Step, being integrated with nearly all protocols on Solana, is in a unique position for providing users with useful insights from within the DeFi ecosystem. Beyond the portfolio dashboard, one of the features available on Step is the aggregate data tool on the Opportunities page. Here, you’ll find useful and easily filtered data compiled from DEXs, Lending Protocols and Trading platforms built on and integrated with Solana.
Access the tool by clicking the Opportunities icon on the left of the dashboard.
The first tab is a summary of available on-chain opportunities for the STEP token.
The Orca DEX has both a SOL paired liquidity pool and a stablecoin pool with Hubble’s USDH token. STEP holders can supply their liquidity to earn yield on their tokens from the trading fees generated on Orca.
xSTEP is the staked form of STEP and can be staked from within the Step Dashboard. The lending protocol Solend accepts both STEP and xSTEP as collateral allowing holders to unlock more of their capital, or make use of additional DeFi strategies via over-collateralized loans.
The Liquidity Pools section gives Step users yield farming analytics such as volume, trading fees and returns (APY’s) from different AMM’s across Solana. Having this data in one place, with ability to screen by asset pairs or compare liquidity and volume between DEXs is useful for constructing new farming strategies or exploring new opportunities
Compare yields, total liquidity or volume across all pools for specific assets or trading pairs with the search function. Additionally, sort by ‘Return(APY)’ on the right if looking to get the highest yield on supplied liquidity.
Narrow results by filtering only specific platforms, or by using the search bar to screen and compare all pools available for a selected token.
The Lending tab shows aggregate data collected from lending platforms in one place. This is a convenient tool when tracking lending platforms on Solana, which are constantly growing, adding new pools and assets as collateral and likely offer varying APYs on most tokens.
Here, Step users can compare available asset pools, as well as borrowing and deposit rates with multiple filtering and screening options.
If for example, a user was looking for the best returns on their USD stablecoins, they could make use of the asset search feature and also sort the supply APY % column by ascending as seen below.
The Margin Trading tab is useful for tracking and comparing funding rates for perpetual futures contracts across trading platforms. Having aggregated funding rates for on-chain margin platforms like Entropy and Mango Markets can provide an edge for arbitrage strategies, which are often more abundant in the less efficient DeFi markets when compared to CEXs
The funding APR data below suggest an opportunity to take a long SOL position on FTX with a simultaneous short SOL position on Mango Markets. This would be a delta-neutral strategy that could be used to farm the funding rate arbitrage without necessarily being exposed to changes in price.
Over the coming months, as Step moves further into protocol-specific data insights, we plan on rolling out more useful features to the Opportunities page. Our aim is to assist users in exploring the ecosystem and improving their strategies by providing information they otherwise would not have access to.