STEP Emissions Migration
STEP Emissions have now ended on the Raydium STEP/USDC pool and this pool will soon be deprecated by Raydium. As discussed in our last few blogs, we will soon be launching the Step AMM which will have new emission pools (STEP/SOL and STEP/FTT to begin, more later) however this is still undergoing development and testing. We expect the new AMM to be ready in a few weeks maybe sooner with emissions beginning shortly after once we have completed the new emissions contract and had it reviewed by curated third parties. We recommend for users to withdraw their LP from Raydium when they can.
This means there will be a small period in which there will be no emissions pool for STEP LPs. As noted previously, for the weeks of our emission schedule that there will be no emissions happening they will be removed from the projected circulating supply and returned to the community pool at the end of the 2 year period. This means less than the predicted emissions will be emitted for LPs.
If you are looking to stake your STEP there are plenty of options available currently from third parties below.
Until the new Step AMM is ready with juicy new pools you will have a few options for your STEP.
Withdraw Raydium STEP/USDC LP
You can unstake and withdraw STEP/USDC from Raydium and you will get in return STEP and USDC separately.
Option 1: Restake at Orca STEP/SOL
orca.so has a STEP/SOL LP which doesn’t have emissions however we will also support STEP/SOL on the Step AMM soon so if you’d like to get pricing exposure to the new pools before they’re live, this is an option. When new incentivised pool launches you’ll be able unstake from Orca and move to the Step AMM seamlessly with the same base currencies.
Option 2: Single Asset Staking on Acumen
acumen.network have a single asset pool for STEP where you can supply STEP and earn a return.
Option 3: Single Asset Staking on Solyard
solyard.finance have a STEP single asset staking pool for STEP too where you can earn yield in their native token.
Option 4: Do nothing till Step AMM launch
Another option is after you unstake from Raydium to wait till the new pools are ready and just hold tokens in your wallet.
We are hard at work to bring the new AMM online as soon as possible and also our new emissions contract. The Step AMM will bring a bunch of new and interesting features in addition to increasing revenues for STEP stakers and providing a new liquidity sink for STEP. We will be posting more information on that once it is ready.