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After 1 year of operation, the StepN team has revealed key statistics, such as the total distance traveled by users and the number of registered accounts.
Deployed on Solana, the Web3 StepN project recently announced remarkable statistics on Thursday (September 22) marking an active year. Accordingly, the total distance traveled by StepN users measured by the application is more than 67 million miles (equivalent to 108,017,738 km). The time when the number of users reached an all-time high was June 2, 2022 and a total of 4.72 million registered users.
StepN also earns more 26.8 million USD and 122.5 million USD in the first and second quarters of 2022, respectively.
In the process of hitting big sales over the past year, StepN has struggled to find the right encryption engine balance at certain points. As reported by The Block in April, people who pass level 30 have lost their primary way of recording their tokens, which could cause GST inflation – one of StepN’s tokens if development team did not fix it in time.
Play-to-Earn was hugely successful through Axie Infinity but also saw a significant drop in users after the in-game token depreciated in value due to inflation. StepN similarly saw a drop in its own users in April when the price of GMT, the game’s second currency, dropped by 80%, bringing with it the game’s monthly users from 700,000 to less than 100,000. Therefore, maintaining stable prices for GMT and GST is very important.
However, during the 1-year period of its existence, StepN has implemented ways to regulate the token supply such as through buybacks and burning of tokens to reduce the amount of GMT in July, helping to make the game ecosystem sustainable. more stable.
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