{"id":2287,"date":"2021-07-04T15:24:49","date_gmt":"2021-07-04T15:24:49","guid":{"rendered":"https:\/\/coinwire.com\/?p=2287"},"modified":"2022-07-21T08:05:18","modified_gmt":"2022-07-21T08:05:18","slug":"deep-dive-step-finance","status":"publish","type":"post","link":"https:\/\/coinwire.com\/deep-dive-step-finance\/","title":{"rendered":"Deep Dive #3 | STEP.FINANCE | Position tracking for DeFi power users, native to Solana"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_StepFinance\"><\/span>What is Step.Finance&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>With the rapid development of Solana ecosystem having a Dapp that aggregates and optimizes dashboard like apeboard.finance or Debank is essential.<\/p>\n\n\n\n<p>Step.finance does more than that, users can Visualize, Analyse, Aggregate, and Execute transactions across Solana in one easy to use Dashboard<\/p>\n\n\n\n<p>It can be said that step.finance is the top 1 front page of Solana<\/p>\n\n\n\n<p>Born out of Solana Hackathon Step has to connect to the (smart contract) built on Solana users can directly swap and get the information directly from dashboard.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tokenomics\"><\/span>Tokenomics&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Overview<\/h3>\n\n\n\n<ul><li>Ticker: $Step<\/li><li>Token Type: SPL-20 (Solana)<\/li><li>Max Supply 45.685.838<\/li><li>Circulating Supply: 682.196.971<\/li><li>Airdrops: 1%<\/li><li>Founders: 20% (Lockup over 2 years vested in 25% increments every 6 months.)<\/li><li>Treasury: 12.219%<\/li><li>Presale Investors: 11.780% (Lockup: 2 years vesting. 50% available after 1 year, 50% available year 2)<\/li><li>Community &amp; Ecosystem: 55% (LPs and Trade executors)<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/_gC2g3rW2alJBvz-ax8YCEeGd47z0zFIM2mfmNyCPc30Wnta91Chn8EWckAWxvb18eOcGZDzalWqOZklYmQ1X2fXHQm_p3j_DCGJbIvTMlLyyew8rmQ4yA4oQKigwHnlKjglVBaX\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">The benefits of step.finance tokenomics<\/h3>\n\n\n\n<ul><li>80% of fees on Step go to STEP stakers and 20% to the Treasury.<\/li><li>No new emissions go to STEP native staking pool. This dilutes supply away from value productive TVL accruing activities.<\/li><li>Community reward emissions % is split between LPs vs Exchange Executors weekly. The % split may change over time. Current split at launch is 60% to Trade Executors 40% to LP Stakers<\/li><li>STEP also has incentivised liquidity pools which will receive new emissions with high Apy\/apr (Step\/Ray)<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/hzPVwELDLYoGv7KJqUjiUF9ANAdKS-XHkLUXLvwqpijqqDAfDgo8DU02aOaYly_MZXr5kqH4FpD91LR7nANAK3m_5Rs3aANrmdsQ84kRmSOkyPpVFFu7YxJtMLbEblHd3e7QSL6A\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Project_Highlights\"><\/span>Project Highlights<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The main functions of step.finance include<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Dashboard Overview<\/h3>\n\n\n\n<p>All the necessary information to display to users on Solana is provided by $STEP in the most intuitive and clear way including (Data will be automatically updated every 30 seconds)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Portfolio Overview<\/h3>\n\n\n\n<p>Pie chart showing all your assets in detail including yield farming positions, pending rewards<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/OqsstY8yq-fB4Ll2AWymmyfIaxazmJnml7vo8_RUGVevuqXvfn6a5q0Xs6Dxw2ydk3Spw0pMMHzWKRY3ZuXRVIzSNtJDUjVjZ1PNiAEH4VDskQ9QuO-qL1Bbg2wk0mtY5WfXBUwh\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Wallet Checking&nbsp;<\/h3>\n\n\n\n<p>Helps to check the tokens you have associated with an individual address (any project on sol like Raydium, Oxy) and merge options into 1 view and display the value over time in some base currency.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/CUWfVfZ66lLKTbt1MZYgoXgUNpiCFF5OozS5t31jo18C-PLXdngGl0AuHEn5f6zEGLITj7JRvVmGysvDtKFE4NNqWhTFwh8pUYAj957JpQfEDAeCUPQNbqtoGOjW405Q-ucbIs0V\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Yield Farming and stacking&nbsp;<\/h3>\n\n\n\n<p>Show all your farming, stacking or provide liquid on Solana<\/p>\n\n\n\n<p>Different from other dashboards, with a simple one-click you can Deposit, withdraw or claim reward directly from Step.finance (Great isn&#8217;t it)<\/p>\n\n\n\n<p>In addition, Step has recently integrated an auto-compound feature to help us maximize profits (Although in my opinion, this feature has not been completed compared to projects specializing in auto compound&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/e34eixtKso1A4dkPCdYxAT0OaWO83Ao39S2d2zBEdMDVL61dXnkUJFLS47w_8a1ys9V_Qgr4yg-96HiHGirxIoZuSu4YphWc5DajrFWMJQ4Mh2tObCNSRqJrZgaFZy7f2AMlRP1b\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Swap Aggregation<\/h3>\n\n\n\n<p>All Programs on Solana are composable and therefore liquidity can be dispersed between different pools and AMM schemes. Therefore, it is important to be able to ensure users receive the best possible deals