Question
Provide a concise narrative that clearly states each of (a)–(e) below.
Response
STEPN is a Web3 lifestyle app that uses game and social elements to reward users for moving outdoors. Users equip NFT Sneakers and walk, jog or run to earn GST and GMT, which turns everyday exercise into a rewarded activity. The project placed 4th out of more than 500 entries at the Solana Ignition Hackathon in 2021.
(Source: STEPN Whitepaper Overview, Binance Research)
STEPN funds ongoing development and operations from an Ecosystem and Treasury allocation that unlocks 0.3% of total GMT supply, or 18,000,000 GMT, each month, with unspent GMT held in the STEPN treasury. The team commits no less than 5% of its profit to the stability and growth of the Find Satoshi Lab ecosystem. DOOAR swap fees also route 0.1% of each trade to future development.
(Source: Governance & Ecosystem Fund, )
Users hold NFT Sneakers in the STEPN app and earn GST, the in-game token with unlimited supply, and GMT, the governance token, when they move outdoors. GPS and movement data verify each session before tokens are issued. The app includes a marketplace, a wallet and the DOOAR swap, and Find Satoshi Lab Limited, a British Virgin Islands company, operates the service.
GMT is the governance token of STEPN with a hard cap of 6,000,000,000 tokens. Users earn it with Rainbow Sneakers or level-30 Classic Sneakers, spend it in the STEPN Marketplace and MOOAR, and burn it for in-app upgrades. Holders stake GMT for voting power, and a longer lock gives more voting power.
(Source: Tokenomic, GMT Vesting & Utility, Binance Research)
Find Satoshi Lab Limited holds the main control surface. The Terms of Use let the company amend the Terms, withdraw or amend Services without notice, change the token accumulation rate, reverse benefits granted by mistake or misuse, and suspend or cancel access. The company also runs a machine-learning anti-cheating system on location and movement data. Governance is evolving through the GMT DAO, an independent organization of GMT holders, which ran its first lock-to-vote burn vote from November 2024 to January 20, 2025.
Question
For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the: (a) full names, (b) official titles, (c) and prior experience of key team members. For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.
Response
Full Name | Entity | Official Title | Prior Experience |
|---|---|---|---|
Jerry Huang | Labs/DevCo | Co-Founder (Binance Research) | Game developer and former founder of Falafel Games who co-founded STEPN in August 2021 (Metaschool). |
Yawn Rong | Labs/DevCo | Co-Founder (Binance Research) | Australian blockchain entrepreneur who founded Crypto SA, served as an Algorand ambassador and represented industry at the South Australian Blockchain Association (Metaschool). |
Shiti Manghani | Labs/DevCo | Chief Executive Officer of Find Satoshi Lab since January 2024, previously Chief Operating Officer (Bitget News) | Electronics engineer with an MBA in Marketing and 14 years of managing multi-million-pound projects across 11 countries, who founded an AI computer-vision startup for posture correction before joining Find Satoshi Lab (Startups Magazine, Blockchain Gamer). |
Jessica Duan | Labs/DevCo | Chief Strategy Officer (Binance Research) | Executive with a design background and expertise in operations and strategy (Binance Research). |
No STEPN foundation exists. The Terms of Use state that STEPN was launched by FindSatoshi Lab Limited, and neither the Terms nor the Data Protection Notice names a foundation (STEPN Terms of Use, Data Protection Notice). | Foundation | No foundation officer titles exist because no foundation has been formed. | No foundation officers exist, so there is no prior experience to report. |
The GMT DAO is an independent organization of GMT holders, and the reviewed sources name no individual DAO leaders (Decrypt, GMT DAO Burn). | DAO/Onchain Governance | The GMT DAO has no named officeholders or council titles in the reviewed sources (Decrypt, GMT DAO Burn). | No DAO officeholders are named, so there is no prior experience to report. |
Question
Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so. Address the lettered items below. Even if there is no DAO, there must be an answer to (d).
Response
The GMT DAO owns or controls no disclosed IP. The Terms of Use state that all intellectual property in the app and Services remains with Find Satoshi Lab Limited or its licensors, and no license to the DAO appears in the Terms, the whitepaper or the DAO launch coverage.
