Stepn ($GST + $GMT)

Stepn is a Move-To-Earn lifestyle app that pays users to walk/run. It uses built-in Game-Fi and Social-Fi elements to nudge users towards a healthier lifestyle. Users earn $GST and $GMT the native tokens for walking, jogging or running. Stepn aims to be the leading Web3 Health + Fitness App available.

The app features different game modes, quests, achievements, gems and sockets, and a wide range of sneakers in the form of NFTs with varying attributes and abilities. Players can level their sneakers up in order to earn more. They can also rent their sneakers out to other players.

On top of creating an app that pays users to be active, a portion of Stepn’s profits goes to buy back Carbon Removal Credits on the blockchain to combat climate change.

In order to join Stepn a user needs to be invited. Users of the app can earn 1 Activation Code for every 10 Energy they spend (covered below), each user can only hold ONE activation code at a time until it is used.

Stepn will disable the activation codes for users to join from time to time to facilitate marketing activities and promotion, if you do not need an Activation Code to register, it means it is disabled.

HOW DOES IT WORK

In order to earn, players rent or borrow sneakers in the form of an NFT. These sneaker NFTs have a number of different attributes and statistics which I will cover in detail below.

But before that let’s go over the energy system in the game which requires users to use energy in order to earn $GST/$GMT. Each shoe has a set number of energy.

Users will start with one sneaker and 2 energy caps. Energy replenishes 25% every 6 hours until it reaches the energy cap. Users can increase their max energy cap by holding more sneakers. See the chart below for details on how energy consumption and energy cap increase work.

Sneaker Breakdown

In total there are 4 sneaker attributes, 4 different sneaker types, 5 different sneaker qualities, and 30 sneaker levels.

Each attribute affects the shoe differently and the amount of $GST + $GMT that the player earns. These tokens can then be used to upgrade the sneakers or can be cashed out for real-life profits. Each sneaker will have a combination of these and this will affect the overall amount earned, the performance, quality, rarity and functionality of the sneaker. Let's look at all the different kinds of sneakers below.

Sneaker Type

Starting with sneaker types each different sneaker is designed to suit a different exercise intensity/fitness level

Sneaker Quality

When a Sneaker is minted, the value of each Attribute will be chosen at random within the min. and max. values according to Sneaker quality. As such, even Sneakers of the same quality may have vastly different Attribute distributions.

Sneaker Level

Users will have the ability to level up their sneakers by burning $GST the token earned for being active. Each level takes a fixed time to complete and every additional level increases the amount of $GST needed to level up again.

$GMT will be required to level a Sneaker to levels 29 and 30.

After levelling up users will get 4-12 additional Attribute points to assign according to their Sneaker quality.

Sneaker Attributes

Each sneaker as mentioned will have different attributes based on the above sneaker breakdown. There are 4 different attributes each affecting the performance, earning ability, and durability of the sneaker. The 4 attributes are:

Efficiency - Efficiency plays a part in $GST earnings. Having a higher efficiency attribute results in higher $GST earnings per energy spent.

Luck - Luck will determine the frequency and quality of the Mystery Box drop (This will be covered below in game modes).

Comfort - The Comfort value has been reworked and is currently under development.

Resilience - This attribute affects the decay rate of the durability of the shoe. The higher resilience results in slower decay. Think of this like the shoes “stamina” bar. Sneakers receive a “worn-out” penalty at 2 Durability touchpoints.

At 50/100 Durability, Sneaker Efficiency drops to 90%

At 20/100 Durability, Sneaker Efficiency drops to 10%

GAME MODES

There are 2 game modes so far on the Stepn app. There is Solo Mode, Marathon Mode and background mode the last 2 are currently under development.

Solo Mode

This is the main mode in which users will earn $GST and $GMT with their sneaker NFTs. Energy is needed to earn and every 1 energy equals 5 minutes of move & earn ability as shown above. Once energy is depleted users will stop earning tokens. They can either keep tracking their movements through the app or manually exit solo mode.

The amount earned for entering Solo Mode is determined again by which NFT sneaker the user holds and all of the determining qualities above. $GST/$GMT is paid out every minute of movement depending on the 4 main factors below.

Mystery Box & Gems/Sockets

Mystery boxes are loot boxes that randomly drop while users are moving in Solo Mode. These contain gems (level 1-3) and each user will have 4 mystery box slots. Mystery Box has the same 5 quality types as Sneakers

Users can unlock gem sockets once their sneakers reach a certain level (5, 10, 15, 20). These gem sockets are used for the gems unlocked in mystery boxes in order to enhance the user's Sneaker attributes. There are four types of Gems, with each Gem representing an Attribute:

Yellow: Efficiency Blue: Luck Red: Comfort Purple: Resilience

Users can also upgrade their gems by burning $GST and combining 3 gems of the same level and type to create a higher level gem. To upgrade a gem from level 4 onward will require $GMT.

Click here for a more detailed breakdown on levelling up gems and their abilities - https://whitepaper.stepn.com/game-fi-elements/gems-and-sockets

Marathon Mode

Users of this mode will need to register 24 hours prior to the marathon. There will be weekly and monthly marathons each with different benefits and difficulties.

Weekly Marathon - These Marathons are held weekly and last for the whole week. Users can choose to participate in the 2.5km, 5km, or 7.5km Marathons, but can only take part in one Marathon at a time.

