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MEMORANDUM
Ecosystem Fund
Launchpad

MEMORANDUM

An AMM decentralized exchange is one of the core applications on a blockchain. Step Protocol is expanding rapidly, with corporations with millions of users actively deploying FitFi apps on it.
The ecosystem’s native token and the many app tokens that are launching on it need access to a native DEX. StepEx will champion this need.
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The Fair
Lockdrop

There is no VC round for StepEx. Instead, the genesis will be allocated to liquidity lockers. Unlike a typical liquidity mining campaign, StepEx will reward up to a year’s worth of yield upfront.
The StepEx token ticker is SPEX. The total supply is 3,000,000,000 SPEX tokens.
To be a part of the lockdrop, a participant must commit liquidity for a minimum of 3 months, via a lock. In total, 7% of total StepEx token supply will be available in the lockdrop, and the lockdrop will be divided into 5 parts.
Lockdrop Parts

Part 1: Stable
Assets

25,000,000 SPEX tokens
Lock liquidity
of USDC/USDT pair.

Part 2: Core
Assets

75,000,000,000 SPEX tokens
Lock liquidity of AVAX, ETH, FITFI, and BTC.

Part 3: Partner
Assets

10,000,000 SPEX tokens
Lock liquidity of selected partner assets to share SPEX tokens unlocked and upfront.

Part 4: Open
Market Assets

10,000,000 SPEX tokens
Lock liquidity of any asset
to share tokens unlocked
and upfront.

Part 5: SPEX
Liqui dity

90,000,000 SPEX tokens
Add liquidity against SPEX
tokens to claim them
for free after the lock!
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Lockdrop Weights
The lockdrop is a combination of liquidity “locks” and “airdrops.”That’s what the name combines: liquidity airdrop.
StepEx is going to be community-centric to the max.It’s important to select community recipients who are genuinely interested in being a part of StepEx. Hence, the genesis release is airdropped but with a selection basis.
If you’re adding USDC/USDT liquidity, liquidity of major assets, or even liquidity of some minor assets… bring them to StepEx and get a portion of circulation instantly.
Once the lock period ends, you can withdraw your liquidity if you want. Alternately, you can keep it in StepEx and earn trading fees forever. Nice passive fee income.
To make the system more welcoming to all kinds of participants, there will be different options for liquidity lock times. You can lock for longer periods and earn more SPEX tokens.
Option A: 3-month lock
Lock liquidity for 3 months for a 1x multiplier on SPEX tokens
Option B: 5-month lock
Lock liquidity for 5 months for a 2x multiplier on SPEX tokens
Option C: 10-month lock
Lock liquidity for 10 months for a 4.5x multiplier on SPEX tokens
Option D: 14-month lock
Lock liquidity for 15 months for a 7x multiplier on SPEX tokens
Option E: 24-month lock
Lock liquidity for 24 months for a 15x multiplier on SPEX tokens
If you stake for 10 months versus 3 months, you’re committing for 3.3x longer time. So naturally your token reward should be higher. To motivate those with a longer-term belief in the ecosystem, there’s a premium attached.
While the time difference between 10 and 3 months is 3.3x, the reward benefit is 4.5x. This time-based premium gets bigger if you stake even longer.
What’s In It For Everyone
As a liquidity provider, you earn trading fees like any other DEX. Whether you’re adding liquidity to Trader Joe, Uniswap, or PancakeSwap, moving to StepEx retains your fee benefits!
What matters on top is that you get instant ownership of the success of the underlying DEX.
This is also very meaningful for Step ecosystem users. The DEX will be an essential, permanent part of the ecosystem. Step ecosystem users can become a part of the DEX genesis liquidity by participating in the Lockdrop and seal their stake in StepEx’s success.

No VCs and
Safe From
Mercenaries

There are no VCs receiving this early stake at steep discounts, as seen with other DEX like Uniswap and Trader Joe. The success of Uniswap and Trader Joe significantly and disproportionately benefits VCs, not their users.
StepEx is defining what community-owned DeFi is.
The lockdrop is a combination of liquidity “locks” and “airdrops.”That’s what the name combines: liquidity airdrop.
StepEx is going to be community-centric to the max.It’s important to select community recipients who are genuinely interested in being a part of StepEx. Hence, the genesis release is airdropped but with a selection basis.
If you’re adding USDC/USDT liquidity, liquidity of major assets, or even liquidity of some minor assets… bring them to StepEx and get a portion of circulation instantly.
Once the lock period ends, you can withdraw your liquidity if you want. Alternately, you can keep it in StepEx and earn trading fees forever. Nice passive fee income.
To make the system more welcoming to all kinds of participants, there will be different options for liquidity lock times. You can lock for longer periods and earn more SPEX tokens.
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