StepN, a move-to-earn lifestyle app operating on the Solana blockchain, has unveiled a substantial airdrop campaign, distributing 100 million FSL points valued at approximately $30 million to its user base.
In an announcement on April 10, StepN revealed that these FSL points can be redeemed at a 1:1 ratio for StepN’s GMT token and will also grant access to upcoming StepN nonfungible token (NFT) mints, offering exclusive prizes. Shiti Manghani, CEO of StepN, expressed gratitude to the community, stating that the massive airdrop serves as a token of appreciation for their loyalty.
🚨 100 Million GMT Airdrop COMPLETED 🚨
Dear Genesis holders, your FSL Points airdrop has been sent! ✨
This second airdrop marks the end of our #STEPNTrailblazer event, and we want to reflect on this traditional yearly airdrop, the third one since 2022.
🏆 Badge Airdrop
The… pic.twitter.com/9jmd1Gyh9n— STEPN | Public Beta Phase VI (@Stepnofficial) April 10, 2024
The first phase of the airdrop targeted Badge Holders, rewarding them based on the complexity of their in-app achievements, acknowledging their dedication to the platform. To claim the points, users need to sign up for an FSL ID, managed by the developer overseeing the StepN ecosystem. Additionally, FSL points can be utilized in the ecosystem’s NFT marketplace, Mooar, and the strategy game, Gas Hero. The airdrop campaign will run until the end of April.
StepN, developed by FSL in 2021, allows users to earn rewards by engaging in physical activities like walking, jogging, or running. After acquiring a virtual Sneaker NFT and linking their smartphones, users can earn rewards in the form of GMT tokens, which have a capped supply of 6 billion and a market capitalization of $562.6 million, according to CoinMarketCap.
The earned GMT tokens can be utilized to mint new sneakers or advance in the game. Additionally, users can lease or sell their NFT sneakers on the in-app marketplace, with GMT revenues stored in the in-app wallet, featuring a built-in swap function. With over 5 million users, StepN continues to foster engagement and incentivize healthy lifestyle choices within its community.
