STEPN Pool
Pool Description/Risks
GMT/GST are tokens of the STEPN move-to-earn game. GMT is the governance token of the STEPN network, and GST is the utility token that users get rewarded with for running. GST can also be used for in-game utilities, such as minting new shoes or upgrading them.
Max Utilization Risk
GST is frequently at 100% utilization, preventing liquidations & withdrawals. The protocol will manage this utilization by tweaking Max Borrow APR & Borrow Fees to discourage borrows at higher utilizations. Stay tuned to updates here.
At 100% utilization, users with GST deposits might not be able to withdraw. Users will have to wait for repays or deposits to occur before withdrawing.
Oracles:
The price of GMT/GST is detected using Switchboard oracles that pull data from Orca as well as multiple centralized exchanges (FTX/Binance/OKex & Gate). Currently, prices will be updated every 60s, or when a 0.5% move occurs.
Switchboard currently employs an equal weighting mechanism, where the average of these three prices are taken. In times of market congestion, we will bump the OracleBatchSize to 5 to improve oracle reliability.
Last modified 3mo ago