Home Coins Steaks Finance (STEAK) Steaks Finance — A DeFi token with ACTUAL utility | by Steaks...

Steaks Finance — A DeFi token with ACTUAL utility | by Steaks Finance | Sep, 2020


Steaks Finance

Active crypto prediction marketplace HedgeTrade launches DeFi token for liquidity providers and yield farming earning opportunities.

Part I: The Manifesto: Chasing the Dragon

Part II: Steaks Finance Summary and Key Parameters

Part III: Steaks Finance Full Overview

I started my career buying and building companies. From investment banking to private equity, it’s always been my job to generate returns for investors. Over the years, this became increasingly difficult as low interest rates and inflated valuations blurred the lines between good and bad investments. I found myself frustrated and at times, frozen, unable to “chase the dragon” and pay egregious prices in the millions and tens of millions of dollars. In an attempt to further understand the macro environment and (at the time) current monetary regime, I stumbled upon Bitcoin.

I then found myself spending my nights scouring the back pages of GitHub or showing up to local meet-ups. I knew I was in trouble when I started taking time off from work to fly to cryptocurrency conferences.

I knew I had found my calling. I resigned in the summer of 2017 from the private equity firm I co-founded to start HedgeTrade, a cryptocurrency predictions marketplace and social trading platform. Bitcoin was my hedge and HedgeTrade became my career.

My co-founder and I set out to build an ecosystem that provides reputable, transparent and immutable trading predictions from real traders with real skin in the game. HedgeTrade officially launched in July 2020 and is already generating profits for (and from) tens of thousands of traders.

Since our launch, HedgeTrade has been planning its pivot into DeFi. The idea that a protocol written with code could generate returns on assets with no middleman or intermediary was brilliant — and the perfect integration opportunity for our platform. Why should investors suffer leakage and pay unnecessary management fees? What if the quest for finding an undervalued asset and the deployment of capital could be automated? It’s with this revelation that I’m proud to announce the launch of Steaks Finance, our newest product within the HedgeTrade ecosystem.

Steaks Finance is a decentralized exchange and Fair Launch DeFi Token that can only be yield-farmed on steaks.finance. There is no pre-mine, no investors, and no advisory tokens. Similar to other DeFi platforms before us, Steaks is designed to exist in perpetuity on its own, but with a twist. As part of the HedgeTrade ecosystem, we will be distributing future fees from multiple HedgeTrade business lines into the Steaks platform.

For example, commissions generated on HedgeTrade will be paid out to STEAK holders via the Steaks staking pool, the “SteakBar.” This means that the Steak pool’s yield farming will never end, even when STEAK genesis distributions end.

Once all STEAKs have been minted and farmed, the SteakBar pool will continue to yield rewards from HedgeTrade in the form of our native HEDG token. What’s even more exciting is that as the HedgeTrade ecosystem grows and the generated fees grow, so will the returns for steakers (pun intended).

By integrating DeFi systems with our HedgeTrade platform, we will be creating an entire closed-loop ecosystem where you can farm, stake, use, bet, bet against, trade, govern, and earn a lot of STEAK and HEDG tokens.

Many meme coins are missing long-term use cases — after you farm, you can’t do anything more with these tokens except provide liquidity and earn a portion of the swap trading fees. With Steaks, holders can earn those fees and will eventually yield HedgeTrade commissions as well as vote on how the protocol evolves. Combining these models will make this an unprecedented, all-in-one ecosystem.

Sound complicated? It’s not. Start by joining our Telegram channels (HedgeTrade and Steaks Finance) so we can help guide you in generating yield on your tokens. Purchase your HEDG or STEAK tokens (link coming soon) to officially participate and start yield farming STEAK (full details below).

