Steer - Staking
A non-custodial mechanism to incentivize long-term participation and align the interests of token holders with the overall success of the protocol.
Staking app has already distrbuted over 2m+ rewards, across 7 chains and with 10 protocols and has genreated over 15m+ liquidity.
Types of Staking
Steer Protocol offers two types of staking:
- Protocol Token Staking: Staking of your protocol's native token.
- LP Token Staking: Staking of LP tokens, incentivizing participation in providing liquidity into specified pools.
- Miscellaneous Token Staking: Steer can set up staking programs unrelated to LP tokens and protocols.
Steer also offers lockable time weighted staking pools is also an option, where users can lock their staking tokens for longer period of time in exchange for proportionally more rewards.
Staking Process
Protocol Token Staking
- User stakes the protocol token and receives a reward in the form of a single or dual reward payout.
- If the staking is time-locked, the user receives the reward payout at the end of the period when they can reclaim the staked token as well.
LP Token Staking
- Liquidity providers get an LP token as a receipt token for providing liquidity into Steer vaults.
- The LP token acts as a stake token for the staking pools and any reward token can be given out. The reward token can be a single token or a dual reward token.
Steer Stake Pool APR
The APR is a dynamically calculated metric that fluctuates with each block time. It is determined by dividing the total rewards allocated to a pool by the total amount of tokens staked in that pool. This constant reassessment of APR is a result of the ever-changing balance between tokens being staked and unstaked within the pool.
Reward Distribution
Steer protocol staking has a linear distribution reward model, where the rewards are distributed based on each block timestamp.
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