In our first article about Stepn, we showed you the general, overall outlay of Stepn. This article will go much more into details. We will tackle the nitty-gritty here. The project is still as hot as two jalapeños in a spicy Thai chili sauce. As a result, the sneaker floor price went up again. Just a little this time, by 0.16%, and is now at 12.15 ETH.
Furthermore, we managed to get our activation code and are now inside the mobile app. A quick reminder, Stepn adds 2000 new activation codes each day. Half of them on their Discord and the other half on Telegram. Each day at 13.00 UTC. So, what are we waiting for? Let’s look at Stepn in more detail.
Let’s dive some deeper into the three different game modes in the Stepn app. There are still many features under development. Wherever this applies, we will point it out. Make sure that you have a sneaker. Otherwise, you can’t take part. Currently, you can only own a sneaker, but soon you should be able to rent a sneaker. Most importantly, don’t forget to take your phone on your outings. So far, we haven’t found any sign that you can upload runs from your running watch.
- Solo Mode—This is how you can start earning. However, you will need Energy first, so you can earn GST. Each 1 Energy gives you a 5-minute window to move and earn. You only start to use up Energy after you buy a sneaker NFT. Be careful with the cheating feature. There’s a Moonwalking warning. This works when there is no strong GPS signal or if you don’t move in an organic way. For instance, using a scooter. In this mode, you don’t earn and may get penalized instead.
- Mystery Boxes—You can earn them in Solo Mode. They are randomly dropped and contain Gems (level 1-3). In total, you have four slots for Mystery Boxes. Once you receive one, there’s a countdown, and you need to wait. It will cost a few GST to open the box.
- Marathon Mode—Still under development. You need to register for the two options. You get the registration fee back after completion of the challenge.
Weekly Marathon—They last all week and are on each week. You can choose between a 2.5km, 5km, or 7.5km option.
Monthly Marathon—Here you have a 5km, 10km, or 15km option. They are on each month and last all month. You can only take part in one weekly or monthly option at a time. The registration fee and rewards are in development. On the other hand, the leaderboard is coming soon.
- Background Mode—Under development. As long as you have a sneaker, you can earn GST. Capped to 3,000 daily steps on your mobile.
#STEPN takes another step towards bigger bolder initiatives for its product and community. With this #Binance strategic investment, we are on track to make STEPN the best #fitness app in Web3 and serving the needs of our #community the best way! https://t.co/kmol8MbLss
— STEPN | Public Beta Phase III (@Stepnofficial) April 6, 2022
From the four sneaker attributes, Efficiency and Resilience seem the most important. Luck is coming soon, and Comfort is under development. Sneakers have Durability. Once you move, Durability decreases. There are also “worn-out” options.
- At 50/100 Durability, sneaker Efficiency drops to 90%.
- At 20/100 Durability, sneaker Efficiency drops to 10%.
Here’s a list of the four sneaker types. It’s essential to get the sneaker that fits your profile best.
Source: Stepn white paper
By burning GST, you can upgrade your sneaker. To get to a next level, Stepn has fixed times. However, you can speed the process up by spending more GST. Going up to levels 29 and 30 requires GMT. Each time you level up, you receive 4–12 extra Attribute points. At certain levels, you get more perks. See the picture below. At level 30, you can also customize your sneaker. This is still under development.
Source: Stepn white paper
You can unlock Gem sockets once you reach certain levels with your sneaker. There are four types of Gems. Moreover, each Gem represents an Attribute:
- Yellow: Efficiency
- Blue: Luck
- Red: Comfort
- Purple: Resilience
You can burn GST and use the Upgrade button. Now you can combine three Gems of the same level and upgrade to a higher level. There are success rates for upgrading. Starting at 35% at the lowest level. Level 6-8 have a 100% success rate. From level 4 upwards, it will cost you GST and GMT to upgrade.
There are also four different sockets for each sneaker. You can boost a sneaker’s Attributes by inserting Gems into a socket. At levels 5, 10, 15, and 20, you unlock sockets. A higher socket boosts the inserted Gem’s Attribute.
The Future of Stepn
Currently, everything is in the honeymoon phase and rosy. There are rumors about that a partnership with a big firm is in the air. Stepn publishing a picture on Twitter, like the one below, only puts more fuel on the fire. Can you spot the logos? Look for Nike, Asics, Head, or Adidas.
However, runners who do a lot of mileage per week may not like the app too much. The reason being, you have to bring your mobile phone out. Furthermore, what happens if fewer people start to sign up? The app sees fewer shoes bought and minted. As a result, users burn less GST. For the time being, though, let’s enjoy the ride and make your moves count.
The GMT Token
The GMT token is doing really well at the time of writing. During the last 24 hours, the price went up by 9.7% and is trading at $3.48. Over the last seven days, it rose 63.6%. In the recent 30-day period, it went up 502%. The market cap is $2 billion, with 600 million tokens in circulation. Out of a total of six billion tokens. Don’t forget to check out our Part 1 article on Stepn.
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