Deep Dive into Step Ecosystem
Deep Dive into Step Ecosystem
Step-Finance: The front page of Solana
Index
Challenge overview
Genesis
Step-Finance: An introduction to the front page of Solana
What is step Finance?
Step Team
Features of Step Finance
Step ecosystem
Ecosystem Product Showcase
Step Finance
Step Analytics
Step DAO
Solanafloor.com
Solana crossroads
Step Data insights
Solana Allstars
The Next Billion
Tokenomics: STEP
STEP token numbers
STEP token distribution
Token burn
Token utility
Value creation
Value capture
Business model of step ecosystem products
Staking STEP and xSTEP
Mechanism of xSTEP token
How to stake STEP token
How to unstake xSTEP token
Using STEP tokens in Defi
Conclusion & Final Thoughts
References
Challenge Overview
Over the last few years, the Solana world has grown like crazy! So many cool projects popped up, like DeFi stuff, NFTs, and ways to pay for things. It's like a big playground for developers and regular folks.
But with all this cool stuff, there's a problem: it's kinda hard to keep track of everything. Imagine you're juggling 15 different balls at once! You've got to log in to different places, check your wallet, and maybe even use spreadsheets just to see what's going on with your money. Not fun, right?
Well, guess what? There's a protocol that solves all these problems! It's called Step Finance. This awesome tool brings all your Solana stuff together in one place. No more hopping around different websites or messing with spreadsheets. It's like having a personal assistant for your finances in the Solana world.
With Step Finance, you can easily see what's happening with your money across all those different projects. Whether you're into DeFi, NFTs, or just making payments, [solution name] makes it simple and easy. So say goodbye to the headache of juggling all those balls and hello to smooth sailing in the Solana world!
Genesis
Step Finance originated during a recent Solana Hackathon, where the idea emerged as a central hub for monitoring, visualizing, consolidating, and executing transactions across various smart contracts within the Solana ecosystem. Its journey began on March 26, 2021, with the launch of the foundational Alpha version. This initial release tracked a wide array of coins and LPs in the Serum ecosystem, utilizing the Serum AMM for swaps.
Since its inception, Step Finance aimed to create a unique user experience by providing detailed portfolio insights, top-tier portfolio metrics, automated investment vaults, aggregation across multiple swap pools, and simplified access to various yield farms. The overarching goal was to establish Step Finance as the go-to hub for portfolio management on Solana, offering a comprehensive dashboard and analytical platform for DeFi enthusiasts.
Step Finance aspired to be more than just a platform; it aimed to serve as the gateway for managing portfolios in the Solana ecosystem, providing an enhanced user experience. The platform's tokenomics were carefully crafted to promote platform engagement while incentivizing users and holders.
By seamlessly integrating with the Solana ecosystem and directly indexing data from the network, Step Finance aimed to onboard the next billion people into the world of crypto by delivering valuable products and services. The platform's evolution represented a dynamic and exciting venture within the ever-changing landscape of decentralized finance.
Step-Finance: An introduction to the front page of Solana
What is step finance?
Step Finance's core feature is its extensive portfolio dashboard, which stands as the most comprehensive one available on Solana. Step Finance beyond merely tracking your wallet, extending to encompassing 95% of the entire Solana ecosystem. Whether you're keeping an eye on portfolio token balances, AMM LPs, yield farms, or other assets, Step Finance offers an intuitive dashboard complete with diverse metrics and visual representations. Currently, Step Finance boasts a user base of over 2.4 million unique users, with more than 51,000 actively engaging every month.
Step team
George Harrap - Co-Founder: With a distinguished presence spanning over a decade in the cryptocurrency ecosystem, George Harrap has held various roles such as a miner, trader, builder, and entrepreneur. Notably, he is the founder of Bitspark, recognized as the world's first cryptocurrency remittance startup, which garnered substantial investments from notable angel investors and venture capitalists.
Aaronov - Co-Founder and CTO:
Our accomplished Chief Technology Officer, Aaronov, brings a wealth of experience and expertise to Step Finance. Proficient in C/C++, Solidity, and Rust, Aaronov is a strong advocate for decentralization, privacy, and the pursuit of financial freedom. His leadership and technical prowess play a pivotal role in shaping Step Finance's innovative approach within the decentralized finance landscape.
