The governance token and fictitious utility token for STEPN GMT & GST. Its supply is constrained and deflationary, unlike GST. The utility token is called Green Satoshi Token (GST). Users generate GST through their regular movements, therefore there is an infinite supply of it. Numerous burn mechanisms are built into STEPN in order to guarantee the stability of GST. These entail repairing, unlocking gem sockets, and upgrading your in-game possessions like shoes and jewels. New shoes are also minted using GST.
STEPN GMT & GST
The STEPN’s governance token is called Green Metaverse Token (GMT). The overall GMT supply is fixed at 6 billion, of which 30% will be divided via governance and M2E participation. GMT is intended to be deflationary (like Bitcoin), as contrast to GST, and its total supply will half every three years.
The ability to earn STEPN GMT by playing the game has not yet been activated. An excerpt on the various stages of GMT earning can be seen below from the whitepaper.
How does the $GST system work?
In a sense, GST serves as our utility token. That implies that using STEPN GMT & GST is required in order to engage with the STEPN ecosystem. The simplest straightforward comparison is to the currency of a nation.
Almost all of the app’s features need GST:
- Sneaker Restoration
- Optimising Sneakers
- upgrading sneakers
- Upgraded gems
- Opening Mystery Boxes by Unlocking Sockets
What occurs when GST is applied to the aforementioned tasks? The remainder of the GST is incinerated following the platform fee. As a result, it is effectively taken out of circulation, which helps to limit the overall supply of GST.
Several significant GST points:
earned by relocating (by equipping an NFT Sneaker)
The amount of GST earned is influenced by the Efficiency Attribute Unlimited Supply (regulated by burning)
Hence, as you can see, GST is the foundation of our entire ecosystem and is what all users will be earning from their moves up until a later date, when GMT income will be made available.
How does $GMT work?
The governance token and fictitious utility token for STEPN is GMT. Its supply is constrained and deflationary, similar to Bitcoin, unlike GST.
Use cases for GMT include:
- Reaching Levels 5–10–20–29–30
- Upgrade Gems up to Level 4
- Attribute points can be distributed (Will be released once GMT Earning is enabled)
Burning GMT can also improve your chances indefinitely of:
- The GST Daily Earning Cap being raised
- Increasing ALL Gem upgrade’s rate of success
- Increasing the likelihood that a higher-quality sneaker will be revealed when you open a shoebox
- Increasing the likelihood of receiving 2 sneakers through Shoe-Minting
There are several applications for GMT. Burning GST to improve your NFTs is one of these.
Users will be able to begin earning GMT through moving at Stage 4 if they have a Level 30 shoe and three or more energy. The GMT earned is determined randomly and is based on the Comfort stat.
Level up to 5/10/20/29/30
Gems Level 4+ Upgrade
To mint sneakers of every kind
moving attribute points around
GMT can be burned to improve the game mechanics associated with your account in addition to upgrading your NFTs. Among them is burning STEPN GMT to:
Increase the GST Daily Earning Cap indefinitely
Improve the longevity of ALL Gem upgrading success
Rise the likelihood that next time you open a shoebox, you’ll get a better pair of shoes
Increase your likelihood of receiving TWO sneakers through Shoe-Minting over the long term
Schadenfreude Pools, where users can pay GMT to subscribe to such pools and enjoy a return of the GST taken from players’ unpleasant events like unpacking lower-quality sneakers from higher-quality shoeboxes or unsuccessfully upgrading jewels, are another incredibly intriguing way to use GMT.
Cost and impact of GMT and GS values
A simple explanation is that the value of a token would increase if there was more purchasing pressure than selling pressure. Let’s examine the reasons why people might buy and sell these tokens.
Adding new players to the game. After buying their first pair of sneakers, they might decide to update them right away with GST or GMT.
The player might decide to expand their shoe collection. In addition to purchasing the shoes from the market, this typically entails significant minting, which calls for tokens.
predicting future increases in token values and selling when they occur
These buyers can be non-players looking to profit by exchanging tokens.
These customers might be day traders or fervent supporters of the enterprise.
Hype does contribute in some ways. The expectation that token prices will increase would result from the growing popularity of STEPN.
Cashing out by users. Typically occurs once users have sufficiently improved their STEPN assets.
Profit-taking. All token holders would have different points when they would desire to take profits because everyone is in this to earn money. This may come from users, speculators, or even individual investors.
Fixed Daily Earnings: Every day, a set number of GMT may be earned by ALL users.
On the first day of the third year, the daily GMT unlocked is exactly halved compared to when GMT earning first began. The daily release of STEPN GMT follows an exponential decay pattern (I.e. If a cap of 100,000 GMT is able to be earned daily on Day 1, on the 1st day of the 3rd year, this will drop to 50,000 GMT)
Randomization: To prevent exploitation, GMT profits are distributed at random from a range. GMT revenues will be settled every few minutes as opposed to GST, which is mined every minute.
Prorated Earnings: The amount of GMT available per person will decrease as more users earn GMT at a particular moment. the opposite.
Similar to how Efficiency is for GST, GMT earnings are dependent on the Comfort attribute.
Once GMT earning approaches, more information on the finalised mechanics will be made available.