Step®
Crypto Overview
Purpose and Utility
STEP is the native token of the Step Network, a move-to-earn fitness application built on the Avalanche blockchain. The platform aims to incentivize physical activity by rewarding users with STEP tokens for walking, running, and other physical activities tracked through their mobile devices.
Business Model
The platform generates revenue through NFT sneaker sales, marketplace fees, and token transactions. Users must purchase NFT sneakers to participate in the move-to-earn system. The business model appears transparent and does not involve prohibited activities like gambling or interest-based lending.
Real-World Adoption
The Step Network has shown moderate adoption since its launch, with active users participating in the move-to-earn ecosystem. The platform maintains partnerships with various fitness brands and has integrated with multiple blockchain networks to expand its reach.
Development Activity
The project maintains regular development updates and platform improvements. The team continues to expand features and functionality, including enhanced tracking capabilities and new reward mechanisms.
Token Distribution
The token distribution includes allocations for the team, development, marketing, and community rewards. Team tokens are subject to vesting schedules to align long-term interests.
Crypto Impact
To assign a comfort level investing in Step® 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 Step®.
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.