A step-by-step guide to STEPN and how you can earn money by walking/jogging/running (move-to-earn)
Is it too good to be true?
Let’s look at how you can create a strategy to earn the most money possible
/THREAD
Is it too good to be true?
Let’s look at how you can create a strategy to earn the most money possible
/THREAD
STEPN is a web3 running app running on @solana.
This appealed a lot to me since I’m pretty obsessed with tracking all my running sessions on Strava.
The concept is simple.
You buy a pair of virtual running shoes, track your walking/running sessions with the app, and earn money
This appealed a lot to me since I’m pretty obsessed with tracking all my running sessions on Strava.
The concept is simple.
You buy a pair of virtual running shoes, track your walking/running sessions with the app, and earn money
Let’s dive into how you set it up.
Step 1) Download @Stepnofficial from App Store/Google Play
Step 2) Enter the access code (you get access codes from Discord/Telegram.
Step 3) Create a new wallet and transfer $SOL to it. Write down your 12-word seedphrase and store it safe.
Step 1) Download @Stepnofficial from App Store/Google Play
Step 2) Enter the access code (you get access codes from Discord/Telegram.
Step 3) Create a new wallet and transfer $SOL to it. Write down your 12-word seedphrase and store it safe.
Step 4) Buy a pair of sneakers
Now, this isn’t an easy choice. We’ll go into more detail about this.
The floor price is currently 12.59 $SOL ($1,272) as you can see below.
Pretty expensive compared to buying real jogging shoes, but luckily you’ll earn money from it.
Now, this isn’t an easy choice. We’ll go into more detail about this.
The floor price is currently 12.59 $SOL ($1,272) as you can see below.
Pretty expensive compared to buying real jogging shoes, but luckily you’ll earn money from it.
5) Shoe strategy:
The different kinds of shoes fit different speed levels, and as you can see you’ll earn more by choosing a running shoe vs. a walker shoe.
The first shoe pair I bought was a running shoe since my intention with trying out Stepn was to run more.
The different kinds of shoes fit different speed levels, and as you can see you’ll earn more by choosing a running shoe vs. a walker shoe.
The first shoe pair I bought was a running shoe since my intention with trying out Stepn was to run more.
However, if I use the runner shoes and my speed is lower than 8 km/hr, I don’t earn money ($GST).
If you want to both walk/jog/run, then the “Trainer” is probably the best choice (floor price 16 $SOL).
If you want to both walk/jog/run, then the “Trainer” is probably the best choice (floor price 16 $SOL).
You could have several pairs of shoes. The more shoes you own, the more you earn.
If you have one pair of shoes you have 2 energy caps. Users can increase their max. energy by holding more shoes.
The calculation is as follows:
If you have one pair of shoes you have 2 energy caps. Users can increase their max. energy by holding more shoes.
The calculation is as follows:
If you hold one pair of shoes, you could only earn money for 10 minutes per day.
You need to add 2 extra shoe pairs (3 in total) to qualify for more energy and more move time (20 min).
Then you need 9 pairs to get to 45 min, etc.
You need to add 2 extra shoe pairs (3 in total) to qualify for more energy and more move time (20 min).
Then you need 9 pairs to get to 45 min, etc.
This means you should have at least 1, 3, or 9 pairs.
You can continue to run even after your Energy has run out, but the earning meter will stop until the next day.
Also, the quality of the shoe is also essential for how much you’ll earn in the game.
You can continue to run even after your Energy has run out, but the earning meter will stop until the next day.
Also, the quality of the shoe is also essential for how much you’ll earn in the game.
As you’ve probably guessed, the higher the shoe quality, the higher the floor price.
Let’s talk about the attributes:
- Efficiency (higher = earn more $GST)
- Luck (higher = receive more mystery boxes)
- Comfort (higher = greater earnings of the governance token, $GMT)
Let’s talk about the attributes:
- Efficiency (higher = earn more $GST)
- Luck (higher = receive more mystery boxes)
- Comfort (higher = greater earnings of the governance token, $GMT)
- Resilience (higher = fewer repairs needed)
IMO, efficiency and resilience are the most important to prioritize.
IMO, efficiency and resilience are the most important to prioritize.
When you play the game, you earn $GST.