Features of Step Finance
User-Friendly Interface: Step Finance aims to become the ultimate destination for DeFi enthusiasts, offering a user-friendly interface accessible round the clock. It provides all the necessary functions and information required for making well-informed decisions in the DeFi space. More than just a platform, Step Finance serves as the primary gateway for managing portfolios within the Solana ecosystem.
Direct Interaction with Protocols: Users can directly engage with their preferred protocols from within the Step Finance dashboard, covering activities such as farming, pools, swaps, and automated strategies. While some of these value-added services may involve fees, they contribute to the buyback and distribution of tokens to STEP token holders.
Diverse Functionality: Step Finance offers a wide range of functionalities, including tracking wallet balances, visualizing LP tokens, exploring yield farming opportunities, managing DEX positions, implementing investment strategies, and aggregating swaps. It's not merely a platform; it's a vibrant ecosystem in itself.
Automated Strategies: Rooted in the Solana DeFi Hackathon, Step Finance integrates automated strategies like Dollar-Cost Averaging (DCA), Exponential Moving Averages (EMAs), Relative Strength Index (RSI), and more, empowering users to explore customized strategies.
Real-time Price Information: A standout feature of Step Finance is its provision of real-time cryptocurrency price information from various exchanges, enabling users to make informed decisions regarding the timing of their crypto transactions.
Portfolio Management Simplified: Managing crypto assets is streamlined with Step Finance, allowing users to effortlessly add their cryptocurrencies, view portfolio summaries, and track total current values, all from a single platform.
Price Alerts for Precision: Users can set up price alerts on Step Finance, ensuring timely notifications when a cryptocurrency's price hits a specific value, and facilitating prompt actions for buying or selling.
Innovative Features: Step Finance introduces innovative features such as an NFT Gallery for viewing, managing, and sharing NFTs on Solana, a Charitable Giving System, and performance opportunities, offering a holistic approach to asset management and engagement within the Solana ecosystem.
In essence, Step Finance is not just a platform; it's a 360-degree tool for crypto asset management, propelling users into the future of decentralized finance with a plethora of features designed to make every interaction exciting and rewarding. Step into the future of managing your crypto assets with Step Finance!
Step Ecosystem
Over time step team has acquired or started some new products and initiatives to strengthen the value accrual of STEP tokens. Here are those:
Step Finance:
A comprehensive dashboard providing data on wallet positions and enabling various on-chain actions, including staking, sending, swapping, compounding, and more.
Step Analytics:
Expanding on Step's extensive data integrations, this product focuses on Solana ecosystem-specific data analytics.
Step DAO:
The Step Finance DAO, where users engage in bounties for productive activities that contribute to the growth of the Step ecosystem.
Solanafloor.com:
Solana's largest NFT data analytics and news website.
Solana Crossroads:
Solana's inaugural and largest community conference is held annually in Istanbul, Turkey.
Step Data Insights:
Step's data analysis arm, producing regular newsletters and quarterly ecosystem data reports.
Solana Allstars:
In-real-life, twice-monthly events held globally, focusing on education and introducing new users to the Solana ecosystem and Allstars partner products, akin to Binance Angels.
The Next Billion:
Step's podcast is dedicated to showcasing the builders and entrepreneurs involved in onboarding the next billion people into the world of cryptocurrency.
Step Ecosystem Products
Under the guidance of visionary co-founders George Harrap and Aaronov, the Step Finance team embarked on an exceptional journey that birthed eight distinct projects and initiatives. It all began with the groundbreaking Step Finance, the trailblazing portfolio dashboard, which was unveiled on March 26, 2021, following its inception during the Solana Hackathon. Expanding their horizons, the team introduced Step Analytics to delve deeper into Solana ecosystem-specific data.
The advent of Step DAO provided a collaborative platform for users, offering bounties to nurture the burgeoning Step ecosystem. As their journey unfolded, Solanafloor.com emerged as Solana's premier NFT data analytics and news website, offering users comprehensive insights.
Undeterred, the team continued their mission with the inception of Solana Crossroads, the inaugural and largest community conference held annually in Istanbul, Turkey. They further solidified their commitment to data analysis with the establishment of Step Data Insights, which curates regular newsletters and quarterly ecosystem reports.
Launching Solan Allstars, a series of in-person events, the team aimed to educate and introduce new users to the Solana ecosystem and Allstars partner products, akin to Binance Angels. Wrapping up this inspiring sequence of projects, The Next Billion, a podcast spotlighting builders and entrepreneurs onboard the next billion people into crypto, underscored their dedication to inclusivity and innovation.
