STEPN's Next Step: Gas Hero

STEPN, the first move-to-earn application, was launched by Find Satoshi Lab (FSL) in December 2021. In essence, users were given GMT tokens for clocking a certain number of steps daily, kickoffing the  “move-to-earn” trend. However, the absence of a viable token sink model placed down pressures on GMT’s price.

Although GMT’s price fell alongside the broader crypto markets, it should be noted that GMT was highly inflationary, with GMT being distributed to STEPN users continuously. As such, without any other demand for GMT, it continued to see downward price action.