In short, the factors which affect GST Earnings are:
1. Total Energy
2. Movement Speed
3. Shoe (Type, Attributes, Quality & Level)
4. Gem (Type, Level & inserted Socket Quality)
5. NFT Badges
In short, the factors which affect GST Earnings are:
1. Total Energy
2. Movement Speed
3. Shoe (Type, Attributes, Quality & Level)
4. Gem (Type, Level & inserted Socket Quality)
5. NFT Badges
So how much do you earn? The formula is shown below.
If you have the cheapest floor price shoe and 2 energy levels, you should earn approx. 5-10 $GST per day. I’m assuming you only have 1 pair of shoes.
At the current price, this is $$23-46 for a 10 min exercise.
If you have the cheapest floor price shoe and 2 energy levels, you should earn approx. 5-10 $GST per day. I’m assuming you only have 1 pair of shoes.
At the current price, this is $$23-46 for a 10 min exercise.
Example:
I just checked the floor price and I took the cheapest shoe I could find.
12.35 $SOL, level 5, runner with 7.3 efficiency.
Let’s look at the numbers if this is the only pair you own.
I just checked the floor price and I took the cheapest shoe I could find.
12.35 $SOL, level 5, runner with 7.3 efficiency.
Let’s look at the numbers if this is the only pair you own.
I used this calculator from Reddit, which you can find here: stepn.guide
For 10 min exercise daily you should earn 6.18 $GST, which is equal to $28,5 at the moment.
Your real earn is 8.7 $GST per day, but you have to spend some on shoe repair.
For 10 min exercise daily you should earn 6.18 $GST, which is equal to $28,5 at the moment.
Your real earn is 8.7 $GST per day, but you have to spend some on shoe repair.
Expenses: 12.35 $SOL x $101 = $1,247
Break-even: $1,247/28,5 = 44 days
The calculation above is not 100% accurate, because as you run more you reach higher levels (if you spend GST on upgrades), and then increase your efficiency and resilience, so you should earn...
Break-even: $1,247/28,5 = 44 days
The calculation above is not 100% accurate, because as you run more you reach higher levels (if you spend GST on upgrades), and then increase your efficiency and resilience, so you should earn...
more as the game moves on.
And if you had 3 pairs of shoes (4 in energy level), you would double your income per day!
See below.
And if you had 3 pairs of shoes (4 in energy level), you would double your income per day!
See below.
Each time you use your shoes, your durability goes lower.
If it’s lower than 50, you earn 10% less. If you only have 10/100 durability left you’ll earn 1/10 of what you usually do.
So keep your shoes in good shape!
If it’s lower than 50, you earn 10% less. If you only have 10/100 durability left you’ll earn 1/10 of what you usually do.
So keep your shoes in good shape!
At level 5 you also unlock the ability to loan out your NFT (a feature that will be rolled out soon). See the rent button on the screenshot below.
Mint a pair of new shoes:
If you have 2 pairs of shoes above level 5 you can mint a new pair. Each shoe pair can...
Mint a pair of new shoes:
If you have 2 pairs of shoes above level 5 you can mint a new pair. Each shoe pair can...
mint new shoes a total of 7 times. Look after this when you buy shoes (try to avoid 7/7).
The price of shoe minting increases every time you do it. The start price is 200 $GST.
A tactic could be to buy 2 pairs immediately, then get both shoes up to level 5.
Then mint the 3rd.
The price of shoe minting increases every time you do it. The start price is 200 $GST.
A tactic could be to buy 2 pairs immediately, then get both shoes up to level 5.
Then mint the 3rd.
What I am doing:
-3 pairs of shoes (energy 4 = 20 min daily).
-1 trainer, 1 runner & 1 jogger (will rent out when that launches)
-Upgrade shoes with more efficiency (to earn more $GST) and resilience (to reduce repair cost)
-Mint more sneakers from those I have
-3 pairs of shoes (energy 4 = 20 min daily).
-1 trainer, 1 runner & 1 jogger (will rent out when that launches)
-Upgrade shoes with more efficiency (to earn more $GST) and resilience (to reduce repair cost)
-Mint more sneakers from those I have
-Sell 30-60% of $GST earnings into $USDC/ $SOL, spend the rest on upgrades
I am honestly not sure if I want to go all the way up to 9 pairs of shoes and beyond.
