STEPN Reveals New Ways to Earn $GMT with the Introduction of Rainbow Sneakers
In a Medium post yesterday, STEPN unveiled how users can earn $GMT tokens even if they don't have a Level 30 Sneaker. Let's dive in!
What are the new ways to earn $GMT in STEPN?
By default, STEPN users can only earn $GMT (Green Metaverse Token) when their NFT sneakers reach level 30. But that's about to change soon as the team will roll out new ways to gain these tokens.
Instead of waiting for the NFT sneaker to reach level 30, you will also receive $GMT if you hold one of the Rainbow Sneakers below. There will be four $GMT reward pools to earn from, namely:
- Classic Pool: All Classic Sneakers are eligible for 20% of the $GMT earnings that day. The higher a Sneaker's Comfort is, the higher its GMT earning efficacy is.
- Rainbow Pool: Available for Rainbow sneaker holders. Eligible for 30% of the $GMT earnings that day.
- Rainbow Plus Pool: Available for Rainbow Plus sneaker holders. Eligible for 50% of the $GMT earnings that day.
- Schadenfreude Pool: Available for Rainbow Infinite sneaker holders. Amount of $GMT earnings yet to be set.
So what's a Rainbow Sneaker?
At this point, you must be wondering what a Rainbow Sneaker is. To sum up, it is a new type of NFT sneaker you can obtain through the 5-in-1 Sneaker Enhancement feature in STEPN.
If you enhance 5 Common sneakers into 1, you will have a chance to get a Rainbow Sneaker. If it's 5 Uncommon sneakers into 1, then there's a chance to get a Rainbow Plus Sneaker. As for the Rainbow Infinite sneakers, the team has not confirmed how users can acquire them.
On top of that, all Rainbow Series Sneakers will be Trainers suitable for a wide range of movement speeds from 1 to 20 km/hr. These sneakers will not have Efficiency, Luck, Comfort, or Resilience attributes. Rather, they will only have 100% HP at the start, reducing as more Energy is consumed. Once its HP is depleted, a Rainbow Series Sneaker will not be usable anymore.
When will these new mechanics come into effect?
Keep in mind that none of the new $GMT earning mechanics above has gone live. STEPN will announce the dates to launch them later in the following sequence:
- Classic Pool Launch.
- Common Sneakers 5-in-1 into Rainbow + Rainbow Pool Launch.
- Uncommon Sneakers 5-in-1 into Rainbow Plus + Rainbow Plus Pool Launch.
- Rainbow Infinite + Schadenfreude Pool Launch.
- Lower level Rainbow Gems minting.
- Higher level Rainbow Gems minting.
In a bid to attract more users, STEPN has added several new features to its app this year. These include the launch of a new realm, $GMT buyback, its own DEX, and more. Only time will tell if these measures can help STEPN to regain its former glory in the move-to-earn space.