Step Staking Live
Today we are announcing STEP staking going live in the form of xSTEP!
We are delighted to be launching this today as it completes the first Step in closing the loop in our tokenomics from value accruing products to STEP stakers. Step has many existing and planned future value accruing functions of which a fee is charged. 100% of this fee is then sent to the treasury wallet, from this wallet periodically treasury will exchange whatever currencies, LPs or otherwise that accrue to the treasury wallet into STEP and then send it to the xSTEP contract. Steppers can deposit their STEP in exchange for xSTEP. Once STEP enters the xSTEP contract stakers receive a pro-rata proportion of this STEP which they can withdraw by unstaking their xSTEP and receiving STEP.