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Daniel Amah
@dannyamah
People don't realise how big a deal Step Finance revenue system is All revenue generated by STEP related projects are sent to the fee wallet and then used in buying back STEP from the market This STEP is then sent to the staking contract and then distributed to stakers Now, this is a very unique model and a good question to ask is, "Does it work🤔?" Well, going by stats, we can see that STEP price consistently closes with a positive price % on weeks with buyback above the weekly average amount (~$190k) Data Source: https://flipsidecrypto.xyz/dannyamah/step-buybacks-and-burns-FnwAAQ
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Daniel Amah
@dannyamah
This model also ensures a very decent APY for stakers as well as avoiding supply dilution from minting more coins There's currently around 32M STEP in the fee wallet. The team sends tokens to the staking contract at a rate that typically maintains around a 20% yield for stakers In theory, this number can be adjusted to any APY really, but 20% has generally been the consensus as a number high enough to attract long term stakers, but not so high that mercenary capital comes in to farm and immediately dump their yield 💠The most realistic approach for a team to share their success and reward holders/investors is through a buyback system that rewards holders basically in the same fashion as a dividend stock @StepFinance_ has always known this, and hence, the buyback and staking system
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