Popular Move-to-Earn Project STEPN Hits One Year Milestone Despite GMT Price Crash

 Application for a live-to-earn lifestyle STEPN is looking to grow its community outside of the Solana blockchain as it commemorates its first year.

The app has more than 4.72 million users, $5 million in investment, and 1 million daily active users since its release. In June 2022, it unveiled a decentralized exchange called DOOAR on the Solana blockchain. It also collaborated with the Japanese sportswear brand Asics to introduce a line of non-fungible token (NFT) sneakers on the Binance Chain (BNB).

Additionally, it has launched the “APE Realm” on Ethereum to give owners of STEPN NFTs access to a Web3 “Realm” that emphasizes inclusivity and welcomes new members of the well-known Bored Ape Yacht Club NFT community into the STEPNVERSE. The majority of STEPN activities would be carried out off-chain, allaying worries regarding congestion and high-gas fees.

“Since our 2021 launch, STEPN has grown significantly. We are continue to change the move and earn area by integrating additional blockchains onto the platform, releasing new NFT collections, and adding new market-leading features.

Our staff is committed to providing the best features in a transparent manner and maintaining the safety of our platform. Yawn Rong, one of STEPN’s co-founders, said, “We are in daily communication with our community and are pleased to continue working with them to promote STEPN and introduce crypto to a wider audience.

 What is STEPN?

The STEPN app encourages users with STEPN sneaker non-fungible tokens (NFTs) to exercise outside by walking, running, and jogging to earn Green Satoshi Tokens (GST).

Subject to a few restrictions, such as the type of sneaker, the sneaker’s effectiveness, comfort, and the speed at which the user is moving, GST and STEPN (GMT) tokens are paid out for each minute that the user is moving. From Level 0 to Level 29, users earn GST; starting at Level 30, they have the option to earn either GST or STEPN (GMT).

Each user has a set amount of energy that, when used up, prevents them from receiving prizes.

STEPN is now in Public Beta for its app.

Despite both ecosystem tokens tanking, STEPN succeeds.

The GST and GMT tokens have persevered during a challenging period as the company celebrates its first anniversary. GST peaked at $7.82 on April 29, 2022, before dropping to $4.73 the following day. On May 4, 2022, it then had a brief recovery to $6.56. Following the breakdown of the TerraUSD stablecoin on May 7, 2022, the price has since been falling along with the broader cryptocurrency markets. It was down 99.6% to $0.229 at the time of publication.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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