GMT is the governance token behind STEPN, a pioneering "move-to-earn" decentralized application (dApp) that blends fitness, blockchain technology, and gamification into a Web3 lifestyle experience. Launched on March 9, 2022, with an initial price of $0.01 and a maximum supply capped at 6 billion tokens, GMT plays a central role in powering one of the most innovative projects at the intersection of health, sustainability, and digital ownership.
STEPN operates on a dual-token model: Green Satoshi Token (GST) as the in-game utility token and Green Metaverse Token (GMT) as the governance and utility-driven asset. The platform enables users to earn cryptocurrency rewards simply by walking, jogging, or running outdoors — turning everyday physical activity into financial incentive through NFT-powered sneakers.
How Does STEPN Work?
At its core, STEPN is built on the Solana blockchain and integrates Game-Fi and Social-Fi elements to encourage healthier lifestyles while onboarding users into the world of Web3. Users begin by acquiring a pair of NFT sneakers — each with unique attributes like type (walking, jogging, running), quality (common to legendary), efficiency, durability, and gem slots.
Once equipped with an NFT sneaker, users can start moving outdoors to earn GST tokens. The more you move (within certain speed limits), the more GST you generate. However, movement must occur in real-world outdoor environments, and STEPN employs advanced anti-cheat mechanisms such as GPS verification, device motion tracking, and behavioral analytics to prevent fraudulent activity.
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Dual-Token Economy: GST and GMT
Green Satoshi Token (GST)
GST is the primary in-game currency earned through physical activity. It’s used for:
- Repairing NFT sneakers (which degrade over time)
- Upgrading sneaker attributes
- Minting new sneakers
- Participating in seasonal events
GST has an inflationary supply model, meaning new tokens are minted based on user activity, but burning mechanisms help balance circulation.
Green Metaverse Token (GMT)
GMT serves as the long-term value-capturing and governance token of the STEPN ecosystem. With a fixed supply of 6 billion, GMT is deflationary in nature due to mandatory burning during key platform interactions.
Key use cases include:
- Governance: Users who stake GMT gain voting rights proportional to their lock-up duration.
- Staking Rewards: Stakers influence how staking rewards are distributed across the network.
- Platform Access Fees: GMT must be burned to perform high-value actions like upgrading sneakers or minting new ones — creating constant demand and reducing circulating supply.
This dual-token design ensures sustainable economic balance: GST fuels daily gameplay, while GMT anchors long-term engagement and ecosystem growth.
Core Features of the STEPN App
Mobile App Availability
The STEPN app is available on both iOS App Store and Google Play (in supported regions), making it accessible to mainstream users without requiring deep crypto knowledge.
NFT Sneakers & Customization
Each NFT sneaker is a digital asset with varying rarities and stats. Users can enhance their sneakers by:
- Adding or upgrading gems (which boost earning potential)
- Increasing efficiency or comfort levels
- Reducing energy consumption per session
These upgrades require burning GMT and spending GST, reinforcing token utility.
In-App Wallet & Exchange
STEPN includes a built-in non-custodial wallet supporting multiple cryptocurrencies. Users can:
- Store earned tokens securely
- Swap GST or other cryptos directly within the app
- Transfer funds to external wallets
This seamless integration lowers barriers for non-crypto natives.
NFT Marketplace
An integrated marketplace allows users to buy, sell, or trade NFT sneakers using cryptocurrency. Pricing is determined by market demand, rarity, and performance metrics.
Rental System
One of STEPN’s most inclusive features is its rental system. New users can rent NFT sneakers from existing owners instead of purchasing them outright. Earnings are then split between renter and owner — democratizing access to the move-to-earn economy.
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Token Distribution and Funding
STEPN raised approximately $5 million in early funding, with 16.3% of the total GMT supply allocated to private investors at $0.005 per token. The full token distribution is as follows:
- Ecosystem / Treasury: 1.8 billion (30%)
- Move-to-Earn Incentives: 1.8 billion (30%)
- Private Sale: 978 million (16.3%)
- Team: 852 million (14.2%)
- Binance Launchpad Sale: 420 million (7%)
- Advisors: 150 million (2.5%)
The team and advisor allocations are subject to vesting schedules to ensure long-term alignment with community interests.
The Vision: Web3 Wellness and Climate Action
STEPN isn’t just about earning crypto — it aims to drive real-world impact:
- Promoting healthier lifestyles by incentivizing physical activity
- Reducing carbon emissions by encouraging walking over driving
- Educating millions about blockchain through intuitive, fun experiences
By merging social interaction (Social-Fi), gaming incentives (Game-Fi), and decentralized finance (DeFi), STEPN creates a self-sustaining ecosystem where users generate content, build communities, and participate in governance.
Frequently Asked Questions (FAQ)
Q: Is STEPN still active in 2025?
A: Yes, STEPN continues to operate with regular updates, new features, and seasonal campaigns aimed at boosting user engagement and sustainability.
Q: Can I earn money with STEPN without buying NFTs?
A: Yes, thanks to the rental system, you can rent sneakers and share earnings with the owner — allowing zero-upfront-cost participation.
Q: Where can I buy GMT tokens?
A: GMT is listed on major exchanges including OKX, Bybit, and MEXC. Always conduct due diligence before investing.
Q: How does STEPN prevent cheating?
A: Through GPS tracking, motion sensors, behavior analysis, and movement pattern validation to ensure only legitimate outdoor activity generates rewards.
Q: Is GMT a good long-term investment?
A: GMT’s deflationary mechanics — including mandatory burning for upgrades — may support long-term value appreciation if platform usage grows sustainably.
Q: What blockchains does STEPN support?
A: Initially launched on Solana, STEPN later expanded to BNB Chain to improve accessibility and reduce transaction costs.
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Final Thoughts
GMT stands as a key player in the emerging "phygital" economy — where physical activity meets digital ownership. As part of the STEPN ecosystem, it empowers users to take control of their health, finances, and environmental impact through blockchain innovation.
While the move-to-earn trend has evolved since its 2022 peak, STEPN remains one of the few projects to successfully merge real-world utility with sustainable tokenomics. Whether you're a fitness enthusiast, crypto investor, or Web3 explorer, GMT offers a compelling gateway into a healthier, more rewarding digital future.
Note: STEPN was ranked 4th out of over 500 projects at the Solana Ignition Hackathon 2021 — marking its early promise as a groundbreaking Web3 lifestyle app.