Step Finance

Step Finance positions itself as a central gateway to the Solana blockchain ecosystem, originating from a Solana hackathon in February 2021. The project was co-founded by George Harrap, a long-time crypto entrepreneur with experience dating back to being an early Bitcoin miner in 2011 and later co-founding a crypto remittance company in 2014. Harrap and his team identified a gap in the Solana ecosystem for a unified platform to manage the fragmented DeFi landscape.

The core of Step Finance's offering is its portfolio management dashboard, which allows users to visualize, analyze, and execute transactions across the vast majority of Solana protocols from a single interface. The platform aggregates a user's entire on-chain activity, including token balances, DeFi positions in yield farms and liquidity pools, and NFT holdings, providing a comprehensive overview of their net worth. This addresses the challenge of tracking assets scattered across numerous, often siloed, projects within the rapidly expanding Solana ecosystem. The platform boasts coverage of approximately 95% of all protocols on Solana, serving over 350,000 monthly active users. Step Finance caters to both individual retail users and institutional clients, offering a Data API for enterprise-grade access to its indexed Solana data.

The company generates revenue through fees on value-accrual services offered directly on the platform, such as automated compounding of yield farming rewards, which incurs a 0.2% fee on the amount claimed. The business model is deeply integrated with its native utility token, STEP. 80% of the fees generated by the protocol are used to buy back STEP tokens from the open market, which are then distributed to users who stake their STEP tokens. The remaining 20% of protocol revenue is directed to the company's treasury to fund ongoing operations and development. This tokenomic structure is designed to drive platform usage and reward active participants. In April 2021, Step Finance secured $2 million in a funding round led by Alameda Research to fuel its growth.

Beyond its primary dashboard, Step Finance has expanded its ecosystem through strategic acquisitions. These include SolanaFloor for NFT analytics and market data, and Remora Markets, which signals an entry into the tokenized Real World Assets (RWA) sector. This suite of products provides users with tools for detailed performance tracking, transaction history analysis, and management of complex positions like margin trading and staking. Users can directly interact with various protocols to swap tokens, provide liquidity, and claim rewards without leaving the Step Finance interface.

Keywords: Step Finance, Solana, DeFi dashboard, portfolio management, George Harrap, crypto analytics, STEP token, yield farming, liquidity pools, NFT tracking, Solana ecosystem, crypto portfolio tracker, on-chain data, DeFi aggregator, blockchain analytics, SPL tokens, crypto asset management, xSTEP staking, SolanaFloor, data API