1/25
Great #AMA done on @Stepnofficial #STEPN by @HuobiGlobal , co-hosted by @CryptoCoinCoach and speaker @shitirastogi from StepN.
Topics:
* StepN in short
* Mission
* NFTs
* #GST #GMT
* Price stability
* Security
* SocialFi
* #BSC
* Luck
* Success stories
* Partnerships 🧵👇
Great #AMA done on @Stepnofficial #STEPN by @HuobiGlobal , co-hosted by @CryptoCoinCoach and speaker @shitirastogi from StepN.
Topics:
* StepN in short
* Mission
* NFTs
* #GST #GMT
* Price stability
* Security
* SocialFi
* #BSC
* Luck
* Success stories
* Partnerships 🧵👇
2/25
#StepN in short:
* #Move2Earn health and fitness application. Users equip sneakers and then move outdoors to earn token & #NFT rewards.
* Built in wallet & swap marketplace + other features to facilitate easy onboarding of non crypto users.
#StepN in short:
* #Move2Earn health and fitness application. Users equip sneakers and then move outdoors to earn token & #NFT rewards.
* Built in wallet & swap marketplace + other features to facilitate easy onboarding of non crypto users.
3/25
* #STEPN wants to build a lifestyle app. Not just gamification.
* Mission in 3 steps:
1. Fitness application for people to move outdoor
2. Bridge between #web2 and #web3 (simple mechanic & UI) where people own their own digital assets through NFTs
3. Carbon neutrality
* #STEPN wants to build a lifestyle app. Not just gamification.
* Mission in 3 steps:
1. Fitness application for people to move outdoor
2. Bridge between #web2 and #web3 (simple mechanic & UI) where people own their own digital assets through NFTs
3. Carbon neutrality
4/25
* Important to notice is that people in #StepN run in real life, outdoors and not in a metaverse, AR or VR.
* Every minute 30,000 or more users are using the app and running globally at the same time.
* Important to notice is that people in #StepN run in real life, outdoors and not in a metaverse, AR or VR.
* Every minute 30,000 or more users are using the app and running globally at the same time.
5/25
* #NFTs are a means to an end, to a goal. Make people fit through Move2Earn.
- It's a critical part of the story but not the only part. NFTs work together with the $GST & $GMT token, through earning & burning.
- The app is designed to keep people on the edge.
* #NFTs are a means to an end, to a goal. Make people fit through Move2Earn.
- It's a critical part of the story but not the only part. NFTs work together with the $GST & $GMT token, through earning & burning.
- The app is designed to keep people on the edge.
6/25
* This translates into the new milestone of more than 400,000 daily active users despite the activation codes
* The amount of users is doubling almost every several weeks
* Anything you earn within StepN, you own the asset. No need to go to the dark web to sell it off there
* This translates into the new milestone of more than 400,000 daily active users despite the activation codes
* The amount of users is doubling almost every several weeks
* Anything you earn within StepN, you own the asset. No need to go to the dark web to sell it off there
7/25
* There's currently no way of earning without purchasing a sneaker NFT. Rental features are planned for later on this year.
- #StepN wants to ensure quality to all people that sign up such that they get properly rewarded.
* There's currently no way of earning without purchasing a sneaker NFT. Rental features are planned for later on this year.
- #StepN wants to ensure quality to all people that sign up such that they get properly rewarded.
8/25
- Staying true to this formula has translated in over 1,000,000 registered users and over 400,000 Daily Active Users plus a daily NFT trading volume which exceeds $50M USD on 30th of March.
- Also #GST & #GMT token trading volumes exceeded both #Bitcoin & #Ethereum volumes.
- Staying true to this formula has translated in over 1,000,000 registered users and over 400,000 Daily Active Users plus a daily NFT trading volume which exceeds $50M USD on 30th of March.
- Also #GST & #GMT token trading volumes exceeded both #Bitcoin & #Ethereum volumes.
