TechFlow reported, according to The Block, STEPN will airdrop GMT token rewards worth a total of $30 million to users.
Stepn is distributing 100 million "FSL" points, which can be exchanged for GMT tokens on the Stepn marketplace at a one-to-one ratio. With the current trading price of GMT tokens at approximately $0.30, the value of Stepn's point distribution amounts to roughly $30 million.
Shiti Manghani, CEO of Stepn, stated that this year's airdrop is the largest in history. He also mentioned that recipients include users holding its NFTs and Genesis holders.
Although the airdrop has already begun, Stepn had not previously disclosed the scale of distribution. The company said the next phase of the airdrop will start on Wednesday.
Stepn noted that FSL points can also increase users' chances of obtaining exclusive prizes.
Previous report, STEPN will airdrop FSL points to eligible Genesis holders, exchangeable 1:1 for GMT.
