STEPN WHITEPAPER
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Marketplace
The Marketplace is where users can rent/lease or sell/buy their NFT Sneakers, Badges, and Gems. A simple filter and sort function is available in the Marketplace for easy navigation.
Trade System
User can buy and sell NFT Sneakers, Shoebox and Gems on the in-app Marketplace.
Rental System (Coming Soon)
The main barrier we face to onboarding new users into a Crypto-related game is the complexity of the onboarding process. This starts with creating an Exchange Account, converting fiat to Cryptocurrency and navigating Web 3.0 with a Decentralized Wallet. STEPN aims to breach this barrier by introducing a Rental System.
By offering a smart rent/lease system, getting started is as easy as downloading the app and renting a Sneaker, ensuring that new users will not be deterred from exploring the game.
Users looking to rent can head to the in-app Marketplace. They will need to apply for rental, and after being paired with a leaser, will need to fully agree to the leaser’s rental terms before the rental is approved. Each rental contract lasts for 24 hours, after which the Sneaker will be returned to the owner for repair.
A Rental Agreement can stretch up to 7 days based on a renter’s credit rating. Failure to fulfill the terms stipulated in the Rental Agreement will result in a 1-star deduction from the renter’s credit rating.
Whenever a renter completes a session in the Solo Mode, the Smart Contract will distribute the earnings in accordance with the Rental Agreement. The renter and leaser earnings are fixed (TBD). The system will reward renters with 0.1 credit per successful Rental Agreement fulfilled.
Credit System (Coming Soon)
Renters are required to complete a set of “scholar” quizzes to increase their credit rating. Once their rating reaches 2/5, they can start renting. This process ensures they understand all the fundamentals of the app, preventing renters from underutilising/misusing the app and not yielding any returns (i.e. running on a treadmill, or walking with a runner Sneaker)
Credit Rating is capped at 5/5.
Last modified 19d ago
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