9/25
* #StepN tokenomics:
- Dual tokens - #GST (Green Satoshi Token), #GMT (Green Metaverse Token)
- #GST is a utility token with an unlimited supply. #GMT is a governance token with a limited supply
- The price of $GST tokens & the NFTs are entangled due to the in game mechanics
* #StepN tokenomics:
- Dual tokens - #GST (Green Satoshi Token), #GMT (Green Metaverse Token)
- #GST is a utility token with an unlimited supply. #GMT is a governance token with a limited supply
- The price of $GST tokens & the NFTs are entangled due to the in game mechanics
10/25
- This creates arbitrage opportunities for our community.
- A demand for the utility NFTs will increase the $GST price and vise versa.
- The app was designed in such a way that both non-crypto and crypto users should easily be able to use it.
- This creates arbitrage opportunities for our community.
- A demand for the utility NFTs will increase the $GST price and vise versa.
- The app was designed in such a way that both non-crypto and crypto users should easily be able to use it.
11/25
- #StepN learned from pioneers in the space (e.g. #AxieInfinity ) and learned first of all that the $GMT token shouldn't be solely limited to governance.
- Currently 10 released #GMT use cases.
- 4 related to NFTs, 4 related to in-app mechanics and 2 to schadenfreude pools.
- #StepN learned from pioneers in the space (e.g. #AxieInfinity ) and learned first of all that the $GMT token shouldn't be solely limited to governance.
- Currently 10 released #GMT use cases.
- 4 related to NFTs, 4 related to in-app mechanics and 2 to schadenfreude pools.
12/25
* Price stability:
- $26M USD of Q1 earnings have all been devoted to buying back & burning #GMT (black hole wallet address)
- Currently 10 use cases of #GMT have been announced. Some hidden use cases such as #11 will be shared on official social media channels, very soon.
* Price stability:
- $26M USD of Q1 earnings have all been devoted to buying back & burning #GMT (black hole wallet address)
- Currently 10 use cases of #GMT have been announced. Some hidden use cases such as #11 will be shared on official social media channels, very soon.
13/25
- Eventually #StepN will announce their $GMT staking rules
- More features will be announced to help and monitor the $GMT supply
- A previous AMA with @yawn_rong, made it clear that @Stepnofficial wants to monitor their economy like a country. Active inflation & deflation
- Eventually #StepN will announce their $GMT staking rules
- More features will be announced to help and monitor the $GMT supply
- A previous AMA with @yawn_rong, made it clear that @Stepnofficial wants to monitor their economy like a country. Active inflation & deflation
14/25
* Security:
- Taken very seriously
- #StepN prioritises the privacy guidelines from Google & Apple regarding user data
- Storage of encrypted user data on a decentralised protocol is taken into account
- Measures taken regarding security for both on chain and off chain data
* Security:
- Taken very seriously
- #StepN prioritises the privacy guidelines from Google & Apple regarding user data
- Storage of encrypted user data on a decentralised protocol is taken into account
- Measures taken regarding security for both on chain and off chain data
15/25
* Other #NFT use cases:
- #StepN doesn't rule out other use cases for their NFTs such as lending, borrowing, renting or others as the project grows.
- However no such use cases are planned for now.
* Other #NFT use cases:
- #StepN doesn't rule out other use cases for their NFTs such as lending, borrowing, renting or others as the project grows.
- However no such use cases are planned for now.
16/25
* #SocialFi will be a very big feature of what #StepN will do. People will be able to share their fitness journey, routes walked, look into data shared by others etc.
- However, it's been pushed back a bit due to the developers coping with the current massive user growth.
* #SocialFi will be a very big feature of what #StepN will do. People will be able to share their fitness journey, routes walked, look into data shared by others etc.
- However, it's been pushed back a bit due to the developers coping with the current massive user growth.
17/25
- This requires them to focus on other services such as cutting edge ML features to chalk out things like anti-cheating mechanisms.
- A new AI model has been built out to track abuse of the app. They'll release more insights about this soon.
