Step App to Wind Down Operations After Reaching 1 Million Downloads

Step App, a four-year-old Move-to-Earn platform, will cease operations on August 21. The team behind the project advised users to unstake locked tokens and manage their remaining positions before the deadline.

In a statement, Step App announced it had reached over 1 million downloads during its operation and recorded billions of tracked steps.

The decision to shut down comes after South Korean cryptocurrency exchanges Upbit and Bithumb delisted Step App's governance token, FITFI, in July. FITFI was launched at $0.0049 and peaked at around $0.73, representing a roughly 150-fold increase from its initial price.

The team did not provide a reason for the shutdown, but the announcement follows the exchange actions earlier this year.