Steaks Finance How-To, FAQ & Overview

How to Harvest $Steak

For those of you new to Steaks Finance and/or yield farming, here is a quick run-down for getting started:

  • Understand the risks 
  • You’ll need some ETH to buy STEAK and an Web3 wallet 
  • Put ETH and STEAK in the same ETH wallet such as MetaMask
  • Go to Uniswap and select “add liquidity”
  • Pair your STEAK with ETH in Uniswap
  • You need an equal weighting of STEAK and ETH according to pool
  • Once you’ve added the liquidity, you now have LPs
  • You can go to the Steaks.Finance menu, find STEAK/ETH and then stake your LPs to gain the APY gain in steak
  • You can harvest anytime or when you unstake or add more (it happens automatically)

Steaks Finance FAQ

Frequently asked questions

  • How can I buy steaks? You can buy them on Uniswap when live, 8pm EST Sept 28 2020
  • What is the total supply? The total supply will be capped as determined by the community a few weeks after launch. Follow the community discussion on tokenomics and get your voice heard in Steaks Finance Telegram chat: https://t.me/steaksfinancechat 
  • What is xSteak? xSteak is earned by staking in the SteakBar pool and receiving your SteakBar rewards. It’s not active at the moment but TBD by community.
  • Do all pools receive the same rewards? No, it depends on the trading pair.
  • Is there a time lock? There will be one added shortly after launch, timing to be determined by community,
  • Who is the team behind Steaks Finance? The idea is to make Steaks Finance completely decentralized. The development team that brought you HedgeTrade, Rublix Development, is also behind the fair token launch of Steaks Finance. CEO of HedgeTrade and Rublix is David Waslen: https://sg.linkedin.com/in/david-waslen-a1211235 

OVERVIEW

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:

  1. Yield Farming
  2. From SteakSwap Fees
  3. 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%

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

[subject to change as determined by community]

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.

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.

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