Green Satoshi Token (BSC) 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.
Visit CoinMarketCap's educational portal, Alexandria to learn everything you need to know about crypto.
AI Analysis
What is the Green Satoshi Token (BSC) (GST) cryptocurrency good for? What are its main use cases?
The Green Satoshi Token (BSC) (GST) is primarily associated with the STEPN platform, which is a move-to-earn project that incentivizes users to engage in physical activities, such as walking, running, or jogging, by rewarding them with cryptocurrency. Here are some of the main use cases for GST:
Rewards for Physical Activity: GST is used as a reward for users who participate in physical activities while using the STEPN app. Users earn GST for their completed activities, which promotes fitness and healthy lifestyles.
In-App Purchases: Users can use GST within the STEPN ecosystem to purchase various in-app items, such as virtual sneakers, upgrades, and other features that enhance the gaming experience.
Staking: GST may also be staked within the ecosystem, allowing users to earn passive income or additional rewards for locking up their tokens.
Governance: As the ecosystem evolves, GST could play a role in governance, allowing token holders to vote on certain decisions regarding the development and future features of the platform.
Trading and Investment: Like many cryptocurrencies, GST can be traded on various exchanges. Investors can buy and sell GST, hoping to benefit from price fluctuations.
Cross-Platform Integration: Given the growing trend of move-to-earn and health-focused applications, GST could potentially be integrated into other apps that encourage physical activity, enabling a broader usage of the token within a decentralized fitness ecosystem.
Overall, the Green Satoshi Token aims to blend fitness with cryptocurrency, creating a unique model where users are rewarded for their physical efforts while also participating in a growing digital economy.
What blockchain does Green Satoshi Token (BSC) use? Is it its own blockchain or built on top of another?
The Green Satoshi Token (GST) operates on the Binance Smart Chain (BSC). It is built on top of this existing blockchain rather than having its own independent blockchain.
Is Green Satoshi Token (BSC) programmable? Does it support smart contracts or decentralized applications?
Green Satoshi Token (GST) is primarily associated with the STEPN ecosystem, which is a move-to-earn platform. The token itself is built on the Binance Smart Chain (BSC), which does support smart contracts and decentralized applications (dApps).
Since GST operates on the BSC, it can interact with smart contracts on this blockchain. However, the extent to which GST itself is programmable and can be utilized within decentralized applications depends on its specific use case and the functionalities that have been implemented by the developers behind the token. Generally, tokens on BSC are ERC-20 standard tokens, which allows for certain programmability aspects, but it is essential to refer to the official documentation or community resources for specifics in terms of features and use cases related to GST.
To summarize, while Green Satoshi Token is on a blockchain that supports smart contracts, its own programmability and use within dApps depend on the design and implementation by its developers.
How fast are Green Satoshi Token (BSC) transactions? What is the typical confirmation time and throughput (transactions per second)?
Green Satoshi Token (GST) on the Binance Smart Chain (BSC) benefits from the underlying infrastructure of BSC, which is designed for high-speed and low-cost transactions. Generally, transactions on Binance Smart Chain can confirm within a few seconds, typically between 3 to 5 seconds. The throughput for BSC can reach around 60 transactions per second (TPS), but this can vary based on network congestion and other factors.
Keep in mind that these figures can fluctuate, and it's always best to check the latest network metrics for the most current information.
How much data can I store on the Green Satoshi Token (BSC) blockchain? Does it support on-chain data storage?
The Green Satoshi Token (GST) operates on the Binance Smart Chain (BSC), which is primarily designed for transactions and smart contracts rather than as a data storage platform. While you can technically store some data on the blockchain by embedding it in smart contracts, there are limitations to consider:
Storage Costs: Storing data on the blockchain can be expensive because it requires gas fees for transactions. The cost is proportional to the amount of data being stored, making it impractical for large data storage.
Data Size Limits: Each transaction on the BSC has a limit on the amount of data it can include. This is typically measured in bytes, and large amounts of data can quickly become cost-prohibitive.
Best Practices: It is usually recommended to store only essential data on-chain (like hashes or references to off-chain data) while keeping larger datasets off-chain. This allows for more efficient use of the blockchain.
Smart Contract Capability: You can use smart contracts to manage and interact with data but remember that smart contracts also have limitations in terms of execution and storage.
If you are considering using the Green Satoshi Token or the BSC for storing data, it's essential to evaluate what data is necessary to store on-chain versus what can be kept in off-chain databases.
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