Stepn

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How does Stepn make money? The creators of the app do not spare funds for the development of the project. Thousands of people are running in the hope of profits, but is it really that easy?

KYC icon
Whitelist icon
Blockchain
icon

Solana

Industry

Fintech

Financial Info

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  • Goal

    $1,200,
  • Min Deposit

    $
  • Time Left

    393 Days
  • Final Date

    01 Jan 2024

85% completed

Holders

  • Founders
  • Ceo
  • Investors

Social Analytics

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Followers Posts Liked (av) Comments (av)
3000 246 56

18% 
(≈15%)

12

5% 
(≈7%)

Funds

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  • Arrington
  • MetaStable

What is Stepn? Stepn is a move to earn crypto app that allows you to earn money through active movement. The project allegedly has its core team, which includes 4 people. Among them are 2 founders – Jerry Huang and Zeway Rong. Also, there are several advisors.

The project  is owned and operated by FINDSATOSHI LAB LTD. The legal entity is  registered in Australia. According to the roadmap, work on this project began on August 10, 2021. Allegedly, it was on this day that the concept of the entire project appeared. A few days later, the development of design and the solution of related issues began.
In September, a team was selected for the project and later conducted the first tests. 

In October, they conducted another test, and started building a community. In November, the app was ready for beta testing and bugs and errors were fixed. In December, they held the first events dedicated to the project, and also rolled out a public beta. At the beginning of 2022, the marketplace function appeared.

How Does Stepn Make Money?

How does Stepn make money? Stepn is a game where you are paid for running or walking. To invest, you need to register in the application using the stepn.com activation code. Account creation process takes place in several stages.

Then you need to connect a cryptocurrency wallet (or create one if it doesn’t exist), buy Stepn tokens on binance.com, then choose and buy sneakers and start running or walking.
There are several types of coins in the project ecosystem: these are SOL, GMT and GST. The first one is the platform's own token and is used to purchase shoes on the site. The second one users can get for their activities – jogging, walking, etc. 

However, it is supposedly possible to switch this coin only at level 30 and above. GST tokens are given for runs from zero to twenty-ninth levels. Thus, you can buy only SOL. After that, you can buy shoes. You can do this in the following way:

Go to the main screen and click on the sneakers icon.

In the list, select the most suitable offer – the purchase or rental of shoes.

Buy sneakers, after which they will appear in the list of available shoes.

Judging by information from open sources, you can sort sneakers by price, date added and other parameters. The price is available only in SOL, but the more expensive the pair, the more you can allegedly earn on it. It is also known that there are different characteristics and types of sneakers. At the time of writing the review, the site offered the following options:

Walker. They have the lowest speed – up to 6 km per hour. That is, you can only move within these limits. Also here is the lowest level of energy, that is, there are restrictions on the duration of activity. For example, you can move no more than 10 minutes.

Jogger. There are speed limits here – no less than 4 kilometers per hour and no more than 20. 5 units of energy are available, and 1 unit is 5 minutes of jogging.

Runner. There is the speed limit – from 8 to 20 km per hour. You are offered 6 units of energy or 30 minutes of jogging.

Trainer. You can move at a speed of at least 1 km per hour and a maximum of 20 km. Energy size is from 4 to 6.25. However, it is known that the faster the user runs, the more he allegedly earns.

There are many nuances. For example, in order to be able to increase the speed of running, you need to buy not two sneakers, but three. But that's not all the pitfalls. All sneakers have their own attributes, namely the following:

Efficiency.The higher the indicator, the more earnings, as it affects the amount of GST for 1 energy.
Comfort. This indicator affects the profitability of GMT per minute. However, supposedly it will be introduced later, while it is in the process of development and is not yet 100% available.

Luck. Similar to many games in different genres in the stepn.com app, players can randomly drop a chest/box with a random pair of sneakers. The higher the luck parameter, the better and more expensive the sneakers will be.

Strength. Sneakers can wear out, but the higher the durability, the slower this happens. In addition, the lower this indicator, the less you can earn. There is also the possibility of repairing sneakers, however, tokens are removed for this, that is, the service is paid.

There are various indicators and characteristics of sneakers.

For the cheapest sneakers, the lowest efficiency is from 10, the earnings are also small – about 2.5 GMT per 1 energy. Strength from 0 to 4 units, wear 4%.

The maximum efficiency of shoes is 89. For such sneakers, earnings are 8.4 units. They are durable and do not seem to wear out.

It is also known that the parameters can be reset to your liking, and then redistributed. However, the more often this is done, the more expensive the price for such a service will be. In addition, the shoes have an indicator of the rarity of the shoes. The rarer the pair, the more expensive it can be sold to other players on the platform, and the more you can earn from it. In total there are several ranks of rarity:

  • Ordinary. For each level they promise 4 points.
  • Unusual. They promise 6 points.
  • Rare. For such sneakers, they allegedly give 8 points.
  • Epic. They promise 10 points.
  • Legendary. The maximum level is 12 points.

