Builder Project Name: Steer Protocol
Submission Date: November 27, 2024
Team behind:
Leadership Team:
Derek Barrera, Founder & CEO: A blockchain engineer with 17 years of experience, Derek previously served as Core Dev at Volmex, CTO at Proof, Principal Blockchain Engineer at Voyager, and Founding Engineer at Ethos. His deep technical expertise and leadership skills are instrumental in driving Steer Protocol’s vision and development.
Deepak Gupta, COO: With 14 years of experience scaling startups, Deepak is a skilled operator and strategist. He previously served as Core Engineer at Proof, Engineer at Voyager, Blockchain Engineer at Ethos, and Head of Operations at OstLabz, where he scaled revenue from $100k to $3 million. Deepak’s operational expertise ensures the smooth execution of Steer Protocol’s growth strategy.
Sam Feintech, Head of Growth: An experienced product, growth, and operations professional with 7 years in Web3, Sam previously held roles at Coinbase, Proof, Voyager, and Ethos. He co-authored a finance and tokenization paper with the UN FAO, demonstrating his deep understanding of financial markets and blockchain technology. Sam leads Steer Protocol’s user acquisition and growth initiatives.
Sector: DeFi / Infrastructure
Links: Paste only self-hosted links accessible to community members.
Description: Steer Protocol provides the infrastructure and tools to build thriving, sustainable DeFi projects. We understand the multifaceted challenges involved with building in Web3 and all things on-chain liquidity, and offer an interconnected suite of products to address them head-on, simplifying complexity and fostering growth.
With 150+ partners spanning chains, AMMs, and protocols, Steer has established itself as a leading liquidity hub. The Steer team brings a wealth of expertise in building and scaling products in Web3, and is deeply committed to supporting Rootstock, builders in the ecosystem, and end users with the tools they need to succeed in DeFi.
Products:
Our core products work together to create a powerful DeFi ecosystem and foundational toolkit for builders:
- Smart Pools
- Smart Pools is an industry-leading automated liquidity manager (ALM) and a foundational component of the Steer ecosystem, allowing users to LP with just a couple clicks. This robust liquidity engine powers several other Steer products, ensuring efficient capital utilization and optimized returns, while abstracting away the complexities often associated with being an LP. Smart Pools has generated over $2m in fees for users since it first launched in May of 2023.
- SplashPool
- SplashPool enables launchpads to offer institutional-grade liquidity management to new tokens from day one through a simple integration. Fully permissionless market creation and automated yield vaults help teams and their token holders create healthier markets, critical factor for both short- and long-term success.
- Smart Bonds
- Smart Bonds offer an innovative approach to liquidity management in DeFi. By transforming bonds into Protocol Owned Liquidity (POL), Smart Bonds offers a cost-effective and sustainable alternative to traditional liquidity mining strategies.
- Smart Rewards (launching soon)
- Flexible rewards platform, enabling the incentivization of any on-chain behavior. A powerful growth-driver for protocols, a simple way to earn for end users.
- Steer Cloud & Network
- Intent-focused compute infrastructure enabling high-throughput execution
- Decentralized node network providing secure consensus and execution
- App Store & Data Marketplace
- Web3-native open data marketplace
- Platform for developers to create, publish and monetize on-chain apps. Developers can write apps in 20+ programming languages using Steer Protocol’s SDK.
Steer continues to enhance Rootstock’s DeFi capabilities by providing liquidity management and automation infrastructure. Our platform empowers Rootstock-based protocols, liquid funds, and individual DeFi users to maximize their LP activities through efficient liquidity strategies in just a couple clicks.
As we continue expanding within Rootstock’s growing DeFi ecosystem, we aim to help protocols launch products faster while enabling them to build more ambitious and innovative solutions.
Mission:
Our mission is to democratize access to sophisticated, yet easy to use, DeFi tooling while maintaining security and decentralization. We believe that powerful DeFi tools shouldn’t require complex technical knowledge to use, even as they enable advanced capabilities.
General traction
- $2m in fees earned by LPs using Smart Pools
- Live on 30 blockchain networks and integrated with 30+ DEXs
- Deployed 2,000+ concentrated liquidity pools
- Supporting 600+ assets
- 34k+ unique wallets have engaged with Steer Protocol
Conclusion:
We are committed to the success of Rootstock and believe that together we can build a DeFi ecosystem where protocols innovate faster, users deploy capital more efficiently, and individual users access the best tools with ease.
Steer Protocol envisions a future where sophisticated DeFi applications are accessible to everyone on Rootstock through just a few clicks. We’re already making this vision a reality with Smart Pools deployment and integrations with Uniswap (Oku) and Sushi.
Supporting Steer Protocol means accelerating the development of DeFi capabilities while maintaining the network’s commitment to accessibility. The Steer team has deep experience that is highlighted by the growth and performance of our product suite to date, and we are just getting started!