The Step App project, focused on earning through blockchain, announced its shutdown after four years of operation. The project team stated that all services will cease on August 21st and urged users to unlock their tokens and manage open positions before this date.
The Step App press release noted that the decision to shut down was considered for a long time and that the full termination of activities was not easy. The team added that the project achieved over 1 million downloads, tracked billions of steps, and established various partnerships bridging the Web2 and Web3 worlds.
The Step App, which combined blockchain technology with fitness applications, was one of the prominent projects in the Move-to-Earn model, where users could earn digital assets in exchange for physical activity. However, despite the collected data on users and activity, the team decided to terminate the project.
The project's governance token, FITFI, previously reached an all-time high of approximately $0.73. Considering the token's IDO price of $0.0049, FITFI grew roughly 150 times compared to its initial sale price at its peak.
Step App's decision to shut down followed announcements from exchanges regarding FITFI. South Korean cryptocurrency exchanges Upbit and Bithumb announced on July 16th the termination of support for FITFI trading. Due to the project's closure, FITFI holders need to check their locked tokens and other positions on the platform before August 21st.
*This is not investment advice.
end-content