(Source: STEPN Terms of Use, Decrypt, GMT DAO Burn)
The GMT DAO decides by lock-to-vote. Holders locked GMT on burngmt.com to vote on burning up to 600 million GMT, with results recorded onchain, and Find Satoshi Lab confirmed on January 20, 2025 that 60 million GMT would be burned. Token administration sits with Find Satoshi Lab rather than the DAO. After June 17, 2023 the Ethereum mint rights were burned and ERC-GMT moved to a multi-signature address for monthly distribution, and the whitepaper does not disclose that address's signers or threshold. Find Satoshi Lab minted 70,000,000 POL-GMT on July 5, 2024 and minted GMT on Polygon as recently as February 13, 2025, when it minted 709,504,827 pGMT. The Verilog audit found that the owner of the BNB Chain GreenSatoshiToken contract can mint unlimited GST.
(Source: Decrypt, GMT DAO Burn, FSL on X, Burn Result, Governance & Ecosystem Fund, Verilog Audit, HackMD)
Holders lock GMT to gain voting power, and a longer lock gives more voting power. Stakers vote on how staking rewards are distributed. In the 2024 to 2025 burn vote, locked GMT decided how much of the up-to-600-million-GMT burn went ahead and earned a share of 100 million GMT in milestone-based rewards, distributed after the 60-day voting period. Holders cannot decide app parameters, token accumulation rates, which the Terms reserve to Find Satoshi Lab.
(Source: Binance Research, Decrypt, GMT DAO Burn, STEPN Terms of Use)
GMT holders have no right to revenue distribution or treasury assets. DOOAR charges a 1% swap fee, and the 0.6% sent to an ecosystem address may be used for GMT buyback and burn, sneaker buyback and burn, events and giveaways. Holders do not direct this flow, and their only treasury-related right so far was the 2024 to 2025 vote on burning up to 600 million GMT, which ended with 60 million GMT confirmed for burning.
(Source: Decentralized Exchange, Decrypt, GMT DAO Burn, FSL on X, Burn Result)
No party holds a disclosed authority to dissolve the GMT DAO, and the DAO has no disclosed legal wrapper or dissolution vote threshold. The Terms of Use, the whitepaper governance page and the DAO launch coverage were reviewed and none sets out a wind-down mechanism.
(Source: STEPN Terms of Use, Governance & Ecosystem Fund, Decrypt, GMT DAO Burn)
Question
For the Primary Foundation do the following independently. If an entity does not exist, state that explicitly. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist.
Definitions: The primary Foundation and DevCo can be explained as those entities which are directly involved in the issuance of the native token at launch.
Response
No primary foundation exists for STEPN or GMT. The Terms of Use state that STEPN was launched by FindSatoshi Lab Limited, and the Data Protection Notice describes it as a BVI Business Company incorporated in the British Virgin Islands. (Source: STEPN Terms of Use, Data Protection Notice)
No primary foundation exists, so no foundation owns or controls STEPN IP and no foundation subsidiaries exist. The Terms of Use state that STEPN was launched by FindSatoshi Lab Limited. (Source: STEPN Terms of Use, Data Protection Notice)
No primary foundation exists, so no foundation holds power over the GMT DAO, the treasury, protocol-controlled resources or token administration. (Source: STEPN Terms of Use, Data Protection Notice)
No primary foundation exists, so no foundation can exert direct or indirect influence over Find Satoshi Lab Limited. (Source: STEPN Terms of Use, Data Protection Notice)
No primary foundation exists, so no foundation holds pause, upgrade or governance-executor authority over any GMT contract. (Source: STEPN Terms of Use, Data Protection Notice)
No primary foundation exists, so no mechanism directs protocol-controlled resources, treasury assets, fees, revenue, rewards or token distributions to a foundation, its equityholders or its contributors. (Source: STEPN Terms of Use, Data Protection Notice)
Question
For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist.
Definitions: The primary Foundation and DevCo can be explained as those entities which are directly involved in the issuance of the native token at launch.
