An Omnichain Future: SteakHut is coming to Arbitrum One
Access SteakHut Liquidity AND $STEAK across Avalanche and Arbitrum
Launching SteakHut Liquidity on Arbitrum One
SteakHut Liquidity, our first-of-a-kind liquidity management platform will be launching on Arbitrum One on February 15th 10am UTC.
SteakHut Liquidity SteakHut Liquidity introduces a novel decentralized liquidity management platform that enables liquidity providers and tokenized protocols to optimize their capital on Trader Joe’s DEX V2: The Liquidity Book.
SteakHut Liquidity helps facilitate deep, efficient liquidity across Web3. We create automated strategies for liquidity providers.
Introducing: SteakHut Liquidity
SteakHut Liquidity is a user-friendly platform that automates and optimizes liquidity on Trader Joe V2 (The Liquidity Book). It also enables a new primitive allowing projects to easily deploy automated liquidity positions on The Liquidity Book.
SteakHut’s liquidity provisions remove the barrier of entry of concentrated and offer LPs a range of “set-and-forget” liquidity options that allow you to deposit your tokens and optimize your returns.
Once deposited, your tokens are rebalanced and reinvested automatically by our contracts. This works to ensure that your liquidity always operates within the bounds of the strategy you choose, saving time and gas and earning you the highest possible $JOE rewards.
Launch Day Liquidity Vaults and Parameters
Upon launching on Arbitrum One SteakHut Liquidity will be offering the following liquidity vaults:
· WETH-USDC (Balanced: 140 bins)
· MAGIC-WETH (Balanced: 200 bins)
· GMX-WETH (Balanced: 140 bins)
· USDT-USDC (Stable Strategy)
· USDT-USDC (Stable Strategy)
SteakHut’s strategies are uniquely designed for each token pair, the non-stable strategies will be launched using a Dynamic strategy, while the Stablecoin pairs will use SteakHut’s Stable strategy.
Launching $STEAK as an Omnichain Token
SteakHut has integrated with LayerZero to launch $STEAK as an omnichain token. $STEAK will be able to be bridged seamlessly across Avalanche, Arbitrum, and future blockchains with a 1:1 ratio directly on SteakHut with ease.
$STEAK bridging will be also launching on February 15th 10am UTC.
The $STEAK token utilizes an omnichain fungible token (OFT) standard, this allows for simple intuitive bridging of your tokens at a 1:1 ratio without the security risk of ‘wrapping’ tokens.
Introducing: $STEAK
$STEAK is the native token of SteakHut, with a maximum supply of only 5,000,000 tokens. $STEAK is a scarce resource now scattered across Avalanche and Arbitrum One. No further $STEAK can ever be created.
$STEAK-Holders can currently stake their tokens on Avalanche to earn $JOE rewards accrued from our veJOE liquidity farms.
Shortly $STEAK staking 2.0 will be released enabling users to earn cross-chain rewards generated by SteakHut Liquidity, veJOE farming, and Auto-compounding vaults. More information will be released leading up to “STEAKING 2.0”
Obtaining $STEAK Tokens
Only 5,000,000 $STEAK tokens will ever be minted to ensure no dilution. As such there are very limited ways to obtain $STEAK:
· Users can swap their tokens to $STEAK on the Trader Joe DEX
· Users can bridge $STEAK from Avalanche using the SteakHut dApp
· Users can provide liquidity to the $STEAK-AVAX LP to earn bonus $STEAK emissions
· Users can Zap their $JOE and stake hJOE to earn $STEAK rewards (note: Zapping $JOE is irreversible)
· Users can earn $STEAK through special SteakHut Liquidity boosted promos
$STEAK Liquidity
SteakHut holds a large portion of $STEAK Protocol-Owned-Liquidity (POL). To seed liquidity on Arbitrum One SteakHut has bridged a portion of our POL, allowing the creation of liquidity on Trader Joe for our Arbitrum userbase.
Web 3 Questing with Galxe
To continue the SteakHut questing adventure, SteakHut will be launching further Web 3 questing tasks focussed around our launch onto Arbitrum One.
Through Galxe users will be able to complete quests by exploring the SteakHut ecosystem and earn NFT achievement rewards.
About SteakHut
SteakHut Finance is Web 3’s yield and liquidity aggregator. SteakHut offers a diverse portfolio of tools for individuals, and protocols to unlock the full potential of DeFi.
$STEAK (our governance token) benefits from revenue shares generated by the protocol and is the center of SteakHut.
SteakHut is built for the community, we value security, low-cost, easy DeFi, and allowing everyone to “Enjoy Boosted Yields”.
