StepN Protocol Announces $30M Airdrop for Users

StepN, a lifestyle app on Solana blockchain, is conducting a massive airdrop of 100 million FSL points, valued at around $30 million.

The Move-to-Earn lifestyle app StepN, which is built on the Solana blockchain, is currently airdropping 100 million FSL points to its customers.

We estimate the value of these points to be around $30 million.The announcement from April 10th states that you can exchange the FSL points for StepN’s GMT token at a 1:1 ratio.

StepN Launches Airdrop For Users

Additionally, you can use these points in future StepN nonfungible token (NFT) mints and earn exclusive prizes. “We have decided to launch this enormous airdrop campaign as a token of gratitude to our most loyal community members,” said Shiti Manghani, the Chief Executive Officer of StepN, in a statement.”

The first airdrop of this week, for our badge holders, was dedicated to our core players,” StepN said, continuing, “those who are truly playing the hard way.”

“Those who are truly playing the hard way.” For them, we distributed an FSL Points allocation through an airdrop that was determined by the level of difficulty of their in-app achievements.

In order for users to be able to claim the points, they need to register for an FSL ID, which is generated by the developer, who is also responsible for managing the StepN ecosystem.

It is also possible for users to spend their FSL points in the ecosystem’s non-fungible token (NFT) marketplace, Mooar, as well as in the strategic game, Gas Hero.

The 30 million dollar airdrop will continue until the month of April comes to a close. FSL developed the StepN app in 2021, offering users incentives for walking, jogging, or running.

After customers have linked their devices and purchased a virtual Sneaker NFT, they are eligible to receive available rewards. The rewards are distributed in the form of GMT tokens, which contain a mechanism for inflation, a supply cap of $6 billion, and a current market capitalization of $1.57 billion after being diluted.

Players who have gained GMT tokens have the option to spend them to either level up in the game or mint new footwear. Players have the ability to lease or sell their NFT sneakers through the in-app marketplace.

The in-app wallet, which integrates a swap function, stores the proceeds from these transactions. Currently, more than 5 million people use the lifestyle app.