GMT
Crypto Overview
Project Overview
GMT is the governance token of STEPN, a Web3 lifestyle application with GameFi elements launched in 2021. The app rewards users with cryptocurrency for physical activities like walking, jogging and running.
Intended Utility
GMT serves multiple purposes within the STEPN ecosystem: governance rights for protocol decisions, leveling up in-game items (NFT sneakers), unlocking advanced features, and platform fee payments. The token is designed to incentivize physical activity while building a sustainable 'move-to-earn' economy.
Actual Utility Analysis
The platform has demonstrated significant real-world adoption with millions of registered users. On-chain data shows active usage of GMT for its intended purposes, particularly in sneaker upgrades and governance. The development team maintains regular updates and feature releases, indicating genuine utility fulfillment.
Token Distribution & Governance
Initial token distribution allocated 30% to move-to-earn rewards, 30% to the treasury/ecosystem fund, 16.3% to the team/advisors (with 4-year vesting), 14.2% to private sale participants, and 9.5% to public sale. Vesting schedules and lock-up periods are implemented to prevent immediate selling by early investors.
Revenue Model
The platform generates revenue through NFT marketplace fees, sneaker minting costs, and leveling up expenses - all legitimate business activities without interest-bearing mechanisms. The model focuses on value creation through encouraging physical activity and community participation.
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.