STEPN Denies Sacking Over 100 Employees; Company is Actively Hiring Instead

Instead of laying off more than 100 contract workers, STEPN is only parting ways with some of its inactive moderators.

Oct 14, 2022
by Akira Ming
STEPN Denies Sacking Over 100 Employees; Company is Actively Hiring Instead
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Here's how the mass layoff rumors came about 

Earlier this week, Wu Blockchain, which cited community sources, reported that STEPN plans to lay off more than 100 moderators (MODs) and ambassadors. 

According to Wu, STEPN's parent company - Find Satoshi Lab - is reportedly reducing investment in the game to focus on new projects, such as the upcoming NFT exchange. Wu even added that a large amount of $GMT SAFT (Simple Agreement for Future Tokens) will be unlocked in March 2023.  

Needless to say, the news came as a surprise to the many community members and investors of STEPN. After all, the company announced a $122.5 million profit from platform fees in Q2 and planned to allocate some of the funds toward branding, expansion, and new partnerships. 

STEPN denies mass layoffs

As the news started to gain media attention, STEPN quickly issued a clarifying statement to Decrypt, claiming that reports of the firm sacking its staff were "baseless" and "factually inaccurate". The firm, instead, has parted ways with some of the volunteer MODs who have been inactive in the past few weeks and months. 

"The reality is that STEPN has parted ways with volunteer MODs who have not been active in the last few weeks and months," said a STEPN spokesperson. "Regarding our staff, STEPN is actively hiring for several different roles within the company."

As of writing, the Career page on STEPN's website is still live, allowing individuals to submit their interest in working for the company. 

Daily active users in STEPN

Based on the data from Dune Analytics, STEPN has more than 6,000 active users in the past 24 hours. However, this is in stark contrast to the numbers from DappRadar, which only shows 1 active user in the last 24 hours. Reason being, DappRadar only tracks the metric based on blockchain transactions without considering dapps' off-chain activities. 

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