STEPN’s Green Metaverse Token on Binance Launchpad – How to Invest in GMT IEO?

By March 1, 2022 No Comments

Green Metaverse Token (GMT) by a Web3 lifestyle app STEPN is the 28th blockchain project to be featured on Binance Launchpad, a platform that lets Binance users participate in an initial exchange offering (IEO) of new tokens with their Binance Coins (BNB). A total of 420 million GMT tokens, at an initial public sale price of 0.01 USD, will be distributed to Binance users.

STEPN is a health and fitness app underpinned by blockchain technology. The sports app is powered by a pair of tokens – Green Metaverse Token (GMT) facilitates governance, while Green Satoshi Token (GST) acts as the platform’s primary game token. The project is built on Solana and features extensive gamification options, which allow users to earn crypto rewards by engaging in various types of physical activity. Additionally, in-app achievements earned in the form of non-fungible tokens (NFTs) can be freely traded in the platform’s own marketplace.

To learn more about STEPN – Green Metaverse Token, check out Binance’s in-depth research report.

Here’s a complete timetable with important dates to keep in mind for the upcoming IEO:

Preparation PeriodMarch 2 (0:00 AM UTC)March 9 (0:00 AM UTC)
Subscription PeriodMarch 9 (06:00 AM UTC)March 9 (09:00 AM UTC)
Calculation PeriodMarch 9 (09:00 AM UTC)March 9 (10:00 AM UTC)
Final Token DistributionMarch 9 (10:00 AM UTC)/

How to invest in the STEPN – Green Metaverse Token (GMT) IEO on Binance Launchpad?

Follow our step-by-step guide to learn how to participate in the STEPN – Green Metaverse Token sale on Binance Launchpad. Keep in mind that in order to participate in the IEO, you will have to hold some BNB in your verified Binance account.

1. Create an account on Binance and complete KYC

In order to participate in the GMT IEO, you need to create an account on Binance. You can skip this step if you are already a registered Binance user.

Once you’ve completed the account registration process and supplied the required KYC information, you can proceed to the Launchpad section, which can be found by navigating to the “Earn” drop-down menu. Here you can find ongoing and past Launchpool and Launchpad projects.

2. Select the STEPN IEO

Locate the STEPN IEO from the list of ongoing and finished Launchpad projects.

3. STEPN IEO requirements and token distribution

Binance allows users to participate in public sales by committing an amount of BNB that will be used to buy new tokens as soon as they are available on the exchange. The amount of BNB a user commits dictates the number of tokens they will receive – the more BNB you commit in proportion to other users, the higher the new token allocation. Keep in mind that the minimum single initial investment can’t be smaller than 0.1 BNB.

In order to ensure that the majority of Binance users have a fair chance at obtaining new tokens, a max cap of token allocation is set per user – this means no user can acquire more than 15,000 USD worth of GMT in the IEO.

Participation in the STEPN – Green Metaverse Token IEO is restricted to residents of the following countries: Belarus, People’s Republic of China, Democratic Republic of Congo, Cuba, Iraq, Iran, North Korea, South Sudan, Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Zimbabwe.

4. STEPN – Green Metaverse Token IEO timeline

The STEPN – Green Metaverse Token IEO will follow a similar timetable as other Launchpad projects that came before it.

Disclaimer: The committed amount of BNB will be locked for the duration of the sale, meaning transfers, withdrawals or other trading functions will be unavailable until the final phase of the sale.

Here’s the full breakdown of the GMT public sale on Binance Launchpad, as explained by Binance:

  • March 2 (00:00 AM UTC) to March 9 (00:00 AM UTC) – Preparation Period: During this period, user BNB balances will be calculated in hourly snapshots for each day over an 8-day period. Your final average daily BNB balance over these 8 days will determine the maximum amount of BNB that you can commit later on.
  • March 9 (06:00 AM UTC) to March 9 (09:00 AM UTC) – Subscription Period: Subscription will open at this time for all eligible users for a 3-hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Please note that once committed, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.
  • March 9 (09:00 AM UTC) to March 9 (10:00 AM UTC) – Calculation Period: Subscription closes and token allocation calculation begins.
  • March 9 (10:00 AM UTC) – Final Token Distribution: Your final token allocation will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. Once deducted, your GMT and BNB tokens will both be transferred to your spot wallet.

5. STEPN step-by-step Launchpad guide

Follow the steps below to participate in the public token sale:

Step 1 – Click the “Commit BNB” button to begin the process of allocating your BNB holdings to the Launchpad program.

Step 2 – Once you’ve entered the amount of BNB you are willing to allocate, click “Commit Now“.

Step 3 – A popup dialog appears where you need to confirm your BNB allocation by again clicking on the “Commit Now” button.

Step 4 – Your BNB has been committed. You can choose to commit additional funds up to your maximum commitment limit displayed at the top of the menu.

6. Past Binance Launchpad projects and final thoughts

The Binance Launchpad program has historically been one of the more lucrative investment vehicles in the cryptocurrency space. Here’s the performance of the five most recent Binance Launchpad projects:

Launchpad ProjectROI (expressed in USD)
Alpine F1 Team Fan Token3.6x
League of Kingdoms12.7x
FC Porto3.1x
Lazio Fan Token3.1x
*Data collected on March 1, 2022, at 11:30 UTC.