STEPN’s GMT earning mode is now live, the team behind the Web3 lifestyle app has said. From today (September 28), STEPNers will be able to go into their STEPN app and toggle from GST to GMT earning mode as long as they own Level 30 sneakers.
STEPN’s team tweeted: “To begin, you will need a Level 30 Sneaker. Next, toggle from GST to GMT earning mode within the STEPN App, which can be done on any realm.
“GMT earnings are cumulatively calculated across all realms, so no realm has an inherent advantage.”
How to play ⚡️
To begin, you will need a Level 30 Sneaker. Next, toggle from GST to GMT earning mode within the STEPN App, which can be done on any realm.
GMT earnings are cumulatively calculated across all realms, so no realm has an inherent advantage. [2/7] pic.twitter.com/6HD6JXNKZH
— STEPN | Public Beta Phase V (@Stepnofficial) September 27, 2022
As part of their update, STEPN also discussed the tokenomics behind the move. The total supply of GMT continues to be fixed. This means that the total amount of GMT that can be earned daily will not decrease.
What will happen instead is that GMT emissions will be halved exactly 2 years after the GMT earning commencement date.
Also, the GMT earning rate changes dynamically every minute based on the number of players that are earning GMT at that moment.
What does the STEPN community think about the GMT earning mode update?
As always, the GMT community is vocal about the new update. Several STEPN players tweeted in response to the news to voice their opinions. Most were enthusiastic about the update, believing that the new mode will reward the most loyal players first.
Here is a selection of the more interesting comments we came across.
One Twitter user commended STEPN for locking the GMT earning mode behind Level 30 sneakers. He said: “Being locked behind level 30s means that only actual players will be able to earn. That’s an excellent idea!”
Being locked behind level 30's means that only actual players will be able to earn. That's an excellent idea!
— Agzart Cristian (@agsarcristian54) September 27, 2022
Another user was pumped to keep going when he heard of the update. He said: “I’m close to that level, so I’m gonna work hard to get it.”
Yet another user commended the team for the update, adding: “You have no idea how much I like this implementation of the system. God bless.” In response, Twitter user LoliFinance said: “We all like it, it was something that had to happen sooner or later.”
All in all, the response to the news has been overwhelmingly positive.
we all like it, it was something that had to happen sooner or later
— Muh merge (@LoliFinance) September 27, 2022
STEPN fans are already earning with the new GMT earning mode
While this announcement was only made a few hours ago, keen STEPNers are already checking out the possibilities offered by the new GST earning mode.
YouTuber Qiqapi Games created a walkthrough video of what she achieved during her first GMT Walk. With 5 Energy, the YouTuber earned 5.3 GMT.
A full walkthrough of her process is available below if you’re interested:
How can you benefit from the GMT earning mode?
You can choose to earn GMT or GST in STEPN depending on your goals. You can toggle between the two options as and when you please.
But how do you launch the GMT earning mode? To start, you will need a Level 30 NFT Sneaker. This change is a favorite with players who see it as a way to reward the most loyal STEPN players.
Next, switch the STEPN app to GMT. It’s that simple. You can toggle between GMT and GST earnings as and when you wish.
As with the concept of hash rates in a blockchain network, the GMT earning rate will change each minute based on the number of users who’ve toggled the GMT earning at that point in time.
It’s worth remembering that the more users earning GMT at a given time, the less GMT earning will be available for each player and vice versa.
The team at STEPN added:
“GMT earning is a small step on our roadmap, but hopefully it can be a giant leap for the STEPN community.
“We hope you are as excited as we are for the coming changes!”
What are the STEPN GMT earning sneaker pools?
There will be four pools of GMT-earning sneakers according to STEPN. These four pools will include the Classic Pool which is designed for all existing sneakers, the Rainbow Pool, the Rainbow Pool Plus, and Schadenfreude Pool.
There will also be four generations. Generation 0 will be the Classic Pool. When a Sneaker reaches level 30, it can automatically be used for GMT minting.
All Classic Pool sneakers will be eligible for 20% of the GMT earning that day, with sneakers with higher comfort stats having better GMT earning efficacy. Rainbow and Schaudenfreude pools will earn higher rewards.
What’s the Rainbow Sneaker all about?
The Rainbow Sneaker upgrade mechanisms won’t be available just yet. This function will be launched in the future.
However, STEPN did tease this upgrade in its recent announcement and has previously released information about it.
We know that:
- All Rainbow Series Sneakers will be Trainers, meaning players can develop speeds between 1- 20km/hour while wearing them.
- Rainbow Series Sneakers will not have Efficiency, Luck, Comfort or Resilience attributes.
- Instead, Rainbow Series Sneakers will have 100% HP which will not be restorable.
- This means that once it is depleted the sneaker will be no longer usable.
- In an effort to avoid unnecessary complexity, the Rainbow Series Sneaker will not have a minting function, a level-up function, or a repair function.
More information on Rainbow sneakers and the upcoming upgrades can be found here.
STEPN GMT earning mode: A step in the right direction?
Overall, this new update has been received well by the community and promises lots of opportunities to earn GMT. It also gives players more control over whether they wish to toggle between GMT or GST earning modes, so is sure to become a fan favorite quickly.