Welcome to Steak Pool
The community-driven Algorand project where we stake, burn, and earn together. Join us in creating value for all STEAK holders!
Have Questions?
Frequently Asked
Questions
What is Steak Pool, and how does it work?
Steak Pool is a community-driven Algorand token with a deflationary mechanism. We run an Algorand validator node, use the rewards to buy back STEAK tokens from the market, and burn them, reducing supply and increasing value for holders.
How does Steak Pool benefit its holders?
By leveraging the Algorand node rewards, Steak Pool creates a continuous cycle of buybacks and burns, reducing the circulating supply. This deflationary mechanism helps increase the scarcity and potential value of STEAK tokens over time.
What is the total supply of STEAK tokens, and how are they distributed?
The total supply of STEAK tokens is fixed at 17,000,000, all in circulation at launch. The Stake Pool team will purchase 12% for liquidity (locked for 4 years), 10% for future development, and 8% for marketing and community rewards.
How can I participate in Steak Pool?
You can participate by holding STEAK tokens to benefit from the buyback and burn mechanism.In the future we hope to provide a community staking pool to allow users to contribute to the node and burn mechanism. Contributing to development, marketing, or governance decisions as part of the community.
What happens to the Algorand rewards earned by the node?
All rewards generated by the Steak Pool node are used to buy back STEAK tokens from the market. These tokens are then burned to reduce supply and drive value for all holders.
Rug.Ninja?
We have written a blog post on why we chose to launch on Rug.Ninja. You can read it here.