STEPN Launches $30M FSL Points Airdrop Prior to Partnership Reveal

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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April 11, 2024 03:51 EDT

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The web3 move-to-earn app STEPN has launched a 100 million FSL Points ‘trailblazer’ airdrop campaign ahead of its partnership announcement.

According to a press release shared with Cryptonews.com, the Solana-based non-fungible token (NFT) project would divide this airdrop worth a total of $30 million into two phases, as the FSL Points are redeemable for STEPN’s native GMT tokens.

The 100 Million FSL Points Airdrop

The initial phase of the airdrop targeted STEPN’s Badge Holders, distributing FSL Points based on the complexity of their completed in-app activities and challenges.

In the second phase, Genesis Sneaker holders received FSL Points reflecting the duration of their ownership, recognizing their loyalty and sustained engagement with the app.

🚨 100 Million GMT Airdrop COMPLETED 🚨

Dear Genesis holders, your FSL Points airdrop has been sent! ✨

This second airdrop marks the end of our #STEPNTrailblazer event, and we want to reflect on this traditional yearly airdrop, the third one since 2022.

🏆 Badge Airdrop
The… pic.twitter.com/9jmd1Gyh9n

— STEPN GO (@Stepnofficial) April 10, 2024

Holders of FSL Points have two options for their use: they can convert these points to GMT tokens on the STEPN marketplace or retain them to buy tickets for Raffle Mints in future events and upcoming partnerships.

“We have decided to launch this huge airdrop campaign as a token of gratitude to our most loyal community members, providing them with priority access to our upcoming mints and other exclusive rewards,” said STEPN CEO Shiti Manghani.

This campaign marked the third yearly airdrop since the first launched in 2022. The app has distributed 235 million GMT tokens during the three events.

The eligible airdrop recipients would have until April 29 to make their moves. The allocated tokens will be lost if they fail to claim their rewards.

Upcoming Partnership with World’s Best-Known Brand

The release also included a teaser regarding the app’s planned partnership with “one of the world’s best-known sports brands.”

“STEPN currently finds itself at a very exciting juncture,” stated Manghani. “With major plans in the pipeline this year to supercharge our growth and cement our leading position in the move-and-earn sector.”

“The next few months mark a pivotal moment for STEPN, and we’re thrilled to share this with our most dedicated supporters,” said the CEO.