Green Satoshi Token (SOL) GST
About
What Is Green Satoshi Token (GST)?
Green Satoshi Token (GST) is the game token of STEPN — a Web 3.0 lifestyle app with in-built fun social elements and gamification design. STEPN is the first move-to-earn NFT game where players earn GST tokens by walking, jogging and running outdoors while wearing NFT Sneakers. GST tokens can also be used to level up and mint new Sneakers, and players can sell/rent their NFT sneakers on the app Marketplace.
Check out our deep dive on STEPN.
The goal of the project is to encourage the world's population to lead a healthy and active lifestyle, as well as to acquaint people with the concept of Web 3.0. The STEPN platform is originally powered by Solana (SOL) and uses a dual-token mechanism where Green Satoshi Token (GST) is the currency in the game and Green Metaverse Token (GMT) is the governance token.
To become a part of the community, a user first downloads the STEPN mobile app, registers an account and creates a wallet. The user then deposits SOL tokens to the built-in STEPN wallet, goes to the in-app Marketplace, buys NFT Sneakers and waits 24 hours for “energy” replenishment (energy is time user workouts, in minutes, the indicator recovers at a rate of 25% every 6 hours).
Who Are the Founders of Green Satoshi Token?
STEPN was established in August 2021 by fintech studio FSL, based in Australia. In September of the same year, the core team was formed, and in October the project won Solana Ignition Hackathon Gaming Track 2021.
Jerry Huang is one of the co-founders of the company with ten years of experience in game development, marketing and testing. Prior to STEPN, Huang also launched several highly rated and downloaded games for iOS App Store.
One more co-founder is Yawn Rong, a talented entrepreneur, crypto investor and blockchain incubator. Rong has a track record of launching small startups and building them into national brands.
Jessica Duan holds the position of CSO in the company. Duan has a qualification in design and architecture, she manages operational strategies, advises senior clients & partners, and evaluates new technologies, market trends, business models and innovations.
Technical Details
How Is the Green Satoshi Token Network Secured?
STEPN, a move2earn mobile NFT game, as well as its utility token — GST, are powered by Solana (SOL).
The security of the Solana network is built on a unique combination of Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms. PoH is the main component of the protocol that processes the bulk of the network's transactions, recording successful operations and time between them, while PoS is used as a monitoring tool for running PoH processes.
More Info
What Makes Green Satoshi Token Unique?
The STEPN team intends to make a breakthrough by incorporating social and community elements into their product, giving fans of an active lifestyle the opportunity to earn cryptocurrency from their passion for running.
STEPN is based on the Move-to-Earn (move2earn or M2E) concept. In 2021, the project participated in the Solana Ignition Hackathon Gaming Track, taking first place and becoming the only mobile NFT game to win the hackathon. STEPN attracted the attention of the judges and received approval due to the game design, user-friendly interface, and built-in tools like Wallet & Marketplace.
How Many Green Satoshi Token (GST) Coins Are There in Circulation?
Green Satoshi Token (GST) is the utility token of the STEPN ecosystem, it’s used as an in-game currency and alternative to experience points. GST is required for repair, upgrade and mint NFT Sneakers. GST can be earned when users move in Solo mode or Background mode.
Players receive Green Satoshi Token (GST) via the STEPN app, tokens are generated in walking / running / walking modes. Investors can also earn GST by renting out their NFTs to platform users or new players.
GST tokens can also be donated to purchase Carbon Removal Credit on the blockchain, supporting the concept of carbon neutrality to combat climate change and contributing to environmental protection.
GST is an inflationary token with no defined maximum supply and with a total supply of 10,000,000 coins distributed as follows:
16.3% to Private Sale;
7% to Binance Launchpad Sale;
14.2% to the Team;
2.5% to Advisors;
30% to the platform's Ecosystem / Treasury;
30% to Move & Earn.
As of April 2022, there are 3,597,242.47 $GST in circulation. Once used, the GST token is automatically burned to reduce the supply. Here are the specific cases where burning (destroying) occurs: shoe-minting, repairing pairs of shoes, leveling up NFT-Sneakers, adding gems / gems upgrade, unlocking new socket, resetting Sneaker attributes.
Where Can You Buy Green Satoshi Token (GST)?
Green Satoshi Token (GST) can be easily obtained through cryptocurrency exchanges such as Huobi Global, Bybit, Raydium, MEXC, PancakeSwap (V2), Serum DEX, Orca, CoinEx, Hoo, AEX, DigiFinex, BingX, Jubi and Hotbit.
Instal the CoinMarketCap mobile app, and track prices of GST, GMT or SOL in real-time.
Check out the top NFT collections by sales volume.
Have a look at our guide to non-fungible tokens.
