 This morning, I was forced to wake from my slumber before 8 a.m. to make sure that I was up to listen to the first official step in Twitter spaces. Although I was ecstatic to finally get an AMA, I was not that happy to have to wake up so early for it. In the hour long town hall AMA, they discussed many things from Yann being banned from speaking in these AMAs, all the way through the current economical issues within step in and why step in will not only survive, but thrive throughout this bear market. They also spoke about the new updates and what to expect going forward in future updates and developments. I imagine that many people were either sleeping or working because it is the middle of the week or maybe you just didn't wanna listen to a full hour of people talking. So in this video, I will do a TLDR, too long, didn't read, version of the hour long AMA and break it down into 10 minutes. Well, hopefully it's only 10 minutes. So in order to keep the video short, let's go ahead and dive right in to today's video. So if you guys didn't know, from now on, step in is no longer doing their AMAs within the Discord, since they now have two different Discord to reach everybody. They're instead doing the AMAs in what they're calling a town hall on Twitter spaces. If enough people are interested in me maybe streaming the AMAs on my YouTube channel, then just let me know in the comments below. If I have enough people requesting it, then I will stream the AMAs moving forward once my account of course is no longer suspended. So I'll be on my Bitcoin daily channel. And then that'll give you another channel, another option to watch and listen in. And I'll also be giving my own thoughts, opinions, and reactions. So the first thing that you'll notice about this AMA is that Yian is one of the speakers. So that was a surprise for some after if you guys recall this tweet by Mabel saying that Yian should have apologized himself for considering his naughty behavior. We've reached consensus to ban him from speaking publicly for a little bit. So as we now know, that was more of a joke than anything else that probably got lost in translations. The main point was that he won't be doing as much talking, as much speaking engagements as he was before, but he will still be included in these AMAs covering the more technical aspects of stepping. So the AMAs started with them giving out some of the current numbers for stepping. Right now, they currently have 900,000 daily active users. They were hoping to be at one million DAU by this point, but they believe that they can still get there very, very soon. They said that they're currently growing at a rate of about 20,000 new users per day. And they're currently working on a campaign to reach web 2.0 runners by using the Strava application. So after that, they officially introduced Shitty, who is an electronics MBA. She launched the Wall Street Journal in India. She moved to the US to work with PepsiCo, moved to the UK seven years ago to work for an AI solutions for postures in workouts. And now she's a CMO or Chief Marketing Officer for Steppen and will be the lead spokesperson for the project going forward. Jan and Jerry will be more focused on delivering the product and doing less speaking engagements. So after the introductions, they went on to speak about the current economical issues within Steppen and just the overall market. They spoke about the current bear market in crypto and that it's the first time that crypto goes through a bear market while the equities market is also in a bear market. Wow, everything is overall in a bad macro economy. They went on to speak about China, who's currently still dealing with COVID, which is of course affecting the amount of supply that they're able to put out. That of course affects the overall economy as well. The current war that's still out there and going on, even though most of us might not hear about it in the news and the current state of the US while it battles in inflation and continues to raise the interest rates, which has been sending all the markets down. So then Shitty went on to explain why not only will Steppen survive the bear market, but thrive in it. So first of all, she pointed out how unique the Steppen product overall is and its influence on the web 3.0 applications. Not only is Steppen a crypto project, but Steppen is onboarding a lot of people who have never even been interested in crypto. And that is one of the big reasons why she believes that Steppen will stick around and survive this market. She also mentioned that we currently have 900,000 daily active users and that number continues to go up. Plus in the six month lifespan of the project, we have millions of users already using Steppen. She spoke about Steppen's solid business model, how it's unique and how it's giving traditional fitness companies and fitness apps a run for their money. She went on to say that the income that Steppen is currently bringing in put together with its business model is rare to find. So next they spoke about some of the new updates in the latest one that we got on Tuesday. If you have not yet seen those updates, this is what was updated in the latest version here where they added minting scrolls and optimize the minting function. They changed up the mystery box system. So now it has 10 levels and minting scrolls can be found inside mystery boxes now as well as GST. They optimize the anti-cheating mechanics, is now activated for suspicious accounts. They also optimize wallet function and improve the success rate for the trading function and fix some bugs. So starting off with the mystery boxes, they now have 10 levels of different mystery boxes which can contain anything from gems, minting scrolls and even GST which is something new that's being put back into the game because they actually tried it before, took it out, now they've put it back into the game. That's gonna be cool to see what type of GST, what type, what amounts they're going to be giving. The lower level mystery boxes are going to be cheaper. A level one damaged mystery box will be about five GST and it goes as expensive as a level 10 Satoshi mystery box being 100 GST to open. They mentioned that minting scrolls have still not been activated but they will be within 24 hours. So probably by the time you watch this video, minting scrolls should be active. You will now need two minting scrolls in order to mint a new sneaker. Another thing that's changed and new within the app when you're minting sneakers, you can see that now if you have two of the same sockets, this used to be 85%, it was changed to 70% now. So if the two sneakers you're minting have the same sockets, you only have a 70% chance now for the new sneaker that you mint to have that same socket. They said that they put a little buff to the luck attribute on the higher end. They agreed that higher luck should receive better rewards. There's too many stories of people with five, six, seven, 800, even 1000 luck and they're getting these mystery boxes with the level one gems. They also said that the minting scrolls drop rate are pretty much the same as gems. So they also discussed that on their anti-cheating update, they are rolling out the Turing scoring system today. So basically the way it will work is a user starts with a 100 out of 100 score. The score is invisible to the users but