StepN, a lifestyle app built on the Solana blockchain, is distributing 100 million FSL points, valued at around $30 million, to its users through an airdrop. These FSL points can be exchanged at a 1:1 ratio for StepN’s GMT token and can also be used in upcoming StepN nonfungible token (NFT) releases, as well as for winning exclusive prizes. StepN’s CEO, Shiti Manghani, expressed gratitude towards the app’s loyal community members and stated that the airdrop campaign was launched as a token of appreciation. The first airdrop was dedicated to the app’s core players, who received an allocation of FSL points based on the difficulty level of their in-app achievements.
To claim the points, users need to register for an FSL ID, which is created by the developer responsible for managing the StepN ecosystem. In addition to spending the FSL points in the ecosystem’s NFT marketplace called Mooar and the strategy game Gas Hero, users can also earn rewards for walking, jogging, or running by purchasing a virtual Sneaker NFT and linking it to their smartphones. These rewards are issued in the form of GMT tokens, which have an inflationary mechanism and a supply cap of 6 billion. The current diluted market capitalization of GMT tokens is $1.57 billion. Players can use their GMT tokens to mint new sneakers or level up in the game. They can also lease or sell their NFT sneakers on the in-app marketplace, with their GMT revenues being stored in the in-app wallet, which includes a built-in swap function. The airdrop will continue until the end of April, and StepN currently boasts over 5 million users.
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