Genesis of StepN with Yawn Rong
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In this episode of Exploring Solana with Jupiter, Yawn Rong talks about the humble beginnings of StepN, a Web3 lifestyle app that combines SocialFi and GameFi in one. Together with your host, Ben Chow, check out how Yawn and his team started from avid dreamers to successful crypto developers to help you stay inspired with your crypto journey! If you liked this episode, don’t forget to subscribe and show your support to Exploring Solana with Jupiter by rating us 5 stars.
Definition of terms:
- Cryptocurrency - an encrypted data string that denotes a unit of currency
- Solana - fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning DeFi, NFTs, Web3 and more
- Jupiter - is the key swap aggregator and infrastructure on Solana, giving you the best price swaps for any token
- NFT- are unique cryptographic tokens that exist on a blockchain and cannot be replicated; can represent real-world items like artwork and real estate.
- Bitcoin Mining- is the process of creating new bitcoins by solving extremely complicated math problems that verify transactions in the currency
- Axie- an online game universe revolving around Pokémon-esque creatures known as Axies
- GST- also known as Green Satoshi Token; a Solana token that powers StepN, a Web3 lifestyle app that encourages users to “move-to-earn”
- GMT- a token and it means it is a cryptocurrency, which based its activities on the blockchain of other cryptocurrencies such as Ethereum Blockchain or EOS
[1:23-3:40] The birth of the StepN idea
[3:50-5:11] GameFi vs Game like
[5:28-7:36] Were people immediately interested in StepN?
[9:49-14:51] The challenges of GameFi development
[17:52-21:42] On project sustenance and longevity
[21:44-23:11] The origin of the two token system
[23:23- 26:52] Balance
[37:09-41:01] Anti-cheating mechanics of StepN
[47:29-48:57] The strategy? Failure is not an option.
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