STEPN has responded to the critiques that the platform isn’t a Ponzi scheme. A few of the critics identified some schemas that allegedly confirmed that it’s much like a Ponzi however STEPN says that the corporate is avoiding the problems by way of managing its token.
STEPN was launched in 2021 on the Solana community. For the reason that idea was fairly new, it raised $5 million from seed funding and buyers in January 2022.
Why Individuals Regarded STEPN as Ponzi?
As the thought of earning money as you stroll and run is sort of new, it doesn’t make sense to the critics. They imagine that it might’t be attainable to generate revenue merely by transferring. Beforehand, the idea of P2E was additionally considered Ponzi because it sounded too good to be true.
One more reason why critics regard it as Ponzi is that we have to have an excellent preliminary funding to begin incomes. Not solely that but additionally you should invite new customers to the sport, therefore bringing extra funding.
The critics don’t like this construction and name it a Ponzi.
STEPN has determined to enhance its system in order that they hold public belief and curiosity. In addition they hold sharing long-term plans similar to addressing the problems and suggesting how they’d enhance them for long-term sustainability.
They’re introducing an Anti-Cheat system and creating strong tokenomics.
The STEPN Token, $GMT, is already going through a decline in its worth because the bearish market continues. This can be a large concern for the Transfer-to-Earn neighborhood as there’s a good variety of folks and companies that imagine in its future.
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