STEPN Launches GMT Earning Plans

At STEPN our biggest priority is our community and we are taking active measures to better align our development with users’ interests.

In our Twitter Space today we shared how we think about the long-term plan of STEPN.

We strongly believe that the community should benefit from their contribution to the project; the loyal users should be rewarded as they stay with the project for the long term. We want to continue offering our users new types of gameplay they could enjoy and other features that could better connect them.

To achieve these goals, we believe a pivotal step to take is: opening up the GMT earning.

By enabling the GMT earning, we can better give back to our community. There will also be a dynamic balance between the GST earning side and GMT earning side, where either side doing well can provide benefit to the other side. It will create a virtuous cycle because of:

  • All kinds of external possibilities of STEPN as a Superapp being reflected by GMT
  • Our continuous effort to drive more utilities to GMT
  • The additional demand for other in-game assets

Rules for GMT Earning

To begin, you will need a Level 30 Sneaker. Next, toggle from GST to GMT earning mode within the STEPN app, which can be done on any realm. GMT earnings are cumulatively calculated across all realms, so no realm has an inherent advantage. Previously, many STEPN users have asked if there will be a cooldown period when switching between GST and GMT earning mode, we are pleased to declare that no cooldown will be implemented at this moment. The amount of GMT to be earned will not decrease daily. Instead, GMT emissions will be halved exactly 2 years after the GMT earning commencement date. Similar to the working concept of hash rates in a blockchain network, the GMT earning rate dynamically changes every 1 minute based on the number of users earning GMT at that moment.

The GMT earning Sneakers

There will be Four pools: Classic Pool (designed for all existing sneakers), Rainbow Pool, Rainbow Plus Pool, and Schadenfreude Pool (we’ll be launching new series of Rainbow Sneakers)

  1. Generations

a) Generation 0: Classic (When a Sneaker reaches Lvl 30, the Sneaker can be used for GMT mining. Refer to our GMT Earning Mechanics here.)

b) Generation 1: Rainbow

c) Generation 2: Rainbow Plus

d) Generation 3: Rainbow Infinite

On the GMT earning commencement date (27th September 2022), the Rainbow Sneaker upgrade mechanism from enhancements will NOT yet be enabled. This function will be introduced in the future.

2. All Rainbow Series Sneakers are Trainers (1–20km/hr)

3. There will be no Efficiency, Luck, Comfort or Resilience. All Rainbow Series Sneakers will have 100% HP and the HP will not be restorable; once the HP of the Rainbow Series Sneakers is depleted, the sneaker will no longer be usable. HP diminishing rate is proportional to Energy consumption, ALL Rainbow Series Sneakers share an equal HP diminishing rate.

4. There will be 4 slots for Rainbow Gems on each Rainbow Series Sneaker. The Gems can be burned if users want to take them off.

5. The Rainbow Sneaker does not have Minting Function, Level up, nor Repair in our effort to make the game simpler instead of more complex.

The Rainbow Gems

  1. Upgrading 3 Gems of the same category will give the user a chance to mint a Rainbow Gem of the same level
  2. The Rainbow Gems can be applied directly onto Rainbow Series Sneakers to enhance the GMT earning efficacy
  3. Users can remove the Rainbow Gems from the Rainbow Series Sneakers by burning them
  4. The Rainbow Gems cannot be used for further upgrade
  5. Rainbow Gems cannot be traded on the marketplace
  6. The timeline for releasing each level of Rainbow Gems will be announced at later dates. Doing Gems upgrade before the corresponding announcement will not get Rainbow Gems of that level.

How to get Rainbow Series Sneakers

  1. 5-in-1 Sneaker Enhancement can give you a chance of getting a Rainbow Series Sneaker.
  2. Enhancing 5 Common Sneakers into 1 used to have a chance to get a double enhancement to a Rare Sneaker; now there will be also a chance to get a Rainbow Sneaker
  3. Enhancing 5 Uncommon Sneakers into 1 used to have a chance to get a double enhancement to an epic Sneaker; now there will be also a chance to get a Rainbow Plus Sneaker
  4. How to get a Rainbow Infinite Sneaker is TBD (we will announce when Rainbow Infinite Sneaker releases)
  5. Rainbow, Rainbow Plus and Rainbow Infinite Sneakers cannot be used for 5-in-1 Sneaker Enhancement
  6. The cap for Mint>=2 is now removed

GMT Earning Pools

  1. Classic Pool: All Classic Sneakers are eligible for 20% of the GMT earning that day. The higher a Sneaker’s Comfort is, the higher its GMT earning efficacy.
  2. Rainbow Pool: Will be earned by the Rainbow sneakers. Eligible for 30% of the GMT earning that day.
  3. Rainbow Plus Pool: Will be earned by the Rainbow Plus sneakers. Eligible for 50% of the GMT earning that day.
  4. Schadenfreude Pool: Will be earned by the Rainbow Infinite sneakers. Rules to be declared at a later date.

Timeline (ranked in order)

The reason we rank them by Generations is that we are rolling one pool after another. When we first launch GMT earning, the Classic Pool will be launched first, followed by the Rainbow Pool, and then followed by the Rainbow Plus Pool. The GMT distribution across these three pools is: Classic: 20% ; Rainbow: 30%; Rainbow Plus: 50%

The sequence of the launch in order will be as below :

  1. Classic Pool Launch (20% of the daily GMT)
  2. Common Sneakers 5-in-1 into Rainbow + Rainbow Pool Launch (30% of the daily GMT)
  3. Uncommon Sneakers 5-in-1 into Rainbow Plus + Rainbow Plus Pool Launch (50% of the daily GMT)
  4. Rainbow Infinite (rules to be declared) + Schadenfreude Pool Launch (rules to be declared)
  5. Lower level Rainbow Gems minting
  6. Higher level Rainbow Gems minting
  7. The timeline of releasing Rainbow, Rainbow Plus, and Rainbow Infinite, as well as different levels of Rainbow Gems, will be announced accordingly at later dates. Doing 5-in-1 Enhancement or Gems upgrade before the corresponding announcement will NOT get the corresponding Rainbow Series Sneakers and Rainbow Gems of that level.

We will have a few additional use cases of GMT in the upcoming app update. Therefore the GMT earning will start its countdown after these updates are live.

GMT earning is a small step on our roadmap, but hopefully it can be a giant leap for the STEPN community.

We hope you are as excited as we are for the coming changes!

-With you, for you, by you

Team STEPN

Addendum: 18th August 2022 — We’ve reviewed community feedback and decided to make rainbow gems tradable (As shared on the STEPN Monthly Townhall dated 17th August 2022)

Addendum: 27th September 2022 — After rigorous testing we have revised the ‘Rules for GMT Earning’ to mitigate bugs and improve user experience. Additionally, Rainbow sneakers (Generation 1 to 3) will be released at a later date. (As shared in the announcement)

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STEPN is a Web3 lifestyle app with Social and Game elements.