Step Group, one of the earliest companies to build on the Solana blockchain, has announced a significant restructuring that will see it shut down its flagship Step Finance dashboard. The company is pivoting to concentrate on its growing media and analytics ventures, SolanaFloor and the crypto trading platform Remora.

A Shift Driven by Market Realities

In an official statement on November 5, the company explained the decision was made to streamline operations and focus on business areas with a clearer product-market fit. Step Finance, founded in February 2021, grew into a popular portfolio visualization and Decentralized Finance (DeFi) aggregation tool, at one point attracting around 300,000 monthly active users.

However, as DeFi activity declined across the crypto landscape, the company found it challenging to cover the high infrastructure costs required to maintain its complex data systems. The team noted that the market’s downturn and limited monetization opportunities forced a difficult reassessment.

“Maintaining this massive infrastructure is a burden which doesn’t make sense continuing with,” the team stated. “To get back to building new things quickly we need to take a flamethrower to the old stuff, torch it and start fresh.”

Future Focus on Media and Trading

As part of the wind-down, the Step Dashboard, its APIs, and the mobile application will cease operations next month. The company has advised users to withdraw any funds and find alternative services. Step Group confirmed that no layoffs will occur, and its native token will not be affected by the changes.

Going forward, the company will dedicate its resources to expanding SolanaFloor as its primary editorial and events platform. It will also develop Remora, its on-chain trading project. The restructuring also includes the launch of Step Ventures, a new investment arm created to pursue real-world opportunities and generate value for the broader Step ecosystem.