Binance is the world's leading cryptocurrency exchange, is currently raising capital for the 28th new project, which is the STEPN project, an application that encourages everyone to take care of their health and exercise outdoors to earn money. .
In this article, the BTA team will guide everyone to experience and discover interesting functions on the STEPN application.
Brief about STEPN
STEPN is a fitness app (Walking), allowing anyone to own shoes NFT to participate in walking to earn rewards, as well as upgrade or buy, sell, donate, rent NFT shoes.
To learn more about the project, please refer to the article below:
What to prepare before playing STEPN
To start using the STEPN application, you need to have:
- Android or IOS phone, with GPS function and 4G connection.
- 10 Solarium to own 1 pair of NFT shoes (lowest NFT shoe price at the time of writing is about 9 SOL) and about 0.05 as Solana network fee for long-term operation (each processing operation on Solana network costs about 0.000005 Sol)
Instructions to register an account and send money to STEPN wallet
Step 1: Sign up for an account on WORLDTEPN
Visit the homepage https://stepn.com to download the application (supports IOS and Android).
After installation, open the application, enter the email address you want to register, click “Send Code” to receive an email confirmation code. Select the button “Login".
Step 2: Create a SOL . wallet
Step 1: Select the token menu in the upper right corner.
Step 2: Select the Wallet tab next to the Spending tab above to create a wallet or restore Solana personal wallet.
Step 3: Choose "Create New Wallet” to create a new wallet or “Import a Wallet…” to restore Solana wallet if already available.
Step 3: Install personal information on STEPN
After successfully creating a wallet or recovering Solana wallet, select the personal Avatar icon in the top left corner to proceed with basic settings such as: Password, gender, nickname, ...
Step 4: Send SOL to wallet
After the basic installation is complete, you proceed to transfer the previously purchased Solana to the correct wallet address displayed (usually bought at Binance). Do the following:
Step 1: Go to the menu "Wallet", select "Receive".
Step 2: Press the button "Copy Address” or scan QR code to get SOL wallet address on STEPN. Use that address to send the SOL.
Introduction of STEPN application interface
- Home page menu
- Inventory: individual shoe racks in possession, acquired from purchases or transferred from Wallet.
- Leaderboard (under construction)
- Market: trading shoes, gems, ...
- Wallets, divided into 2 types: Spending wallets, internal transactions (Spending) and Wallets connecting transactions with outside (Wallet). Can move back and forth between the 2 wallets. Note, transactions at Wallet always consume 0.000005 SOL per transaction.
- Each NFT shoe has basic attributes and 4 gem slots that increase stats.
Step by step guide to making money with STEPN
After completing operations such as creating an account, transferring SOL to the wallet, now we start making money with the STEPN application.
Step by step do the following:
Step 1: Buy NFT shoes
Step 1: Transfer Solana from Wallet to Spending wallet
Step 2: Go to the ShoeBox selection menu to open random shoes or NFT shoes you want to buy, press the "Buy“. Shoes with the word Mint 3 means you have 4 castings left.(Maximum 7/7 castings). It is recommended to choose shoes with the lowest Mint number possible. Note: Please refer to the shoe types below the article.
Step 2: After deciding on the shoes you want to buy, press “Confirm".
- After completing the confirmation, NFT shoes will appear on the Home Menu and Inventory. After creating an account and buying shoes, you need to wait 24 hours for 100% energy bar. Update 6 time every 1 hours 25%.
- If shoes are transferred from Wallet to Inventory, they will be frozen for 24 hours (cooldown).
- If you own 2 pairs of shoes, you need to wait 48 hours to be able to cast new shoes. Up to 7x and required GST balance required.
Step 2: Start making money with STEPN
To get started, there are a few caveats:
- Refer to a few notes on the Stepn application, the symbol "?” next to the word Set a Goal. Refer to the rules of the game.
- The phone has GPS on, 4G connection and needs to be active outdoors, not obscured by trees, buildings, not on 2-wheelers, cars, or treadmills.
- The original 2 Energy bar, allows walking for about 20 minutes. When the energy bar is depleted to 0, you should press the pause button, then press the Stop button to end the walking session.
- Each NFT shoe has a durability bar of 100/100. At the end of each training session, the durability will decrease by 5. GST points can be used to repair and restore the durability of the shoe.
There are 4 types of shoes: Walker, Jogger, Runner and Trainer. Details of each type are as follows:
- Walker Shoes, when consuming 1 energy will earn 4 GST bonus points. The movement speed requirement to earn the reward is 1-6km/h.
- Jogger shoes, when consuming 1 energy will earn 5 GST reward points. The movement speed requirement to earn the reward is 4-10km/h.
- Runner Shoes, when consuming 1 energy will earn 6 GST reward points. The movement speed requirement to earn the reward is 8-20km/h.
- Trainer Shoes, when consuming 1 energy will earn 4-6 GST reward points. The movement speed requirement to earn the reward is 1-20km/h.
In the home page menu, press the button “Home" to begin.
When the mana bar (lightning bolt) drops to 0, you no longer receive the bonus. You press the pause button and the Stop button to stop the workout.
When you receive GST as a reward, you can upgrade or repair your shoes. You can go to the market, buy gems to attach to your shoes to improve your stats. Or transfer to Wallet to swap. to USDC,GMT or Sol.
Especially, when you upgrade to level 30 and squeeze enough gems, you can earn more rewards for the project's GMT governance token.
- Level Up: Upgrade shoe level
- Repair: Repair and restore shoe durability
- mint: Casting new shoes (Love the level 5 shoes and the Shoe Mint is empty. For example, 3/7 means there are 4 castings left)
- Sell: Selling shoes
- Lease: Lease
- Transfer: Send shoes via Wallet
Review the experience of STEPN
Through the experience of using the application at the time of writing, the team temporarily calculated the following:
- Buy 1 pair of Walker shoes for 8.9 SOL (sol price is $94 X 8,9 = $836).
- Every 24 hours, you can practice 1 session, consume 2 energy, reduce 5 endurance, go for 10 minutes to get up to 8 GST (GST price is 3,46$ X 8 = 27,68$).
- The cost of repairing a pair of shoes that have lost 5 durability is 1,8 GST.(Resilence index per shoe may vary, cost may vary).
Thus, 8 GST – 1,8 GST = 6,2 GST x $3,46 = $21,46 profit. If you don't upgrade your shoes, and you don't take into account 7 item castings if you own 2 pairs of shoes, only the cost of repairing and restoring shoe durability.
Get the above profit every 24 hours, then to recover the capital 836 $ and profit on the shoes. It can be temporarily calculated as follows: 836$ / 21,46$ = about 38 days.
All figures are provisional, of course, as SOL, GST, and NFT shoe prices are always changing. Just as shoe attribute parameters affect reward levels, shoe repair costs can vary.
Hopefully, through the article, BTA has provided you with a perspective, as well as discovered interesting features of the STEPN project application, which is expected to open a new trend in the upcoming cryptocurrency market. next.