Monthly Marathon - These Marathons are held monthly and last for the whole month. Users can choose to participate in the 5km, 10km, or 15km Marathons, but can only take part in one Marathon at a time.

There is a registration fee (under development) imposed to ensure commitment from users. Once the marathon is completed the fee is returned. There are also leaderboards and rewards being implemented but are both under development.

Background Mode

Users will still be eventually able to earn while not actively using the Stepn app. They will need to hold a sneaker in the app however in order to participate.

Background mode will count the steps daily from the user's Health Data app. This will be capped at 3,000 steps daily and will not affect the user's durability or energy costs.

SHOE-MINTING

Users will be able to use 2 Sneaker NFTs that they own as a blueprint to create what is called a “shoebox”. This process is called the Show-Minting Event or SME for short. The 2 shoes that create the new shoes are referred to as Vintages (parents). Both Vintage shoes will need full durability in order to begin an SME.

Users can do a maximum of 7 SMEs per Sneaker. This function gives the user the ability to mint new Sneakers and the Sneaker's rarity will be determined by the Shoebox rarity. Click here for a more detailed breakdown of the possibilities and % of the SMEE functionality https://whitepaper.stepn.com/game-fi-elements/shoe-minting

MARKETPLACE

The marketplace is where users will go to rent/lease or sell/buy NFT Sneakers, Sneakerboxes and Gems.

ANTI-CHEATING SYSTEM

There are 3 main mechanics in order to stop cheating within the game. If these are broken it will result in the player's account being punished.

GPS Tracking

Motion sensor and health data

Machine learning to detect cheating through data simulation

Another mechanism includes the transfer of a Sneaker from one account to another resulting in a cool-down period in order to avoid manipulation of earnings.

IN-GAME WALLET

Stepn has an in-game wallet built into the app.

Stage 1 Decentralized Wallet

1. Is built into the game 2. Supports two chains' assets: SOL and BNB 3. Has a Swap (Trade) function with liquidity 4. Wallet backup function

Stage 2 Decentralized Wallet (Coming Soon)

1. Offers multi-chain asset deposit and withdraw 2. Supports NFT PFP (Profile Photo) display for ETH and SOL 3. New UI/UX

TOKENOMICS

There are 2 native tokens of the protocol $GST and $GMT. Let’s go over each below.

$GST

$GST has an unlimited supply and is earned when users use the app. To provide liquidity at the start 60,000,000 were created.

20,000,000 GST (SPL) and 20,000,000 GST (BEP20) were minted and added to Orca, Raydium and Pancakeswap's liquidity pool

10,000,000 GST (SPL) and 10,000,000 GST (BEP20) were created and locked in Binance to serve the purpose of a cross-chain bridge between Solana and BNBChain.

GST Burning Mechanics (Destroying)

$GST is burned by:

1. Shoe-Minting 2. Repair 3. Leveling up Sneakers 4. Gems upgrade 5. Unlocking Socket

$GMT

The GMT is minted at the Token Generation Event (TGE), with a total of 6,000,000,000 minted.

30% of total GMT will be distributed to users through move&earn and Governance participation. To ensure the longevity of the STEPN project, the total release of GMT will halve every three years.

See below for initial distribution and vesting schedule.

$GMT Earning Mechanics

Level requirement - $GMT earning is only available to Sneakers that reach to Level 30.

Rule of Three Requirement - It is a mandatory requirement to have AT LEAST three Energy in order to start earning $GMT.

Halving Mechanics - Each day, a set number of $GMT will be unlocked to earn. The daily release of $GMT follows an exponential decay pattern, on the first day of the 3rd year, the daily $GMT unlocked is exactly halved compared to the 1st day of $GMT being available to earn.

Einstein Mechanics - The system constantly adds randomness to Users’ $GMT earning, which makes earning unpredictable. To avoid any extrapolation on earnings, the settlement of $GMT will be done every several mins. Stepn’s parent company, Find Satoshi Labs, was co-founded in 2021 by an Australian duo, Jerry Huang and Yawn Rong.

Bitcoin Mechanic - The $GMT earning per person is pro-rata based just like the difficulty bomb in Bitcoin and Ethereum design but settles instantly. The more users earning $GMT at a given time, the less $GMT earning will be available per person. Vice Versa.

Comfort Mechanics - The more Comfort, the higher the earnings. $GMT earning formula will be released once the earning is enabled in the app.

GMT Burning Mechanics (Destroying)

NFT

1. Burn GMT to reach level 5/10/20/29/30 2. Burn GMT to upgrade Level 4+ Gems 3. Burn GMT to mint Rare, Epic & Legendary Sneakers 4. Burn GMT to re-distribute Attribute points

Enhance In-app Mechanics

1. Burn GMT to permanently increase GST Daily Earning Cap 2. Burn GMT to permanently improve the success rate of ALL Gem upgrade 3. Burn GMT to permanently improve the chance to receive a higher quality Sneaker from opening Shoebox 4. Burn GMT to permanently improve the chance to receive TWO Sneaker from Shoe-Minting

ROADMAP

TEAM

Find Satoshi Labs is Stepn’s parent company. It was co-founded in 2021 by an Australian duo, Jerry Huang and Yawn Rong.

Linkedin for Stepn - https://www.linkedin.com/company/stepn-by-find-satoshi-lab/