SteakHut’s governance token ($STEAK), has a maximum of only 5,000,000 tokens.
There will be no further generation of $STEAK tokens through staking or other means. The finite $STEAK system will ensure there will be no dilution of the governance tokens.
STEAK-Holders will receive a share in profits through revenue shares from staking.
$STEAK is the native governance token for SteakHut. It has four primary use cases:
- 1.$STEAK owners receive a portion of SteakHut protocol revenues, from the STEAKING rewards application.
- 2.$STEAK token holders are able to vote on proposals in direct proportion to their holdings.
- 3.$STEAK token holders can supply $STEAK-AVAX LP on Trader Joe to receive compensation for supplying liquidity to the market.
- 4.Any bonus tokens generated from Trader Joe will be paid to STEAK-holders.
STEAK-Holders can stake their $STEAK into the rewards STEAKING application to start earning real-yield rewards generated by the SteakHut platform.
The profit share will be paid out of revenues generated by the platform's performance fees.
Only 5,000,000 $STEAK tokens will ever be minted to ensure no dilution. As such there are very limited ways to obtain $STEAK
- Users can swap their tokens to $STEAK on the Trader Joe DEX
- Users can bridge $STEAK cross-chain through the SteakHut dApp
- Users who Zap their JOE into hJOE will receive $STEAK emissions
- Through other limited special airdrops and promotional activities
SteakHut has integrated with LayerZero to launch $STEAK as an omnichain token. $STEAK will be able to be bridged seamlessly across Avalanche, Arbitrum, and future blockchains with a 1:1 ratio directly on SteakHut with ease.
The $STEAK token utilizes an omnichain fungible token (OFT) standard, this allows for simple intuitive bridging of your tokens at a 1:1 ratio without the security risk of ‘wrapping’ tokens.