Convert GST to CNY

Green Satoshi Token (SOL) is the in-game utility token of the STEPN ecosystem, a leading "move-to-earn" fitness app built on the Solana blockchain, rewarding users for physical activity.

Key takeaways

• GST is the primary utility token within the STEPN app, used for minting, repairing, and upgrading NFT sneakers.
• It operates on the Solana blockchain, leveraging its high speed and low transaction costs.
• The token has an uncapped supply, with new tokens minted as rewards for user activity.
• GST is distinct from GMT, the governance token of the STEPN ecosystem.
• Users can earn GST by walking, jogging, or running while holding an NFT sneaker in the app.

What is Green Satoshi Token (SOL)? Key Specifications & Tokenomics

Green Satoshi Token (SOL) is the in-game currency of the STEPN app, a Web3 lifestyle application that incentivizes physical activity through a "move-to-earn" model. Built on the Solana blockchain, GST is designed to facilitate all core in-app transactions, making it the lifeblood of the STEPN economy. Unlike many cryptocurrencies, GST has no maximum supply; it is an inflationary token minted as rewards for users who complete physical activities. Its value is primarily driven by in-game demand, such as minting new NFT sneakers, repairing worn sneakers, and upgrading sneaker attributes.

Who created Green Satoshi Token (SOL) (GST)?

Green Satoshi Token (SOL) was created by the team behind STEPN, a project founded by Jerry Huang and Yawn Rong. The duo, both experienced in the tech and gaming industries, launched STEPN in late 2021 with the goal of merging fitness, gaming, and decentralized finance (DeFi). The project quickly gained traction, particularly in the Asia-Pacific and North American markets, for its innovative "move-to-earn" concept. The development team is based in Australia and operates under the company Find Satoshi Lab, which also oversees other Web3 projects. The team has emphasized a focus on user experience and sustainability, implementing mechanisms to balance the token economy, such as dynamic minting costs and energy systems. While the founders have remained relatively public-facing, the project is governed by a decentralized autonomous organization (DAO) structure, with GMT serving as the governance token.

How does Green Satoshi Token (SOL) (GST) work?

GST operates as the primary in-game currency within the STEPN ecosystem, functioning on the Solana blockchain. Users must first acquire an NFT sneaker, which can be purchased from the in-app marketplace using either GST or GMT. Once equipped, users can earn GST by walking, jogging, or running outdoors, with the app using GPS and motion sensors to verify activity. The amount of GST earned per session depends on the sneaker's attributes, such as efficiency and luck, as well as the user's energy level, which replenishes over time. GST is then used for essential in-app actions: repairing sneakers (which degrade with use), minting new sneaker NFTs (which requires both GST and GMT), and upgrading sneaker attributes to increase earning potential. The token's supply is dynamic; new GST is minted as rewards, while a portion is burned through in-app fees, creating a deflationary pressure within the inflationary model.

What makes Green Satoshi Token (SOL) (GST) unique and valuable?

GST's uniqueness lies in its direct link to real-world physical activity, setting it apart from traditional GameFi tokens that are earned solely through screen time. This "move-to-earn" model has attracted a broad user base, including fitness enthusiasts and casual users, creating a tangible utility for the token. Its value is derived from the in-game demand for minting, repairing, and upgrading NFT sneakers, which are essential for continued earning. The token's integration with the Solana blockchain ensures low transaction fees and fast confirmation times, making micro-transactions within the app feasible. Additionally, the STEPN ecosystem has implemented anti-cheating measures, such as GPS verification and movement speed caps, to maintain the integrity of the earning mechanism. While GST is inflationary, the team has introduced burning mechanisms through in-app fees and events to help stabilize its value over time.

What is Green Satoshi Token (SOL) (GST) used for?

GST serves as the primary utility token within the STEPN app, with several key use cases:

• Minting New Sneakers: Users must spend both GST and GMT to mint new NFT sneakers, which can then be used to earn more tokens or sold on the marketplace.
• Repairing Sneakers: Each sneaker has a durability level that decreases with use. GST is required to repair sneakers, allowing users to continue earning.
• Upgrading Attributes: Users can spend GST to upgrade their sneaker's attributes (e.g., efficiency, luck, comfort, resilience) to increase earning potential or unlock special features.
• In-App Marketplace Fees: When buying or selling NFT sneakers on the in-app marketplace, a portion of the transaction fee is paid in GST.
• Earning Rewards: While GST is primarily earned through activity, it can also be staked in certain in-app pools to generate passive income, though this feature has evolved over time.

How to buy GST Coin?

GST is a popular cryptocurrency listed on many exchanges. However, it is recommended to trade on a major platform like BTCC Exchange for higher liquidity and better customer support.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the KYC verification to unlock more features and benefits of the platform.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. You can follow this guide.
3. Start Trading: Go to the trading page and search for the spot trading pair GST/USDT or the perpetual contract GST/USDT.
4. Place an Order: Enter the amount of GST you wish to purchase and submit the order. For contract trading, you can also choose to go short (sell) and adjust the leverage multiplier according to your strategy and risk tolerance.
5. Confirm Your Purchase: For spot purchases, check your personal account to see if the coins have arrived. For contract trades, check the trading page to see if your order was filled successfully.