Response
Find Satoshi Lab Limited is a BVI Business Company incorporated in the British Virgin Islands, with its registered address c/o CCS Trustees Limited, Mandar House, 3rd Floor, Johnson's Ghut, Tortola. The Terms of Use set British Virgin Islands law as governing law. The Privacy Policy lists headquarters in the British Virgin Islands and also cites the Australian Privacy Act 1988 (Cth) and the Australian AML/CTF Act 2006 (Cth).
(Source: Data Protection Notice, STEPN Terms of Use, Privacy Policy)
Find Satoshi Lab Limited or its licensors own all intellectual property in the app and Services. Find Satoshi Lab is the parent of the STEPN, Gas Hero, MOOAR and DOOAR products. The Terms, Data Protection Notice and Privacy Policy disclose no subsidiary legal entities.
(Source: STEPN Terms of Use, Bitget News, Manghani CEO, Data Protection Notice, Privacy Policy)
Find Satoshi Lab can change the token accumulation rate, reverse benefits and suspend access at its own discretion under the Terms. It controls the Ecosystem and Treasury allocation, releasing 18,000,000 GMT each month and holding unspent GMT in treasury addresses on Solana, Ethereum and Polygon. It moved the remaining 3.085 billion GMT of Investor, Advisor, Team and Ecosystem balances to a multi-signature address on Ethereum in June 2023 and runs cross-chain mint and burn operations for exchange liquidity. It set the GMT earnings halving that began on January 1, 2026. The whitepaper does not disclose the multisig threshold for any of these actions.
(Source: STEPN Terms of Use, Governance & Ecosystem Fund, GMT Earning Advanced, STEPN on X, Halving)
No foundation exists, so Find Satoshi Lab has no powers over one. The Terms state that STEPN was launched by FindSatoshi Lab Limited, and neither the Terms nor the Data Protection Notice names a foundation.
(Source: STEPN Terms of Use, Data Protection Notice)
The Verilog audit of the BNB Chain contracts dated April 4, 2022 found that the owner of GreenSatoshiToken.sol can mint unlimited GST and that the owner of STEPNNFT.sol can mint NFTs and change the base URI, and it recommended a multisig. The team replied that unlimited GST supply is intentional. Find Satoshi Lab burned the Ethereum GMT mint rights in June 2023 and later minted GMT on Polygon in July 2024 and February 2025. The Terms let the company amend the Terms and withdraw or amend Services without notice. The whitepaper and audit disclose no pause or upgrade role threshold.
(Source: Verilog Audit, HackMD, Governance & Ecosystem Fund, STEPN Terms of Use)
The Team allocation of 14.2% of supply, or 852,000,000 GMT, is subject to a vesting schedule. No less than 5% of team profit goes back to the ecosystem, and 18,000,000 GMT unlocks monthly from the Ecosystem and Treasury fund. DOOAR's 1% swap fee sends 0.3% to liquidity providers, 0.6% to an ecosystem address that may be used for buybacks, burns, events and giveaways and 0.1% to future development, and the DOOAR trade-fee address converts fees into stablecoins for ecosystem use.
(Source: Binance Research, ICO Drops, Governance & Ecosystem Fund, Decentralized Exchange)
Question
Disclose launch and initial supply details in a single initial allocation schedule covering the token's launch.
Response
The full 6,000,000,000 GMT was minted on March 9, 2022. Circulating supply at the Binance listing was 600,000,000 GMT, or 10% of total supply, and the remaining 5,400,000,000 GMT was locked under vesting schedules.
(Source: GMT Vesting & Utility, Binance Research)
(Source: Binance Research, ICO Drops, GMT Vesting & Utility, Governance & Ecosystem Fund)
The Binance Launchpad sale set a fixed price of 0.01 USD per GMT, or 0.00002514 BNB, on March 9, 2022. The earlier private sale priced GMT at about $0.005.
(Source: Binance Launchpad Completion, Binance Research)
GMT (Green Metaverse Token).
