Green Satoshi Token (ETH)
Crypto Overview
Overview
Green Satoshi Token (GST) is the utility and governance token of STEPN, a 'move-to-earn' blockchain-based lifestyle app launched in 2021. The token operates on both Solana and Ethereum networks, with this analysis focusing on the Ethereum implementation.
Intended Utility
GST serves as the main earning token within the STEPN ecosystem. Users earn GST by walking, jogging, or running while wearing NFT sneakers. The token is meant to incentivize physical activity and healthy lifestyle choices.
Business Model Analysis
The core business model involves users purchasing NFT sneakers to participate in the move-to-earn system. GST earned can be used for: minting new sneaker NFTs, repairing existing sneakers, leveling up sneakers, and unlocking gem sockets. The model inherently promotes physical activity and health, which aligns with Islamic principles of maintaining physical well-being.
Actual Utility Assessment
The platform demonstrates significant real-world adoption with over 4.72 million registered users as of 2023. On-chain data shows active daily transactions, indicating genuine utility. The development team maintains regular updates and improvements to the platform.
Token Distribution and Governance
GST is generated through user activity rather than pre-mined allocation. This creates a more equitable distribution model where tokens are earned through actual physical activity. There is no evidence of excessive founder token allocation or concerning vesting schedules.
Technical Implementation
The platform utilizes GPS tracking and blockchain technology to verify user movement and reward distribution. The technical architecture appears robust with regular security audits and updates.
Crypto Impact
To assign a comfort level investing in Green Satoshi Token (ETH) 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 (ETH).
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.