We’re excited to welcome the community to Steaks Finance, and we will continue to build according to our community-driven roadmap. Major initiatives for both Steaks and HedgeTrade are already in the works, including:

  • Integrating HedgeTrade with exchanges and our SteakSwap DEX to enable frictionless trading after unlocking predictions
  • Enabling HedgeTrade users to not only unlock (purchase) another trader’s prediction, but also stake against other traders or stake alongside the trader
  • Utilizing Steaks infrastructure and HedgeTrade trading data to build an automated robo-advisor and launching a decentralized index fund and high-frequency trading pool
  • Fully examining the viability of decentralizing HedgeTrade entirely
  • Evaluating the HEDG token economics, including burning significant supply
  • Introducing predictions on publicly traded assets (stocks, forex, commodities)
  • Expanding HedgeTrade’s universe of predictions beyond trading (sports, eSports, etc.)

For me, “chasing the dragon” once meant going after profits by building and selling valuable companies. I wanted to make money. Now, the chase is still to create value but also to make that value self-sustainable, transparent and governed by its very users. The launch of Steaks Finance is a natural fit and evolution for HedgeTrade — bringing our entire business one step closer to being fully decentralized.

— David S. Waslen, CEO, HedgeTrade & Steaks Finance, Twitter | LinkedIn

Steak Finance Homepage

Fair Token Launch Timeline

Official announcement to HedgeTrade and crypto communities: Monday, Sept. 28, 08:00 (EST)

Public Press Release: Monday, Sept. 28, 17:00 (EST)

Steaks Finance Fair Token Launch:

  • Monday, Sept. 28, 20:01 (EST)
  • Tuesday, Sept. 29, 00:01 (UTC+0)
  • Tuesday, Sept. 29, 08:01 (HKT)

Liquidity Pool Yield Farming

Yield farm STEAK tokens by staking Liquidity Pool (LP) tokens. Launching at Ethereum block 10954381.

SteakBar Pool

Flagship staking pool that receives rewards in three ways:

  • Yield Farming
  • From SteakSwap Fees
  • Commissions from HedgeTrade Platform

The longer you stake in the SteakBar Pool, the higher your rewards.

SteakSwap Decentralized Exchange

  • Total Transaction Fees: 0.30%
  • LP Rewards: 0.25%
  • SteakBar Pool Rewards 0.05%

HedgeTrade Platform

Predictions marketplace platform where you can earn HEDG tokens for making accurate trading calls. Fees from HedgeTrade will be distributed to SteakBar STEAK stakers.

Steaks Governance

STEAK holders govern Steaks Finance.

STEAK Distribution

No pre-mine. No pre-sale. No founder or advisor tokens. Development fund only.

  • For the first ~20 days, 500 STEAK tokens will be distributed to the pools each block.
  • 250 STEAK tokens will be distributed per block thereafter.

Initial Farming Pools

Phase 1: UNI-V2 LP Tokens (Subject to change & based on community voting)

  • LINK-ETH, SNX-ETH, LEND-ETH, COMP-ETH, YFI-ETH, UNI-ETH, ETH-AMPL, ETH-HEDG, ETH-USDT, WBTC-ETH

Phase 2: SteakSwap LP Tokens (Subject to change & based on community voting)

  • LINK-STEAK, SNX-STEAK, LEND-STEAK, COMP-STEAK, YFI-STEAK, UNI-STEAK, AMPL-STEAK, ETH-STEAK, HEDG-STEAK

Phase 3: Community Driven & Additional HEDG Pools

  • HEDG-USDT, HEDG-USDC, HEDG-WBTC

Other models, pools, changes and distributions will be determined by the Steaks Governance system.

  1. Overview

Steaks Finance is built for farmers, traders, risk-takers and the inner cowboy in all of us. Steaks will have all of the best attributes from the current DeFi landscape plus an additional utility of being integrated with HedgeTrade where you can earn even more STEAK and HEDG tokens. HedgeTrade is a predictions marketplace & gamified social trading platform that is live, operational, and generating cashflow with thousands of active traders.

Steaks has a “SteakBar” pool, where you can stake your STEAK tokens and receive commissions from the SteakSwap trading fees as well as commissions from HedgeTrade. Owning and farming STEAK tokens effectively gives you rewards from not only trading fees, but also from HedgeTrade and other products we develop.