In addition, sneakers also have levels. There are 30 of them in total. Upon reaching a certain level, the user opens up new opportunities. For example, at level 5, you can open sneakers, which you can then insert stones into, apparently to add some new characteristics. From level 10, you can rent sneakers for a fee. Also, another slot for the crystal is added. From level 15 one more slot can be added, the following expansions are available from the twentieth level – comfort increases and +1 slot is added. Upon reaching level 30, you can earn GMT tokens.

How Stepn Works?

How Stepn works? Most of the users are trying to earn money by jogging, and they have their own coin accrual system. For players who are in the game up to level 30, GST coins are available. They can be obtained for every minute of movement.

But the specific amount of coins depends on several factors: type of shoes, durability, speed of movement, network signal, GPS and efficiency. On the smartphone screen, parameters such as speed, distance, number of coins earned, number of steps, selected sneakers, path are displayed. Visually, the interface is practically no different from any other applications related to sports.

It is worth noting that there are limits to running, such as the energy that is gradually restored and the durability that can be restored for money. If the shoes are worn out by 51% or more, they do not bring income. In this case, the sneakers can be repaired. You will have to pay for the service with GST coins. However, there are pitfalls here as well. The cost of repairs depends on the type of sneakers and other parameters. There is a whole table with which you can calculate the cost of repairs for 1% wear.

Users can also earn chests with various articles – shoes, crystals and coins. However, chests can also be empty. In addition, the chest itself can only be opened after a certain amount of time. You can also earn through mint. We are talking about creating a box with sneakers, which will require two pairs of shoes.

The move to earn application also has a marathon mode, that is, you can take part in competitions, but you must leave an application for participation a day before the start. As for the distance, options are offered for 2.5, 5 and 7.5 km. Marathons can be either weekly or monthly. You can only take part in one at a time.

In addition, you can supposedly earn money in the background mode. To do this, the application will read information from any smartphone application that is used for regular runs. At least one pair of shoes is required. Tokens will allegedly be credited automatically, and sneakers will not require repair.

To join the stepn.com project, you need to download the application from official sources, such as Google Play and Apple App marketplaces. You can also go to the project site stepn.com, find links to applications, follow them and download. Then you need to register in the application using your email address. After that, verification will follow (a code will be sent to the phone, which must be entered in the appropriate field), then the client can connect his wallets for cryptocurrencies.

After that, the client can deposit the native token of the Solana project, SOL, into the built-in wallet in order to buy NFT sneakers and start running or other activities.

To get tokens, you can use binance com. You will need an activation code to register. The first users received this code for free from the developers, but later the issuance was limited. Now it can be obtained in several ways. First, you can buy it for money. Secondly, you can get the code in project chats, where users can share their keys. Thirdly, you can wait for a new distribution from the developers.
Chats are available in Telegram and Discord. Every day, they allegedly distribute 1,000 codes on each channel. After receiving the code, it must be quickly activated before another chat participant does it. Allegedly, there are too many people who want the codes.
Is Stepn Crypto Legit?
At first glance at the project, it seems that something is wrong with it. To enter the project, you need to buy sneakers. The minimum cost of one pair is on average about 1 thousand dollars. There are no guarantees that you'll make money on Stepn and there cannot be, no one talks about specific percentages and bonuses.

Is Stepn crypto legit? The project has several signs of a financial pyramid. Firstly, users are presented with an overly complex system with many indicators, volumes, parameters and variables. To understand how much you can save or earn, and how Stepn works, you need to compare many tables with the parameters of sneakers, their cost, ranks, levels, and much more. Almost all parameters offer their own comparative tables.

Secondly, there are no documents other than the whitepaper. They also offer a folder with logos and other materials. You can find minimal information about their LightPaper, but there are no details.

By the way, the project has a lot of sites on different domains, but there are no documents anywhere. Only the name of the legal entity allegedly associated with the project is mentioned.

Thirdly, risks are not explained. All investments in one area or another are associated with risks. They may be different, but they will always be, for example, there are risks of network marketing and MLM. In the case of this application, customers are simply offered to play, run and earn. The higher level can be obtained for money, as well as through other means. That is, for those who want to become the first, there is always an option – to pay.

It is worth noting that there are no real goods here – there are virtual shoes and parameters for them, as well as their own marketplace where you can sell shoes, the price for which is set by the creators. That is, there is no real market either, no economic indicators, no links to the stock market, currencies, etc. All in all, it is difficult to say that this project is quite legit. 

Thus, players buy a picture for substantial money, and it is not clear whether they will be able to return the investment. So far, earnings are possible only due to the infusion of new project participants. But what happens when new users stop registering and investing? As long as the creators create hype around the platform, there will be those who wish. 

There are many reviews of the project and they are all different. Most often, users note the complex dynamics and numerous pitfalls associated with the accrual of coins, various nuances with sneakers, prices, and characteristics

Stepn Team