Owning GMT: Uses, Networks and Risks

GMT is STEPN’s governance and utility token. In STEPN, users can burn GMT to access certain features, including minting higher-quality NFT Sneakers and upgrading higher-quality Gems. GMT can also be used for governance voting. STEPN is a move-to-earn app: users equip NFT Sneakers and walk, jog or run outdoors, with the app’s dual-token system also including GST. GMT is not the only token connected to the app, and holding it does not guarantee earnings or voting influence.

Before using GMT in STEPN, check the app’s current requirements: feature costs and rules can change. GMT is also traded as a crypto asset, so its market price may move independently of your use of the app. Treat its app utility and its market value as separate considerations.

GMT tokens have been issued on Solana, Polygon, Ethereum and BNB Chain. GMT is not the native currency of these networks; each network’s version is a token that uses that chain’s infrastructure. STEPN is associated with Solana, but a token labelled GMT on another network is not automatically interchangeable with the version you need for a particular app or wallet.

For STEPN use or a transfer, check the network and token details shown by the receiving service before sending. A mismatch can leave funds inaccessible, and transfers generally cannot be reversed. If you hold GMT yourself, use a wallet that supports the specific network and token standard. Keep enough of that network’s native coin to pay transaction fees; GMT itself may not cover them. The STEPN app includes an in-app wallet and swap function, but check its current supported networks and transfer instructions before relying on it.

GMT has a maximum supply of 6 billion tokens. As of November 8, 2026, about 3.11 billion were circulating, against a total supply of about 5.07 billion. The difference between circulating and total supply means not all tokens were counted as circulating at that point; the maximum supply is a ceiling, not the amount currently in circulation. Check current token figures before making decisions, since supply data can change.

On November 8, 2026, GMT’s market price was about $0.0060, with a market capitalisation of about $18.8 million and fully diluted valuation of about $30.7 million. These are dated snapshots, not forecasts or guaranteed values. The price was close to the token’s recorded all-time low of about $0.0058 on November 5, 2026. That history highlights how sharply GMT’s market value can change; it does not indicate what the token will be worth next.

If you keep GMT in a self-custody wallet, protect the recovery phrase offline and never share it. Anyone with that phrase may be able to control the wallet. A hardware wallet can reduce exposure of signing keys to an internet-connected device, but you still need to verify transaction details and use the correct network.

Before sending or receiving GMT, confirm the network and token address with the receiving wallet or service. A token’s name and ticker alone are not enough to identify it. Test with a small transfer if appropriate, and be cautious of unsolicited messages, fake support accounts, and links asking you to connect your wallet or reveal recovery details. If you use STEPN’s in-app wallet, understand how its recovery and access work; do not assume its protections are the same as those of a self-custody wallet. No wallet can reverse a mistaken or fraudulent blockchain transfer.

GMT’s main risks include price volatility, changing demand for STEPN features, and reliance on the app remaining useful to its users. A token’s governance or in-app role does not guarantee that it will retain value, and voting rights do not necessarily give holders control over every project decision. GMT also has multiple network versions, which adds the practical risk of sending the wrong token or using the wrong network.

The circulating supply is below the stated maximum, so check supply changes and any project announcements rather than assuming the current circulating amount is fixed. The project’s token information here does not establish an audit or guarantee that app features will stay available. Consider whether you can tolerate losing the amount you hold, and avoid treating past prices or token burns as evidence of future performance. This is information about GMT, not a recommendation to buy or sell it.