Saturday, 21st of May 2022, 1 PM UTC, we just successfully hosted our 77th #AMArathon with 5KM (which was been going on for ±81 minutes,) and represented by:
Mr. Adi Wahyu | 5KM’s SEA Head of Marketing
Some of you might didn’t participate or on there for it, you can look back at how was our #AMArathon went FROM HERE to RIGHT HERE. We are up with the recap of our #AMArathon with 5KM and we hope our audiences get a better understanding of 5KM. Happy reading!
🔹1st Segment: Project Introduction🔹
Could you explain a little about yourself and tell us what is 5KM all about?
Okay, got it! Hi Everyone! My name is Adi, I was a former Country Manager for more than 4 years at 2 different top-notch global exchanges (OKX and MEXC), currently, I’m really excited about joining 5KM as a Head of Marketing South East Asia. However, the founder of 5KM unveiled an app called “10KM” in 2014. With the advent of the move-to-earn economic model, it has evolved into the current 5KM. The goals of the founding team remain the same as a Web3 project from the time of the initial development of this app. That means it aims to create a decentralized sports community that encourages people to love sports, enjoy a healthy lifestyle, and go out and plogging (a sport that combines garbage picking and jogging) for environmental protection. You can stay healthy and earn money with 5KM!
Could you please provide some info about your Roadmap and how 5KM is progressing so far?
Sure, this is a good question. Okay, for product planning, please refer to the official website. At present, the overall progress of the team is ahead of the plan on the official website.
- After 5KM APP officially launched and already launched on the DEX (Uniswap) exchange. And also the gamification token KMT can be traded on DEX now.
- 2. In May, the governance token RUN will be listed on CEX (both head and second-tier exchanges can be covered), IEO will also be opened in the same period, the incubation of ordinary running shoes on the product, and the event area will also be launched. But we’re still considering the market situation before our governance token RUN will be listed on CEX.
- In June, it plans to launch the rental market and solve cross-chain problems.
- 4. From August to the end of the year, the core is to improve products, add other running equipment, such as running clothes, etc., social functions will also be launched and the NFT cooperation ecosystem will be opened.
- After 2022, we are committed to the “move to earn” ecosystem, 5KM can work with STEPN to transform the blockchain’s empowerment of sports apps, and encourage more users to participate in sports and contribute to the global climate. At the same time, the team will continue to pay attention to the construction of the community, attract millions of users in a product-driven way, and maintain the healthy, stable and long-term development of the project.
Our governance token (RUN) also will list on big CEX as well, the initial with H, O and M, just stay tuned!
Could you please update to the community some latest news or big events of 5KM?
We‘re happy to announce 5KM IDO will happens on 24th May with ACY platform and we’re also got invested by on of big Ventures from the biggest CEX of China. And we’ll launch IEO for our governance token RUN with those CEX and also listed our governance token RUN on 4 different CEX. But we’re still considering the market situation before our governance token RUN will be listed on CEX. We don’t to rush our progress and will disappoint out users and investors considering the current market situation.
🔹2nd Segment: Questions from Twitter 🔹
Question 1 from @Cryptogud_: What makes it different from StepN or Step.App or other types of move to earn projects?
Good question, there’s no doubt that StepN is the first to create the “Move to earn” model, and it also has a large number of users. However, the entry threshold of STEPN is relatively high, and a pair of running shoes NFT is at least 1,000 US dollars, so it will restrict a large number of users from participating. A pair of 5KM MINT running shoes is about 0.05 ETH, $150, which is a relatively low entry threshold and can meet the needs of most currency circles or new users. In terms of products, 5KM is also a dual-token model, which will pay more attention to the content of the event and social sections, making running more interesting and more disseminated. At the same time, the rewards obtained by participating in the event will not be limited to running shoes nft, and users can get more benefits every day.The rental market is also the core of 5KM. Users can pledge excess running shoes/in-game tokens to earn rewards, or they can run without sneakers and get random token rewards.
Question 2 from @AnnyeongCeo: It’s fun that we can play in 5KM while getting rewards. How can I play the game? Do I need to download any app or is it on the website?
To participate in move-to-earn with 5KM is pretty simple mate, our users need a MetaMask wallet and to download the 5KM app using a non-mainland China App Store account.
- Visit the official website and connect a Metamask wallet.
- Use the app to scan the code and bind the wallet.
- If a user has multiple NFTs for running shoes, choose “Sneakers” to start running.
But please don’t hesitate to join our community in Telegram or Discord if you’re guys have more question for us, our team will happy to help you. For your information, we’ll provide our community some attractive rewards (our valuable Genesis NFT) if you’re actively invite your friends to join our community as well.
Question 3 from @shabansenja: Many games nowadays charge a high fee to start the game & therefore start with a small player base. Does 5KM have an entry fee or initial requirement & if so, what is it? Do I need to hold NFT or hold some tokens to enjoy & 5KM?
Users who have not bought NFTs or cannot afford NFTs can use the 5KM APP to start the running “experience mode”, which will also randomly reward KMT tokens, with a daily limit of 10 KMTs. Users can also continue to pay attention to the rental market that we plan to launch in June. The opening conditions: when the daily active users exceed 1W and reach the specified level of running shoes users, they can rent out the running shoes that are inactive or redundant and get a partial reward share. And if you’re guys interested to join our Move To Earn party, please don’t hesitate to join our community in Telegram or Discord and we’ll happy to provide the activation codes for free. We want our 5KM platform can be profitable for everyone.
