Stepn Founder Wants To Promote Healthy Body and MindMove-to-earn blockchain-based application Stepn recently generated $122.5 million in profits in the second quarter through its platform fees — which have made up a growing chunk of revenue, more broadly. The company said in a Medium post it intends to leverage 5% of the proceeds to initiate a buyback and burn program of its green metaverse token (GMT), a governance token that acts as a store of value. The announcement informed users that the buyback and burn process may take a few weeks to complete to avoid causing sudden GMT price volatility.
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