STEP finance launch industry first yield farm creator on Solana

STEP finance – a project positioning itself as the front page of the SOL ecosystem – has launched Solana’s first farm yield pool creation mechanism through the STEP dApp, which will enable Solana DeFi projects of all sizes to deploy high-yield farming pools for liquidity harvesting.

The farm creator will provide a means to create permissionless emissions pools – in layman’s terms this means that projects across Solana will now be able to participate in the lending of the native tokens from their liquidity pools using automated smart contracts – so that they can earn additional project income from crypto reserves.

In comments shared with Coin Rivet, George Harrap – one of Step finance’s co-founders – explained how Step’s central goal here is to position themselves as the premier destination for liquidity pool (LP) creation on the Solana ecosystem.

Step finance’s yield farms matter for Solana (SOL)

Liquidity pools can represent a huge barrier to start-ups in the crypto space – projects are usually dependent on in-house creation of smart contracts (and the related security concerns) or requesting one to be made by a yield farm aggregator (leaving them with due diligence requirement headaches, high fees, and emission schedules).

The launch of the farm creator will change that – anyone including community members are empowered to open farms in a permissionless fashion. This will afford individually tailored emission time periods alongside single or dual yield LP farms.

xSTEP (staked $STEP) will power the new yield farms on the dApp – and the launch of the creator was actually delayed until xSTEP became operational on October 13. xSTEP forms part of the ‘stake for access’ business model undertaken by STEP finance – and could grant access to chain analytics and tax history csv exporting.

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