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:
By locking the staked GMT, users will get higher voting power:
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:
Marketing expenditure: 3.6 million GMT will be used for marketing expenditure monthly from the monthly vested Ecosystem Fund.
On 17th June 2023, 3.085 billion SPL-GMT were burned on Solana Chain and minted on Ethereum Chain.
The GMT Mint Rights on Ethereum Chain were burned afterwards. The ERC-GMT were moved to a multi-signature address for monthly distribution. The 3.085 billion SPL-GMT comprises of the remaining GMT balance of Investor, Advisor, Team and Ecosystem Fund. Burning evidence of SPL-GMT: https://solscan.io/tx/tvmkLbqqM9z1qHrgr75fp3Z8nWSq2YXcn7jXSr1wd2Vmq2L72QF3bAUrkiojfZvfrsdHehhMR8BFaMR7thG3Joy https://solscan.io/tx/5kW6W3htaH9Zggxz5JoVPGft8VJepVX3LUaqbZgfiZmmb96XZN9zhggu8o5Hk7rJtT56PCwwZbtPScuU7GGgrZZQ Minting evidence of ERC-GMT: https://etherscan.io/tx/0xf9b9b5f80bd01712244f767505997ccc9a8d479c5908454ce0ba8b5a79c679a8 https://etherscan.io/tx/0xd0d540fa757a09b12a8955edf1cce41134beced65259342cfdf1d4e7f0399bdf Evidence of destroying Minting right on Ethererum Chain: https://etherscan.io/tx/0x9119f936b2e8442fd23c6d194eaca031708f620c89b8cfbd478a8177015f0429