What is Green Metaverse Token?
STEPN is a Move-to-Earn health and fitness application. Users equipped with Sneaker NFT can move outdoors to earn tokens and NFT rewards. STEPN has a built-in wallet, swap, marketplace, and RNPL (Rent Now Pay Later) system to make STEPN a bridge between crypto and non-crypto users.
STEPN has a dual-token system, a game token – Green Satoshi Token (GST) and a governance token – Green Metaverse Token (GMT).
GMT is the native governance token of STEPN and has the following use cases:
- Governance: Stake to participate in governance, the longer the locking period, the higher the voting power.
- Profit distribution: GMT holders own the treasury and can vote to decide the distribution of net profit.
- Accrual of protocol revenue: GMT is burned to access in-app features, such as sneaker upgrades and minting of new sneakers.