The Step Finance team is excited to announce today that we will soon be launching the $STEP token, a native Solana utility token on the 24th April 2021. Exact timing we will be providing over the coming weeks as we finalise the listing contracts with our IDO partner Raydium. IDO will be at a fixed price on a first come first serve basis. The STEP token will be core to the value accrual mechanics of the Step.finance platform and the team has spent alot of time crafting the optimal mechanics with swaps, automated strategies, yield farms, staking pools, bridges and data visualisation all involving $STEP in some capacity.
Over the coming weeks the team will be releasing further information on the tokenomics behind STEP and many of the incentive structures we will be putting in place. As always, the Step team is working closely with the DeFi and Solana community to ensure a smooth and successful launch and strong value accrual over time. The $STEP token will be purely a utility token to begin with, governance functions will not be a priority for the time being however over time we see Step moving towards a more traditional DAO as the tools evolve on Solana to best manage that transition.
The focus for the Step team over the coming weeks is continuing our many integrations underway, polishing and bug fixing the current Alpha and preparing for the launch of the STEP token. You can stay up to date with our progress by following us on Twitter, join our Discord or on Telegram