Trade GMT/USD
STEPN / US Dollar
GMT is the governance token of STEPN, a move-to-earn fitness app on Solana where users earn crypto rewards for physical activity tracked through GPS-enabled NFT sneakers.
Specifications
About STEPN (GMT/USD)
STEPN launched in late 2021 and reached peak popularity in early 2022, introducing the move-to-earn model that rewarded users with tokens for physically walking, jogging, or running. Users buy NFT sneakers with different attributes, speed, efficiency, luck, and resilience, that determine earning rates and repair costs. GST is the in-game currency earned through movement and used for sneaker repairs, leveling, and minting new sneakers, while GMT is the governance token with a capped supply that governs the STEPN ecosystem and provides premium features. The app operates primarily on Solana but expanded to BNB Chain. At its peak, STEPN attracted millions of users and generated substantial Solana ecosystem fees before the GST hyperinflation inherent in early move-to-earn tokenomics caused a significant price collapse. GMT/USD on StoicFX is a CFD, no GMT tokens are purchased or held on your behalf.
Key Price Drivers
- Active user count and GST burn rate balancing emissions from exercise against consumption
- NFT sneaker floor prices affecting new user entry cost and ecosystem health
- Move-to-earn narrative momentum, media coverage, and app store ranking changes
- Solana network performance, transaction costs, and broader ecosystem sentiment
Peak Trading Hours
Gaming and metaverse token CFDs trade around the clock on StoicFX MT5. Volume follows US and European hours but can spike at any time when game launches, NFT drops, or partnership announcements gain traction.
US and European business hours (13:00-21:00 UTC)
Social media hype cycles and in-game economy changes can trigger sharp moves outside of peak hours. Available on MT5 from Monday 00:00 to Friday 23:59 UTC.
How to Trade GMTUSD on StoicFX
Open an Account
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Fund Your Account
Deposit via bank transfer, card, crypto, or e-wallet.
Find GMTUSD in MT5
Open MetaTrader 5, search for GMTUSD in Market Watch, and add it to your chart.
Place Your Trade
Set your lot size, stop loss, and take profit, then execute your order.
FAQ
What is the difference between GMT and GST in the STEPN ecosystem?
GST is STEPN's in-game utility token with unlimited supply, earned by users through physical activity. It is spent on sneaker repairs, levelups, socket unlocks, and new sneaker minting. GST has no hard cap, meaning its supply expands continuously with user activity. GMT is the governance token with a hard cap of 6 billion tokens, used for premium in-game actions like high-level sneaker upgrades and realm unlocks, and for governance voting. GMT's scarcity contrasts with GST's inflationary nature and gives GMT different long-term supply dynamics.
Why did STEPN's token economics experience a collapse in mid-2022?
STEPN's early success attracted millions of users earning GST through movement. The protocol relied on new user entry and sneaker purchases to absorb the continuously minted GST. When user growth plateaued, the GST emission rate exceeded the rate at which the economy could consume it through repairs and upgrades. GST price collapsed as supply far outpaced demand, reducing the real earnings from physical activity below the cost of sneaker depreciation. This spiral, where declining GST price made activity less profitable, reducing active users, further reducing GST demand, is characteristic of inflationary game token models that depend on continuous user growth.
How does STEPN verify that users are actually exercising rather than simulating movement?
STEPN uses the GPS sensor in users' smartphones to track movement speed and route consistency. The app monitors speed against the sneaker type's optimal range: walking sneakers earn best at walking speeds, and running sneakers earn best at running speeds. Anti-cheating mechanisms detect unnatural movement patterns such as vehicle-speed GPS coordinates inconsistent with running, irregular location jumps, or emulator environments. The system is not perfectly cheat-proof but raises the barrier to passive farming significantly by requiring continuous realistic GPS movement data.
If I trade GMT/USD on StoicFX, do I hold any GMT tokens?
No. GMT/USD on StoicFX is a Contract for Difference. You trade GMT's price against the US dollar without holding any tokens. To participate in STEPN's move-to-earn system, own NFT sneakers, earn through exercise, or vote on governance proposals, you would need actual GMT tokens and a Solana-compatible wallet with the STEPN app.
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CFDs are complex instruments and carry a high risk of rapid capital loss due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.