(Source: Tokenomic, Binance Research)
GMT has a fixed hard cap of 6,000,000,000 tokens, all minted at TGE. No inflation exists, and the regime is deflationary because GMT is burned for in-app upgrades and through DAO-approved burns such as the 60 million GMT confirmed on January 20, 2025, and DOOAR's 0.6% ecosystem fee share may be used for GMT buyback and burn. The GMT earnings halving that began on January 1, 2026 slows how fast the Move and Earn pool is released. Tokenomist reports 3,111,400,155 GMT unlocked, or 51.86% of supply, as of September 28, 2026.
(Source: Tokenomic, GMT Vesting & Utility, GMT Earning Advanced, FSL on X, Burn Result, Decentralized Exchange, Tokenomist)
(Source: Dropstab Vesting, ICO Drops, Governance & Ecosystem Fund, GMT Earning Advanced)
Question
Address each of the following sub-items based on the project's airdrop status. If a sub-item does not apply to the project's situation, state that explicitly.
Response
Planned but not yet executed airdrop
Not applicable. STEPN announced its GMT airdrop under the New Horizon Initiative in February 2023, with a snapshot on February 12, 2023, so it is treated as a past airdrop rather than a pending plan.
(Source: Decrypt, New Horizon Airdrop)
Executed airdrop
STEPN announced that the New Horizon airdrop would cover holders of Genesis Sneakers in the Solana realm (G1 to G10,000) and the Ethereum realm (G16,000 to G17,000) at the snapshot on February 12, 2023 at 00:00 UTC. Each sneaker had to sit in the holder's spending account and not be listed for sale. Binance Square reported that GMT would be distributed in the next few days after the snapshot, and no fetched source confirms completion of the distribution. Allocation was a fixed amount per sneaker by rarity, with 4,000 GMT for Common, 8,000 GMT for Uncommon, 16,000 GMT for Rare and 32,000 GMT for Epic sneakers. STEPN has not published a per-address source such as a CSV, Merkle dump, Dune dashboard or claim endpoint for the airdrop. The Decrypt, Binance Square and Coinlive coverage and the whitepaper transparency log were reviewed, and none links a recipient list.
(Source: Decrypt, New Horizon Airdrop, , , )
Question
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. For each market maker, include in a table:
If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for this item.
Response
No market-maker agreement or deal is publicly disclosed for GMT, and no native tokens are disclosed as loaned or allocated to a market maker. The whitepaper transparency log, the Binance Research project page and the Binance Launchpad announcements were reviewed, and they record treasury, liquidity and burn operations but name no market maker. The exchange liquidity operations are covered in Section 9.
(Source: Governance & Ecosystem Fund, Binance Research, Binance Launchpad Announcement)
Question
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:
If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.
Response
The Binance Launchpad sale is the only disclosed listing arrangement. The other rows record liquidity operations that Find Satoshi Lab logged in the whitepaper, and none of them has a disclosed lockup or incentive term.
Question
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:
If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").
Response
(Source: The Block, Binance Research, ICO Drops, Dropstab Vesting, Binance Launchpad Announcement, Binance Launchpad Completion)
Question
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself.
If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
Response
No exploits affecting tokenholders or protocol funds have been publicly reported as of 2026-09-28. The review covered the Verilog audit, the whitepaper security and transparency pages, and news coverage of STEPN service incidents. The DDoS attacks of April, May and June 2022 disrupted the app servers and were not attacks on the GMT token contracts, so they fall outside this item.
(Source: Verilog Audit, HackMD, Security, Decrypt, DDoS Attacks)
Not applicable. No exploit vector affecting GMT is on the public record. The June 4, 2022 incident was a denial-of-service attack of 25 million requests on STEPN servers, not an attack on the token contracts.
(Source: Decrypt, DDoS Attacks)
Not applicable. No reported incident affected GMT, its supply or holder balances, and the June 2022 DDoS attacks targeted STEPN servers rather than the token.
Question
Describe material risk factors across the three categories below. Each category includes prompts to address at a minimum.
(a) Regulatory, Legal & Tax Risks — Describe how evolving laws and regulations could affect the project by answering, at a minimum, questions like:
Impact of Regulatory Change on TGE and Listings: (If applicable) How could evolving or conflicting laws and regulations affect your ability to complete the TGE, deliver tokens to purchasers, and list or maintain the token on trading venues in key jurisdictions?
