Author: @BitMetis | BitReport

Your Source of Reliable, Unbiased Research and Due Diligence

BitMetis Review：

Gameplay： Free to play/move to earn/easy and distinctive gameplay

Tokenomics: The tokenomics is complicated and exists Ponzi scheme risks.

NFT： The price is high and the current NFT price is stable. But recently prices have shown a downward trend.

Community： Large community and active extremely with high user loyalty

Investor & Team： Top VC in the world and powerful advisors

Introduction

STEPN is a Web3 lifestyle app with inbuilt Game-Fi and Social-Fi elements. STEPN is built around an essential daily activity for most people – moving around. They are the first project to effectively bring to life a functioning move & earn concept, finishing 4th out of 500+ projects at the Solana Ignition Hackathon 2021.

To start, users need to download the STEPN app available on android and IOS.And there are two modes of gameplay: Solo and Marathon.

• Choose a sneaker that fits your fitness level. In Solo Mode, users are equipped with NFT Sneakers to earn tokens by moving. Energy is needed to earn GST.  Players can choose to rent or buy sneakers in the app market.

• Turn on the GPS and move around. Players can choose to walk, jog or run. But one thing to mention is that if the app detects a weak GPS/internet signal, or the user is not organically moving,no rewards will be earned.

In Marathon Mode, users need to register under the Marathon Tab at least 24 hours prior to commencement. There will both be Weekly Marathons and Monthly Marathons. Weekly Marathon - (whole week) Users can choose to participate in the 2.5km, 5km, or 7.5km Marathons (only 1 chance to participate at a time) Monthly Marathon- (whole month) Users can choose to participate in the 5km, 10km, or 15km Marathons (only 1 chance to participate at a time)

Users can rent/lease or sell/buy their NFT Sneakers, Badges, and Gems.In the STEPN app, NFT Sneakers can be leveled up by burning tokens. This NFT collection will have ASICS style Common/Uncommon Walker, Jogger, Runner and Trainer to be used in STEPN.

In Magic Eden, the floor price is 4.4 SOL($183) with 4.1K items. Due to the overall bear market, the price fluctuations in May are very volatile. The floor price was as high as 14.5 SOL ($604) and the trade volume reached 6.32K on April 28 when there was large-scale hype like AMA, GST and GMT giveaway.

In addition, STEPN x ASICS NFT Sneakers, the very first limited edition of STEPN. Currently the floor price is $555.5 with 57,331 listed counts. And the traded volume has reached $298,308 which ranked 4th in Binance NFT marketplace.

There are two tokens in STEPN.  To  avoid GST sky-rocketing or crashing hard in BNB and Solana, the team has provided the permanent management solution——dynamic minting.

GST has an unlimited supply and is earned when a user moves in Solo or Background Mode.

GST Burning Mechanics

• Shoe-Minting

• Repair

• Leveling up Sneakers

• Gems upgrade

GST has seen an explosive increase in price — from hovering at $4 to $5.5 for most of April to suddenly reaching an all-time high of $9.03. The cause of this was likely Coinbase listing. This drew attention to GST as suddenly retail traders had easy access to the token, drawing in large numbers of speculators towards its price.

• Governance: the longer the locking period, the higher the voting power.

• Staking reward: GMT stakers can vote to decide the distribution of staking rewards.

• Accrual of protocol revenue: Sneaker upgrades and minting of new sneakers.

Total supply: 6,000,000,000

Private: 16.3%, IDO at 0.005USD

Public: 7% unlock at TGE ($29,400,000), sold 0.010 USD at TGE.

Total Unlock Ratio at TGE: 10% (7% for public sale; 3% for ecosystem and treasury)

Now Let’s see the ROI for public sale at TGE.

The current price of both GST and GMT is in a downtrend and collapse. Let's analyze the specific reasons in the following:

• Due to regulatory requirements, the mainland market in China is temporarily unable to use the app, and users who have purchased sneakers cannot continue to move with STEPN, which lost the faith and market about the huge China market

• A plenty of players complained that the team changed the white paper privately: the trading fee originally distributed to the ecosystem was changed to the team income.

• Prices on the two chains are inconsistent and far apart. The price increases dramatically with the possibility of  Ponzi which is an excellent point.