Question 4 from @grandonmark: What is being planned in the short term for 5KM team?
Apart of IDO on ACY and list our governance token (including launch IEO) we’ll integrate with OKC (OKX Chain Ecosystem). We’re already announce the integration news this early week.
Question 5 from @terrlunaluna: What measurements are you doing to eliminate cheating the system?
Wow, it’s great question because it is the mandatory system for the 5KM platform. For anti-cheating, 5KM has its own anti-cheating system. We have a related algorithm team that collects a large amount of cheating data for training, including unused cheating scenarios such as cycling, public transportation, and even pet running. We are creating a fair and just “move to earn” product community.
How do you see the market for “move to earn” pin out in the future? What challenges do you expect?
Let me fulfill your curiosity! We’re realized that move-to-earn is a relatively new phenomenon that includes a variety of products and services that pay users for being active. Our goals are pretty simple like providing users with rewards for keeping fit, encouraging people to love sports, enjoy a healthy lifestyle, or go out and be a plogger for environmental protection on blockchain data. I think Move To Earn will continue to be a big trend where people can make money actively and passively. But this is largely dependent on the success of the Move To Earn sector in the coming years. However, following the global restriction in movement and social gathering orchestrated by the Covid-19 pandemic, more users would see this as a way to connect virtually with others as well as keep in shape as they remain indoors. To be honest, we just start to shine and we’re working on it!
🔹3rd Segment: Questions from Telegram🔹
Question 1 from @Rajkumary_77: What do you have? Telegram Group, YouTube Channel, Tik tok channel, Discord, Twitter, Website? For this project, where can I get the latest information and what is the latest plan for your project?
And if you’re guys interested to join our Move To Earn party, please don’t hesitate to join our community. We’ll happy to provide the activation codes for free.
Question 2 from @OaTam27: Can you give an overview of your Tokenomics, and the UTILITY of Token?
You can see that the 5KM economic model consists of three parts:
- Sneaker NFT: can be earned mainly by generation and purchase. Also participate in the creation of sneaker NFT and later a new running shoe will produced by high end sneakers;
- Incentive Token KMT: users can earn KMT without limit by 4 sport modes and are mainly user for repairing, upgrading, generating, and participating in certain activities of running shoes NFT.
- Governance Token RUN: the total number of copies issued is 7 billion, and there will be no additional issue. The distribution mechanism for governance token RUN is as follows:
Question 3 from @moilem: Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
5KM has a richer and richer Move to Earn mode, with four main modes:
- Solo Mode: Users can be rewarded with KMT tokens through walking and running by holding the necessary sneaker NFT. Solo mode includes the Daily Mileage Limit and the Daily Reward Limit. The more users who have sneaker NFT, the higher the rarity of running shoes and the higher the maximum mileage per day. The default base mileage is 500m, and the maximum mileage is 10km. In addition, the maximum amount of rewards that can be earned in the initial period is 200 KMT, and the maximum daily reward is 5,000 KMT and 200RUN. You can also upgrade your running shoes to increase your daily reward limit
- Event Mode: The 5KM community plans to host online running events such as marathons, 5.20, and urban logging from time to time. You must register at least 1 day in advance to participate in the event. However, events are subject to a fixed amount of registration deposits. If the event ends successfully, the deposit will be refunded in full. The security deposit is distributed to the winner as a reward for those who have registered but didn’t participate. In addition, different rewards are set depending on the activity content. However, participating in the activity itself requires certain qualifications, such as holding a certain type of running shoe NFT, running shoe mileage, account mileage, account balance, ETC. Some events do not consume mileage.
- Background Mode: If you’re using sneaker NFT but don’t use 5KM APP often, you can also get paid by using background mode. Background mode is mainly based on the number of steps in the health data of the mobile phone. The maximum number of steps per day is 3,000 and the fixed maximum reward is 25KMT. This does not affect your normal income cap and does not affect sneaker loss or mileage. For income in background mode, it is for users who have purchased sneaker NFT but do not have time to work. Of course, these users can also rent sneakers to others and share 70% of their rewards.
- Experience Mode: For new users, 5KM has announced an experience mode that does not require NFT running shoes. Start running using the 5KM APP and you will be randomly rewarded with KMT tokens up to 10KMT per day.
Question 4 from @HelloSir505050: How can I buy your tokens? Can it be available on any exchange? Do you have semi-private and semi-public events?
Currently you can buy our Game Token (KMT) in Uniswap if you’re not interested to earn our KMT for free in our app. And our governance token will be list in CEX as well after we’re launch IDO in ACY.
Question 5 from @ashik785688: COVID 19 has slowed down many economies around the world but as a crypto business, does it affect you negatively or positively? Are you still on track to achieve your goals or are you planning a new development?
Yes of course, in 5KM platform despite the following the global restriction in movement and social gathering orchestrated by the Covid-19 pandemic, more users would see this as a way to connect virtually with others as well as keep in shape as they remain indoors. And of course earn money from our platform as well.
Before we wrap it up, is there anything you want to say or share before we close the session?
First of all, thanks Madians squad for letting me to held this AMA session with your community. Please don’t hesitate to join the party and let’s earn money by staying healthy with 5KM. See you around guys! stay healthy and profit at the same time!