Are you about to start your STEPN journey? Are you going to buy your first sneaker today? Have you noticed that STEPN can be used on both Solana and Binance Smart Chain (two different blockchains)? In July 2022, a third blockchain will become available as well, giving you one more option to choose from. Which should you choose? What is the difference between the different blockchains?
One of the most important things to understand right now is that STEPN is supposed to make you earn money while exercising. That is true, but it is also causing lots of people to be discouraged. The reason is simple. You spend a lot of money buying an NFT sneaker on one of the blockchains and then you start to exercise. This is easy. But, even though it sounds easy and you should get your investment back within 50-100 days, that is not the way things will happen.
You constantly spend your GST earnings repairing your sneakers. Then most people also level up their sneakers in order to make it better which will give them higher rewards in the future.
Since the 10-level mystery box system was implemented, almost everyone will receive different mystery boxes, even though you have little value to your luck attribute and you only do 2 or 4 energy activities. As a result, you will receive boxes and you will then pay GST to open your boxes (if you decide to do so). It might sound easy to be “strong” and resist right now, but when you are in the game, this is a big challenge and it can be rewarding as well. As a result, you always spend more than you plan, thus causing the journey to earn your money back will become much longer. This is the same no matter which blockchain you use, Solana, BSC, or the future third realm.
What are the differences between STEPN on Solana and BSC?
There aren’t any big differences between the blockchains. The game is the same and the concept is the same. The difference right now is that the GST price on BSC is higher than the GST price on Solana. The GMT price is the same no matter which blockchain you use.
Many people, therefore, run to Binance Smart Chain in order to enjoy the higher GST prices which then means higher rewards. But, is it worth it?
- Right now, the floor price of a STEPN sneaker on BSC is 1.4 BNB, approximately $320.
- The floor price of a STEPN sneaker on Solana is 3.2 SOL, approximately $110.
As you can see, the cost of a sneaker on Binance Smart Chain is nearly 3 times higher than the price on Solana. You might receive rewards worth more, but it doesn’t mean that you will get your investment in return any faster. In fact, you will increase the risk as you will invest more money than you ever would on Binance.
It is important to know that you have different energy on Solana and BSC. You can, if you want to, buy a sneaker on BSC and a sneaker on Solana. This will give you 2 Energy on both blockchains each day, giving you a total of 20 minutes of exercise. Then you can compare the accomplishments on both blockchains and see which one serves you the best.
STEPN itself is completely similar on both blockchains meaning that what you need to take into consideration is simply the initial cost and the possible rewards of the different blockchains.
Most users are on Solana…
It should be mentioned that Solana has way more users than BSC has. That makes it all the more stable, but it also means that the selling pressure is higher on Solana than on BSC, as lots of people receive their daily GST rewards on Solana. In the future, as GMT earnings will be enabled, it will not matter which blockchain you use as GMT is a universal cross-chain token.
The Solana blockchain has had quite a lot of technical problems, but it seems to get better.
STEPN has caused a lot of traffic for the Solana blockchain and this has, at times, caused heavy delays for transfers of funds and NFTs on the blockchain. It seems to get better with time, but it is a fact that there have been more problems for Solana users than for Binance Smart Chain users. Personally, I wouldn’t let this influence my choice.
A third realm will for sure bring a pump and dump experience.
Soon STEPN will launch on a third blockchain. This will, for sure, cause a pump and dump experience as people will buy a lot of GST at first to quickly level up their sneakers, for then to mint their sneakers and sell them at extreme prices. This happened on Binance Smart Chain in May, and it will for sure happen on the new realm in July.
My piece of advice would be to just leave the third realm in peace and wait for a month or two before you buy a sneaker there (if you feel attracted to it). If you get a sneaker for the third realm or find one really cheap, go for it, but I would clearly warn people from jumping to the third realm hoping for giant profits quickly!