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AI Analysis
What is the Green Satoshi Token (SOL) (GST) cryptocurrency good for? What are its main use cases?
The Green Satoshi Token (GST) is primarily associated with the STEPN project, which integrates elements of fitness, gaming, and cryptocurrency. Here are the main use cases and features of GST:
In-Game Currency: GST serves as the native in-game currency within the STEPN platform, allowing users to earn tokens by engaging in physical activities such as walking, jogging, or running. Participants can earn GST while using NFTs (shoes) equipped for tracking their movement.
Rewards System: Users earn GST as rewards for their physical activity. The more active a user is, the more GST they can earn, making it a motivation mechanism for fitness.
NFT Utility: GST can be used to upgrade or mint new NFTs. Participants can spend GST to enhance their virtual shoes (NFTs) to improve their performance and increase their earning potential.
Marketplace Transactions: The token can be used within the marketplace to buy, sell, or trade NFTs, including shoes and other in-game assets.
Staking and Governance (Future Potential): Although primarily utilized for rewards and in-game transactions, there may be plans to incorporate staking mechanisms or governance features, where holders can take part in decision-making processes regarding the development of the platform or benefit from staking rewards.
Sustainability Focus: Given the context of the "Green" aspect in its name, the project emphasizes sustainability and aims to encourage healthier habits through eco-friendly practices, potentially aligning with projects that support carbon neutrality or other environmental goals.
Overall, GST provides a balance between encouraging physical activity, integrating elements of gaming and DeFi, and offering real-world rewards in the form of cryptocurrency.
What blockchain does Green Satoshi Token (SOL) use? Is it its own blockchain or built on top of another?
Green Satoshi Token (GST) operates on the Solana blockchain. It is not its own separate blockchain but is built on top of the Solana network, leveraging Solana's high throughput and low transaction fees. GST is primarily used within the STEPN ecosystem, a move-to-earn platform that incentivizes users to engage in physical activities.
Is Green Satoshi Token (SOL) programmable? Does it support smart contracts or decentralized applications?
Green Satoshi Token (GST) is a token associated with the STEPN app, which combines elements of fitness and blockchain. It operates on the Solana blockchain. Solana is known for its high throughput and low transaction costs, and it supports smart contracts and decentralized applications (dApps).
While GST itself is primarily used within the STEPN ecosystem for transactions related to the app, the underlying Solana blockchain allows developers to create and deploy smart contracts and dApps. This means that while GST itself may not be a programmable token like some others, it exists on a platform that does support programming and the creation of new applications.
If you're looking to develop or interact with dApps and smart contracts on Solana, you would typically use the Solana tooling and infrastructure, while GST would primarily function within its specific usage context in the STEPN ecosystem.
How fast are Green Satoshi Token (SOL) transactions? What is the typical confirmation time and throughput (transactions per second)?
Green Satoshi Token (GST), often associated with the Move-to-Earn platform STEPN, operates on the Solana blockchain, which is known for its high transaction speeds and low fees. On the Solana network, transactions typically achieve confirmation times of around 400 milliseconds, although this can vary based on network conditions.
As for throughput, Solana can handle thousands of transactions per second (TPS), with estimates often ranging from 1,000 TPS to over 65,000 TPS under optimal conditions. The exact throughput for the Green Satoshi Token specifically may vary based on network congestion and demand, but it generally benefits from the overall performance of the Solana blockchain.
Keep in mind that these numbers represent typical performance and can fluctuate based on numerous factors, including network activity and the number of active users.
How much data can I store on the Green Satoshi Token (SOL) blockchain? Does it support on-chain data storage?
The Green Satoshi Token (GST) is primarily a token on the Solana blockchain, which is optimized for high throughput and low-latency transactions. Solana does support on-chain data storage, allowing developers to store data directly on the blockchain; however, there are important considerations to keep in mind.
Data Storage Capacity: While there isn't a hard limit on the amount of data that can be stored on the Solana blockchain, it is generally not designed for large-scale data storage like traditional databases. Storing large amounts of data directly on-chain can be expensive and inefficient due to transaction fees and data retrieval times.
Cost: Each transaction that involves data storage incurs fees based on the amount of data being stored and the current network load. Users need to consider whether the cost of storing data on-chain is justifiable for their application.
Use Cases: Solana is better suited for applications that require high-speed transactions and low-latency interactions. If you need to store small amounts of state or metadata for your decentralized applications (dApps), then on-chain data storage can be effective. For larger datasets, traditional off-chain storage solutions (like IPFS or other databases) combined with on-chain references can be more practical.
In summary, while you can store data on the Solana blockchain, including GST-related data, it is not the ideal solution for large-scale storage needs. It's advisable to analyze your specific requirements and consider hybrid approaches to optimize both cost and performance.
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