Welcome to the Front Page of Solana with Step Finance
This is a one-stop resource for you to get up to speed with Step Finance; the Front Page of Solana.
There’s so much buzz about Solana lately and it’s extra difficult for new users to explore the Solana blockchain on their own; even degens can’t keep up with the growth rate on Solana — every day we have new apps and protocols popping up on Solana.
On Defillama, we have about 109 protocols under DeFi Solana.
On DappRadar, there are +220 dApps on Solana.
Navigating these apps without help is a burden; you can’t even talk about searching for onchain data and analytics on Solana.
So how can a user or newbie explore Solana with ease?
At one glance, a user should see the total digital asset net worth, wallet balance, NFTs, domain names, Liquidity pools, tokens, farms, and positions that the user may have associated with their wallet, all displayed on a seamless dashboard using portfolio visualization.
This is what Step Finance gives you.
Are you excited yet?
Let’s read on. This deep dive article/ research covers:
- an introduction to Step Finance,
- a brief history of Step Finance,
- the Step Finance protocol,
- the problems Step Finance solves,
- kickstarting your day with Step Finance,
- Step DAO and governance with $STEP,
- the pros and cons of Step Finance, and
- my exciting outlook for Step Finance in 2024.
An Introduction to Step Finance
Let’s say you’re a DeFi/ NFT trader and you always log on to crypto Twitter every morning by 6 am and repeat the same thing every 3 hours — it would be difficult to aggregate all the relevant data you need to make informed financial decisions daily.
Step Finance fixes this.
StepFinance is a crypto asset management platform that allows users to manage their cryptocurrencies efficiently and securely. The platform provides an array of features, including a real-time price information display and the ability to set up price alerts, streamlining the management of assets.
Step Finance serves as a multi-faceted platform, providing users with a central dashboard to navigate the complexities of decentralized finance and NFTs on Solana. Its user-centric design, robust architecture, and commitment to innovation set it apart as a valuable resource within the crypto community.
In my own words, StepFinance serves as a comprehensive tool for overseeing and managing crypto assets on Solana.
As an integral part of the Solana ecosystem, Step Finance offers a sophisticated platform designed to streamline user experiences and facilitate seamless interactions with various decentralized applications.
Step Finance is that tool you need to click open every morning by 6 am to get an instant pulse of the market.
Wait, don’t open this Solana tool yet, let’s see how it all started.
A Brief History of Step Finance
Born out of the Solana DeFi hackathon in February 2021, Step Finance emerged with a mission to address the challenges inherent in DeFi on the Solana blockchain.
Understanding the importance of user-friendly interfaces and comprehensive analytics, Step Finance has rapidly evolved to become a key player in the DeFi space.
In 2021, Step Finance received funding of $2,000,000 via a private sale from 3Commas and 5 other investors.
The Step Finance goal — become the central location to track, visualize, aggregate, and execute transactions across multiple smart contracts in the Solana ecosystem.
Since then, Step Finance has grown to become the Front Page of Solana including purchasing Solana Floor in June 2022.
Awesome right?
Yeah but wait, why is Step Finance called the Front Page of Solana?
Yes, I’ll tell you why.
The Step Finance protocol
If I am on the “Front Page” of your phone screen or laptop it means you want to see me regularly and I am 😎valuable to you.
That’s the same thing with Step Finance. As the Front Page of Solana, Step Finance displays all the important details of Solana as a blockchain in one glance.
Step Finance is that page that DeFi users and NFT traders open perpetually, to access all the functions and information they need to make informed decisions.
Ask Harrap, his default home page is Step Finance. It’s as simple as that.
At one glance, a user should see the total digital asset net worth, wallet balance, NFTs, domain names, Liquidity pools, tokens, farms, and positions that the user may have associated with their wallet, all displayed on a seamless dashboard using portfolio visualization.
As of today, Step Finance boasts over 2.4 million unique users and is home to 51,000+ monthly active users. These 51,000 monthly users have 3 common problems solved:
The Problems Step Finance solves
Fragmented User Experience
Users often face a fragmented experience when interacting with multiple DeFi protocols and NFT marketplaces on Solana, leading to inefficiencies in asset management and app interoperability.
Step Finance’s central dashboard provides a unified interface, streamlining the user experience by allowing users to manage various assets and access multiple protocols from a single platform.
Solana Crossroads acts as a central hub connecting users with different protocols, fostering collaboration, and enhancing the overall connectivity between various dApp communities.
I mean just look at how unified the entire Solana community was during the launch of the JUP token. Sleek, smooth, and seamless. Step Finance played its unique role.
Lack of Comprehensive Analytics
Previously, users often struggled with obtaining comprehensive analytics and insights across different DeFi protocols and NFT platforms, hindering their ability to make informed investment decisions.
Step Analytics offers robust data visualization tools and real-time insights, empowering users with comprehensive analytics for better decision-making.
Governance Participation Challenges
Engaging in decentralized governance can be complex, and users might find it challenging to actively participate in decision-making processes for the platforms they are invested in.
Step DAO as one of the foremost DAOs facilitates decentralized governance, allowing the community to participate in decision-making actively and ensuring a more democratic and inclusive governance model.
Optimization and DeFi Complexity
Optimizing DeFi strategies and engaging in DeFi on Solana can be very confusing, especially for users who may lack advanced technical skills.
Solana Floor, a product of Step Finance, focuses on optimizing decentralized finance strategies, providing tools and resources to simplify yield farming and enhance overall asset optimization.
There’s so much to know about Step Finance. So how can a user leverage Step Finance maximally?
Kickstarting your day with Step Finance
You can do everything with Step Finance except, of course, shutting down the Solana network.
