokens, and what determines the returns on physical activity.<\/p>\n","protected":false},"author":1,"featured_media":37724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"2","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[2113],"tags":[2117,2129,1155,828,1475],"class_list":["post-37723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptorium","tag-101-altcoins","tag-101-nfts-and-the-metaverse","tag-games-and-gamefi","tag-sports","tag-stepn"],"aioseo_notices":[],"amp_enabled":true,"views":"99","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=37723"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37723\/revisions"}],"predecessor-version":[{"id":37725,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37723\/revisions\/37725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/37724"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=37723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=37723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=37723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}