It’s fun AF now, but somehow the game feels a little too good to be true.
Let’s talk a little bit about tokenomics.
I am honestly not sure if I want to go all the way up to 9 pairs of shoes and beyond.
It’s fun AF now, but somehow the game feels a little too good to be true.
Let’s talk a little bit about tokenomics.
Tokenomics:
$GST is the issuance token and has an unlimited supply.
There’s no value in holding the token and it’s highly inflationary (= it should decrease in price long-term).
You spend $GST on shoe mint, repairs, leveling up, gems upgrade etc.,
$GST is the issuance token and has an unlimited supply.
There’s no value in holding the token and it’s highly inflationary (= it should decrease in price long-term).
You spend $GST on shoe mint, repairs, leveling up, gems upgrade etc.,
Recently they launched a governance token $GMT which can be staked (soon). You can also earn money in $GMT if your shoes are level 30 or higher.
$GST is like $SLP in the game Axie Infinity, while $GMT is like $AXS.
$GST is like $SLP in the game Axie Infinity, while $GMT is like $AXS.
All transactions are taxed approx. 5%. Some of this is paid out to $GMT stakers.
$GMT on the other hand has a max cap of 6 billion tokens.
If you want to earn money from the game you have 3 options:
-Buy shoes (upgrade, earn & play the game)
cont.
$GMT on the other hand has a max cap of 6 billion tokens.
If you want to earn money from the game you have 3 options:
-Buy shoes (upgrade, earn & play the game)
cont.
-Buy $GST (not the best option because of inflationary tokenomics)
-Buy $GMT and stake it (should be a good option as long as the game remains popular)
$GMT token distribution below:
-Buy $GMT and stake it (should be a good option as long as the game remains popular)
$GMT token distribution below:
-If you want to learn more about @stepnofficial I highly recommend this deep dive by @leveredvlad:
fullydistributed.substack.com
-I also enjoyed the daily update on @auronnBE STEPN journey:
fullydistributed.substack.com
-I also enjoyed the daily update on @auronnBE STEPN journey:
Is it a good time to buy shoes now?
I don’t know. The game has grown a lot already.
But if you need the motivation to start exercising more, this game is very fun.
I can highly recommend it from a fitness perspective, and it looks appealing from the earning side too.
I don’t know. The game has grown a lot already.
But if you need the motivation to start exercising more, this game is very fun.
I can highly recommend it from a fitness perspective, and it looks appealing from the earning side too.
But some risks I can see is if the user growth slows down —> fewer shoes bought —> fewer shoes minted —> less $GST burned.
Also, a drawback that lots of people get good shoes is that they earn more = more GST inflation because there is no max cap.
It will be very interesting to see how tokenomics and game theory play out.
It will be very interesting to see how tokenomics and game theory play out.
I know @nateliason will deep dive more into the tokenomics aspect of Stepn, so follow him to see his conclusion to that too.
There are a ton of other mechanisms I didn’t cover in the game, but this deep dive should get you pretty much started.
There are a ton of other mechanisms I didn’t cover in the game, but this deep dive should get you pretty much started.
I just want to end this with some good resources:
- How to maximize your STEPN profits calculator: reddit.com
- 4 useful tools to increase earnings: workitwallet.com
- STEPN Community calculator: stepn.guide
- How to maximize your STEPN profits calculator: reddit.com
- 4 useful tools to increase earnings: workitwallet.com
- STEPN Community calculator: stepn.guide
- STEPN best strategy breakdown: youtube.com
- Stepn whitepaper: whitepaper.stepn.com
- A good Stepn breakdown by @matthewbarby:
- Stepn whitepaper: whitepaper.stepn.com
- A good Stepn breakdown by @matthewbarby:
That was it!
Follow @route2fi for more threads about crypto & DeFi.
I also have a free newsletter you can subscribe to.
I send out one issue every week where the goal is to break down DeFi and crypto concepts in a simple way.
getrevue.co
Follow @route2fi for more threads about crypto & DeFi.
I also have a free newsletter you can subscribe to.
I send out one issue every week where the goal is to break down DeFi and crypto concepts in a simple way.
getrevue.co
If you liked this thread, I would love it if you could open the tweet below and retweet it 😃
Thank you, degens!
Thank you, degens!
Loading suggestions...