Entity-Level Regulatory Impact: (If applicable) How could regulatory or legal changes impact your core entities (Foundation, DevCo, DAO, affiliated service providers), including enforcement actions, licensing requirements, or forced changes to structure or operations?
Tokenholder Tax Treatment: (If applicable) What uncertainties exist around how tokenholders may be taxed, and make clear that tokenholders are responsible for understanding their own tax obligations?
Jurisdictional & User Access Restrictions: (If applicable) If the project restricts access for certain jurisdictions or user types (e.g., U.S. persons, sanctioned countries, retail vs. professional), what are those restrictions and what risks do they create for users and for the project?
(b) Protocol, Technology & Security Risks — Describe risks to network and contract reliability, correctness, and safety by answering, at a minimum, questions like:
Bugs and Design Flaws: (If applicable) What bugs, design flaws, or implementation errors could exist in your core protocol code, smart contracts, and any bridges, rollups, or oracles that you depend on, and how could these lead to loss of funds or disruption of the protocol?
Security Measures & Their Limitations: (If applicable) What security measures have you taken (audits, formal verification, bug bounties), and what types of failures might these measures still fail to detect or prevent?
(c) Token Economics, Unlocks & Incentive Risks — Describe how the token's economic design and supply schedule could affect holders by answering, at a minimum, questions like:
Critical Economic Assumptions: (If applicable) Which economic assumptions (e.g., staking yields, fee revenue, liquidity incentives, MEV capture, demand for blockspace) are critical for protocol security, utility, and governance, and what happens if those assumptions fail?
Question
Identify to the best of your ability the token's current deployments across chains, including project-issued deployments, project-endorsed representations, and, if possible, documented third-party wrapped or bridged representations.
For each entry, provide:
Multiple entries on the same chain are permitted.
Definition: A protocol-level asset is an asset whose balances and transfers are handled directly by the blockchain's core rules, rather than by a token smart contract. For protocol-level assets without a token contract address, enter "No contract address" and identify the asset and chain.
Response
This Token Transparency Filing is provided for general informational purposes only and does not verify or warrant the accuracy of individual answers.
No airdrop planned or conducted
Not applicable. STEPN announced an airdrop to Genesis Sneaker holders in February 2023.
(Source: Decrypt, New Horizon Airdrop)
(Source: Binance Launchpad Announcement, Binance Launchpad Completion, Governance & Ecosystem Fund, ICO Drops)
(Source: Decrypt, DDoS Attacks)
Not applicable. No token exploit required remediation. The Verilog audit of April 4, 2022 found no critical or major issues and two medium centralization findings, and the team replied to them.
(Source: Verilog Audit, HackMD)
Not applicable. No token incident is open, under investigation or in litigation as of 2026-09-28.
(Source: Verilog Audit, HackMD, Decrypt, DDoS Attacks)
No post-mortem exists because no token exploit occurred. The Verilog audit and the Decrypt DDoS report are the reviewed references.
(Source: Verilog Audit, HackMD, Decrypt, DDoS Attacks)
Governance Control over Monetary Policy & Rewards: (If applicable) To what extent can governance change monetary policy, fee parameters, or reward allocations (e.g., inflation rate, treasury flows, incentive programs), and how could such changes adversely affect tokenholders?
Response
Impact of Regulatory Change on TGE and Listings:
GMT's TGE is complete and it trades on Binance and other venues, so regulatory risk now falls on keeping those listings. Find Satoshi Lab supplies GMT liquidity to Binance, OKX and Upbit through cross-chain operations logged in the whitepaper, including an exchange-requested sGMT liquidity top-up on February 13, 2025. A regulatory restriction or delisting at any of these venues would cut market access and could strand liquidity on one chain.
(Source: Governance & Ecosystem Fund, Binance Launchpad Completion)
Entity-Level Regulatory Impact:
Find Satoshi Lab Limited is a BVI Business Company subject to KYC, AML/CFT, CRS, FATCA, AEOI and BVI Financial Services Commission requirements, and it keeps AML records for at least five years after a customer relationship ends. Its Privacy Policy also cites Australian privacy and AML/CTF law. New licensing rules or enforcement in the British Virgin Islands, Australia or user markets could force changes to onboarding, data handling or token operations. No foundation or DAO legal wrapper shares that burden.