2. SteakSwap Liquidity Provider Incentives

We have built our own swapping protocol, called SteakSwap, which will distribute the trading fees to the Liquidity Providers and the SteakBar stakers.

  • Total Transaction Fees: 0.30%
  • LP Rewards: 0.25%
  • SteakBar Pool Rewards 0.05%

Steak Governance can vote to change the rewards mechanisms over time as the protocol evolves.

3. SteakBar Pool

The flagship staking pool receives STEAK in three ways:

  • Yield Farming
  • SteakSwap Fees
  • Commissions from HedgeTrade

The SteakBar Pool will be designed so that stakers that stake for a longer period of time will yield a higher percentage of the fees. So you’re going to want to stake early and stake often.

4. STEAK Distribution

Steaks will distribute STEAK tokens equally to the stakers of each of the supported pools every Ethereum block.

  • For the first ~20 days, 500 STEAK tokens will be distributed to the pools each block.
  • 250 STEAK tokens will be distributed per block thereafter.

Other models, pools, changes and when the distributions end will be determined by the Steaks Governance system.

5. Initial Staking Pools

Phase 1: UNI-V2 LP Tokens (Subject to change & based on community voting)

  • LINK-ETH, SNX-ETH, LEND-ETH, COMP-ETH, YFI-ETH, UNI-ETH, ETH-AMPL, ETH-HEDG, ETH-USDT, WBTC-ETH

Phase 2: SteakSwap LP Tokens (Subject to change & based on community voting)

  • LINK-STEAK, SNX-STEAK, LEND-STEAK, COMP-STEAK, YFI-STEAK, UNI-STEAK, AMPL-STEAK, ETH-STEAK, HEDG-STEAK

Phase 3: Community Driven & Additional HEDG Pools

  • HEDG-USDT, HEDG-USDC, HEDG-WBTC

Our goal is to release STEAK tokens to key DeFi communities in Phase 1 and then encourage them to re-stake them in Phase 2 in STEAK-based Liquidity Pools. We will gauge pool success and market sentiment as well as let the Steaks Governance decide which pools they would like added.

6. No Pre-mine, No Pre-Sale, No-Founder Tokens, Small Development Fund Only

It’s hard to imagine that all creators of token projects that are “fully decentralized” aren’t out to compensate themselves. If they claim that they are fully decentralized and there is no pre-sale, no pre-mine, no team rewards, no foundation tokens, no founders pool, or any other method for the internal team to generate returns from the platform, then frankly, we think that that project sounds suspicious.

Sure, projects don’t need to hold back the majority of the tokens if they want a wide distribution, a supportive community, and to tap into the hardcore crypto evangelists, but let’s be serious… the actual team and coders building it need to eat (preferably steak), put a barn on their ranch, and perhaps buy a cool truck for their hard work and risk taking. If there truly is a team that doesn’t have any upside whatsoever from a project they are launching, then they either have too much money or don’t believe that money can buy a tastier cut of steak — we don’t fall into either of those categories.

That being said, we will follow this best-in-class structure of not holding back any tokens, no pre-mine, no pre-sale, etc. We will be launching the Steaks Pools at block 10954381 (Sept. 29, 2020 ~00:01 UTC+0), and there will be a development fund which will recoup 7.5% of STEAK distributions for protocol management and growth. We believe this is fair and reasonable based on other projects but if this needs to be revised in the future, we will allow Steaks Governance to modify it as necessary. If you are not satisfied or take issue with our launch model, please click here to get your satisfaction.

7. Steaks Governance

Stakers of STEAKs staking in the SteakBar will govern the Steaks Protocol. Stakers in the SteakBar will also receive commissions of HEDG tokens from the HedgeTrade platform.

8. STEAK Token Flow Chart

9. Conclusion

We’re more than excited about the unveiling of Steaks Finance and our upcoming launch. Every single person in the crypto space loves staking, stakes, steak and making money, so come join the fun and get your hands on some STEAK.

Steaks Finance:

HedgeTrade:





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