Key highlights:
- STEPN is a Move-to-Earn health app that incentivizes users to exercise with crytpo rewards and in-app achievements
- The team behind STEPN aims to raise $4.2 million in the sale of 420 million GMT tokens in the upcoming Binance IEO
- Binance has commenced taking BNB account snapshots on March 2 at 0:00 AM UTC
Leading cryptocurrency exchange Binance has announced Web3 lifestyle app STEPN’s Green Metaverse Token (GMT) as the next project featured on its Launchpad platform. Launchpad participants will be able to commit their BNB to receive a share of 420 million GMT allocated for the initial exchange offering (IEO).
STEPN allows users to earn crypto rewards by performing physical activity
STEPN is one of the first platforms of its kind – the app, underpinned by blockchain technology, allows users to earn digital currency simply by engaging in various types of physical activity. The innovative move-to-earn health and fitness application is built on Solana and uses a dual-token system as well as non-fungible tokens (NFTs) to create an all-in-one crypto sports app.
The team behind STEPN has previously raised $5 million from prominent crypto venture capital firms, including Sequoia Capital, Alameda Research, and Solana Capital, to name a few.
The Green Satoshi Token (GST) is the platform’s primary game token, while the Green Metaverse Token (GMT) fulfills the governance role and can be burned to access exclusive in-app features, such as minting of NFTs and item upgrades. The latter token has a supply of 6 billion coins, out of which approximately 14% have been allocated for the upcoming IEO at a price of $0.01 per token. The team aims to raise $4.2 million in the upcoming Binance sale.
STEPN – Green Metaverse Token on Binance Launchpad – How to Invest in GMT IEO?
Binance will commence the preparation period on March 2 at 00:00 AM UTC. During the 7-day period, Binance will record BNB balances hourly to determine the maximum amount of BNB each participant can commit during the subscription period that commences on March 9 at 06:00 AM UTC. The GMT token distribution will commence later that day at 10:00 AM UTC, once the hour-long calculation period ends.
Projects featured on Binance’s Launchpad platform have historically been one of the most lucrative opportunities for Binance users. Out of the nearly 30 Launchpad projects, virtually all have generated large gains after their Binance debut. Here are the returns of the last five projects that have been featured on the Binance Launchpad platform:
| Launchpad Project | ROI (expressed in USD) |
| Alpine F1 Team Fan Token | 3.6x |
| League of Kingdoms | 12.7x |
| Voxies | 8.4x |
| FC Porto | 3.1x |
| Lazio Fan Token | 3.1x |
