The thread below is meant to dig deeper into the #STEPN shoe minting activity.
It’s a mixture of information from the white paper (whitepaper.stepn.com) and community generated data to explain the process and the most profitable way to do so 🧵👇
2/ What?
From the #StepN white paper: “Shoe-Minting Event (SME) is when users use 2 Sneakers, they own, as a blueprint to “breed”, producing a Shoebox in the process.”
Both sneakers need to be at least lvl 5 and unused in any previous mint in the last 48 hours.
3/ Why?
Sneakers form the basis of the #STEPN app. It’s a required NFT for anyone wanting to enter the game and looking to earn #GST
There’re several ways someone can earn through #STEPN. Among those options:
#1 Sell off all earned #GST
#2 Use the #GST to lvl up sneakers & mint
4/ What’s more profitable?
It depends on the price of #GST, the current dynamic minting cost and the floor price of the sneakers. @Vanxhh has created a very useful website (stepn.vanxh.dev) to check the current minting profitability.
5/ I’ve previously done a thread on dynamic minting (
)
It’s important to take into account the chances of getting twin shoeboxes as well as the chances of getting lower/higher quality shoeboxes/sneakers which could decrease or boost your revenue stream.
6/ Sneaker offspring quality chances have been nicely visualised by @Krit_STEPN (
A cyclic minting process 1. Start with bringing two sneakers to lvl 5 2. Mint with both sneakers 3. Open the minted shoebox & lvl the new shoe to lvl 5 4. Wait 48h (minting cooldown) 5. Mint with both sneakers again 6. Open the minted shoebox & lvl the new shoe to lvl 5
8/ 7. Sell your vintage sneakers you’ve minted with twice (it’ll get more expensive for next mints) 8. Restart the loop but this time with your two new sneakers @GUMYSTEPN recently did a tweet on this topic as well (
9/ Should I mint with any sneakers?
No. The sneaker type depends on the vintage sneakers
e.g. Two walkers have an 85% chance of producing a new walker BUT also a 6% chance on a jogger or runner and 3% chance for a trainer
Full details are in the white paper, under "Shoe-Minting"
10/ The image below is meant as a visual aid.
Keep in mind that trainers are the rarest, most valuable and most wanted sneakers.
Walkers & Joggers are more desired than runners and could yield more profit when selling.
Try to include this knowledge in your minting strategy.
11/ What else?
Gem slots!
Not only the sneaker type but also the sneaker socket types are determined by the parents.
e.g. If both parents have a luck socket in the top left, there’s an 85% chance for the new shoe to have a luck socket in that position as well (see image below).
12/
The image below visualises the chances of certain socket types.
Note: A combination of ‘Efficiency’ and ‘Comfort’ sockets on the same sneaker is to be avoided. Players specialise in either #GST earnings (efficiency) or #GMT earnings (comfort) but not both.
13/ Conclusion:
After reading the thread, take a moment to recap and summarise all information. Try to apply above concepts on your current inventory to improve and increase your #STEPN revenue stream.
If you liked this thread, please Like♥️ and Share🔁 the FIRST post.
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Even though on chain transactions on #BSC show the daily #GMT burns, the total #GMT supply, after burns, might in fact not decrease.
Please allow me to explain 👇
2/ Binance Bridge
@binance has their own bridge to bring tokens from other chains to #BSC
They do so by holding collateral in a 1:1 ratio in certain wallets (102% ratio atm)
Today 1.3M #GMT was minted on #BSC and an equivalent 1.3M #GMT were sent & held in a wallet on #Solana.
3/ Why?
This is done to ensure that tokens can move both ways.
Theoretically: When #StepN decides to bring liquidity back from #BSC to #Solana, they could burn the tokens on #BSC and release an equivalent amount of #GMT from their wallet back into #Solana.
3/ Next, I've got some DMs stressing that the vesting schedule (by investors) is still followed and very active meaning that none of the vested tokens have been paid out.
This wallet has received 186,669 #GMT over 7 months. It has a registered domain "tehmoonwalker.sol". There's a Twitter account with an equivalent name @tehMoonwalkeR
3/ The account is followed by @Stepnofficial and has been posting very actively until early June. Then it got more silent.
Given his huge following base, I'm guessing this could be an influencer paid by #StepN to promote the project.
Topics:
* Background of hosts
* Apple marketplace
* Roadmap
* Badges & Achievements
* Updates
* When rainbow+?
* Remove rainbows?
* Token burns from spending wallet?
* Marketplace filters?
* Dark mode?
2/ Background of hosts
* @bnBeth_solvax joined @Stepnofficial in January. She became an ambassador in May, recently promoted to lead ambassador
* @tyson_schubert joined #StepN in December. Has known @yawn_rong > 4 years. Started hosting fitness show. Now head of community
3/ Apple marketplace
* Apple changed their fair rules
* In-app marketplace will be removed
* Android devices won't have any changes
* #StepN marketplace can still be reached through m.stepn.com
* Update will be tomorrow morning
* Not an immediate forced update
* Grab all wallets that withdrew 1,000 or more #GMT on a daily basis from their spending account.
* Sort that list based on the amount of days they've been doing so.
* Show the total #GMT withdrawn.