Burns

Token burns

Since launching on April 10, 2021, the STEP token has used burns to reduce supply and increase value. Starting with a 1B total supply, Step burned around 37% in October 2021, including:

- 50% of unreleased team tokens: 75M STEP

- 50% of community pool emissions: 232.4M STEP

- 50% of treasury allocation: 57.5M STEP

- 50% of airdrop supply: 5M STEP

In June 2024, Step burned 50M STEP (8% of supply at the time) during the “Summer of the STEP Burns”, using tokens previously repurchased by the fee wallet. In October 2024, Step burned 150M STEP from the Community Reserve (not in circulation) and 49M STEP acquired by the fee wallet through buybacks, representing around 35% of the total supply at the time. In December 2024, Step burned another 10M STEP acquired by the fee wallet, representing 2.8% of the supply and bringing the total down to 350M. In July 2025, Step burned 20M STEP acquired by the fee wallet through buybacks, representing 5.7% of the supply at the time. As a result of these burns, now the current total supply of STEP stands at 330M. This deflationary strategy has helped STEP reach one of the lowest FDVs in the Solana ecosystem, burns will continue — “increasing revenue, reducing supply” Fee Wallet Burns