Проект Stepn аналитика и будущее проекта

Analytics of Stepn: Analysis of the project’s capitalization and prospects of development

How to make money by living a healthy lifestyle and doing exercise every day? Now it’s easy. Stepn, a lifestyle app, lets users earn tokens by exercising. The project’s YouTube streams publish reports of Stepn users’ earnings almost daily. Some users manage to earn as much as 150 USD per day by jogging. The project already has over 2 million registered users worldwide. All of this sounds too good to be true, so where’s the catch?

Let’s try to figure it out:

  1. What exactly is Stepn project?
  2. How to make money with Stepn? How much can you actually earn with Stepn?
  3. How do I get started?
  4. What tokens are used in Stepn?
  5. How long will Stepn last and does it have a future?

Please note: This is not simply a review of Stepn project. The analytics this article provides will help you take an informed decision regarding investment in Stepn.  The information you’ll get in the next 4-5 minutes will help you save 100 thousand roubles or even more or earn a million.

What is Stepn and how much can you actually earn with Stepn?

It’s founders claim that its purpose is to motivate people to get moving and exercise by rewarding them with crypto tokens. . However, it’s a little bit more complicated than that.

Binance Labs is the largest platform that acts as an investor and incubator that supports crypto projects. Trading in Stepn’s coins started in April 2022.  Stepn is in fact an application selling digital NFT sneakers which enables users to earn money  by exercising.

Important! Stepn has attracted the attention of a number of large investors, including the following:

  • Solana Capital;
  • Binance;
  • Folius Ventures;
  • Sequoia Capital.

As of 19.04.2022, Stepn market capitalization was more than 2.2 billion USD. In April, an article about Stepn was published by Forbes USA.

Stepn launched aggressive advertising on Telegram, YouTube and other social media.

If you want to benefit from this app, here are the five steps you need to take:

  • download Stepn app from Play Market or App Store;
  • sign up for Stepn with your email address (it should be Gmail);
  • get your activation code;
  • buy your digital sneakers;
  • enable GPS (otherwise you won’t earn anything for your movement).

There are a few other things you need to keep in mind:

  • It is not an easy task to get an activation code. STEPN  has limited the number of activation codes to 1,000 per day. You can request an activation code on Stepn’s official Telegram channel.

To buy NFT sneakers from Stepn, you need cryptocurrency such as Solana (SOL). The minimum price for a pair of digital sneakers is currently 9 SOL (300 USD).

Аналитика проекта Stepn

In April, Stepn sneakers cost over 1,000 USD. Their current decline in price is determined by the plunge of the crypto market in general and SOL token in particular. In future, Stepn founders are planning to tie the cost of NFT sneakers to USDT. Before this happens, new users have a good opportunity to buy digital sneakers at half price.

  • There are several types of digital sneakers. For more detailed information you can check the project’s official website.


The type of sneakers determines the speed requirements you need to meet to earn rewards and the level of your rewards. If you buy Runner sneakers, for example, you will be able to get 12 GSM daily (about 20 USD as of June 2022).

  • In the beginning, you are given by default 10 minutes of earning time daily. One unit of energy equals 5 minutes of move-to-earn . After that , you need to wait for 24 hours for “energy” replenishment. In order to increase your earning time, you need to buy more sneakers to increase your earning cap , at least two extra pairs.
Number of NFT sneakers Energy units Earning time
1 2 10
3 4 20
9 9 45
15 12 60
30 20 100

The rewards are paid in GST (Green Satoshi Token) and GMT (Green Metaverse Token) – the two tokens circulated within Stepn’s ecosystem:

  1. GST has an unlimited total supply. The project founders recommend to spend these funds on repairing your sneakers or upgrading them.
  2. GMT has a limited supply of six billion tokens (they accounted for 10% of the turnover as of June 2022, according to CoinMarketCap). GMT earning is only available to the players with a Level 30 sneaker. GMT can be bought and sold on Binance.

Please note: A new participant with base-level sneakers and 1 Energy per day can earn 5-25 USD in GST (depends on the token’s exchange rate and the type of your sneakers).

Prospects of Stepn project: what to expect and is it worth investing?

Stepn is a multi-faceted project. To evaluate its prospects, it’s crucial to understand its economic structure described in White Paper and LightPaper (these documents are freely accessible on the project’s official web-site). These documents mention three altcoins:

  1. SOL is used to buy digital sneakers and, according to the developers, is not directly connected to the project. Nevertheless, Solana Capital is one of the largest investors in Stepn.
  2. GST and GMT. These tokens are emitted by Stepn platform. GMT is the native governance token of STEPN and the game’s main currency. Its supply is capped at six billion tokens. According to the project’s official website, GMT tokens are distributed the following way:
30% reserved for Stepn’s treasury
16,3%  allocated for sale to private investors
14,2% for the project team,
7% sold on Binance Launchpad
2,5% for economic advisors to the project
30% distributed to users through game and governance participation

Please note: A smart-contract limits the ability of large investors (16.3%) to sell GMTs until 2023, which guarantees the token’s relative stability.