(Source: Data Protection Notice, Privacy Policy)
Tokenholder Tax Treatment:
STEPN gives no tax guidance for earning, spending, burning or trading GMT, and the Terms mention only a sales tax on purchases. Whether move-to-earn rewards count as income when earned or only when sold differs by jurisdiction. Tokenholders are responsible for understanding their own tax obligations.
(Source: STEPN Terms of Use)
Jurisdictional & User Access Restrictions:
The Terms bar users in the United States, China (Mainland), Cuba, Crimea and Sevastopol, Iran, Afghanistan, Syria, North Korea, Antigua and Barbuda, Hong Kong, Thailand, Malaysia, India and Ontario, Canada. The Terms are governed by British Virgin Islands law with exclusive jurisdiction of BVI courts, which makes disputes costly for users elsewhere. Find Satoshi Lab can suspend or cancel access without notice and is not liable for tokens lost through suspension, so users who break these rules risk losing in-app balances.
(Source: STEPN Terms of Use)
Bugs and Design Flaws:
The Verilog audit found that the owner of GreenSatoshiToken.sol can mint unlimited GST and that the owner of STEPNNFT.sol can mint NFTs and change the base URI. A compromised owner key could therefore inflate GST or change NFT metadata. GMT exists on Solana, BNB Chain, Ethereum and Polygon, and supply is kept consistent by burn-and-mint operations between chains that Find Satoshi Lab and Binance run. A mistake in one of these operations, such as the 709,504,827 pGMT mint of February 13, 2025, could leave supply out of balance across chains. Ethereum mint rights were burned in 2023, but Find Satoshi Lab minted GMT on Polygon as recently as February 13, 2025.
(Source: Verilog Audit, HackMD, Governance & Ecosystem Fund)
Security Measures & Their Limitations:
STEPN relies on the April 2022 Verilog audit, Google 2FA and one-time email codes for users, and a machine-learning anti-cheating system that checks GPS and movement data. The April 2022 HackMD audit covered one commit of the BNB Chain contracts and does not cover later chain deployments, Polygon minting or the Ethereum multisig, whose signers and threshold are undisclosed. The whitepaper Security page also links a February 2025 Verilog audit report (STEPN_Audit_2025_FEB.pdf), whose findings are not reviewed here. None of these measures stops server outages like the three DDoS incidents of 2022. No public bug bounty or formal verification is disclosed on the whitepaper security page.
(Source: Verilog Audit, HackMD, Security, Privacy Policy, Decrypt, DDoS Attacks)
Critical Economic Assumptions:
GMT's value depends on ongoing demand from users who buy sneakers and burn GMT for upgrades, because that demand has to absorb the Move and Earn and Ecosystem emissions. The Ecosystem fund still releases 18,000,000 GMT each month and the Team allocation is still vesting, while Tokenomist shows 51.86% of supply unlocked as of September 28, 2026 with releases scheduled until 2040. If active users decline, burns fall while unlocks continue, which puts pressure on price. The January 1, 2026 halving cuts emissions but also cuts rewards for users.
(Source: Governance & Ecosystem Fund, Tokenomist, GMT Earning Advanced, Dropstab Vesting)
Governance Control over Monetary Policy & Rewards:
Find Satoshi Lab, not tokenholders, controls monetary policy and rewards. The Terms let it change token accumulation rates and reverse benefits, and it set and postponed the halving from October 9, 2024 to January 1, 2026 on its own authority. The first GMT DAO vote was a burn vote, which confirmed 60 million GMT for burning out of a target of up to 600 million GMT, and Find Satoshi Lab has invited a second DAO vote. Holders therefore cannot stop reward cuts, treasury transfers or cross-chain mints that may work against them.
(Source: STEPN Terms of Use, GMT Earning Advanced, Decrypt, GMT DAO Burn, FSL on X, Burn Result)