on their swaps, and Step.finance becomes a well-placed DEX aggregator to provide swap aggregation. from within Step.finance<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/AwuS_S2AC37LC_zKWCzTB3LGQHaZxMOlHyVQY0-DxjXEL9m-_5sZozx-wct5wrkxUVqCaHA5b-84YzTty3TkzisRLkrL3vfdgqyokOuV1SnnchHT-GiimAkhJVCMCUx4JoPwxSkf\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Liquidity Pools<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/teDThL-TWaoS69tkZIc-tegqhyrYvjaBtDqUAn_6P0adbiSr5hn0iZarZ50aiQZVMObyFaYPRTOuAn0aL0KRFHOzDJ-VGgAM9iedXdG9JV0gK4Gm--j796yVA5QEnD5ZWvODt2by\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<p>Step.finance helps to check all pools on many different projects (At the time of writing step.finance supports displaying pools of Raydium, Serum and Orca)<br>Liquidity providers can check all necessary information of multiple pools at once ($liquid, supply, volume, and fees) saving you time and making more accurate decisions<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Investment Strategies<\/h3>\n\n\n\n<p>It&#8217;s just an idea at the moment and this feature is not available at Dapps yet as per step.finance wrote at docs:<\/p>\n\n\n\n<p>Step was founded in the February 2021 Solana Defi Hackathon as an automated strategy platform. This page will cover automated strategies like DCA, EMAs and RSIs, and others which users can enter into with potential in the future to enable users to make their own custom strategies.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Token_UseCase_and_Value_Accrual\"><\/span>Token UseCase and Value Accrual<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>No project does not want their project to be successful, which means that Step.finance generates good revenue for themselves and investors. Adds value to the token is a necessary and sufficient condition. Therefore there are several value accrual mechanisms for the token itself which will further generate positive interest and incentives in a positive feedback loop. The below is a list of value accrual mechanics that the team intend to implement on the Step platform:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Transaction fees<\/h3>\n\n\n\n<p>The most basic and simple value accrual is STEP taking a fee on certain interactions on the STEP platform (swaps, yield farms, automated strategies, bridges etc). The majority of this fee revenue goes to stakers of the STEP token (80%) with the remaining 20% sent to the treasury.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Buyback and distribute<\/h3>\n\n\n\n<p>The core value accrual mechanic of STEP is buyback of STEP tokens from revenue generated by transaction fees in the protocol which is then distributed to staker. This gives a native APY for staking the STEP token and aligns incentives of stakeholders and the team with the success of the STEP platform. This is awarded proportionally to the liquidity an LP stake in this pool.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Reducing supply emission rate<\/h3>\n\n\n\n<p>Supply emissions should reduce over time without any large cliffs (like evident with SWRV which did a 90% cliff in emissions that made their TVL fall from $700m to $3m and cause people to forget\/leave the project). The optimal scenario is a gradual reduction in new emissions over time at a set rate. For STEP this emission reduction will be 4% weekly of the community and ecosystem reserve. With a steady or increasing demand and a falling emission rate there reaches an inflection point where buybacks volume is greater than new emissions creating NET positive buy pressure on the STEP token.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Aggregation<\/h3>\n\n\n\n<p>&nbsp;A core part of the Step Finance platform is being an aggregator for various user actions like AMM Swaps and Yield Farms. Step.finance will implement a swap router on Solana for improved liquidity and price discovery in AMM swap pools and also offer a number of tools for yield farmers like single asset entry\/exit into LPs, auto compounding yields and managed yield farm vaults. Fees collected for these services will flow back to STEP stakers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Lockups<\/h3>\n\n\n\n<p>Incentivising users to take coins off the market is one way to reduce potential sell pressure and ensure given flat or growing demand that there is NET positive buy pressure. STEP intends to implement various lockup LP pools where tokens will be locked for a specified amount of time and be able to share in a higher rate of emissions or staking revenue compared with staking pools which allow immediate withdrawal.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Automated Trading Strategies<\/h3>\n\n\n\n<p>Step started as an automated strategy platform and our intent has always been to build out this functionality. There are various automated vaults and trading strategy contracts on Solana which STEP will be exposed to users on the Step dashboard. Step will charge a fee to enter and exit these vaults and potentially for some strategies a performance fee as well. These fees will accrue to STEP stakers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Stake for Access<\/h3>\n\n\n\n<p>There are a number of investment indicators, analytics, portfolio insights which Step plans to make available to users who are stakers of STEP. Stake-for-access is a superior model to subscriptions or paid plans and adds additional value to STEP token holders.