Stepn founders had the foresight to provide effective leverage constraints to ensure the stability of internal token price:

  1. Large investors cannot sell their assets until 2023. This possibility is blocked by the smart-contract. The only thing they can do is to sell their right of sale (much like a futures contract). This is a way to ensure that until 2023, a significant number of GMTs will not enter free circulation on the stock market and that their wholesale will not provoke a plunge in their price in case of a serious discrepancy between supply and demand.
  2. GMT has a burning mechanism as users have to burn GMTs to mint new sneakers. This way the supply of GMTs is kept in check. In combination with a stable demand, this would allow the developers to stabilize or increase the price of GMTs if necessary.
  3. The supply of GMS (?) is unlimited. Until the middle of May 2022, this token was minted on Solana blockchain. At that moment, the price of the coin varied within the range of 5-7 USDT. At the beginning of June, the price of GMS? was about 1.2 USDT. The 80% fall was caused by the Chinese government’s crackdown on the crypto industry and the following mass sale of the tokens by the project’s participants from China. It should be noted that after the project was banned in China, the tokens have been minted on Binance Smart Chain, which enabled the participants to earn more and significantly revitalized the project’s ecosystem. This decision is a sign that Stepn developers understand the challenges and are interested in the project’s further development and promotion.  Another positive sign is a large-scale advertising campaign that was launched in social media.

Speaking of the future projections of Stepn, it will be helpful to look at the dynamics of its capitalization:

Проект Stepn

At the end of April 2022, the token’s market cap soared to a record high, which was followed by a downward trend and inevitably affected private investors. In early June, GMT in free circulation was sold on Binance, which is reflected in the current capitalization:

проект Stepn

GMT’s market cap hit its record low on 26 May 2022. If we look at the price chart, however, we will see an important psychological support level (1 USDT) being tested by the price:

График проекта Stepn к USD

At the time of writing, the token is traded in the 0.8-1.2 USDT price range, which is an all-time low and  an important historical threshold.  The consolidation of the price  below 0.8 USDT will trigger another cash outflow from the project (a fall in the market cap) and another price minimum will be tested at 0.5-0.6 USDT.

Important! The company’s management have so far avoided using any stringent measures to stabilize the price of GMT.  Moreover, the token’s market cap dynamics is positive.

Which gives us grounds for a more optimistic forecast:

График проекта Stepn

From the perspective of technical analysis alone, the GMT/USDT chart shows a medium-term flat (a sideways trend). The price range is 1-2 USDT. In this regard, it would be useful to remember one of the main rules of technical analysis: eventually, an intensive trend always gives way to correction.

Therefore, the most likely scenario of GMT price dynamics is as follows:

  • The market cap will continue to grow together with the rise in the number of active users;
  • the price of GMT will stabilize at 1.5-2 USDT;
  • Stepn founders will continue developing the project (the platform is going to introduce a sneakers rental service, which will significantly expand the target audience and increase the level of capitalization) and overcome the psychological price level of 2 USDT;
  • the price of GMT will reach 4-4.5 USDT, which will be followed by a correction to 2.5-3.2 USDT;
  • GMT is going to move past the new price resistance level above 4-4.5 USDT and consolidate at this new historical maximum (6.5- 10 USDT).

It is possible that this scenario will realize in 2022-2023.  The viability of Stepn’s economic system and the ongoing efforts of its developers give us grounds to believe that the project will remain sustainable in the nearest future, which is why now is the perfect time for buying digital sneakers and monetizing a healthy lifestyle.

What are the possible pitfalls that may lead to the project’s decline and closure?

Почему проект Stepn может закрыться?

Even though the concept of move-to-earn seems promising and Stepn’s ecosystem is well-planned, this project, like most other NFT projects, may be considered a pyramid scheme or ponzi. New users buying digital sneakers provide profit for more experienced participants. Stepn project will keep paying rewards to its participants while the game is popular and the number of active users continues to grow.

Stepn project is not integrated into the real sector of economy: in other words, its founders do not offer the platform’s users actual discounts on sports gear, gym memberships and likewise. The users develop their personal accounts within the project’s ecosystem.

Regular exercise is undoubtedly important but it does not create a real product. As a result, goods can be monetized only in the internal, virtual environment. The investors are either participants of the game themselves or Binance traders. The latter make money by speculating on the rise and fall of the price of GMT.


Проект Stepn

What is Stepn app?

It’s an application that lets users earn money by exercising. Participants are incentivized through token rewards. The tokens are GST and GMT, which can be further exchanged for USDT and converted to fiat currency (RUR, EUR, USD).  Beginners can make 20-25 USD daily.

Who created Stepn?

Stepn was founded by Australian programmers Yawn Rong and Jerry Huang specializing in the gaming and blockchain industry. The first version of Stepn was launched in December 2021. By the middle of January 2022, the co-founders of Stepn had managed to raise over 5 million USD of investment from 16 large venture capital funds.

How many funds invest in Stepn?

According to the official data, there are about 20 large companies that provide financing to the project, including  the following:

  • Binance;
  • Solana Capital;
  • Solana Ventures;
  • Corner Ventures;
  • Solar eco fund;
  • Openspace;
  • Spark Digital Capital and others.

What are Stepn’s prospects?

The project’s development trajectory is outlined in WhitePaper. Game participants are rewarded for doing physical exercise. Judging by the steps taken by Stepn’s management, the constant influx of new customers and the overall positive dynamics of the project’s capitalization, the cost of GMT may be expected to stabilize at the level of 2-4 USDT in the next 2-3 months.

How much do Stepn sneakers cost?

The price for digital NFT sneakers starts from 9 SOL. The price depends on the type of sneakers, their level and technical attributes (efficiency, luck, comfort and resilience). These indicators influence your earnings from exercise.

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