Thread by @CryptoEdgar_

1/17
There's some extreme negativity in the community due to a falling #GST price and some "ivory tower" feelings.

How's it possible when the app has been working smoothly, is relatively bug-free & had almost no downtime?

Some personal thoughts regarding all this #STEPN 👇

2/
The #STEPN team has been extremely quiet regarding everything that's been going on in the past few weeks. The last written statement to the whole community was done nearly a month ago and I wrote a breakdown here:

https://twitter.com/CryptoEdgar_/status/1534495387070898176

A quick recap 👇

3/
Most items were addressed but not always in the best way possible.

"Energy sharing"
I mentioned it was too complex & the proposed changes were too impactful.
Currently each realm has their own energy system with no sharing. But it's still unclear on how to prepare for Realm 3

4/
"The (no-exercising) pure mint-and-sell activities"
It worked in a way that it's not profitable to mint new sneakers now. Most importantly: The current changes won't stop the minting farms from reappearing once minting becomes profitable again. All ingredients can be purchased

5/
"Dynamic Minting Costs"
Hasn't been applied in over a month due to the falling #GST price and no real application for a #GST price under $1. The real stresstest will come with Realm 3. I fear that a manual, 1x per day change might not be enough. I still advocate a fluid system

6/
"Sneaker burn"
A job well done on this one. Flawless implementation. Great add-on with the "chance on skip a sneaker quality lvl".
And last but not least. They did a good job by connecting the new feature to the release of the new realm.
FP sneakers are being actively burned.

7/
Realm 3 - Ethereum
Not all details have been revealed just yet but I'll say this:

It feels awkward to tease with a huge name as @BoredApeYC for your new realm whilst they deny any involvement at the same time.

@ktrainUSA_STEPN put it nicely:

https://twitter.com/ktrainUSA_STEPN/status/1542884866210951168

8/
Some good things:
- Everyone has a chance to enter the realm through a raffle (

https://twitter.com/Stepnofficial/status/1541032774077128704

)
- #STEPN kept their promise regarding genesis holders
- They achieved their goal of getting #BAYC holders talk about #STEPN. Maybe less positive than planned.

9/
Not all of us will be able to jump into the third realm. The main goal of #STEPN is still to make money. Creating hype & desire requires scarcity and limitations.
Just make sure to give everyone that's been playing #STEPN in the last months a chance to be a part of it.

10/
When I look at everything from a distance I feel that what's missing most is a clear breakdown of the brand, vision and innovation.

As it was put nicely by @Firelauncher_ yesterday (

https://twitter.com/jameswerk/status/1543349536910938112

)
Please share the long term vision and the direction we're headed in

11/
A message to the leadership team:

"Please address the community and break it down to them. Paint the big picture."

What does the plan look like? What steps are we taking and why? Clarify. Be open and honest. Share the goal

@yawn_rong @Jerry10240 @shitirastogi @Mable_Jiang

12/
A lot of #Web3 users are goal oriented. They want to make a profit. But they're also the loudest community.

There are many others who just walk and stay fit but need a small incentive to do so. Make sure not to scare them away with ads or extreme complexity.

13/
Ambassadors

* Should be thought of as an extension of the HQ brand team
* Tightly connected to the product & love it
* Receive feedback & communicate to the team

I feel like the last point is missing. I'd highly advise #STEPN to listen & meetup with them. Feel the user base

14/
@Barndog_Solana is the perfect example. He completely changed his life using #STEPN and is extremely vocal on how he did so and why the product is important to him.

But there are more. @Krit_STEPN made a nice overview of all the current ambassadors:

https://twitter.com/Krit_STEPN/status/1538842948309336065

15/
People ask me. Is #STEPN dead?
Remember that it's a though time to be building any product but @Stepnofficial is doing just that. There's app stability, bug splashes and product releases. Several months ago we were walking in the wrong speed or not able to walk at all.

16/
#STEPN claims to have 1M DAU which is impressive and indicates that the majority sees the health benefits.
But it's true that #Move2Earn on #SOL and #BSC has plummeted and will keep doing so until new measures are implemented.

17/
Conclusion:
#STEPN is dealing with a lot of negativity but is far from dead. The app is thriving with a user base of >1M DAU.
On the other hand they've been unable to put a stop to the recent FUD regarding prices with a structured and detailed action plan.