Step Pool

What's Step Pool?

Step pool offers xSTEP and STEP, allowing for multiple strategies such as borrowing STEP to deposit xSTEP, or depositing large amounts of STEP or xSTEP to unlock capital (SOL/USDC) against them.

What's the Risk?

There are some smart contract risks present due to the reliance on an external protocol. If Step is exploited and drained, STEP and xSTEP here would likely not get liquidated fast enough and cause socialized losses for lenders.
There is also the risk of oracle exploits, as xSTEP and STEP rely on Switchboard oracles to get up-to-date prices.

xSTEP

Parameter
Value
Optimal utilization rate (%)
80%
Loan to value ratio
50%
Liquidation penalty
10%
Liquidation threshold
65%
Min borrow APR
0%
Optimal borrow APR
30%
Max borrow APR
200%
Interest Rate Spread
20%
Borrow fee
1%
Flash loan fee
0.3%
Host fee percentage
20%
Deposit limit
25,000,000 xSTEP
User Deposit Limit
5,000,000 xSTEP
Borrow limit
None

STEP

Parameter
Value
Optimal utilization rate (%)
80%
Loan to value ratio
50%
Liquidation penalty
10%
Liquidation threshold
65%
Min borrow APR
0%
Optimal borrow APR
30%
Max borrow APR
200%
Interest Rate Spread
20%
Borrow fee
1%
Flash loan fee
0.3%
Host fee percentage
20%
Deposit limit
25,000,000 STEP
User Deposit Limit
5,000,000 STEP
Borrow limit
None

SOL

Parameter
Value
Optimal utilization rate (%)
80%
Loan to value ratio
75%
Liquidation penalty
5%
Liquidation threshold
80%
Min borrow APR
0%
Optimal borrow APR
8%
Max borrow APR
200%
Interest Rate Spread
20%
Borrow fee
0.5%
Flash loan fee
0.3%
Host fee percentage
20%
Deposit limit
50,000 SOL
User Deposit Limit
None
Borrow limit
None

USDC

Parameter
Value
Optimal utilization rate (%)
80%
Loan to value ratio
75%
Liquidation penalty
5%
Liquidation threshold
80%
Min borrow APR
0%
Optimal borrow APR
15%
Max borrow APR
200%
Interest Rate Spread
20%
Borrow fee
0.5%
Flash loan fee
0.3%
Host fee percentage
20%
Deposit limit
5,000,000 USDC
User Deposit Limit
None
Borrow limit
None
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What's Step Pool?
What's the Risk?
xSTEP
STEP
SOL
USDC