Steak - Juno Liquid Staking Protocol - By Steak Team

Disclaimer - This is part of our outside perspective series. Curious Cosmonaut Research is not the author we are simply highlighting some good threads and perspectives on the Cosmos ecosystem with their permission. We also, therefore, do not guarantee their accuracy. The content was aggregated from their website here.

Steak is a liquid staking protocol for the Juno.

Users stake JUNO through the Steak Hub smart contract, which in return mints 🥩 STEAK tokens to the users representing their staked amount. Every 24–48 hours, the staking rewards are claimed and reinvested. As yield accrues, the exchange ratio between STEAK andJUNO tokens changes, with each unit of STEAK becoming worth more JUNO over time.

Compared to similar protocols such as Lido and Stader, Steak’s unique features include:

• 2% capped at 10% fees of commission earned, used to pay for the running of Steak
• no useless governance token to siphon value from users
• Zero money raised from VCs; developers worked completely voluntarily, paying for expenses out of their own pockets
• Committed to support non-institution, community-based validators, especially those who contribute to open source projects, run bare metal servers (instead of cloud-based ones), and provide crucial infrastructure services for the Cosmos ecosystem (e.g. IBC message relaying)

Useful links

Smart contract source code Audit report by SCV (for v1.0)

Steak Hub contract Steak Token contract STEAK-JUNO Pairs (LP (TBD) / )

Liquid Steaking is brought to you by PFC.You can support future work by delegating to

ObiSteak is built on the work of Arthur and Larry both of whom have no affiliation with this.