What is Step Finance?
STEP Token Price
Step Finance is a decentralized portfolio visualization application that aggregates all assets contained in a user’s cryptocurrency wallet. Step Finance displays the tokens (including NFTs), their sizes, and the activities performed with the cryptocurrencies in the wallet e.g., Farming and Staking.
What is a Dashboard
A Dashboard also fully called a Portfolio Dashboard is an application software or a website that can be used to visualize, manage and track a user’s personal finances or assets.
Cryptocurrency tokens are increasing daily and there is a need for users to be able to view their assets, to know and to measure the performance of their assets.
The ability to access real time information on the worth of one’s cryptocurrency assets is provided by the Step Finance Dashboard. This enables the users of the dashboard have firsthand information about what is in their wallets and their worth.
Apart from Step Finance, there are also some other Dashboards and portfolio management applications on Solana even though there are a few of them. The most common of the dashboards built on Solana is Sonar Watch, SendIt and Symmetrify.
How to Log in to Step Finance
The following are the steps to take in logging in to Step Finance.
- Enter the official link to Step Finance on your internet browser:
Beware of connecting to just any Step Finance link so as not to fall victim of these common scams.
- After completing step 1, you should see this interface below. Click on the
“Enter App” button.
Once the Application has launched, you will see a search box where you can input your address directly. Please note that if you only input your wallet address, you can only view the contents of the wallet address and not perform any transaction with that wallet. The reason for this is because you do not have access to that wallet by only putting it in the search box.
To be able to perform transactions on Step Finance, you need to connect your wallet to the application. By clicking on “or connect your wallet”, a prompt appears for you to choose your preferred wallet.
After you have successfully connected your wallet, you can now view all the available data in your cryptocurrency wallet.
Viewing your Assets
The Step Finance Dashboard application gives you an approximation of the worth of all the cryptocurrencies you have. This is denoted as “Net Worth”.
The Pie Chart shows you the percentage of your cryptocurrency holdings. It displays the size of their worth with respect to how much the remaining tokens worth. For example, in the dashboard shown below, I have 505 Cope, 0.2 Sol and 1000 SolanaInu. The chart is fully green because when compared to the value of my Cope, the Sol token is almost negligible and SolanaInu Chart is not even acknowledged at all because it is a newly created token.
In the Balances section, you can view the tokens in your wallet, their balances, the current market price for each of the tokens and the total value of that token in your wallet.
Step Finance Application has also made it easier to send your tokens directly from the “Send” button. As shown below, you will be prompted to input the address you want to send your token to and the amount you wish to send.
Digital Collectibles section are single tokens that are unique. In other words, Digital Collectibles are your Non-Fungible Tokens. The reason why there are no values and price on these collectibles is that most times, the prices are determined by its worth to the buyers and the owners. (The most that can be put there is the floor price i.e., the lowest price for a collection of that type of Non-Fungible Token). Metaplex is the most used decentralized protocol on Solana to enable an easy creation of NFTs.
Swapping on Step Finance
Step Finance offers a Swap feature that can enable a quick exchange of your cryptocurrency tokens with other tokens. This is a go-to tool for many users of decentralized applications because it allows an easy way of trading different tokens. If Swapping was not available, the user would have to go to a decentralized exchange, sell their tokens for the pair they trade with, then buy the token they want with the common one they have. This is a long process, and it could even be more stressful if the tokens are not that common.
You can also provide liquidity to the Liquidity Pools available on Step Finance.
The Transaction History shows you the historical transactions that had taken place in your wallet. The “Platform” indicates the mode or the application that effected the transaction. If an amount of token was received from another user, it is denoted as “SPL Token”. If Sol was sent out of the wallet or received, it is denoted as “Solana”. If there was a Swapping of tokens in the wallet, the name of the application used for the Swap would be displayed as Platform.
According to Wikipedia, NFT is defined as “a unique and non-interchangeable unit of data stored on a digital ledger. NFTs can be associated with easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items, and use blockchain technology to give the NFT a public proof of ownership.”
These NFTs shown in the wallet address were created and stored on the Solana blockchain network. This section displays all the NFTs that are contained in your wallet address. A popular NFT in this wallet is the Skyline.
Staking on Step
A user can stake the Step token they have to earn xStep. By staking STEP token, the holders of these Step tokens earn yield on their STEP from the revenue that is generated by the Step Finance protocol. When a user stakes their STEP they will be receiving the xSTEP token which represents the value of their stake in the staking vault.
The Step Farm platform is a tool for users of the Step Finance protocol to stake their tokens in a yield farm to earn reward. As users stake their tokens in a yield farm, they will earn the tokens for that yield farm for the specified period in which the staking is active and will be able to harvest their token rewards whenever they want to.
Before you can be able to stake your tokens in a Yield Farm, you will be needing the LP token for that Yield Farm. By adding Liquidity to the Automatic Market Maker, you will be able to get LP tokens for the pair you want to Farm.
It is your Liquidity Provider tokens you will have to stake to “Step” into the Farm of your choice.