What is Step App and How Does it Work?

Fitness and blockchain technology are rapidly growing industries, and Step App is at the forefront of their convergence. The global fitness industry was valued at $96.7 billion in 2020 and is witnessing a significant transformation with the incorporation of blockchain technology.

Step App stands out with its Move-to-Earn (M2E) model, which rewards users for achieving fitness milestones. Regarding fitness and blockchain, Step App is one of those innovative applications that come to mind. Available for iOS and Android users, this app harnesses the power of movement, turning physical activity into tokens with real-world value. You simply download the Step App, create an account, and sync it with your phone’s health app. As you go about your day, the app automatically tracks your steps, converting them into tokens that can be traded for cash or spent on in-app purchases

Source: Step App Website

History, Origins, and Key Persons on Step App (FITFI)

Step App made its debut in April 2022. The app has been operating on both its own ecosystem and the Avalanche blockchain since its launch by a group of seasoned professionals from the blockchain industry. At the helm of Step App is CEO Kirill Volgin, previously the CFO of Zerion, a trusted multi-chain wallet for Web 3.0. Backing up Kirill is a team of experts drawn from various successful projects, plus the support of world-renowned sprinter Usain Bolt.

The team and advisors behind Step App are known to the public, which is often considered a positive sign by the community as it allows for due diligence before investing. The team comprises individuals with deep experience in fitness and other industries.

How does FIFTI work?

Within the Step ecosystem as a whole, the FITFI token serves as the governance token. The name of this cryptocurrency is an abbreviation of the company’s motto, which is “Fitness Finance.” At the time of the token generation event, FITFI was divided up fairly among all of the app’s users to make the application as decentralized as is humanly possible. People can have a voice in the decisions that affect their community by using FITFI. Voting rights on any proposed alterations to the ecosystem are open to all FITFI holders.

Additionally, FITFI can be used within the app to purchase various Booster Items. You can acquire FITFI in a number of different ways, including by enrolling in the program itself, but you can also buy it on various cryptocurrency exchanges like Gate.io

KCAL Token

The Step App also introduces KCAL tokens, the internal currency for earnings within the app. As you walk or run using the Step App, you accumulate KCAL tokens which can then be used to mint new SNEAK NFTs. The value of KCAL tokens can go beyond Step’s ecosystem, as they can be exchanged for other tokens like ETH or USDT. It has a circulating supply of 3.9Mil KCAL tokens and a max supply of 60Mil.

Main Features of Step App

Step EX

Step EX is a decentralized exchange (DEX) built for mainstream usage. It is integrated into the Step App. Step EX also integrates with the Step SDK, which allows for rapid development and launch of apps built on Step technology. The exchange’s native token is SPEX, which is distributed through a lockdrop to community members who lock liquidity. The project stands on a secure and tested technical infrastructure, with elements drawn from Avalanche Subnet, Multichain, and Uniswap V2.

StepEx is not like most liquidity mining campaigns because it pays out up to a year’s worth of yield at once. The ticker for StepEx tokens is SPEX. The total supply is 3,000,000,000 SPEX tokens. To participate in the lockdrop, a participant must lock their funds for at least three months.

Step EX Features:

• Deflation: 1% of each SPEX token transfer is deducted, part of which is burned.
• Liquidity Incentives: Part of transaction fees go to SPEX liquidity.
• Governance: DAO can choose to burn or boost staking rewards from a part of transaction fees.

Step Launch

Step Launch is a gateway to the Step ecosystem, offering early access to projects before they become public. The platform requires users to download the Step App from either the Google Play Store or Apple App Store, and then set up a wallet. It uses the FIFTI and KCAL tokens to enable gameplay, which can be acquired through centralized exchanges or on the Step Network DEX. Users can also buy and equip sneakers in the app, which affects their fitness performance and earnings. Step Launchpad also offers staking benefits, including early access to projects and their public rounds. The underlying technology is Step Network, a high-speed, low-cost blockchain focused on mass-scale applications for consumption, lifestyle, and wellness/fitness.

Step Network

The Step Network is a novel blockchain platform focused on integrating lifestyle, fitness, and consumption into the realm of blockchain technology, thus shifting away from the traditional financial focus of most blockchain networks. Built on Avalanche’s code for proven network security and enhanced for faster throughput, it provides a robust and scalable foundation for internet-scale apps. Step Network aims to offer a fast, open ecosystem devoid of algorithmic trading bots that typically congest blockchains, thus enabling more human-centric applications at scale. The platform encourages the development and interaction of brands, developers, and corporations, leveraging its NFT infrastructure, an integrated metaverse, and composable intellectual property to foster inclusivity.

