Reward Options

Rewards for Swapping / Staking

Reward Options (ROs) are a unique incentive program for Step Validator Stakers, stepSOL Holders, and Dashboard Swappers. They are airdropped to users every 5 days based on their activity and trading volume. ROs function as a call option on STEP, with a strike price set at 10% above the price of $STEP at the time of minting, and remain valid for a 15-day period.

ROs can only be exercised when they are In The Money (ITM)—that is, when the market price of STEP has risen above the option’s strike price. In this case, users can "claim" their ROs directly from the Step Dashboard and use USDC to purchase STEP at a discount to the current market price.

If the price of STEP does not reach the strike price, the Reward Option is considered Out Of The Money (OTM) and cannot be exercised. This system ensures that new tokens are only issued in uptrending markets, avoiding unnecessary sell pressure during bear markets.