What currency does STPT coin belong to?

STPT coin is an ERC-20 token that operates on the Ethereum blockchain.

Nov 28, 2024 at 11:54 pm

What Currency Does STPT Coin Belong To?

Introduction

STPT coin is the native cryptocurrency of the STEPN move-to-earn app. It is an ERC-20 token, meaning it runs on the Ethereum blockchain. As an ERC-20 token, STPT is compatible with a wide range of Ethereum-based wallets and exchanges.

STPT Coin Use Cases

STPT coin has several use cases within the STEPN ecosystem:

• Minting: Users can mint new STEPN sneakers (NFTs) using STPT. The minting process involves combining two existing sneakers to create a new one with improved attributes.
• Repairing: STPT can be used to repair damaged sneakers. Each repair costs a certain amount of STPT, depending on the severity of the damage.
• Gem Enhancements: STPT can be used to enhance the gems socketed in sneakers. Gems provide various bonuses to sneakers, such as increased earnings or reduced repair costs.
• Governance: STPT holders can participate in the governance of the STEPN DAO. They can vote on proposals that affect the future development of the app.
• Staking: STPT can be staked to earn rewards in the form of GST and GMT tokens. Staking helps secure the STEPN network and provides holders with passive income.

STPT Coin Supply and Distribution

The total supply of STPT is capped at 600 million tokens.

1.1 % was used during the seed round.
2.4 % was used during the private round.
1 % was used during the strategic round
19.5 % are allocated to the STEPN team
20 % are allocated for in-game rewards
33 % are allocated for staking rewards
23 % are allocated for the STEPN ecosystem

STPT Coin Price and Market Performance

The price of STPT has fluctuated significantly since its launch.

• All-Time High (ATH): $ 4.11 on April 28, 2022
• All-Time Low (ATL): $ 0.0133 on January 1, 2023

Factors Influencing STPT Coin Value

Several factors can influence the value of STPT:

• STEPN User Growth: As the number of STEPN users grows, the demand for STPT is likely to increase.
• Game Updates and Features: New updates and features to the STEPN app could increase the utility of STPT and drive its price higher.
• GST and GMT Token Economics: The price of STPT can be affected by the supply and demand of GST and GMT tokens.
• Overall Cryptocurrency Market Conditions: The broader cryptocurrency market conditions, including the price of Bitcoin and other altcoins, can also impact the price of STPT.
• Competition: The emergence of new move-to-earn apps and cryptocurrencies could increase competition for STPT.

Conclusion

STPT coin is an integral part of the STEPN move-to-earn ecosystem. Its various use cases, limited supply, and growing user base suggest that STPT has strong potential for long-term growth. However, as with any cryptocurrency