GST, the coin you earn by moving

Green Satoshi Token (GST) is the in-game currency of STEPN, a mobile app that pays you crypto for walking, jogging or running outdoors with NFT sneakers. If you have been asking “what is Green Satoshi Token and why does everybody say it crashed?”, the short answer is this: GST is a utility token with no supply cap, earned by moving and burned when you spend it in the app. Its price depends almost entirely on how many people play STEPN and how they use their coins.

This page explains GST from zero. You will learn who makes it, how it is created and destroyed, how it differs from STEPN’s other token, why there are three versions of it, and what that all means if you are thinking about buying some. We keep the price talk short here. For live numbers, see the GST price page.

What is Green Satoshi Token (GST)? The short answer

The STEPN whitepaper defines GST as the token users earn by moving with “Classic” NFT sneakers, with infinite supply ^[source] . In practice it works like coins in an arcade game, except the coins live on a blockchain and can be traded for real money.

You earn GST when you move at the right speed for your sneaker. You spend GST to keep your sneaker working: repairs, level-ups, gem upgrades, socket unlocks, Mystery Boxes, minting new sneakers and enhancement. Every GST you spend in the app is burned, which means it is removed from supply for good. FSL puts it directly: “All GST users spent in the app are burned daily from the Spending Account” ^[source] .

So GST is less like a savings coin and more like fuel. The game needs it to run, players produce it by moving, and the system burns it as the game is played. Whether the token holds value depends on whether that fuel is in demand.

Who makes GST, and where did it come from?

GST comes from Find Satoshi Lab (FSL), founded in 2021 by Jerry Huang and Yawn Rong. Media usually describe FSL as an Australian company; one startup database lists a British Virgin Islands headquarters, so the legal home is not fully confirmed. STEPN came 4th out of more than 500 projects at the Solana Ignition Hackathon in 2021, according to the whitepaper’s own overview ^[source] .

The app launched its beta on Solana in late 2021. Sources disagree on the exact date, and the exact day the GST token was first minted is not confirmed. What is clear is the growth that followed. GMT, the second token, launched on Binance Launchpad in March 2022. In April 2022 STEPN opened on BNB Chain together with an ASICS sneaker drop. An Ethereum realm arrived in July 2022.

That Ethereum realm no longer exists. In August 2025 the Polygon realm replaced it, and the whitepaper now labels the old Ethereum GST contract “inactive”. So GST today lives on three chains: Solana, BNB Chain and Polygon. If you read an article that still talks about “ETH GST” as a live option, it is out of date.

How is GST created?

New GST appears only one way: people move with sneakers. Each move session burns Energy from your account. One Energy equals five minutes of earning. How much Energy you get depends on how many sneakers you hold and their quality, from 2 Energy for one sneaker up to 20 per realm. Energy refills by 25% every six hours. Our STEPN Energy guide explains the refill times and how to plan around them.

During a session the app checks your speed. Each sneaker type has a sweet spot: Walkers at 1–6 km/h, Joggers at 4–10 km/h, Runners at 8–20 km/h, Trainers anywhere from 1–20 km/h. Inside the range you earn the full rate. Outside it, earnings drop, and if more than half of your movement is outside the range you get no GST at all.

The amount you earn per Energy depends on your sneaker’s Efficiency attribute, any gems in its sockets, a few hidden system values, a random factor, the sneaker’s durability, and the anti-cheat verdict ^[source] . FSL has never published one exact formula. Community calculators estimate it, and our GST earning calculator does the same with honest ranges.

Finally, every account has a daily GST cap. It starts at 5 GST and rises as you level up your sneakers, peaking at 300 GST. Above 300 you can lift it further only by burning GMT. This cap is one of the most important brakes on GST supply, and also the reason new players often earn much less than they hoped.

What is GST used for?

GST has value only because the game asks you to spend it. Here are the main sinks.

Some of these costs are optional and some are not. Repairs are close to mandatory: a sneaker at low durability earns only a fraction of normal. Levelling is optional, but without it your daily cap stays tiny. Minting is fully optional and only makes sense when the new sneaker is worth more than the cost. This mix is why the GST price rises when players are building and falls when they are just harvesting.

