GMT
Crypto Overview
Purpose and Utility
GMT is the governance token of STEPN, a move-to-earn lifestyle app launched in 2021. Users buy NFT sneakers and earn tokens by walking, jogging, or running. GMT holders can participate in governance decisions and access various platform features.
Business Model Evaluation
The platform encourages physical activity while incorporating blockchain technology. The main revenue streams come from NFT marketplace fees, in-app purchases, and token transactions. The business model appears transparent and doesn't involve prohibited activities like gambling or interest-based lending.
Real-World Adoption
STEPN has demonstrated significant user adoption since launch, with hundreds of thousands of active users. The app has partnerships with ASICS, NIKE, and other major brands, showing legitimate business development.
Platform Development
The development team regularly updates the platform, adding new features and improving existing ones. The project maintains an active GitHub repository and consistently releases new versions of the app.
Token Distribution
GMT has a maximum supply of 6 billion tokens. The distribution includes allocations for ecosystem development, team members with vesting periods, and public sale participants. The token distribution model includes reasonable vesting schedules for team and advisors.
Technology and Revenue Model
The platform operates on the Solana and BNB Chain networks. The earning mechanism is based on physical activity rather than interest or lending, making it compliant with Islamic principles.
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.