Step App

Halal Rating :
Questionable
Last Price $0.00 Last updated:
Rank 1289
1D Change 0.95 %
Market Cap $7.6m
Circulating supply 2,530,000,000
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Health
  • Marketplace
  • Platform
  • Sports
  • AI & Big Data
  • Collectibles & NFTs
  • DeFi
  • Gaming
  • DAO
  • Wallet
  • DApp
  • Yield Farming
  • Launchpad
  • Avalanche Ecosystem
  • DAO Maker
  • Token
  • Move To Earn

Overview

Step App is a move-to-earn fitness platform built on the Avalanche blockchain that rewards users with cryptocurrency for physical activity and exercise. The platform uses FITFI as its governance and utility token.

Intended Utility

The FITFI token serves multiple purposes within the Step App ecosystem: governance rights for protocol decisions, staking rewards, in-app purchases of NFT sneakers required for earning rewards, and payment for platform services.

Actual Utility

The platform officially launched in December 2022 and has shown genuine adoption with over 1 million registered users according to their latest reports. The app is actively being used for its intended fitness tracking and reward purposes, with regular updates and development activity visible on their GitHub repository.

Token Distribution and Founder Assessment

The total supply of FITFI is 6 billion tokens. The distribution includes: 15% for the team (with a 3-year vesting period), 25% for the ecosystem and rewards, 30% for the community, and 30% for strategic partners and advisors. The vesting schedules and lock-up periods appear reasonable and designed to prevent early dumping.

Technology and Revenue Model

The platform generates revenue through NFT sales, marketplace fees, and subscription services. While it includes staking mechanisms, these are based on protocol rewards rather than interest-bearing loans. The core move-to-earn mechanism involves users earning rewards for physical activity, which represents a legitimate exchange of value (effort for tokens).

Crypto Impact

To assign a comfort level investing in Step App 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 App.

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