Step Finance

Step finance (STEP) is a platform that allows users to perform transactions on Solana (SOL) contracts for economic and faster transactions. Users can also visualize, manage their profile, and monitor the token balance in one place. Apart from this, users can also swap their assets, engage in liquidity pools, view, manage and share non-fungible tokens (NFT) on Solana, monitor yield farming, and make charity donations. Liquidity pools refer to locking funds in smart contracts to use later for trading, lending, staking, etc. 

According to its whitepaper, the users must keep some SOL (Solana’s currency) as a balance in their crypto wallet. The users can utilize this balance to pay small fees required by the platform while doing a swap or interacting with the blockchain. Moreover, users can interact with their favourite protocol on the platform to claim farming rewards, enter or exit pools, execute swaps, etc. 

STEP is the native token of the Step finance platform. Token holders can utilize STEP tokens to make transactions on the STEP protocol. Also, when users stake STEP, they receive xSTEP in return. xSTEP is an SPL (Solana program library) token that users can trade, move or utilize in any other protocol. The xSTEP represents over and above the staked amount. The staking contract distributes STEP to the token holders. 

The platform burns the tokens to ensure that a small number of people don’t own a huge amount of token supply.  The act of transferring a token to an account that can only receive them in order to permanently remove the tokens from the supply is known as "Burning" or "Coin Burning" in cryptocurrency. Platform users can supply and borrow STEP tokens on the lending protocol and earn interest. 

George Harrap and Aaron co-founded the Step finance platform. George has a decade of experience with blockchain and has been a miner, trader, and built six exchanges in the past. Aaron has experience as C/C++/Solidity/Rust developer and advocate for decentralization, privacy, and pursuit of financial freedom.  

The Step finance (STEP) platform has a maximum supply of 630 106 792 STEP.