decrypt.co
Stepn, a crypto project that lets users earn crypto for running, plans to launch a suite of new features, including an achievement and badge system, “soon.”
The project’s COO Shiti Manghani told Decrypt that if "GMT is at the center of the solar system, we want to add value and capture value back to GMT through all of our products."
The exec said these would include “apps on the demand side that onboard consumers from Web2 to Web3,” adding that Stepn will then serve users' needs, be it providing liquidity for their NFT swaps or even providing them the tools to launch their own projects.
Launched in December 2021, the project rewards users with Green Satoshi Tokens (GST) for doing physical exercise. after selecting one of several types of NFT sneakers.
The project works via its own mobile app and is built on blockchain Solana, and uses a dual-token model: the Stepn governance token called Green Metaverse Token (GMT) and GST.
The state of Stepn
Stepn has been hit with some potential setbacks in the past year.
At its peak in May 2022, the app saw more than 700,000 monthly active users, per data from Dune. Last December, the last month the data tracked, that figure was just under 45,000.
In May 2022, the app blocked its GPS function for users in Mainland China, making it effectively unusable for users in the region, which led both its associated tokens to plummet sharply in the immediate aftermath.
In June 2022, Stepn was also hit with a number of distributed denial-of-service (DDoS) attacks, following three other DDos incidents in the months prior.