Through their strategic and visionary endeavours, the Step Finance team not only diversified their portfolio but also made substantial contributions to the growth and advancement of the Solana ecosystem.
We will see detailed information about all the products and initiatives in this section.
1. Step Finance
We already discussed the first and core product of the step ecosystem - step finance in the previous section. So rather let’s look at the features of step finance and how users can use those.
Dashboard
When you first dive into the Step Finance dashboard, start off by connecting your non-custodial wallet. After that, for a smoother experience, head over to the settings in the top right corner where you can pick your preferred currency and language. If you want to tweak things a bit more, you've got the option to set your network preferences and explore additional features from there.
Step Finance Dashboard Step Dashboard is undoubtedly the most powerful dashboard, why? well because it provides statistics on your Balances (Both spot and yield-bearing assets), DEX positions, Liquidity positions, Yield farming, Vaults, and NFTs positions all in one single place!!!!
Swaps
In the realm of decentralized finance (DeFi), a swap denotes the direct exchange of one cryptocurrency for another, obviating the need for intermediaries such as traditional banks. This process transpires through smart contracts, and intricately encoded lines of code, ensuring a transparent, secure, and efficient exchange of cryptocurrencies on the blockchain.
Step Finance's swap feature stands out by providing users with optimal options, leveraging diverse routes from various Decentralized Exchanges (DEXs) through the sophisticated infrastructure of the Jupiter aggregator. It is imperative to set slippage parameters to mitigate potential price variances.
Transaction history
Transaction history is the newest feature of Step Finance. This feature allows you to see all your previous transactions regardless of wherever they are being done!
NFT gallery
Users have the ability to showcase or view NFTs in their wallets through effective filtering. Within the details section, users can seamlessly transfer or burn their respective NFTs, accessing essential information like descriptions and other pertinent details. Furthermore, users can effortlessly exhibit their NFT collection to others by sharing a personalized gallery link.
Reward options
The Step Reward Options act as flexible Call Options, offering rewards to users participating in swaps on Step. These options work similarly to Call Options but without a fixed price. They're designed to incentivize engagement on the platform. Only users who have paid a swap fee in the last 5 days are eligible for these Reward Options.
The Reward Options are distributed proportionally to fee payers based on their contribution relative to others during the preceding 5 days. They become 'In The Money' if the STEP price exceeds the price set when the option was issued by 10%. Each Reward Option is valid for 15 days and involves 150k STEP tokens. These tokens are minted at the current STEP 24hr TWAP (Time-Weighted Average Price), with a strike price set at +10% above the TWAP.
Users receive these Reward Options at no cost through airdrops, based on the fees they've paid. Exercising an option requires a balance of USDC, with the USDC used for exercise directed to the Step Treasury. This USDC is then used to buy back STEP tokens, contributing to rewards for xSTEP stakes and establishing a floor price for STEP through strategic bids below the exercise price..
STEP staking
Detailed information about the staking of STEP tokens can be found in a later section of this article, so we will skip it for now!
You can use the step finance dashboard using this link:
https://app.step.finance/
Step Analytics
Step Analytics is an indispensable tool within the Step Finance ecosystem, offering a comprehensive suite of features for in-depth data analysis tailored to the Solana blockchain. Users can benefit from:
Real-time Insights: Step Analytics provides users with real-time data on various Solana ecosystem metrics, allowing for timely and informed decision-making.
Portfolio Visualization: The platform facilitates the visualization of portfolios, offering a detailed overview of holdings and their performance over time.
Yield Farming Opportunities: Users can explore current yield farming opportunities on Solana through a dedicated table, providing insights into potential returns and risks.
DEX Positions Management: Step Analytics enables efficient management of Decentralized Exchange (DEX) positions, offering a clear view of wallet balances, open orders, and other relevant information.
Automated Investment Strategies: Built on the foundation of the Solana Defi Hackathon, Step Analytics integrates automated strategies like Dollar-Cost Averaging (DCA), Exponential Moving Averages (EMAs), and Relative Strength Indices (RSIs), offering users the flexibility to employ various investment tactics.
You can use the step finance dashboard using this link:
https://analytics.step.finance/defionsolana
Step DAO
StepDAO stands as a dynamic initiative committed to active community involvement and contribution. By tasking members with various bounties, participants have the opportunity to earn cryptocurrency for their valuable contributions, fostering the growth of the Step ecosystem. This inclusive platform emphasizes a diverse range of contributions, encompassing both technical and non-technical tasks.
