Green Satoshi Token (GST)

Published on:

Green Satoshi Token (GST) is one of two tokens of the STEPN project, a mobile blockchain application with the Move-to-Earn concept. The second token is GMT, its main role is to provide project management rights and a number of game functions. In GST, users receive rewards for their success, after which they can withdraw the reward or reinvest it in improving NFT sneakers and thereby increase future profits.

The project participated in the Solana Ignition Hackathon in 2021, took first place there, and became the first NFT game for mobile devices to do so. Thanks to its high-quality gaming architecture, intuitive interface, built-in crypto wallet, and marketplace tools, STEPN attracted the attention of judges and potential users.

An application that allows people who lead a healthy lifestyle to earn cryptocurrency in parallel has two functional tokens:

  • Green Satoshi Token (GST) is a utility token.
  • Green Metaverse Token (GMT) is a governance token.

Both assets have their own value but differ in technical features. In particular, GST is an inflationary token, the supply of which is not limited, but there is a burning mechanism.

GST can be used to level up NFT sneakers or mint new ones. In addition, it is this currency that users earn for their actions (running) in accordance with the Move-to-earn concept. After reaching NFT level 30, the user starts earning GMT.

According to the official information of the developers, GST is burned when its owner performs the following actions:

  • Minting (minting) of new NFT sneakers.
  • Repairing sneakers — shoes gradually wear out with each run.
  • Increasing the level of sneakers, which in turn increases the potential income.
  • Unlocking special “nests” in sneakers, where you can install crystals for improvement.
  • Increasing the level of crystals.
  • In the future, it is also planned to add regular performance competitions between users with GST prizes.
Read more:  Galaxy (GAL)