STEPN updates its economic model

STEPN, the Web3 running application, has updated its economic model. Including adjustments to dynamic minting costs, new shoes and gems recycling mechanism.

We take a closer look at the action plan that tries to solve problems the game’s economy is facing.

Cross-chain energy bridge problem

• Each new realm introduced will allow a maximum of 3 energy to be gained through other existing realms
• Each Realm can provide 1 point of energy to another realm as long as it has shoes.
• Each Realm, when opening the first month, receives up to 3 points of total energy from the other Realm, 2 points in the next month, 1 point in the third month, and then stops providing energy.

The (no-exercising) pure mint-and-sell activities

• They intend to give players who actually use the application a chance of obtaining minting scrolls from Mystery Boxes (MB). By reworking the MB system and increasing the qualities of MB from 5 to 10. Even with just a pair of common shoes with 2 energy, a user will still have a chance to get a mystery box.
• We increased the cooling time for minting from 48 to 72 hours and slightly increased the cost of minting, which gives the market more time to integrate the production of new sneakers.

Dynamic minting cost issues.

• Regardless of the GST price, the GST component of the mint will be a constant number and the GMT component will be dynamically adjusted.
• The adjustment rule is: when the GST price gradually increases, the consumption of additional GMT (addGMT) will be required in addition to GST and base GMT (baseGMT).

Recycling mechanism of shoes and gems

• Five pairs of sneakers of the same quality can be synthesized into the next higher quality sneaker.
• Unlike upgrading gems, sneaker synthesis does not fail, but still requires a fee in GST and GMT terms.
• The minimum/maximum attribute value of the new shoes will be increased by 20%.
• The new shoe type (walker/jogger/runner/sportsman) is probabilistically related to the type of the 5 pairs of sneakers used for synthesis.
• You can engrave a short sentence on your new sneaker and it will be immutable.