АМА session MarsDAO x STEPN
Especially for you, we have collected a short extract from the AMA session on 13/04/2022 between the MARS DAO team and Yawn Rong, one of the founders of STEPN.
- Should you store GMT on Binance/Metamask, or use them for farming on auto compound platforms like Beefy Finance and others, where APY (annual % yield) is 70–80%? On the AUTO.FARM platform, APY exceeds 300%, which is by far the most profitable way to HODL GMT tokens.
- They discussed why STEPN has become so popular in Russia — Yawn believes there is a large crypto community in Russia and many people who are prone to playing outdoor sports, despite the severe weather conditions in the winter.
- Yawn discussed how STEPN sees the collaboration with ASICS as adding value to users — they will use this case to bring in other well-known brands such as NIKE and ADIDAS, which Yawn believes are very suitable for this kind of collaboration.
- Is it possible to give access to an existing account to another user, for example, in a situation where you cannot run on your own, or transfer an account to one of your family members and connect to it periodically from another device to set up, distribute mined tokens, upgrade sneakers, etc., won’t this be considered as multi-accounting and penalized by STEPN? Answer: Only cases where you transfer your NFTs to third parties to take walks/jogs for you will be punished. This is what they are against. STEPN wants to motivate people to be active, not create token mining syndicates. However, if you connect from another device to your account just to set up, upgrade or perform mints, this will not be considered a violation. If STEPN changes its outlook on this in the future, there will be an additional announcement.
- How do you plan to handle situations where GPS signal simulators are used?
Answer: STEPN is constantly working on improving anti-cheating systems, will fight in every possible way and look for solutions to deal with such users. The participants agreed on a separate AMA session for the MarsDAO and STEPN development teams, during which engineers will be able to share their experience on how to deal with cheating scenarios.
- How will the deflationary model in STEPN be organized and keep users from withdrawing value from the project?
Answer: by burning the GMT token, STEPN sets an example for users and, in every possible way, encourages them not to withdraw but to use tokens. Many mechanics have been developed to encourage users to use the GMT token in the gameplay. This will help cope with inflation, increase costs, and have a beneficial effect on the project. STEPN will also maintain a balance between GMT and GST production, which will not contribute to inflation in the project.
- Participants expressed their doubts that the project is at the stage of maturity — STEPN is confident that they are at the beginning of the journey and argues that research data for 2019 shows 400 million active runners in the world. The well-known runner app STRAVA has about 80 million users. If you look at these figures, it becomes clear that STEPN is still at the beginning of its journey, and there is no question of any project’s maturity. In addition, STEPN strives to make its NFT marketplace transparent and open to users far from the crypto world. In addition, the more STEPN users there are, the more NFT sales and purchases will be. Accordingly, they will collect more commissions from NFT sales, and STEPN plans to use these funds in the future to buy back and burn GMT and reward users, encouraging them to continue to use the application actively.
- Why can’t you sell gemstones separately, and now it’s also forbidden to sell sneakers with inserted gems?
Answer: STEPN considers this to be gemstone smuggling and avoids that someone could accidentally sell shoes with stones without noticing it, which will lead to losses. The solution is to sell the stones separately.
- Why is it impossible to mint stones of different types and randomly get a higher level gem?
Answer: STEPN doesn’t want to mix and complicate different game mechanics.
- Will other activities be added to STEPN, such as cycling and others?
Answer: running and walking can be tracked by sensors and code, which is almost impossible in the case of cycling. This will lead to cheating, so no.
- Why not introduce a restriction on the distribution of activation codes, for example, giving codes only to those with a lot of energy?
Answer: Codes were introduced to regulate supply and demand in the game. A large number of users will lead to a reduction in supply and an increase in prices. In addition, the ability to share the code also allows a new user who receives the code to receive game tips from an existing user who is willing to share the code. This is a more critical part of activation codes than the idea of restricting access.
- Will there be further cooperation between MarsDAO and STEPN?
Answer: we are already actively cooperating, confirmed by this AMA session and the possibility of the most profitable type of GMT token farming on the AUTO.FARM compound platform, which is a MarsDAO resource.
- When will the Epic NFT sneakers be released?
Answer: a release is planned before the end of this year. They promise that Epic sneakers will be, in fact, truly epic.
- According to the idea of STEPN, Epic sneakers and branded NFTs have different purposes — Epic sneakers should be more functional and have incredible specifications that allow you to earn a lot, while branded NFTs are more collectable elements of the game. STEPN doesn’t want to mix these parts of the game. Branded NFTs with Epic rarity are most likely not planned. Branded NFTs will most likely be common (gray), while uncommon (green) will look different and refer to Genesis NFTs.
- Will STEPN reward 100 km, 500 km, and 1000 km achievements?
Answer: There will be 10 categories of achievements, distances traveled and effort spent, collections and donations, mints and gems upgrades, social interactions and much more — this will involve the whole spectrum of gameplay, including the locations in which the application is used. These systems are still in development and are scheduled for launch in the third or fourth quarter of 2022.
- How did you feel when you saw the constant increase in the value of GMT after its listing?
Answer: we were in a panic; it was great to see such trade volumes. Of course, we were worried that the volume of trade and the price would fall. But nevertheless, we consider it key to focus not on the cost of the token but the quality of the product on users’ gaming experience. We like that people are happy with the product and vote for our project. At the same time, this is a big responsibility for STEPN, and we understand that we must first make our product better and more sustainable.
- Do you remember the day you realized you were famous and notable?
Answer: I don’t think we’ve become all that great in business. We only feel responsible and continue to work 24/7 without leaving our PCs. We also interact with users in AMA sessions, and that’s how we’ve been spending all of our time for the past seven months. I am sure that everything is still ahead, and much remains achievable. We do not fall into illusions of our greatness but only feel a great responsibility towards our users, and this is a solid foundation on which our project is based. We are far from celebrities, we are developers, and our calling is to make a good product.
- Will changing the walking/running route affect the level and ability to get a higher level Mystery Box?
Answer: usually, people walk/run close to their homes, and it would be difficult for many to change their route constantly. In addition, similar functionality is associated with location services. This would lead to a significant complication of the system and issues related to the security and privacy of user data, and this is exactly what we try to avoid.
- Are you planning any offline events or marathons?
Answer: We do this regularly; we held one in Barcelona a couple of weeks ago, and we plan to hold one in Sydney shortly. We also plan some running events as part of crypto conferences. So, if you see people gathering for runs at crypto conferences, this is most likely STEPN. In the future, we are planning similar events for people far from cryptocurrency to attract this target audience’s attention.
- When will it be possible to allocate points to attributes?
Answer: as we said earlier, we will first open levels 29–30, then a minute of new types of sneakers for GMT, etc. The redistribution of points will most likely be in the second part of the GMT application. We are just getting started and will gradually roll out new GMT application mechanics, planning to release all mechanics before the beginning of the second quarter of this year to be ready to begin work on rental systems and the marathon mode in the third quarter.
- How will the winners of the Rare box, Genesis box and other prizes be determined?
Answer: To make the contest more transparent and fair, all questions posted under the tweet will be passed to Jason, a member of the STEPN team (the guy who hosts all STEPN Twitter sessions). He will determine the most interesting questions within 24 hours and announce the winners on Twitter.
You can watch the entire AMA session here: