STEPN will airdrop GMT token rewards worth US$30 million to users

ChainCatcher news, according to The Block, STEPN will airdrop GMT token rewards with a total value of $30 million to users.

It is reported that Stepn is distributing 100 million "FSL" points to users, which can be "one-to-one exchange for GMT tokens" through the Stepn market. The GMT token is currently trading at approximately $0.30, so Stepn’s points distribution is worth approximately $30 million.

Stepn CEO Shiti Manghani said this year’s airdrop is the largest ever. He also said that the airdrop target includes users who hold its NFT and Genesis holders.

Although the airdrop has begun, Stepn has not previously announced the scale of the distribution. The next phase of the airdrop will begin on Wednesday, the company said.

Stepn said FSL points also increase users’ chances of winning exclusive prizes.