STEPN has won at the starting line both in terms of team and backers. The team members have been working in their respective areas of expertise for ten years and have a lot of experience. Especially its backers, such as SEQUOIA, Folius Ventures, Binance, Solana Ventures and so on. Let’s take SEQUOIA for example: Sequoia, founded in 1972, has invested in innovative companies such as Apple, Google, Cisco, Oracle, Yahoo, LinkedIn and many others as the first institutional investor. Sequoia Capital ranked first  in "2019 Hurun Global Unicorn Active Investment Institutions List". At the same time, there are excellent advisor bonuses like:

• Scott Dunlap:VP at ADIDAS

• William Robinson:Head of accelerator at Alliance

STEPN has attracted countless players as a leading and popular Lifestyle project. There are 500,000+ downloads on Android. There are 612.2K followers on Twitter and 300K followers with 17K followers online in Discord which is really surprising data! In addition, there are 235 whales followers with great influence. In recent 50 sneakers giveaway activity, there are 154.6K Likes and 185.3k retweets. The competition ratio has reached 1:3000. The average number of likes for daily tweets is around 1500, while the activity tweet Like exceeds 14K.

In the meantime, among the 5 AMA events, the average number of AMA participants is 5.5K. Also, there are more than 800+ messages in the whole channel in Discord. Through this data, we can see that except for the large scale of the community, the activity and participation ratio of the community is also extremely high!

*The above content is derived from the real data of 2022/5/20 (for reference only). The specific data is subject to the real-time data.

1. Powerful investors and advisors: Sequoia

2. Novel gameplay app which Created a new world of the Web3 revolution

3. Large community scale and active-loyal users

4. Due to regulatory requirements, the mainland market in China is temporarily unable to use the app, and users who have purchased sneakers cannot continue to move with STEPN, which is not conducive to users in China.

Author: @BitMetis | BitReport

Your Source of Reliable, Unbiased Research and Due Diligence

BitMetis Review：

Gameplay： Free to play/move to earn/easy and distinctive gameplay

Tokenomics: The tokenomics is complicated and exists Ponzi scheme risks.

NFT： The price is high and the current NFT price is stable. But recently prices have shown a downward trend.

Community： Large community and active extremely with high user loyalty

Investor & Team： Top VC in the world and powerful advisors

Please Note: the above content analysis is only for Reference information, not as a basis for investment decision-making. Bitmetis and the author of the report will not be responsible for the user's investment results.

BitMetis

The world's first decentralized Game-Fi distribution platform.

We aim to build a bridge to connect every aspect of metaverse.

Real-time Data|Trending Events|Guides|Click-to-Earn Bounties

Where to find us？ Twitter：https://twitter.com/BitMetis Telegram：https://t.me/bitmetis_official Discord：https://discord.com/invite/pp6CBntccT YouTube：https://www.youtube.com/channel/UCCPexBnOwLnPrEFSsbKFYeA All Links：https://linktr.ee/bitmetis

Author: @BitMetis | BitReport

Your Source of Reliable, Unbiased Research and Due Diligence

BitMetis Review：

Gameplay： Free to play/move to earn/easy and distinctive gameplay

Tokenomics: The tokenomics is complicated and exists Ponzi scheme risks.

NFT： The price is high and the current NFT price is stable. But recently prices have shown a downward trend.

Community： Large community and active extremely with high user loyalty

Investor & Team： Top VC in the world and powerful advisors

Introduction

STEPN is a Web3 lifestyle app with inbuilt Game-Fi and Social-Fi elements. STEPN is built around an essential daily activity for most people – moving around. They are the first project to effectively bring to life a functioning move & earn concept, finishing 4th out of 500+ projects at the Solana Ignition Hackathon 2021.

To start, users need to download the STEPN app available on android and IOS.And there are two modes of gameplay: Solo and Marathon.

• Choose a sneaker that fits your fitness level. In Solo Mode, users are equipped with NFT Sneakers to earn tokens by moving. Energy is needed to earn GST.  Players can choose to rent or buy sneakers in the app market.

• Turn on the GPS and move around. Players can choose to walk, jog or run. But one thing to mention is that if the app detects a weak GPS/internet signal, or the user is not organically moving,no rewards will be earned.

In Marathon Mode, users need to register under the Marathon Tab at least 24 hours prior to commencement. There will both be Weekly Marathons and Monthly Marathons. Weekly Marathon - (whole week) Users can choose to participate in the 2.5km, 5km, or 7.5km Marathons (only 1 chance to participate at a time) Monthly Marathon- (whole month) Users can choose to participate in the 5km, 10km, or 15km Marathons (only 1 chance to participate at a time)

Users can rent/lease or sell/buy their NFT Sneakers, Badges, and Gems.In the STEPN app, NFT Sneakers can be leveled up by burning tokens. This NFT collection will have ASICS style Common/Uncommon Walker, Jogger, Runner and Trainer to be used in STEPN.

In Magic Eden, the floor price is 4.4 SOL($183) with 4.1K items. Due to the overall bear market, the price fluctuations in May are very volatile. The floor price was as high as 14.5 SOL ($604) and the trade volume reached 6.32K on April 28 when there was large-scale hype like AMA, GST and GMT giveaway.

