What If….Call Options as Rewards

A Stepper Exercising Reward Options

Aaaaaannnd now for the preview of the next major feature from Step. Something genuinely new but with inspiration from Andre’s post months ago on how it could be achieved with a Step themed twist.

As announced previously, Step no longer emits tokens for LPs, we think this is wasteful and unproductive as a customer acquisition cost and detrimental to token holders through dilution and mercenary farm and dumps. The question is then, if there will no longer be LP emissions, what will happen to the existing supply of STEP in the community pool? Enter: Reward Options.

Reward Options is a working name (subject to change) of what we are calling the airdropping of STEP Call options on Swappers on the Step AMM. They’re slightly different to a real Call Option as they have no ‘price’ and are non-transferrable so we are calling them ‘Reward Options’ for now but the premise is fairly straightforward:

  • If you use Step’s AMM and pay fees this is a productive action for the protocol

This is a huge Step forward and something that aims to achieve these goals:

  • If you pay fees to Step you are being productive to the protocol and we are rewarding that behaviour

As you can see this new dynamic adds a lot of amazing new game theory and benefits to AMM swappers, STEP token holders, LPs and the community at large. We haven’t seen this model being deployed anywhere else and we are excited to bring it to market soon!

But ser wen launch?

Soon ;) we are still in the final stages of testing the contracts and building the UI we hope to have this done before end of year.

Some details are set to change and we will adjust them prior to release!

--

--

Step Finance is the front page of Solana. Visualise, Analyse, Aggregate and Execute transactions across Solana in one easy to use Dashboard

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Step Finance

Step Finance is the front page of Solana. Visualise, Analyse, Aggregate and Execute transactions across Solana in one easy to use Dashboard