If you’re following developments in the crypto projects, you’ll know what STEPN is about. It’s the first move-to-earn crypto project that rewards a healthy lifestyle. Users who love to keep themselves fit by moving their bodies – walking, jogging or running will have a good chance to earn crypto tokens that can be converted into fiat.
It’s a revolutionary project with a dual token economy offering various benefits & rewards to the users. GMT & GST are the two native tokens of the STEPN app used for rewards, governance and also for in-app purchases like NFT Sneakers.
We aren’t going to talk about STEPN today but it’s newly launched DOOAR DEX. DOOAR has taken the market by surprise and became the number one DEX on the Solana blockchain within a month of launch. Let’s talk about it.
Salient Features
No Front-end, Users have to use STEPN app
Native Token Pairs : GMT/USDC & GST/USDC
Multi-chain support
Freedom to Create liquidity pools
What is DOOAR?
DOOAR is the new decentralized exchange built by STEPN. It was launched in May 2022, facilitating the swap of its native tokens GST & GMT. STEPN was looking for ways to effiencienty manage the token swap for its tokens & that’s when the idea of creating its own DEX was born.
Launching DOOAR – our new DEX on STEPN today. Read more here:https://t.co/AC0H8g7WiP
— STEPN | Public Beta Phase V (@Stepnofficial) June 10, 2022
Earlier they created the liquidated swaps on ORCA for users who’re interested to trade STEPN tokens. Shifting it’s pool from ORCA to its own DEX was the conscious decision made by the team for better operations.
DOOAR doesn’t have a front-end. Users have to visit STEPN App to swap token
Numbers Don’t Lie:
According to data released by Dune, DOOAR has 77,000 daily active users and has surpassed ORCA to become the number one DEX.
Offering from Solend:
Despite venturing into creating a decentralized exchange, STEPN doesn’t have staking feature for its tokens. Grabbing the opportunity, Solend has offered its support to STEPN which will allow users to deposit tokens to earn passive income with an APY of around 480%.
This completes my review of STEPN DOOAR DEX. In the next post, I will talk about Pugglit Inu & WetSpace. If you’re a fan of blockchain technology then do share this post on your social handles and educate everyone around you. Remember to subscribe to my YouTube channel for more informative content, released every week.
DISCLAIMER:
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
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Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.
