CryptoNews

STEPN Launches GMT Earning Plans – Distribution, Pools Explained

Stepn

STEPN has finally, after months of planning, launched the GMT earnings for its users. Though, unlike how it was expected, there are different pools and newer type of groups introduced for the GMT distribution.

By enabling the GMT earning, we can better give back to our community. There will also be a dynamic balance between the GST earning side and the GMT earning side, where either side doing well can benefit the other side. It will create a virtuous cycle because of:

  • All kinds of external possibilities of STEPN as a Superapp being reflected by GMT:
  • Our continuous effort to drive more utilities to GMT
  • The additional demand for other in-game assets

Rules for GMT Earning

To begin, you will need a Level 30 Sneaker. Next, toggle from GST to GMT earning mode within the STEPN app, which can be done on any realm. GMT earnings are cumulatively calculated across all realms, so no realm has an inherent advantage. Previously, many STEPN users have asked if there will be a cooldown period when switching between GST and GMT earning mode, we are pleased to declare that no cooldown will be implemented at this moment. The amount of GMT to be earned will not decrease daily. Instead, GMT emissions will be halved exactly 2 years after the GMT earning commencement date. Similar to the working concept of hash rates in a blockchain network, the GMT earning rate dynamically changes every 1 minute based on the number of users earning GMT at that moment.

Different Types of GMT Earning Sneakers

There will be Four pools:

  • Classic Pool (designed for all existing sneakers)
  • Rainbow Pool
  • Rainbow Plus Pool
  • Schadenfreude Pool (we’ll be launching new series of Rainbow Sneakers)

Generations

a) Generation 0: Classic (When a Sneaker reaches Lvl 30, the Sneaker can be used for GMT mining. Refer to our GMT Earning Mechanics here.)

b) Generation 1: Rainbow

c) Generation 2: Rainbow Plus

d) Generation 3: Rainbow Infinite

On the GMT earning commencement date (27th September 2022), the Rainbow Sneaker upgrade mechanism from enhancements will NOT yet be enabled. This function will be introduced in the future.

  • All Rainbow Series Sneakers are Trainers (1–20km/hr)
  • There will be no Efficiency, Luck, Comfort or Resilience. All Rainbow Series Sneakers will have 100% HP and the HP will not be restorable; once the HP of the Rainbow Series Sneakers is depleted, the sneaker will no longer be usable. HP diminishing rate is proportional to Energy consumption, ALL Rainbow Series Sneakers share an equal HP diminishing rate.
  • There will be 4 slots for Rainbow Gems on each Rainbow Series Sneaker. The Gems can be burned if users want to take them off.
  • The Rainbow Sneaker does not have Minting Function, Level up, nor Repair in our effort to make the game simpler instead of more complex.

GMT Earning Pools

  1. Classic Pool: All Classic Sneakers are eligible for 20% of the GMT earning that day. The higher a Sneaker’s Comfort is, the higher its GMT earning efficacy.
  2. Rainbow Pool: Will be earned by the Rainbow sneakers. Eligible for 30% of the GMT earning that day.
  3. Rainbow Plus Pool: Will be earned by the Rainbow Plus sneakers. Eligible for 50% of the GMT earning that day.
  4. Schadenfreude Pool: Will be earned by the Rainbow Infinite sneakers. Rules to be declared at a later date.
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