- Step App, a move-to-earn platform, will wind down all services by Aug. 21 after four years of operation.
- The company announced the shutdown on X, urging users to unstake locked tokens and manage exchange positions before the deadline.
- The platform’s native token, FITFI, has fallen 99.9% from its all-time high, reflecting the broader market slump affecting crypto projects.
Step App, a move-to-earn platform that allowed users to earn rewards through physical activity, will wind down all services by Aug. 21 after four years in operation. The company announced the decision on Wednesday, instructing users to unstake locked tokens and close exchange positions before the deadline.
The shutdown follows a severe decline in the platform’s native token, FITFI, which currently trades 99.9% below its all-time high. “We are incredibly proud of what Step App achieved — not just as a product, but as a movement,” the team said in its announcement.
Step App joins a growing number of crypto companies winding down amid an ongoing market downturn. The move highlights the challenges faced by move-to-earn and other token-incentivized applications in sustaining long-term user engagement and token value.
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