By 6 am you’re up, the next thing is:
Step Dashboard: Visit https://app.step.finance/en/dashboard and connect your preferred Solana wallet.
- Features: The Step Finance dashboard is a comprehensive portfolio tracker and visualizer. Acting as a centralized hub, this dashboard offers users a singular point of control to monitor and manage their various DeFi assets efficiently.
- Use Cases: DeFi and NFT traders as well as other Solana data providers.
Step Analytics: Visit https://analytics.step.finance/
- Features: Step Analytics offers users an array of data visualization tools, empowering them to make informed decisions. From historical trends analysis to real-time insights, Step Analytics provides a comprehensive overview of the Solana DeFi landscape.
- Use Cases: Traders and investors leverage Step Analytics to optimize their strategies, gaining a competitive edge in the dynamic world of decentralized finance.
Solana Floor: Visit Solana Floor on Twitter or blog.
- Features: Solana Floor is your Solana news hub, aggregating all relevant news and providing users with the latest insights, trends, and articles about Solana DeFi, NFTs, airdrops, and upcoming events.
- Use Cases: For traders, NFT collectors, Airdrop hunters, Media companies, News outlets, and Government agencies.
Solana Crossroads: Check your event schedule here.
- Feature: Solana Crossroads is an annual Solana conference held in Istanbul, Turkey, connecting developers and users with various DeFi protocols on the Solana blockchain. Through seamless integration, it enhances user accessibility and fosters collaboration between different projects.
- Who can attend: Developers, blockchain enthusiasts, NFT collectors, news outlets, community advocates, educators, investors, and regulators.
Step Data Insights: Visit for daily updates and here for the weekly newsletter.
- Data Sources: Step Data Insights utilizes a diverse range of data sources, providing users with comprehensive analytics to guide their decision-making processes.
- Informed Decision-Making: Users leverage Step Data Insights to gain a deep understanding of market trends, asset performance, and other critical data points, enabling them to make informed investment decisions.
Ummm, wait, that’s a lot to remember, so let’s do a quick recap of our 6 am daily activity:
- Step Dashboard: Visit https://app.step.finance/en/dashboard and connect your preferred Solana wallet.
- Step Analytics: Visit https://analytics.step.finance/ for your data analytics.
- Solana Floor: Visit Solana Floor on Twitter or blog.
- Solana Crossroads: Check your event schedule here.
- Step Data Insights: Visit for daily updates and here for the weekly newsletter.
Okay, that stepped-up stretch is enough, back to exploring Step Finance at 6 am.
The Next Billion Podcast: Visit Spotify, YouTube, or Solana Floor.
- Feature: The Next Billion podcast is birthed by Step Finance. It focuses on the stories of innovative web3 builders with George Harrap as the host. This podcast aims to boost web3 and Solana’s visibility globally.
- Global Audience: Anyone.
Solana Allstars: Visit the Discord.
- Promoting Collaboration: Similar to Superteam and Binance Angels, Solana Allstars is a Solana ambassador program powered by Step Finance. It plays a crucial role in promoting collaboration and innovation within the Solana ecosystem. By bringing together key players, it creates an environment where ideas flourish and partnerships thrive.
- Who can join: Anyone.
Step DAO and governance with $STEP
- Step DAO: Join Step DAO on Discord.
- Decentralized Governance: Step DAO embodies the principles of decentralized governance, allowing the community to actively participate in decision-making processes. This democratic approach ensures that the platform evolves in alignment with the desires of its user base.
- Community Impact: The Step DAO community actively contributes to the growth and development of Step Finance, fostering a collaborative ecosystem.
The STEP token which is tradable on multiple exchanges is the powerhouse of Step DAO. From payments to events and incentives, all things are powered by STEP.
The Pros and Cons of Step Finance
I love many things about Step Finance but here are my core advantages:
- Unified Dashboard.
- Comprehensive Analytics.
- Decentralized Governance.
- Optimization Tools.
- Cross-Protocol Connectivity.
- Inclusivity Initiative.
Cons of Step Finance
- Dependency on the Solana Ecosystem as this is a Solana-focused project.
- Regulatory Risks associated with blockchain adoption in some countries.
2024 Outlook for Step Finance
Step Finance stands out always as one of the best Solana tools and the entire web3 industry.
With the focus on easy onboarding of new users and complete abstraction of complex tooling, Step Finance is keen on bringing Solana to the people.
As more users flock to Solana for cheap fees and fast transactions, the role of Step Finance becomes more necessary.
The success of Step Finance depends on user adoption and ongoing community engagement.
Solana Allstars is one of my favorite web3 communities and I look forward to greater community participation and growth in 2024.
Let’s take Solana to the world and then to the moon.
References
- The First Step https://stepfinance.medium.com/the-first-step-30fa9b740218
- The Step Token https://www.stepdao.org/organization-tokenomics
- Soladex — Step Finance https://soladex.io/project/step-finance/
- What is Step Finance https://academy.bit2me.com/en/que-es-stepfinance/
- THE NEXT BILLION PODCAST: Derivatives Exchange on Solana https://www.reddit.com/r/solana/comments/155mk92/the_next_billion_podcast_derivatives_exchange_on/
- Crunchbase -Step Finance https://www.crunchbase.com/organization/step-finance
- What is Step Finance? https://docs.step.finance/
- How to use Step Finance? https://www.step.finance/learn
- Messari https://messari.io/report/state-of-solana-q3-2023
- Coinmarketcap https://coinmarketcap.com/currencies/step-finance/
- Solana https://solana.com/ecosystem/stepfinance
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✌Thanks for reading!
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Disclaimer
This article is for information & educational purposes only. None of this is financial advice to invest in crypto.