GST also has a few uses outside the game. pGST, the Polygon version, was added as a funding token for GMT Pay, FSL’s gift-card product, and you can swap GST for other tokens on decentralised exchanges. But the in-game sinks are what really matter.

GST and GMT: two tokens, two jobs

STEPN uses two tokens, and mixing them up causes a lot of confusion.

GMT is the scarce token. You need it at milestone levels, for part of the minting cost, for higher gem upgrades and for enhancement, and the marketplace prices sneakers in GMT. Level-30 and Rainbow sneakers earn GMT instead of GST. GMT is also listed on many big exchanges, including Binance, Upbit and Bithumb, while GST is listed on very few. Our GST vs GMT comparison covers these differences in detail.

One name, three tokens: sGST, bGST and pGST

Here is the detail that trips people up most. “GST” is not one token. Each STEPN realm has its own: sGST on Solana, bGST on BNB Chain and pGST on Polygon. The official FAQ says GST “is NOT shared across realms” ^[source] . You cannot earn sGST in the Solana realm and spend it in the Polygon realm, and FSL offers no bridge between them.

Because each version trades in its own pools, the three prices are different, sometimes by several times. On CoinGecko you will see sGST as “GST-SOL” and bGST as “GST-BSC”. pGST is not listed there; its price comes from DEX data. Contract addresses and the full realm comparison live on our sGST, bGST and pGST page. Always check you hold the version that matches your realm.

GSTとは? A note for readers in Japan

Japanese searches for “GSTとは” or “GST 仮想通貨” usually ask the same thing this page answers: GST is STEPN’s in-game utility token, earned by moving and burned when spent. Japan is one of STEPN’s most active markets, with official marathon events and an active community around the Polygon realm. GST is not listed on Japanese exchanges such as bitFlyer or bitbank, and crypto gains in Japan are currently taxed as miscellaneous income. Our STEPN in Japan guide covers taxes, the coming tax reform and how Japanese players fund the app.

Where does your GST actually sit?

When you earn GST, it lands in your Spending account. Think of that as your in-game pocket. Sneakers, gems and GST you plan to use for repairs or levelling live there, and everything you spend in the app is burned from it.

Next to it is the Wallet, a self-custody crypto wallet created inside the app and protected by a 12-word secret phrase ^[source] . Moving GST from Spending to Wallet is an on-chain transfer, so it costs a small gas fee in SOL, BNB or POL depending on your realm. Once GST is in the Wallet you can swap it inside the app through DOOAR, STEPN’s own exchange, which charges a 1% fee, or send it to an outside wallet or exchange that supports that exact token and network.

Two practical points follow. First, keep enough gas token in your Wallet, or you cannot move anything. Second, never share the 12 words with anyone, including people who say they work for STEPN. Our STEPN wallet and safety guide walks through 2FA, seed storage and the most common scams.

Is GST a good investment?

We cannot tell you what to do with your money, and nobody honest can promise you GST will go up. What we can do is lay out the facts that matter.

GST is built to be spent, not hoarded. Its design rewards people who use it in the game. Holding it as a long-term bet means betting that STEPN’s player base and burn rate will grow faster than new supply. History so far has not been kind to that bet. If you want to think through the possible paths, read our GST price prediction scenarios, and if you want the story of the crash, see what happened to STEPN.

Common misconceptions about GST

“GST is the same as GMT.” It is not. GST is uncapped and used for daily actions; GMT is capped at 6 billion and used for bigger decisions and the marketplace.

“You can buy GST on Binance.” Binance lists GMT but has never listed GST. GST spot markets remain on Coinbase, Kraken and MAX in Taiwan, plus DEXs. Our buying guide shows the realistic routes.

“Unlimited supply means GST is worthless.” Unlimited supply is a real weakness, but it is balanced by burning. A token with no cap can hold value if enough of it is destroyed. The question is always the ratio, and that ratio changes with player behaviour.

“STEPN is dead.” The app is smaller than in 2022, but it is running. FSL posts monthly updates, holds marathon seasons and runs events. That does not make GST a good buy, but it does mean the token still has a real job.

“Moving faster earns more.” Only inside your sneaker’s speed range. A Walker used for running will earn little or nothing.