Governance & Ecosystem fund

GST Burning

All GST users spent in the app are burned daily from the Spending Account.

Team's Profit

No less than 5% of the Team's profit will be use to support the stability and growth of FSL ecosystem. 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

Ecosystem fund (Treasury)

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): ERC20 TX (GMT mint):

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:

Burning on Solana:

Minting on Ethereum:

Transfer to Binance:

Transfer back to Ecosystem fund:

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:

Minting evidence of ERC-GMT:

Evidence of destroying Minting right on Ethererum Chain:

On 7th December 2023, 100 million SPL-GMT was burned and 100 million Polygon-GMT was minted to provide liquidity to the GMT on Polygon:

On 10th April 2024, 75 million SPL-GMT was sent to the Spending Account to facilitate the possible redemption of FSL Points to GMT. This is part of the annual STEPN event - The Trailblazer. Transaction proof is provided below:

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