Several projects have been developed on the Step Protocol, including a global music lifestyle brand, a combat sports brand, a wellness app that rewards movement, a block explorer for tracking on-chain data, and a decentralized exchange for the ecosystem. Users can also create and launch their own projects on the Step Network.

To encourage adoption, Step Network provides developer grants and an easy integration process. It also offers incentives for decentralizing the network, including staking rewards, earning from transaction fees, and earning from app fees. The network celebrates human pursuits and promises to be a blockchain that caters to life itself.

Step Scan

Step Scan is the explorer integrated into the Ecosystem.

Step Bridge

Step Bridge is the Tokens Bridge of the ecosystem.

Health Metaverse

Step App has coined the term “Health Metaverse” to describe its platform. It is a place where users can make money, interact with others, play games, and compete using augmented reality on the Step blockchain. The app connects the gamified metaverse with the physical world, transforming fitness into a social activity. Through geo-location technology and non-fungible tokens (NFTs), Step App provides an immersive fitness experience within the metaverse. The platform encourages daily movement and exercises through engaging, sociable, and competitive experiences. But what are those NFTs?

SNEAK NFTs

Step App introduces SNEAKs, a type of NFT that can be minted by staking tokens or purchased on the marketplace. SNEAKs come in different styles and boost types, with various sneakers providing benefits such as increasing the KCAL earn rate, offering bonuses for moving at certain speeds, or reducing the rate at which the sneakers wear out. Users can repair and level up SNEAKs using KCAL. Here’s a detailed breakdown of SNEAK NFTs:

• Variety of Styles and Boosts: SNEAKs come in different styles and provide various boosts. Each pair of sneakers may offer benefits such as increasing the KCAL earn rate, providing bonuses for moving at particular speeds, or decreasing the rate at which the sneakers wear out.
• Four Types of SNEAKs: There are four types of SNEAKs available - Walker, Hiker, Racer, and Coach. Each type is designed for different speeds and activities. For example, the Racer type might be more suited to running, whereas the Hiker type might be ideal for long walks.
• Leveling Up and Repairing: Users can repair and level up their SNEAKs using KCAL, the in-game currency. Leveling up might improve the attributes of the SNEAKs, making them more beneficial for the user.
• Rerolling Stats: When SNEAKs level up, users have the option to reroll the stats, which randomly assigns new attributes to the sneakers. This feature requires payment in FITFI tokens, and the cost increases for higher-level sneakers that have undergone multiple rerolls.
• Quality Categories: SNEAKs are categorized into different qualities ranging from Common to Legendary. The rarer the quality, the better the potential boosts and attributes the SNEAKs may have.
• Staking for SNEAKs: Users can mint SNEAKs by staking tokens. By temporarily locking up a certain amount of tokens, users have the chance to mint SNEAK NFTs.
• Marketplace: SNEAKs can be purchased and traded on the Step App marketplace. Users can buy SNEAKs from other players or sell their own.
• Integration with Physical Activity: The SNEAKs are not just virtual assets; they are integrated with the user’s physical activities. The more a user walks, runs, or exercises, the more benefits they can derive from their SNEAKs in the Health Metaverse.

Stats Reroll

Users can reroll the stats of their SNEAKs each time they level up, randomly assigning new attributes to the sneakers. This requires payment in FITFI tokens, with the cost increasing for higher-level sneakers that have undergone multiple rerolls.

Fitness Quests & PvP Challenges

Users can employ their metaverse avatars to complete fitness quests and participate in Player vs. Player (PvP) challenges. The app’s gamification features allow users to strengthen and improve their avatars by completing fitness challenges. Furthermore, users can engage in competitive matches, enhancing both social and physical capabilities. The platform enables connections on local, regional, or international scales, and rewards users with in-game currency for completing objectives and maintaining physical fitness

Headsets

Headsets in the Step App are a new feature that allows users to earn more within the fitness metaverse. Similar to sneakers in the app, headsets can be equipped to enhance the user’s performance and rewards. When used alongside sneakers, they grant additional chests from runs and boost income. Headsets consume charges based on activity duration and come in various qualities with different attributes like activity, luck, and resistance. They can be leveled up to improve these attributes and can also be used in a minting process for further benefits. In summary, headsets serve as wearable items that enhance user engagement and earnings in the Step App.