- This requires them to focus on other services such as cutting edge ML features to chalk out things like anti-cheating mechanisms.
- A new AI model has been built out to track abuse of the app. They'll release more insights about this soon.
18/25
* The #StepN team isn't looking to support a bridge between blockchains themselves. So currently you need to buy the NFT on the #Solana or #BSC chain and bring it into the app.
- NFTs on #BSC cannot be moved to #Solana and vice versa.
* The #StepN team isn't looking to support a bridge between blockchains themselves. So currently you need to buy the NFT on the #Solana or #BSC chain and bring it into the app.
- NFTs on #BSC cannot be moved to #Solana and vice versa.
19/25
* Luck:
- Plays a major role in life and in a lot of games. Mystery and excitement are brought on by elements like luck.
- In #StepN this translates into shoe minting, mystery boxes, gem upgrades and more. Game theory and game design is very consciously run be the team.
* Luck:
- Plays a major role in life and in a lot of games. Mystery and excitement are brought on by elements like luck.
- In #StepN this translates into shoe minting, mystery boxes, gem upgrades and more. Game theory and game design is very consciously run be the team.
20/25
- Keeps people on edge. Everyone can go outdoor and do their runs. But why people don't do it?
- The whole genesis of the app is to find ways to incentivise people to be fit while adding value to the ecosystem and strive for carbon neutrality.Luck plays a major role in this
- Keeps people on edge. Everyone can go outdoor and do their runs. But why people don't do it?
- The whole genesis of the app is to find ways to incentivise people to be fit while adding value to the ecosystem and strive for carbon neutrality.Luck plays a major role in this
21/25
* Succes stories:
- A guy who found his girlfriend through #StepN. They were living next door but didn't really meet until they started going outdoors
- Testimony from a french guy on Reddit on his journey on improving his mental health
* Succes stories:
- A guy who found his girlfriend through #StepN. They were living next door but didn't really meet until they started going outdoors
- Testimony from a french guy on Reddit on his journey on improving his mental health
22/25
- #StepN is looking to partner up with running clubs, gyms etc.
- Push people to meet outdoor.
- One going on in London, Australia, Japan, Taipei.
- They're looking to partner with top tier brands. Recently #ASICS was announced and more are on the horizon.
- #StepN is looking to partner up with running clubs, gyms etc.
- Push people to meet outdoor.
- One going on in London, Australia, Japan, Taipei.
- They're looking to partner with top tier brands. Recently #ASICS was announced and more are on the horizon.
23/25
* Interview was done on behalf of #STEPN by Shiti Rastogi (@shitirastogi): Chief revenue officer
- Background as an electronic engineer with MBA
- Fourteen years of experience managing technology and business
- The last experience was founding an AI based fitness business
* Interview was done on behalf of #STEPN by Shiti Rastogi (@shitirastogi): Chief revenue officer
- Background as an electronic engineer with MBA
- Fourteen years of experience managing technology and business
- The last experience was founding an AI based fitness business
24/25
* @shitirastogi role in #StepN involves 3 key verticals:
- Content & PR (engaging with the community)
- Marketing
- Partnerships (brands & ecosystems)
She sounded like an extremely passionate and talented person. This team keeps growing and building.
* @shitirastogi role in #StepN involves 3 key verticals:
- Content & PR (engaging with the community)
- Marketing
- Partnerships (brands & ecosystems)
She sounded like an extremely passionate and talented person. This team keeps growing and building.
25/25
Thanks to @HuobiGlobal, @CryptoCoinCoach and @shitirastogi for todays #AMA. Great updates and news.
If you like these summaries help me out with a retweet and make sure to follow me :).
A link to the AMA: twitter.com/i/spaces/1nAJE…
Thanks to @HuobiGlobal, @CryptoCoinCoach and @shitirastogi for todays #AMA. Great updates and news.
If you like these summaries help me out with a retweet and make sure to follow me :).
A link to the AMA: twitter.com/i/spaces/1nAJE…
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