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Fiat-Defi integrations<\/h3>\n\n\n\n<p>Step intends to implement arms-length widgets that can handle fiat on\/off ramps into Solana via Step. This brings more money into the Step ecosystem, puts it to productive use in Step strategies and swaps and ensures Step remains a focal point for access into and out of the Solana ecosystem. Step has a fiat partner onboard for this once we are ready for development.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Referrals<\/h3>\n\n\n\n<p>&nbsp;Referrals are a growing value additive mechanism in the crypto world with DeFi projects such as 1INCH utilising it effectively. One user may refer others via a weblink and earn a share of the fees. Step intends to implement this system for Swaps and potentially other automated strategies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Cross-chain Integration<\/h3>\n\n\n\n<p>Being multi-chain capable is a core principle at STEP finance, there are several bridges under development on Solana, we will support all of them and likely take a small fee on each tx. Adding additional blockchains is a path towards more TVL, users, revenue streams for STEP.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_buy_Step\"><\/span>How to buy $Step?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>STEP has been listed on a number of crypto exchanges like FTX, DEX&nbsp;<\/p>\n\n\n\n<p>You can buy STEP directly via the link: <a href=\"https:\/\/ftx.com\/trade\/STEP\/USD\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">here<\/a> (FTX exchange)<\/p>\n\n\n\n<p>If you are Sol enthusiast I recommend swap directly from <a href=\"https:\/\/app.step.finance\/#\/exchange\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Step DEX<\/a> or Raydium, Serum<\/p>\n\n\n\n<p>This is a direct <a href=\"https:\/\/docs.step.finance\/step-2-connect-+-fund-wallet-with-sol\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">tutorial<\/a> from step&#8217;s team&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Final_Thoughts_What_we_really_think_about_STEP\"><\/span>Final Thoughts: What we really think about $STEP?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It can be said that step.finance was unlucky when it was released at the right time BTC as well as the crypto market down, so the $Step token price decreased continuously from ATH of $ 7 to $ 0.27.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/PbF-1fqrK7g0OrV_3GmpishkU06J0ITWR7Cent4aXHrOmwZyLsIryxjXQBISdgvtj3b3S-n7UKHzu0n9JbXhfA6nTjQCJFCjgGHkcZsO1ZDqMj8T2OoWa1CKqLaa0bDX_OsB-2al\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<p>But Solana ecosystem still promises to be a fertile land and thrive in the coming time<\/p>\n\n\n\n<p>Growing coverage across of Step is getting bigger with 39.6k holders<\/p>\n\n\n\n<p>Become a liquidity provider for Step with high profit from APY<\/p>\n\n\n\n<p>As a great Dapps on Visualise, Analyse, Aggregate and Execute transactions across Solana, Step.finance will soon be back on the buying track when DEFI on solana explodes one more time<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/gl41ORGukoMn3fOVOhOj-bfARCMqbA9v-pSQjn2szjA1O9YIE9b33OR5mS_7Xo0nPxn3hpyvWwI3Oi9LxMZupWPmlZeRCkF8j0Frj1Iz1SIZjlc4y5d8mSbqHiO2pTc5WkhUuGF9\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<p>If investing in the solana ecosystem then Step.Finance is a project you should consider and put in your portfolio<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Step.Finance&nbsp; With the rapid development of Solana ecosystem having a Dapp that aggregates and optimizes dashboard like apeboard.finance or Debank is essential. Step.finance does more than that, users [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":2351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[302],"tags":[135,155,139],"acf":[],"_links":{"self":[{"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/posts\/2287"}],"collection":[{"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/comments?post=2287"}],"version-history":[{"count":1,"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/posts\/2287\/revisions"}],"predecessor-version":[{"id":6291,"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/posts\/2287\/revisions\/6291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/media\/2351"}],"wp:attachment":[{"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/media?parent=2287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/categories?post=2287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinwire.com\/wp-json\/wp\/v2\/tags?post=2287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}