TLDR
GMT is the governance and utility token powering the FSL ecosystem, primarily known for STEPN's move-to-earn mechanics and expanding into Web3 lifestyle services.
Move-to-Earn Foundation – Rewards physical activity via STEPN, a fitness app converting steps into crypto earnings.
Fixed Supply Governance – 6 billion max supply with burns and voting rights for holders.
Ecosystem Expansion – Powers GMT Pay (crypto-to-fiat payments) and NFT perks across FSL’s apps.
Deep Dive
1. Purpose & Value Proposition
GMT incentivizes real-world activity through STEPN, where users earn tokens by walking, jogging, or running with NFT sneakers. This “gamified fitness” model bridges health goals with crypto rewards. Beyond STEPN, GMT now fuels GMT Pay (FSL Ecosystem)—a service converting crypto into prepaid Mastercards—and grants discounts for NFT holders, expanding utility beyond exercise.
2. Tokenomics & Governance
With a fixed supply of 6 billion, GMT’s allocation includes:
- 30% for user rewards (move-to-earn incentives)
- 30% ecosystem/treasury (funding development)
- 16.3% private sale (early backers)
Token burns occur via STEPN sneaker upgrades and GMT Pay transactions, creating deflationary pressure. Holders also vote on proposals like fee structures via the GMT DAO.
3. Ecosystem Fundamentals
FSL integrates GMT into:
- STEPN GO: A social fitness app with challenges and NFT sneaker drops.
- GMT Pay: Spend crypto via virtual cards (supports SOL, ETH, BNB Chain).
- MOOAR: NFT marketplace for trading sneakers and accessories.
Partnerships with adidas, Pantone, and Argentina’s football association enhance real-world relevance.
Conclusion
GMT anchors a Web3 ecosystem blending fitness, payments, and community governance. As FSL diversifies its use cases, how might GMT balance its dual role as a reward token and a governance instrument?
