SteakHut Raises Seed Round to Build DeFi Liquidity Layer
We are thrilled to announce that SteakHut Labs has successfully completed a strategic seed round to facilitate our ambitious project of redefining on-chain liquidity and creating DeFi’s “Liquidity Layer.” This funding round will supercharge the development of SteakHut, creating an optimized DeFi experience for all users.
SteakHut’s seed round was led by Varys Capital and includes Blizzard, Avalaunch, and prominent angel investors including Hansen- founder of BenQi, Ironboots- founder of Camelot, and Coinflipcanada- founder of GMX. Our goal was to create a highly strategic round of industry leaders and builders to maximize the scale and success of the SteakHut protocol.
With these partners onboard, SteakHut will leverage their expertise in building and scaling crypto companies to help us navigate the launch of SteakHut Liquidity v2. Our investors were chosen for their expertise and knowledge in the DeFi space, providing many key insights.
“We are pleased to partner with such talented and reputable partners who are well respected and accomplished within the space. The seed round is a great accomplishment for SteakHut Labs and allows us to create innovative liquidity strategies that will benefit users across the entire Web3 landscape. It is an honor to work alongside our great partners and have our round led by William Patterson at Varys Capital.” — Ribeye, Cofounder and Operations Lead of SteakHut Labs
Our Vision
SteakHut Liquidity v2 will redefine on-chain liquidity provision and include a unique creator-focussed platform for liquidity strategies. SteakHut has been built from the ground up as a liquidity solution, offering retail-friendly and institutional-grade market-making solutions for on-chain exchanges and lending markets.
SteakHut Liquidity v2 will offer the most composable and flexible smart contracts available in DeFi, giving liquidity providers and liquidity seekers full control and flexibility over their positions. Combined with a market-leading dApp, the platform will make sophisticated market-making tooling widely available for the first time across the crypto landscape.
With SteakHut Liquidity v2, we re-envision on-chain liquidity and set a new standard for creating deep, liquid markets for everyone’s favorite tokens.
Creating the Liquidity Layer of DeFi
SteakHut’s novel smart contracts have been built from the ground up to allow seamless cross-compatible liquidity management among all key CLAMMs, creating the first unified liquidity layer in DeFi.
In a new form of liquidity aggregation, users will be able to access and manage their liquidity across multiple AMMs and blockchain ecosystems directly from the SteakHut platform.
SteakHut will offer in-house liquidity strategies, giving users access to professionally optimized liquidity vaults for key token pairs and partner protocols. On SteakHut Liquidity v2’s infrastructure, users and market-makers can permissionlessly create public and private liquidity strategies tailored to their goals.
SteakHut’s smart contracts will offer the most composable liquidity management tooling in the industry, allowing for the creation of sophisticated market-making strategies on-chain directly from the SteakHut front end.
“SteakHut is working towards developing a platform that empowers liquidity providers, market-makers, and liquidity seekers. We are developing advanced liquidity management tooling coupled with a user-friendly interface to enable a new generation of decentralized liquidity provision.” — Wagyu, Cofounder and Lead Developer of SteakHut Labs
On launch, SteakHut Liquidity v2 will be rolled out on the Avalanche C-Chain supporting the Uniswap v3 CLAMM. Our roll-out plan will include deploying the platform on Ethereum mainnet and Arbitrum, supporting key CLAMMs such as Uniswap V3, and Camelot DEX as well as other Algebra-based AMMs. SteakHut plans on rolling out slowly across all key blockchains and CLMMs.
Empowering Community: Create, Manage, Share and Earn
Web3 is centered around community, and SteakHut is no different. In developing SteakHut Liquidity v2 we have kept community at the core and pushed the boundaries of empowering creators.
In one of our most exciting features, for the first time ever, creators from across Web3 will be able to create and manage their own liquidity vaults directly from the SteakHut dApp with no code required.
Users will be able to deploy unique liquidity strategies for their favourite token pairs and share them with their friends, community, or team to manage their liquidity and earn DEX swap fees. With our “Manage” section, you instantly gain access to a wide range of easy-to-use tools and features to help you achieve your market-making goals.
Creators can also charge their own vault performance fees, earning rewards for creating high-performing liquidity strategies- a feature we eagerly look forward to, as new creators and influencers will look to attract TVL to their own vaults.
Tokenomics
In launching our new flagship platform, we have recreated the STEAK tokenomics tailored to the new direction of the protocol and building a strong foundation for our users and token holders.
This has been made possible through our conservative approach to STEAK emissions, leaving the protocol with an excellent runway to expand operations and the platform.
The first part of our tokenomics revamp includes “STEAKING 2.0,” our utility staking platform allowing users to access the Rewards application via xSTEAK and earn a share of platform performance fees (currently set at 50%).
Platform fees across all chains will be routed through xSTEAK on the Avalanche C-Chain, creating a central hub for Steaking Applications. This design choice reduces friction and creates more value for STEAK holders by avoiding fragmented yields across blockchains.
With the launch of SteakHut Liquidity v2 we will be expanding our roster of Steaking Applications to create further utility and use cases for the STEAK token. We are excited to create deep synergies for STEAK holders and platform users, putting an emphasis on community building and community-forward tokenomics with new features and utility to be added in the future.
Updated Token Distribution
After introducing new Steaking Applications and completing the seed round, we have revised the STEAK tokenomics to better align the token with the upcoming platform updates and allow us to scale the SteakHut ecosystem long-term.
Notable revisions include the reservation of tokens for current and future strategic investors. The team tokens allocation has been reduced to 15%, with 5% reserved for future team members and advisors. The team tokens will be relocked and vested over 4 years to further emphasize our long-term commitment to building the premier liquidity layer in DeFi.
About SteakHut Labs
SteakHut Labs is focused on developing solutions for on-chain liquidity and market-making. We create smart contract-enabled applications and permissionless tooling that incorporate decentralized blockchain technology to bring market-making solutions to DEXs and lending protocols.
SteakHut is developing the liquidity layer of DeFi, creating deep liquidity for blockchain-based markets.
“Rarely do we meet DeFi builders with a cogent vision to address a large tangible market, with a unique and defensible tech moat. We believe that SteakHut’s novel liquidity automation tooling and product roadmap will lead to millions of dollars of TVL and becoming a mainstay within DeFi.” — William Patterson, Head of Venture of Varys Capital
