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-Step entered the market a couple of years ago with a huge bang. Step has signed notable athletes as worldwide fitness ambassadors for the project, and celebrities, including the app’s ambassador Usain Bolt, were going crazy promoting this app on their social media. The project first launched its initial coin offering (ICO) quite recently, and since then, the app has attracted a huge number of users. Step App claims to be the next joint frontier in the metaverse and GameFi markets, representing physical experiences linked to the metaverse. Let’s take a closer look at Step App and its crypto called FITFI and their characteristics.
Step App project based on the Step protocol. It allows users and metaverse avatars to complete fitness missions and PvP (player against player) challenges. Fitness Finance uses a market economy model similar to GameFi, and the governance token, FITFI, is named after it. FITFI allows members to access fitness content while also earning money from the fitness sector.
Step App is accessible to anybody. You do not need to be a runner or a professional athlete to earn; simply download Step App and create a profile. The app is available for iOS and Android devices.
Step App allows you to create an account and download the app to your phone. Once you've logged in, it will passively count your steps and convert each one into a fraction of a token. These tokens are based on Avalanche and exist in a variety of shapes. You can then exchange these tokens for cash or use them to purchase SNEAK NFTs, which may be worth more. The app offers a sophisticated ecosystem that includes numerous chances for fitness, entertainment, and finance.
FITFI (Fitness Finance) is the governance token for the entire Step ecosystem. This token's name is an abbreviation for the company's motto, ‘Fitness Finance.’ To make the software as decentralized as possible, FITFI was distributed evenly among all users during the token generating event. People can use FITFI to take part in community choices. All FITFI holders can vote on any changes to the ecosystem. FITFI can also be used to purchase booster goods within the app. In addition to gaining FITFI by enrolling in the program, you can also purchase it on several cryptocurrency exchanges.
FITFI is a cryptocurrency token based on the Avalanche C-Chain network. The total quantity is 5 billion, with more than 1.33 billion now in circulation. Millions of FITFI tokens were generated during the Step App's debut. 14% was on public sale, while 15% were provided to the crew as remuneration for their efforts. A further 20% of tokens were set aside for staking, liquidity, and incentives, while 30% were allotted to Step App miners. 15% was set aside for marketing, acquisitions, and licenses, with the remaining 6% reserved for partners, advisors, and consultants.
Step project is about a whole ecosystem, and the Step network includes all products that have launched on the Step blockchain's mainnet. One particularly fascinating feature is Step Launchpad, which allows users to stake tokens to promote new firms running on Step. Another useful component of the ecosystem is Step Ex, which allows users to swap their FITFI for popular tokens like USDT and USDC.
SNEAKs, also known as sneakers among Step App users, are a form of NFT available in the game. You can mint these NFTs yourself by staking tokens obtained from various prize boxes, or you can buy them on the market. SNEAKs come with a wide range of styles and boost types. Different trainers can boost your KCAL earning rate, provide bonuses for traveling at specific speeds, or minimize the frequency with which your trainers require maintenance as they wear down over time. You can use KCAL to repair and upgrade them. SNEAKs are also classified into five qualities: Common, Uncommon, Rare, Epic, and Legendary.
There are a total of four types of SNEAKs you can get – Walker, Hiker, Racer, and Coach.
Here's a quick rundown of some common SNEAK attributes:
Each time you level up your SNEAK, stats are randomly added to it. This can be a major advantage if you acquire something nice, but it can also result in your SNEAK appearing a little worn after a while. Fortunately, if you run into this difficulty, Step App lets you reroll your stats. When this happens, your sneaker's attributes are reset to zero and then leveled back up to their current level. Essentially, this means you'll receive a new stat assignment for each level your SNEAK reached. The only drawback is that you must pay in FITFI tokens. Higher-level trainers that have previously been rerolled cost extra to reroll. The lowest fee for a reroll is 0.6 FITFI, however, it can go up to 1,335.1 FITFI.
To help preserve FITFI value, Step App urges users to stake their FITFI tokens. This entails temporarily locking a predetermined quantity of tokens so that they cannot be traded or otherwise used. To enable staking, users simply have to navigate to the Staking page on the Step App website. The website will walk you through the process of connecting your wallet and selecting the amount of FITFI you want to stake. There are presently three pools you may join that allow you to lock your tokens for two, six, or twelve months. If you require your FITFI sooner, you can withdraw them from the pool, but this will result in a 16% penalty.
In essence, Step App is developing a robust ecosystem to make Web3 and blockchain technology available internationally. The App is the entry point to the Step ecosystem, which comprises a variety of items. Step App is the first app established on the Step Network, which is powered by FITFI. Step Network is a blockchain designed for mainstream adoption. Step Network offers geo-location technology, NFT minting, trading features, and other services at a low cost and rapid pace. These functionalities can be quickly implemented by developers, teams, or worldwide brands via Step Network. Moreover, it is obvious that the project is very much alive, launching campaigns and promoting their business. FITFI crypto can be a potentially attractive investment, however, it’s important to remember that it’s about entertainment, and cryptocurrencies in this field tend to be extremely volatile.
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