GMT
Crypto Overview
Understanding the Intended Utility
GMT is the governance token of STEPN, a Web3 lifestyle app with GameFi elements launched in 2021. The token's intended utility includes governance voting rights, token staking, in-game features like sneaker minting, and various platform activities within the STEPN ecosystem.
Business Model Assessment
STEPN operates as a 'move-to-earn' platform where users purchase NFT sneakers and earn rewards by walking, jogging, or running. GMT serves as the governance token and key utility token within this ecosystem. The core business model involves promoting physical activity and health while rewarding users through blockchain technology.
Actual Utility Analysis
The token demonstrates significant real-world adoption within the STEPN ecosystem. GMT is actively used for governance voting, sneaker minting, and various in-game activities. The platform maintains regular updates and development activity, with a strong focus on expanding its ecosystem features.
Token Distribution and Founder Assessment
Initial token distribution included vesting periods for team members and early investors. The project maintains transparency regarding token allocation and usage. The founding team has maintained consistent involvement in the project's development since launch.
Additional Considerations
The platform's core functionality revolves around physical activity and social elements, avoiding traditional financial services or interest-bearing mechanisms. The ecosystem doesn't facilitate any prohibited activities under Islamic law.
Crypto Impact
To assign a comfort level investing in GMT from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to GMT.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.