In addition, STEPN x ASICS NFT Sneakers, the very first limited edition of STEPN. Currently the floor price is $555.5 with 57,331 listed counts. And the traded volume has reached $298,308 which ranked 4th in Binance NFT marketplace.

There are two tokens in STEPN.  To  avoid GST sky-rocketing or crashing hard in BNB and Solana, the team has provided the permanent management solution——dynamic minting.

GST has an unlimited supply and is earned when a user moves in Solo or Background Mode.

GST Burning Mechanics

• Shoe-Minting

• Repair

• Leveling up Sneakers

• Gems upgrade

GST has seen an explosive increase in price — from hovering at $4 to $5.5 for most of April to suddenly reaching an all-time high of $9.03. The cause of this was likely Coinbase listing. This drew attention to GST as suddenly retail traders had easy access to the token, drawing in large numbers of speculators towards its price.

• Governance: the longer the locking period, the higher the voting power.

• Staking reward: GMT stakers can vote to decide the distribution of staking rewards.

• Accrual of protocol revenue: Sneaker upgrades and minting of new sneakers.

Total supply: 6,000,000,000

Private: 16.3%, IDO at 0.005USD

Public: 7% unlock at TGE ($29,400,000), sold 0.010 USD at TGE.

Total Unlock Ratio at TGE: 10% (7% for public sale; 3% for ecosystem and treasury)

Now Let’s see the ROI for public sale at TGE.

The current price of both GST and GMT is in a downtrend and collapse. Let's analyze the specific reasons in the following:

• Due to regulatory requirements, the mainland market in China is temporarily unable to use the app, and users who have purchased sneakers cannot continue to move with STEPN, which lost the faith and market about the huge China market

• A plenty of players complained that the team changed the white paper privately: the trading fee originally distributed to the ecosystem was changed to the team income.

• Prices on the two chains are inconsistent and far apart. The price increases dramatically with the possibility of  Ponzi which is an excellent point.

STEPN has won at the starting line both in terms of team and backers. The team members have been working in their respective areas of expertise for ten years and have a lot of experience. Especially its backers, such as SEQUOIA, Folius Ventures, Binance, Solana Ventures and so on. Let’s take SEQUOIA for example: Sequoia, founded in 1972, has invested in innovative companies such as Apple, Google, Cisco, Oracle, Yahoo, LinkedIn and many others as the first institutional investor. Sequoia Capital ranked first  in "2019 Hurun Global Unicorn Active Investment Institutions List". At the same time, there are excellent advisor bonuses like:

• Scott Dunlap:VP at ADIDAS

• William Robinson:Head of accelerator at Alliance

STEPN has attracted countless players as a leading and popular Lifestyle project. There are 500,000+ downloads on Android. There are 612.2K followers on Twitter and 300K followers with 17K followers online in Discord which is really surprising data! In addition, there are 235 whales followers with great influence. In recent 50 sneakers giveaway activity, there are 154.6K Likes and 185.3k retweets. The competition ratio has reached 1:3000. The average number of likes for daily tweets is around 1500, while the activity tweet Like exceeds 14K.

In the meantime, among the 5 AMA events, the average number of AMA participants is 5.5K. Also, there are more than 800+ messages in the whole channel in Discord. Through this data, we can see that except for the large scale of the community, the activity and participation ratio of the community is also extremely high!

*The above content is derived from the real data of 2022/5/20 (for reference only). The specific data is subject to the real-time data.

1. Powerful investors and advisors: Sequoia

2. Novel gameplay app which Created a new world of the Web3 revolution

3. Large community scale and active-loyal users

4. Due to regulatory requirements, the mainland market in China is temporarily unable to use the app, and users who have purchased sneakers cannot continue to move with STEPN, which is not conducive to users in China.

Author: @BitMetis | BitReport

Your Source of Reliable, Unbiased Research and Due Diligence

BitMetis Review：

Gameplay： Free to play/move to earn/easy and distinctive gameplay

Tokenomics: The tokenomics is complicated and exists Ponzi scheme risks.

NFT： The price is high and the current NFT price is stable. But recently prices have shown a downward trend.

Community： Large community and active extremely with high user loyalty

Investor & Team： Top VC in the world and powerful advisors

Please Note: the above content analysis is only for Reference information, not as a basis for investment decision-making. Bitmetis and the author of the report will not be responsible for the user's investment results.

BitMetis

The world's first decentralized Game-Fi distribution platform.

We aim to build a bridge to connect every aspect of metaverse.

Real-time Data|Trending Events|Guides|Click-to-Earn Bounties

Where to find us？ Twitter：https://twitter.com/BitMetis Telegram：https://t.me/bitmetis_official Discord：https://discord.com/invite/pp6CBntccT YouTube：https://www.youtube.com/channel/UCCPexBnOwLnPrEFSsbKFYeA All Links：https://linktr.ee/bitmetis