While StepDAO presently doesn't incorporate a voting plan due to the absence of identified use cases, its sponsorship of bounties spans across Social Media/Community, Discord, Language/Translations, Developer Bounties, and Content Creation categories. To engage, individuals need to:
Choose a Bounty: Select a bounty from one of the specified categories.
Complete Criteria: Fulfill the specified criteria detailed in the bounty description.
Submission Process: Prepare and submit a Bounty Completion Form, including necessary information and a Solana wallet address for receiving SPL tokens.
Review and Payout: Submissions meeting the eligibility criteria will be reviewed within one week, and successful participants will receive payouts in STEP tokens on the Solana network. StepDAO's user-friendly approach empowers community members to actively contribute and earn rewards seamlessly.
You can use the step finance dashboard using this link:
https://www.stepdao.org/
Solanafloor.com
The step finance team successfully acquired Solanafloor.com in July, 2022.
Solanafloor.com is a pivotal platform in the Solana ecosystem, providing comprehensive real-time analytics and insights for NFTs on the Solana blockchain. Recently acquired by Step Finance, Solanafloor enhances the Step product offering by bringing in the expertise of its founder, cryptowazza, and the entire Solanafloor team. This platform goes beyond conventional NFT analytics, offering up-to-the-minute data on project listings, indices, and crucial metrics for Solana NFT traders. The dedicated NFT module, the NFT Gallery, acts as a centralized hub, aggregating pricing and metadata from multiple marketplaces, providing users with the most accurate and comprehensive dataset available.
Moreover, Solanafloor strives to be a neutral meeting point for various NFT communities. With plans to expand its offerings, including written guides, content, videos, podcasts, and more, Solanafloor is positioned as a valuable asset within the broader Step ecosystem. It ensures users stay well-informed about the latest developments and make informed decisions in the dynamic world of Solana NFTs.
Solana Crossroads
Solana Crossroads takes centre stage as the annual community conference hosted in the vibrant city of Istanbul, Turkey. This pivotal event serves as a nexus for crypto enthusiasts, Solana supporters, and Web3 community members to engage with leading minds in the crypto space. Organized by the dynamic support of Step Finance, Solana Crossroads has secured partnerships with influential entities including the Solana Foundation, The Defiant, Cointelegraph, Coingecko, and more.
The upcoming 2024 edition, scheduled from Friday, May 10th to May 11th, promises an enriching experience featuring educational sessions, networking opportunities, and celebratory moments. For those eager to explore the conference's agenda, the detailed schedule is accessible here.
Step Data insights
Step Finance is on a mission to keep evolving and adding more value to its platform. One significant update is the introduction of Step data insights, which rolled out successfully on June 11, 2022. This cool addition makes it super easy for Step users to keep tabs on their wallets in real time. Now, they can access important metrics like APY, TVL, LP, whale movements, and other data from public blockchains and various protocols. With Step Finance, users get a user-friendly dashboard that stands out for its protocol-specific insights. It's like having a personal assistant for your finances, but cooler!
But Step Finance isn't stopping there. They're also working smart to bring in more users, which means more transactions and revenues in the long run. To attract and engage the community, Step rolled out a newsletter in June 2022. This newsletter covers everything from Solana NFTs to exciting opportunities within the Solana ecosystem, DEX data, recent events, on-chain Solana data, and much more. It's like getting a weekly digest of all the hot stuff happening in the crypto world, right in your inbox. With this multifaceted approach, Step Finance is ensuring it stays ahead in providing valuable insights and opportunities to its ever-growing community.
Solana Allstars
Ever heard of Binance Angels? Wondering how Binance managed to secure a 90% market share in over 100 countries? Look no further than the Binance Angels program, a highly successful global initiative featuring in-person micro-events. Superfans are rewarded through various incentives, such as merchandise and referrals, to organize meetups in their local communities.
These regular gatherings, attended by 50 to 100 people, provide invaluable insights into Binance products, usage, and general crypto education. Solana Allstars takes inspiration from this model and enhances it with additional perks.
Solana Allstars in a Nutshell:
In-person events are hosted globally by community superfans within the DAO.
Attendee-focused Solana ecosystem onboarding and education.
A powerful distribution mechanism for project partners, allowing them to showcase their products to thousands of people every month.
Events are organized, managed, and run by knowledgeable community members known as Allstars.
