Governance & Ecosystem fund
All GST users spent in the app are burned daily from the Spending Account.
The Platform Fee and Royalty Fee are reserved to the team to sustain its operation, no less than 5% of the Team's profit will be sent to the Ecosystem fund. Following are the Team's Profit on both Solana and BNBChain, which will be taken on daily basis:
Fee on Solana: Ffbor3Zx46oGPK59S7drZjcTSt8mygZGWc5qkcHLPtWV
Fee on BNBChain: 0xb7D0749a64345552Ef01fF54D6864202215A09a1
Fee on Ethereum: 0xb7D0749a64345552Ef01fF54D6864202215A09a1
The other taxes collected by STEPN will be funneled into a Treasury pool, which will be up to the GMT staker to decide:
Voting Option | Profit Distribution | Consequence |
Generous Giver | 70% Carbon Offsetting, 30% dividend | Reward voters’ GMT |
Kind Giver | 55% Carbon Offsetting, 45% dividend | Reward voters’ GMT |
Matcher | 40% Carbon Offsetting, 60% dividend | NA |
Greedy Taker | 25% Carbon Offsetting, 75% dividend | Burn voters’ GMT |
Selfish Taker | 10% Carbon Offsetting, 90% dividend | Burn voters’ GMT |
By locking the staked GMT, users will get higher voting power:
Locking Period | Weight |
1 month | 1 |
3 months | 4 |
6 months | 8 |
1 year | 16 |
2 years | 32 |
3 years | 64 |
Every month, 0.3% of the total supply will be unlocked, which equals to 18,000,000 GMT. These GMT will be used to support building STEPN's global ecosystem. Unspent GMT will be held in the STEPN treasury.
Treasury address: stepnnmTZcdZQ6HDqUVoU6KcYP8kBAHKzyj2jpiiwaH
On 6th July 2022, 50,000,000 SPL-GMT from the Ecosystem fund are burned and 50,000,000 ERC20-GMT are minted to serve as the liquidity bridge between SPL/BEP GMT and ERC20-GMT.
SPL TX (GMT burn): https://solscan.io/tx/vwNRM9nPMXKyJhK2VifCExaNPRcPDFPcz4biKQiJ7FgqgvGJZM69SbmLsLTU5eu8K3uhwQVfMjXJe51kJGMrzcF
ERC20 TX (GMT mint): https://etherscan.io/tx/0x1e8443480619c03fa9a3274042ae15cf8fa353d5fa101e8fd0ac148e2ab8271d
https://etherscan.io/tx/0xba78f5fcee6eaf48e25a5c87d62ca1d7603d27ef1ae065375741a7fdf7e19244
Following is the Trade Fee holding address from DOOAR. The address will convert the fee into stablecoins for future ecosystem efforts:
ERC-20: 0x08b60476688D222473eaf360Da63d9627e73054C
On 7th Dec 2022, 50,000,000 SPL-GMT from the Ecosystem fund are burned and 50,000,000 ERC20-GMT are minted to deposit to Binance, a withdraw of 50,000,000 SPL-GMT is issued and sent back to the STEPN Ecosystem fund address:
Transfer back to Ecosystem fund: https://solscan.io/tx/AjhDvjvFKQC4EBkbbAHod9t5RYbNggzAiSD7AHLfs6XxqYARzLN4FcigVzMNiY34TbW1tQyegUquqkkXQx4y2XF
Marketing expenditure: 3.6 million GMT will be used for marketing expenditure monthly from the monthly vested Ecosystem Fund.
Last modified 1mo ago