FAQ
Questions, answered.
If your question isn't here, ask in Discord — we add anything that comes up more than once.
What is STEAK?+
STEAK is an Algorand Standard Asset (ASA 2595619475). It's positioned as a deflationary store-of-value token: total supply is fixed at 17 million, freeze and clawback authorities are zero-addressed (no one can confiscate your balance), and the supply only ever decreases.
How does the deflation actually work?+
We run an Algorand Réti validator pool (#13). The pool earns ALGO from block rewards. We keep a small commission, use it to buy STEAK on Tinyman, then send the bought STEAK to a dedicated burn wallet (the address starts with BNFIRE — bonfire). That wallet only ever receives, never sends, so the STEAK in it is effectively out of circulation forever. The /burn page reads its live balance straight from the chain.
Where can I see the burns?+
On the /burn page. It pulls live from the Algonode indexer and refreshes every 60 seconds. Every burn links to the actual Algorand transaction on Pera Explorer, so you can independently verify it.
Is the supply really fixed?+
Yes. When the asset was created, the manager was set to never re-issue, and the freeze and clawback authorities were set to the Algorand zero address. You can verify this yourself by querying /v2/assets/2595619475 on any Algorand indexer.
Why should I stake ALGO with you instead of another validator?+
Standard yield is the same — Algorand consensus pays the same rewards regardless of which validator finalized your block. The differentiator is what happens to our commission: instead of going to a node operator's pocket, it funds STEAK burns. If you also hold STEAK, every other staker who joins our pool increases your token's deflation rate. Pool details: Réti #13.
Where can I buy STEAK?+
Tinyman is the primary venue. We track liquidity on Vestige and Allo as well. Most Algorand wallets (Pera, Defly) integrate Tinyman directly — you can swap from inside the wallet.
What about a treasury-backed floor?+
Phase 2 of the roadmap. The plan is to accumulate ALGO and gALGO in a separately-audited treasury and eventually let STEAK holders burn their tokens for a pro-rata share. That mechanism is still being designed; we'll publish full specs and an audit before it ships.
Is the website open source?+
The site repo will live at github.com/genX-crypto/steakpool. Smart contracts (when written) will be audited and the source published. The whole point is that you don't have to take our word for anything.