Outcomes and metrics are measured by the Allstars and periodically reported to the DAO in collaboration with the Step growth team.
Scalable without the need for direct oversight from Step, leveraging the local knowledge and expertise of the community.
Integration with Crossroads, where the mini-meetup style Allstar events seamlessly lead into larger Crossroads events a few times a year.
A customer acquisition strategy that directs traffic to major Crossroads events, creating a continuous cycle of engagement.
What's even more exciting? The Allstars program has already kicked off, and at the launch of the DAO, a professionally crafted video showcasing the first event in Nigeria will be presented. Get ready to witness the power of community-driven engagement in action!
The Next Billion Podcast
Dive into the world of cryptocurrency with "The Next Billion," an enlightening podcast series presented by Step Finance. This podcast shines a spotlight on visionary builders and entrepreneurs committed to ushering in a billion people into the exciting realm of crypto. Leveraging Step Finance's core expertise in data and content creation, the podcast orchestrated and hosted by the esteemed George Harrap, fondly known as the 'Stepfather,' unfolds on YouTube. Each episode, crafted like a documentary, provides in-depth coverage of its subject, offering a comprehensive exploration of every facet. "The Next Billion" is a must-add to your playlist, promising an insightful and educational journey into the vast landscape of cryptocurrency.
Tokenomics: STEP
STEP token numbers
Initial Max supply: 1,000,000,000
Current Total supply(Total Supply = Initial Max supply - burned tokens): 630,106,792
Circulating supply: 376,595,871
Initial emission period: 2 Years
Weekly emission Reduction: -4%
STEP token distribution
Presale-investors Lockup: 2 years vesting period. 50% available after 1 year, 50% available in year 2.
Team Lockup: Lockup over 2 years vested in 25% increments every 6 months.
In Oct, 2021. The step team Introduced a token-burning model with the new Step Transaction Executor Emissions Model Only. This action was taken to ensure that there does not occur in the future where a small number of people end up with an overwhelming amount of supply, this would negatively impact the investability of STEP and therefore this burn better aligns with the token-holders.
Token Burn
50% of Team tokens yet to be emitted will be burned (75,000,000 STEP)
50% of Community Pool Emissions will be burned (232,398,073 STEP)
50% of the Treasury will be burned (57,495,135) STEP
50% of Airdrop Supply will be burned (5,000,000 STEP)
The total burned amount will be approximately 369,893,208 STEP
This will bring Total Supply down to: 630,106,792 STEP
Token Utility
Utility: Staking
Value Creation
Step Finance generates fees for token buybacks and staking APYs as more users are attracted to its products and services. This alignment of incentives benefits token holders and the success of the Step Finance organization. Over time, additional token utility will be added to enhance the value of the token.
Value Capture
Step Finance's core mechanic behind all its related projects is the STEP token. Bounties are only paid in STEP, and all fee revenue generated by Step-related projects is sent to the fee address, which can only buy STEP from the market and send it to the STEP staking contract, where it is distributed to Stakers. The APY for staking STEP is a real yield with no dilution of minting new coins.
Step Finance has implemented several value accrual mechanisms for the STEP token to ensure its revenue generation and value addition. These mechanisms include:
Transaction Fees: STEP charges a fee on various interactions on the platform, with 80% of the fee revenue going to STEP stakers and the remaining 20% to the treasury.
Buyback and Distribute: Revenue generated from transaction fees are used to buy back STEP tokens, which are then distributed to stakers, creating a native APY for staking the STEP token.
Reducing Supply Emission Rate: STEP plans for a gradual reduction in new emissions over time at a set rate, aiming for a scenario where buyback volume is greater than new emissions, creating a net positive buy pressure on the STEP token.
Aggregation: Step Finance acts as an aggregator for various user actions, and the fees collected for these services flow back to STEP stakers.
Lockups: STEP intends to implement lockup LP pools to reduce potential sell pressure and ensure a net positive buy pressure.
Automated Trading Strategies: Step will charge a fee for users to enter and exit automated vaults and trading strategy contracts, and these fees will accrue to STEP stakers.
Stake for Access: Users who are stakeholders of STEP will have access to various investment indicators, analytics, and portfolio insights.
Fiat-Defi Integrations: Step plans to implement arms-length widgets for fiat on/off ramps into Solana, bringing more money into the Step ecosystem.
Referrals: Step intends to implement a referral system for swaps and potentially other automated strategies.
