Steak is a liquid staking protocol for 🌎 Terra.

Users stake 🌔 LUNA through the Steak Hub smart contract, which in return mints 🥩 STEAK tokens to the users representing their staked amount. Every 24–48 hours, the staking rewards are claimed and reinvested. As yield accrues, the exchange ratio between STEAK and LUNA tokens changes, with each unit of STEAK becoming worth more LUNA over time.

Compared to similar protocols such as Lido and Stader, Steak’s unique feaures include:

• Zero fee or commission; no useless governance token to siphon value from users
• Zero money raised from VCs; developers worked completely voluntarily, paying for expenses out of their own pockets
• Committed to support non-institution, community-based validators, especially those who contribute to open source projects, run bare metal servers (instead of cloud-based ones), and provide crucial infrastructure services for the Cosmos ecosystem (e.g. IBC message relaying)