Step Finance (STEP): Organization & Tokenomics
Step Finance is Solana's leading data insights platform, the “Front page of Solana” with over 2.4 million unique users and 51,000+ monthly active users. Keeping track of the 1400+ projects in the Solana ecosystem can be hard - there are DEXes, Staking, NFTs, Yield farms, Vaults and more. Instead of trying to individually manage and track where your money is across the vast and quickly growing Solana world, Step puts all the information in one spot - the Step Dashboard. To do this, Step has integrated with most of the Solana ecosystem and is indexing the data directly from the blockchain to later display as part of the Step Analytics product.
At Step, our goal is to onboard the next billion people into crypto. To accomplish this goal, we are providing high value products and services to our customers. Our core competency is data, that’s what we do - but to grow the number of customers for our products we need to think more broadly in how we will grow the entire ecosystem and ultimately, paying customers for our products. This has prompted us to acquire and build out several initiatives under the Step Finance (STEP) brand below:
Step Finance Dashboard & Analytics:
Realtime wallet data for any Solana address direct from the chain (https://app.step.finance/en/dashboard)
Realtime Data Analytics service for historical data of tokens and DeFi protocols (https://analytics.step.finance/)
Step Data Insights:
Weekly newsletters and quarterly reports for in depth analysis for activities onchain (https://stepdata.substack.com/)
Designed for sophisticated investors in the crypto space similar to Messari (https://twitter.com/StepDataInsight)
SolanaFloor:
Realtime NFT Data analytics (https://solanafloor.com/)
Solana’s first dedicated news outlet (https://solanafloor.com/news)
Solana Crossroads:
Solana’s first and largest community held conference with thousands of attendees (https://www.solanacrossroads.com/)
Focused on high growth markets around the world
Solana Allstars:
Solana’s first ambassador program similar to Binance Angels (https://twitter.com/SolanaAllstars)
In-person meetup events in cities around the world led by dedicated and engaged community members
The Next Billion Podcast:
Interviews and discussions with leaders in the crypto space (https://twitter.com/The_NextBillion & https://www.youtube.com/@The_NextBillion)
Feature documentaries with crypto leaders and builders
StepDAO:
Bounties paid for productive micro jobs related to Step projects and brands (https://www.stepdao.org/)
The one community which powers all projects
Step Finance (STEP) Organizational Goal
All of the products and services under the Step Finance brand either acquire and funnel new users to Step Finance products or directly generate revenue which goes to stakers (more on that below). The core metric of the Step protocol is to grow the number of Daily Active Users and generate revenue. Each project that is part of Step moves us towards this goal.
Step Finance Community & Social Channels:
Our Step Discord is the one discord discussion group for all above projects and Step related things. Additionally, our Step Finance Twitter account is the main organizational Twitter account and we have smaller accounts for our various initiatives under the Step Finance brand.
Discord:
Twitter accounts:
StepDAO Operations:
StepDAO sponsors bounties for both technical and non-technical work, paid in STEP, for initiatives which further the core goals of the Step community - namely growing users and growing revenue. There are various guidelines and task descriptions for anyone wanting to do bounties and reporting is open and public to the community. There are no plans for voting at the moment for StepDAO until we have a real use case.
The STEP Token:
The STEP token is the core mechanic behind all Step related projects with bounties only paid in STEP. All fee revenue generated by Step related projects is sent to the fee address which can only buy STEP from the market and send that to the STEP staking contract which is distributed to stakers. The APY for staking STEP therefore is a real yield with no dilution of minting new coins. More detailed mechanics can be found in our docs here. The STEP token is used in various ways in Step products below:
Step Finance Dashboard & Analytics:
Reward Options. Successful swaps on Step Finance Dashboard generate reward options for the user which, if the price of STEP is higher than the strike of the option, can be exercised for the STEP amount of the option. More details here
Fees generated by Settled Openbook/Serum balances, Swaps, Auto compounding Raydium farms are sent to the fee address
xSTEP balances are used for Swap discounts
Analytics subscription fees are sent to the fee address
Revenue generated from the Step Finance Solana Validator
Step Data Insights:
Newsletters/Reports revenue sent to the fee address (sponsorships, partnerships)
SolanaFloor:
Shi guardian revenues sent to the fee address
Advertising revenue sent to the fee address
Solana Crossroads:
Conference profits sent to the fee address (sponsorships, ticket sales)
Solana Allstars:
Program profits sent to the fee address (sponsorships, partnerships)
The Next Billion Podcast:
Podcast revenues (sponsorships) sent to the fee address
StepDAO:
All bounties paid in STEP
STEP Token Value Alignment
As all Step Finance brands drive more users to our products and services, more fees will be generated for token buybacks and staking APYs therefore all incentives are aligned for token holders in the success of the Step Finance organization. Additional token utility will be added over time.