Cross-chain Integration: STEP aims to support multiple blockchains and take a small fee on each transaction.
Business Model of Step Ecosystem Products
Step finance & analytics: Successful swaps on the dashboard generate reward options for the user, which can be exercised if the price of STEP is higher than the option's strike price. Additionally, fees generated by Settled Openbook/Serum balances, swaps, auto-compounding Raydium farms, and analytics subscription fees are sent to the fee address.
The fees for swapping on STEP on 0.3%, with 0.2% of those fees going to LPs and the other 0.1% going to stakers. Swapping through multiple pools when a trade has to be routed has a maximum fee of 0.52% with 0.4% going to LPs (0.2% for each pool) and 0.12% going to STEP stakers.
Step Data insights: Revenue generated through sponsorship/partnership for Newsletter/reports are sent to fee address.
Solana Floor: Shi guardian and Advertisement revenue is sent to fee address.
Solana Crossroads: Conference profits are sent to the fee address.
Solana Allstars: Program profits are sent to the fee address.
The Next Billion Podcast: Podcast revenues sent to the fee address
Staking STEP and xSTEP
Staking the STEP token allows holders to earn yield from the revenue generated by the Step Finance protocol. When a user stakes their STEP, they receive xSTEP, which represents their stake in the staking vault. The xSTEP token is movable and compatible with other protocols, similar to any other SPL token.
xSTEP is a rebasing token, which means the user does not need to claim his/her rewards rather rewards will be distributed when the user unstake xSTEP tokens and he/she receives more STEP tokens.
Mechanism of xSTEP tokens
xSTEP signifies ownership of STEP that has been staked within the staking vault. The Step Finance protocol accrues fees from users engaging with Step products over time, and these fees are directed to the vault.
The vault receives STEP fee revenue, and this is distributed proportionally among stakers.
xSTEP, an SPL token, is transferable, tradable, and interoperable with any other protocol.
It possesses a 'price' reflecting the total STEP beyond the staked amount, which increases as more fee revenue is added to the vault.
When a user unstakes their xSTEP, they receive payment in STEP based on the current xSTEP:STEP price, and the xSTEP is subsequently burned.
The value of xSTEP always exceeds that of 1 STEP. The APY linked with xSTEP represents its price over a 365-day period.
As an illustration, in the initial funding period, 5000 STEP was deposited into the vault, and 10155788 STEP was already staked. The APY is computed as: (5,000/10,155,788) * 365 * 100 = 17.97% APY.
How to Stake STEP
Begin by accessing the 'Step Staking' section located in the left-side menu after successfully connecting your wallet.
Next, enter the desired amount of Step you wish to stake and click the 'Stake' button. The quantity of xSTEP you obtain will be determined by the existing xSTEP price, as explained earlier.
How to unstake xSTEP
Go to the 'Unstake' tab located on the same page, then enter the quantity of xSTEP you intend to unstake. You will be granted an amount of STEP by the previously explained xSTEP price.
Using Step tokens in Defi
STEP token has various third-party integrations.
Solend
Embark on an exciting journey with Solend, where you can not only contribute but also borrow STEP on lending protocols. Earn interest rates based on the STEP pool's utilization rate, giving you the flexibility to explore various strategies like long/short positions and leverage, tailored to your preferences.
Orca
Immerse yourself in the Orca community, offering a variety of STEP-concentrated liquidity pools. These pools, crafted with STEP users in mind, act as efficient market-making mechanisms, providing enhanced liquidity and exciting trading opportunities just for you.
Raydium and Jupiter also have dedicated pools for STEP tokens.
Conclusion & Final Thoughts
The step team has developed cutting-edge products and has started various initiatives. Revenue generated by all these products and initiatives goes back to the step fee contract and all of this revenue is used to buy back step tokens from the market and distribute them back to step token holders. With more and more projects and traction coming to Solana we can expect more users using step products, ultimately more revenue getting generated and more benefits to step token holders.
References
https://docs.step.finance/
https://stepfinance.medium.com/
https://twitter.com/StepFinance_
https://medium.com/@marcusm4ximus/deep-dive-step-finance-d97058f46ea8
https://academy.bit2me.com/en/que-es-stepfinance/
https://www.stepdao.org/organization-tokenomics
https://www.step.finance/learn
https://analytics.step.finance/
https://analytics.solanafloor.com/
https://www.solanacrossroads.com/
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