Token Name and Symbol:

GMT (GMT)

Purpose:

GMT serves as the governance token of STEPN, a “move-to-earn” lifestyle application. Its primary purpose is to allow holders to access premium in-app features, including:

• Minting high-quality Sneakers (NFTs required for earning in the game).
• Upgrading high-quality Gems (in-game items that enhance Sneaker attributes).
• Participating in governance voting, giving holders a say in the future development and direction of the STEPN platform. Beyond these, GMT can be staked for rewards, offers access to exclusive content, and its supply is managed through a burning mechanism when used within the app.

Who is behind the project:

STEPN, and by extension GMT, was created by Find Satoshi Lab, an Australian-based fintech studio. The team gained notable recognition by winning the 2021 Solana Ignition Hackathon Gaming Track and is also a part of the DeFi Alliance Gaming cohort.

Partnership:

While specific, explicit “partnerships” with other large companies or blockchains beyond their initial launch on Solana and subsequent expansion to BNB Smart Chain and Ethereum haven’t been detailed in the provided information, the team’s participation in the DeFi Alliance Gaming cohort indicates a significant connection and collaboration within the broader decentralized finance and gaming ecosystem.

The expansion across multiple major blockchains (Solana, BNB Smart Chain, Ethereum) can also be seen as a form of strategic integration and partnership with those ecosystems.

Security & Audits:

STEPN leverages the security of the Solana blockchain’s Proof-of-History (PoH) consensus mechanism for its operations, which GMT benefits from due to its native integration. While the provided information doesn’t list specific, external security audits of the GMT token contract itself, the general practice for reputable DeFi projects is to undergo such audits. Users typically seek this information directly from the project’s official documentation or audit reports released by independent security firms.

Potential:

GMT’s potential is tied directly to the continued success and growth of the STEPN “move-to-earn” ecosystem. Its deflationary burning mechanism, utility for premium features, and governance role aim to create long-term value accrual.

The project’s vision to promote a healthier lifestyle, expand social features (“Stepn Go”), and eventually decentralize the platform suggests a roadmap for sustained relevance and user engagement.

As the user base grows and more GMT is burned for in-app activities, its scarcity and value proposition could increase.

Community:

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Website

 

RESOURCES