Step Finance, a Solana-based DeFi protocol, announced today that it’s launching a new kind of incentive mechanism for its users called Reward Options.
The incentive will be distributed to Step Finance’s 12,000 users via airdrop, the company told CryptoSlate.
Step finance to reward users with options
By introducing the first-ever airdrop of call options, Step Finance has positioned itself as a pioneer not just in the Solana ecosystem, but in the broader crypto market as well.
In a press release shared with CryptoSlate, Step Finance explained that they wanted to reward its 12,000 users but decided to ditch the traditional airdrop model. Existing airdrop models are efficient when it comes to distributing tokens to as many users as possible but often end up hurting the protocol’s community as the majority of those tokens get dumped on the market.
Step Finance’s Reward Options will be the first airdrop of call options in the industry. The incentive mechanism will enable users of Step’s AMM to get the ability to buy STEP tokens at a fixed price.