Green Satoshi Token (BSC)
Crypto Overview
Purpose and Utility
Green Satoshi Token (GST) is the utility token of STEPN, a 'move-to-earn' blockchain-based fitness application. Users earn GST tokens by walking, jogging, or running while wearing NFT sneakers within the STEPN app. The token serves as the primary in-game currency and can be used to mint, repair, and level up NFT sneakers, as well as participate in the game's governance.
Business Model Assessment
The business model revolves around incentivizing physical activity through token rewards. Users must first purchase NFT sneakers to participate, creating a real exchange of value. The platform generates revenue through NFT trading fees, sneaker minting, and marketplace transactions. The core activities involve actual utility transfer and don't rely on interest-bearing mechanisms or prohibited activities.
Real-World Adoption
STEPN has maintained an active user base since its launch. While exact numbers fluctuate, the application continues to process daily transactions related to NFT trading and token earning through physical activity. The project has partnerships with companies like ASICS and maintains regular platform updates.
Token Distribution and Governance
The token distribution includes allocations for move-to-earn rewards, ecosystem development, and team members. There are vesting schedules in place for team allocations. The project maintains transparent communication about token metrics and usage statistics.
Technology and Revenue Model
The platform operates on the BNB Chain (formerly BSC), with the GST token serving as the primary utility token. The revenue model is based on NFT transactions, marketplace fees, and token economics, not on interest-bearing activities or gambling mechanisms.
Crypto Impact
To assign a comfort level investing in Green Satoshi Token (BSC) 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 Green Satoshi Token (BSC).
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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