Binance announced on this first day of March the inclusion of another cryptocurrency in its token launch system, Binance Launchpad.. This time the crypto asset that will be listed by the exchange will be STEPN, a health and fitness game built on Solana (SOL) that pays its users to run.
So is, STEPN is a mobile application that, in addition to offering you statistics on your physical activities like Runkeeper or SportsTracker, pays you in cryptocurrencies for your running performance.
STEPN has a dual token system, a gaming token, called the Green Satoshi Token (GST), and a governance token, the Green Metaverse Token (GMT), the latter of which will launch on Binance with an initial price of $0.01 per GMT.
In the case of GMT, it can be used both in the governance of the game, in which the longer the blocking period of the token, the more voting power the user will have, and in a staking system, in which the users are rewarded. users for providing liquidity to the protocol.
The token launch on Binance will follow the Binance Launchpad rules and thus could repeat the success of Alpine, a Formula 1 team fan token, which was launched by the exchange last month and is up 1,800% on his debut.
In addition to Alpine, all the latest releases from the exchange in the model, League of Kingdoms (LOKA); Voxies (VOXEL) and the FC Porto Fan Token (PORTO) were also up over 2,000% on the day of the listing.
To participate in the exchange’s Launchpad system and get early access to tokens (about 2 hours before trading starts) users need to fulfill a number of tasks which include holding BNB in the user’s wallet on Binance, as well as signing up for a period to buy the token in advance.
STEPN
STEPN is a health and fitness app, and while it’s free-to-play, meaning you don’t need to buy any NFTs to get into the game, to earn tokens for your physical activities users need to buy a trainer in NFT for the game. Each NFT is traded, on average, for around 9 SOL.
Trainers in NFT can be upgraded and come in different types, qualities and models and through them users get rewards for their runs, walks and other physical activities.
According to the developers of STEPN, the project aims to inspire millions of people to lead a healthier lifestyle, connect them with Web3 and fight against climate change, and for this the game offers various gamification features in the application, such as leveling up trainers, minting new trainers, mystery boxes, NFT customization, and social interactions.
STEPN has raised about $5 million from investors, where 16.30% of the total GMT token supply has been sold for about $0.005/GMT. The game also comes with a built-in wallet that supports both its native tokens like GMT and GST, as well as SOL and USDC.
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