Clash Duels

Clash is an electrifying addition to the Step App that lets players battle each other in a fun and competitive setting. Initially, Clash is making its debut on iPhones, and the team is hustling to get it ready for Android phones too.

Now, let’s talk about how Clash works. Imagine being a warrior in a virtual arena. In Clash, this warrior is called a SNEAK. Each SNEAK has a rank, and based on this rank, you are placed in one of four groups - think of them as leagues. If your SNEAK is a newbie (rank 2 to 5), you’re in the Rookie league. As your SNEAK strengthens (rank 6 to 10), you step up to the Challenger League. Next up is the Elite League for ranks 11 to 15, and for the pros (rank 16 and above), there’s the Supreme League.

But wait, you can’t just waltz into these leagues - you need to pay an entry fee using the app’s currency. The cooler part? If you win, you get rewarded with KCAL, another in-game currency. The higher the league, the more KCAL you can earn.

Okay, so how do you win? Your SNEAK has got some skills, called stats. During a Clash battle, one of these stats is secretly chosen as the superhero stat. The trick is, no one knows which one. It’s like a surprise ingredient in a cooking show. Add up all your stats, give the superhero stat some extra oomph, and that’s your final score. If it’s higher than your opponent’s score, you win!

People are head over heels for Clash because it makes their SNEAKs valuable, lets them earn rewards even on lazy days, and is just an all-around blast to play. What’s more, you can spice things up with boosters. Imagine drinking a magic potion that makes your SNEAK stronger or throwing sticky gum at your opponent to slow them down. That’s what boosters do!

Here’s the play-by-play of a Clash battle: You pick a battle room, choose your SNEAK, and if you’re feeling lucky, grab a couple of boosters. Then, it’s game time! Your SNEAK goes head-to-head with another player’s SNEAK. After an epic battle, the scores are tallied, and the winner takes the spoils.

Is FIFTI a Good Investment?

Determining whether FIFTI is a suitable investment for you depends on your individual situation and tolerance for risk. Cryptocurrencies are known for being high-risk assets, and it is recommended that you conduct your own research and assess the amount of risk you are comfortable with before making an investment. It is essential to avoid investing money that you cannot afford to lose.

How can you own FIFTI?

Going through a centralized cryptocurrency exchange is one approach to acquiring FIFTI. The first step is to create a Gate.io account and complete the KYC process. Once you have deposited money into your account, follow the instructions to purchase FIFTI on the spot or futures market.

News on Step App

Here is a summary of Step App’s achievements and features:

• Launch and Community Growth: Step App was launched on December 1, 2022. Before the launch, it had amassed over a million registrants who joined the community in anticipation. Within less than a month of its launch, the app had been downloaded over 115,000 times​​.
• Funding: Step App raised $2,750,000 and had the largest Initial DEX Offering (IDO) on DAO Maker​​.
• FITFI Token: Step App launched its FITFI token, which was listed on six exchanges, including Gate. Within two weeks, FITFI reached over $4.2 billion in trading volume. There are over 55,000 active, unique stakers and a token holder base of over 119,000 active wallets on the Step Network and 63,000 on Avalanche C-Chain​.
• Global User Base: Step App has users from 88 different countries​​.
• Step Launch: Step App developed a launchpad called Step Launch and successfully launched its first project, PRIMAL, on this platform. The IDO hard cap for this launch was reached within minutes of going live​​.
• Features and Updates: Step App has rolled out new features and multiple app updates since its launch. Some of the features include The Stats Reroll for in-game SNEAKs, The Leaderboard, and In-App Purchasing using energy, KCAL.
• KCAL Token: Initially, all in-game actions that required KCAL were fixed. However, Step App changed this so that the price of KCAL would be elastic, meaning the cost of in-game actions moves with the market. This change was made to bring more economic value and gains to KCAL token holders
• Partnerships: Step App forged partnerships with influential names such as Usain Bolt, who became its global brand ambassador. It also partnered with Global Titans, one of the largest boxing events, and the Untold Music Festival, held annually in Romania
• Step App Conference: The company hosted the first edition of the Step App Conference in Tokyo, Japan, on December 1, 2022. The conference included keynote speeches from industry leaders, including Usain Bolt and Kazuto Taguchi. The night closed with performances from global artists​.

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