• Ticker: GMT
• Network: Solana
• Category: Governance, Utility

About NMR

The Green Metaverse Token ($GMT) is the main governance token of STEPN, the pioneering Move-to-Earn (M2E) application that incentivizes physical activity with crypto rewards. STEPN is built on the Solana blockchain and encourages users to walk, jog, or run outdoors. The platform operates on a dual-token model, where $GMT represents the governance and long-term value of the ecosystem.

The GMT token is earned by advanced users and serves to unlock premium features and steer the project's future.

Key points

• Governance: GMT holders vote on the allocation of treasury profits, fee structures, and future platform decisions through the GMT DAO.
• Premium Utility: GMT is burned (permanently removed from circulation) to access high-level upgrades, such as minting rare sneakers, unlocking gem sockets, or leveling up sneakers to Level 30.
• High-Level Earning: Users with high-level sneakers (Level 30 and above) can choose to earn GMT directly instead of GST.
• Deflationary Mechanism: A portion of the profits generated by the app is used to buy back and burn GMT, reducing the total supply and supporting token value.

FAQs

• What is GMT used for?

GMT is the governance and advanced utility token. Its primary functions are: voting on platform decisions, unlocking premium features, and acting as a long-term store of value and reward for highly engaged users. MASK can also be used for staking to earn rewards and may grant access to premium features within the ecosystem.

• How does GMT work?

GMT works by creating a direct, tokenized link between real-world fitness and decentralized finance. Users physically move to earn the token, which is then used in a burn mechanism for upgrades. This creates perpetual demand for the token, which is necessary to maintain the game's economy and its commitment to carbon neutrality.

• How can I buy GMT on Bitso?

1. Log in to your Bitso account or sign up if you don’t have one.
2. Go to “Buy/Sell” and select GMT as the token you want to purchase.
3. Choose any available fiat currency (MXN, ARS, BRL, COP, or USD) as your base.
4. Enter the amount, review the details, and confirm your transaction.

You can track the token’s performance directly in the app.

Tokenomics

The GMT tokenomics are focused on creating scarcity and community decentralization. The maximum supply is fixed at 6 billion tokens. The supply release is strategically designed to halve every 3 years, ensuring long-term sustainability. The ongoing buyback and burn mechanism uses a portion of the app's profits to permanently remove GMT from circulation, offsetting the token emission and supporting its deflationary status.

Example use case

Imagine you want to customize your NFT sneaker by changing its name and upgrading it to Level 30 to maximize your earning potential. To perform these high-level actions, the STEPN app requires you to burn a certain amount of $GMT. By spending (burning) $GMT, you enhance your digital asset, while simultaneously contributing to the overall scarcity of the token for the entire community.

Disclaimer

This Help Center article is for informational purposes only and does not constitute investment advice. Please conduct your own research (DYOR) and assess your risk tolerance before trading. As always, invest responsibly and stay informed.