If you are a programming enthusiast but do not have much experience in DeFi, if you are a project that wants to build liquidity managers effectively and quickly, it seems that Steer Protocol will be a suggestion. attractive for you.
To better understand Steer Protocol, people can refer to some of the articles below:
- What is DeBank? Overview of DeBank Cryptocurrency
What is Steer Protocol?
Overview of Steer Protocol
Steer Protocol is a protocol aimed at solving infrastructure and data challenges in building and deploying decentralized applications. With Steer Protocol, developers can write applications in many different programming languages, connect to secured data sources and execute on any blockchain.
This empowers developers to build applications to automate tasks such as liquidity management, loan repayment, asset management, execution of trading strategies and other tasks. Protocol operations such as reward distribution, airdrops,…
Steer Protocol products
Decentralized computing platform: Steer provides a set of tools to help you write decentralized applications without the need for specialized knowledge, in addition, Steer supports more than 20 programming languages, providing reliable off-chain data sources to connect. Connects to dapps and allows dapps to deploy on any blockchain. Steer outlines a simple 4-step process for you to deploy your own dapp:
- Step 1: Write user applications in any language
- Step 2: Select the data source for the user’s application (onchain – the graph, off chain – steer).
- Step 3: Select a blockchain the user wants to deploy.
- Step 4: Publish your app to Steer.
So your DApp has been successfully posted to the blockchain.
The second product of Steer Protocol is Centralized liquidity management. Helps protocols launch liquidity strategies automatically with just a few clicks. The most typical liquidity manager is Smart Pool.
Is the product of the combination of AMM and Steer protocols. Smart pools have the following characteristics: Higher transaction fees, centrally organized liquidity, improved capital efficiency, reduced price slippage and temporary losses for liquidity providers, automatic pooling fees and profits received to optimize profit sources for LPs.
Steer Protocol provides the protocol with 3 different modes to deploy a Smart Pool:
- Simple operation.
- Advanced mode.
- Expert mode.
Each mode is designed to suit the specific requirements of the end user.
Additionally, the protocol builds strategies based on liquidity-concentrated products Steer can earn 5% fee for their strategies if anyone uses their strategies to modify and apply to their project, this will encourage protocols to create high quality strategies and bring in revenue New revenue for projects.
Furthermore, the Steer platform includes a comprehensive backtesting suite, allowing developers to build, test and optimize market making strategies before deploying them on the live market, thereby Reduce risk and improve performance.
Development Roadmap
Update…
Core Team
Derek Barrera: Founder & CEO
- He graduated with a degree in Computer Science, Marketing and Business Administration.
- Previously, he was a core developer at Volmex, Chief Technology Officer at Proof, Principal Blockchain Engineer at Voyager, and Principal Engineer/Co-Founder at Ethos.
Deepak Gupta: CEO
- He graduated with a degree in Computer Science and Business Administration.
- Previously, he was a core engineer at Proof, engineer at Voyager, blockchain engineer at Ethos, and Head of Operations at OstLabz.
- He also founded and sold an artificial intelligence-based marketing platform.
Rakesh Bhatt: Core Developer
- With a passion for technology for 9 years. Rakesh is passionate about exploring new fields and especially loves blockchain.
Investors
- April 6, 2023: Steer Protocol successfully raised $1.5M in a led Seed round by Druid Ventures, with participation from Republic Capital and Big Brain Holdings, along with VC firms and several other angel investors.
Tokenomics
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Exchanges
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Project Information Channel
- Website: https://t.co/UKYTpkgZiA
- Twitter: https://twitter.com/steerprotocol
- Discord: https://t.co/ko9Lzm2Frn
Summary
Steer Protocol is not a very popular project that attracts everyone’s attention. But it is necessary for Blockchain to move towards Mass Adoption. Recently, the project also announced that it is implementing on Base Blockchain – Blockchain Layer 2, which was recently launched. This shows that the project is quite active in expanding its ecosystem.