when a user's Turing score is below 100, the user cannot interact with the NFT marketplace or transfer between spending and wallet accounts. If a user is moving outdoors without cheating, the Turing score will gradually return to 100 out of 100. So the SMAC system will add or deduct users Turing score and earnings once the analysis is done. So they are definitely tightening up the anti-cheating system and mechanism. This was a warning to everyone who is still out there trying to walk with multiple devices at the same time or use GPS spoofing or being a bad actor in any other manner guys, be careful because the system is now watching. You can see here on the white paper exactly what they consider cheating and what they don't consider cheating. One thing to note is moonwalking is not part of the system's scrutiny. Next, they spoke about the decentralized exchange that they are now releasing. It will be released in three different stages. Stage one is a step in in-app swap without an independent front end. The swap will only serve users within the step in app only on Solana. So the team will be moving out liquidity from pancake swap in Orca and into this new exchange. In stage two, anyone will be able to provide liquidity to the GST, USDC and GMT, USDC pairs. So this will be done through a website not through the app. And then stage three, anyone can create liquidity pools for other tokens because they want it to be multi-chain. Every realm will have a dex. The swap within step in will charge a 1% trading fee. And within this 1% trading fee, 0.3% will be rewarded to liquidity providers. 0.6% will be held at a separate address to give back to the step in ecosystem. This includes potential GMT buybacks and burn, NFT sneaker buybacks and burns, supporting ecosystem building events and community giveaways and raffles. 0.1% will be used for future development work. They said that the goal with this decentralized exchange is to no longer print money from thin air but to actually have another source of revenue. This will bring step into a positive cash flow. And this will be one of the biggest steps into making step in long-term and sustainable. So they also spoke about the new realms and how the team has a chance to learn from their experience with the BNB realm and do things differently in the new realms to positively affect the GST price. They said that this was very, very important because they noticed that when BNB's prices were crashing it also caused the Solana side prices to also crash. Even though they're not pegged or connected they still affect each other. So the idea in the new realms is to learn from the experience and make this better so it can have a better effect on all the realms going forward. They said that these new realms should bring trust back into the projects. They spoke about the energy bridge that everyone has been asking about and a lot of people are confused. They said that the one in this medium article is the one that will be initially rolled out. If adjustments need to be made then they will make those adjustments as they move forward. They said that the new realms will be a way to attract more attention towards the project and that there will always be incentives for people to also remain on the older realms. They said that the newer realms will probably be more expensive to buy into so that people will probably jump into the older realms. Next they spoke about sneaker synthesis which is the new NFT burning system to burn more sneakers. So the idea is that you burn five low quality sneakers and mint one of higher quality. The sneaker types and gem sockets will be based on the vintage sneakers used to upgrade to that higher quality sneaker. It will come with a cost in both GST and GMT. They said that this is the very next feature that should be coming out in one of the next updates. So then they spoke about how the team is currently fighting all the fud that is out there right now in the market. They said that they're working on these new realms in order to bring more partnerships into the ecosystem. They of course are rolling out their own decks which will bring in external revenue and give users another reason to not sell their GST and GMT. They're also working on new features to bring into the project. These will be announced at a later date. Then finally they spoke about what everyone has been worried about the most. That is of course the price of GST which is currently 25 cents on Solana and 49 cents on the Binance Smart Chain. GMT is also sitting at 65 cents. So the first topic was of course GST versus GMT because a lot of users are feeling like stepping is not too focused on the value of GST. At the end of the day that's what everyone on Steppen is currently being rewarded in. So they said that GST in the short term is just as important as GMT in the long term in order for this project to survive. They acknowledged that the GST value is a very, very big concern for the users using the app right now. They went on to say that they have multiple use cases planned to make sure that more and more GST is being burned within the end game economy so that it balances out the price of the GST token. They said that these planned use cases will help and improve the prices on GST. As far as GMT earnings that will not be available until all the GMT use cases are rolled out. They said that this will take a bit longer than originally planned. So overall I think it was a pretty decent town hall AMA meeting. They acknowledged some of their struggles the past few weeks and they spoke about how they're going to overcome those obstacles starting with using shitty as the main spokesperson and point of contact and letting Jan and Jerry focus on delivering the best results and experience possible within the Steppen project. They're aware of all the economical issues and they are very confident that Steppen will survive these current market conditions. They broke down all the recent updates and the purposes behind them including the new decks which will now be bringing another source of revenue for the project. The third realm is still a couple months away. They said that the next update should include the sneaker burning mechanism so I'm pretty excited about that that should hopefully help with the floor prices on the sneakers and of course they acknowledged how important GST is to this project and to everybody that's currently out there walking jogging or running. So let me know what you guys thought about this. How do you guys feel about the new updates, the new exchange and are you getting more confident in the project again if over the last month you lost any confidence or anything of that nature. Let me know in the comments guys if you have any questions about anything that I spoke about today drop it in the comments as well if I have the answer I will give it to you. If I don't I'll try to look for it. Thank you guys so much. I should have my YouTube channel back by next week. So make sure to subscribe to that channel Bitcoin Daily if you haven't done so yet. Until then I'll be right here on this channel so you could also subscribe to this one. Thank you guys if you stayed into the end drop a comment saying that you watch this video till the end and I will have a special gift for one lucky person. It's 100 GST. I'll see you guys on the next one as always. Peace and love.