# STEP Report - February 2025
**URL:** https://forum.arbitrum.foundation/t/step-report-february-2025/28666
**Category:** STEP Applications & Updates
**Created:** [March 12, 2025, 12:32am UTC](https://forum.arbitrum.foundation/t/step-report-february-2025/28666 "2025-03-12T00:32:04Z")
**Posts on this page:** 6
**Page:** 1
### Author:  [@steakhouse](https://forum.arbitrum.foundation/u/steakhouse)
#### Post date: [March 12, 2025, 12:32am UTC](https://forum.arbitrum.foundation/t/step-report-february-2025/28666/1 "2025-03-12T00:32:04Z")
Steakhouse is pleased to share the February update for Arbitrum’s Stable Treasury Endowment Program. Like last month, we have included the month-end [PDF statement](https://drive.google.com/file/d/1RNrrTrCGvXq09s5osG0DVBmd1okd7yrG/view?usp=sharing) and a [Dune dashboard](https://dune.com/steakhouse/step-dashboard/1b508c7c-63ec-42e9-86d9-c3a86d23766e) with live data and portfolio analytics.
This report now includes life-to-date yields for each individual asset as of February month-end and a chart comparing those yields to the average three month treasury over the period the assets have been deployed.
Steakhouse is hosting open office hours for STEP 1 on [Friday, March 14th at 15:00 UTC](http://meet.google.com/xdy-xifj-bro). Details can be found on the public Arbitrum calendar. If you have any questions or suggestions for us as program manager or would just like to learn more, please join us!
A few things of note for this report:
- OpenEden has voluntarily refunded the 5bp ($1,734) mint fee incurred during the purchase of STEP’s TBILL allocation. The STEP wallet now holds 1,734 USDC
- Backed completed the partial refund of their mint fee (30bps or 92 bIB01 tokens)
- The BUIDL position was successfully moved to Arbitrum, and the PDF statement now accurately reflects only the interest related to the STEP assets
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### Author:  [@Vertex\_Protocol](https://forum.arbitrum.foundation/u/Vertex_Protocol)
#### Post date: [March 12, 2025, 3:59am UTC](https://forum.arbitrum.foundation/t/step-report-february-2025/28666/2 "2025-03-12T03:59:16Z")
> [@steakhouse](#):
>
> - the PDF statement now accurately reflects only the interest related to the STEP assets
Thank you for this part!
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### Author:  [@cp0x](https://forum.arbitrum.foundation/u/cp0x)
#### Post date: [March 13, 2025, 8:14pm UTC](https://forum.arbitrum.foundation/t/step-report-february-2025/28666/3 "2025-03-13T20:14:32Z")
Am I right in understanding that the profit for the entire period is indicated?
I would like to see the results by month (if such reports are monthly)
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### Author:  [@steakhouse](https://forum.arbitrum.foundation/u/steakhouse)
#### Post date: [March 14, 2025, 2:57pm UTC](https://forum.arbitrum.foundation/t/step-report-february-2025/28666/4 "2025-03-14T14:57:12Z")
Correct, this statement shows profit for the month ($102,451) as well as the life-to-date profit ($459,368). There are monthly reports on the forum starting in October 2024, although the specific monthly profits may be misleading as a result of the comingled BUIDL accrual. We are planning to post revised historical reports to manually adjust for this in the near future. Additionally, we can include historical monthly profits on the reports going forward.
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### Author:  [@steakhouse](https://forum.arbitrum.foundation/u/steakhouse)
#### Post date: [March 14, 2025, 2:58pm UTC](https://forum.arbitrum.foundation/t/step-report-february-2025/28666/5 "2025-03-14T14:58:38Z")
Just a reminder our office hours are set to start at the top of the hour! Call detail are here:
STEP 1 Office Hours
Friday, March 14 · 11:00am – 12:00pm
Time zone: America/New\_York
Google Meet joining info
Video call link: [https://meet.google.com/xdy-xifj-bro](https://meet.google.com/xdy-xifj-bro)
Or dial: (US) +1 617-675-4444 PIN: 138 733 355 6045#
More phone numbers: [https://tel.meet/xdy-xifj-bro?pin=1387333556045](https://tel.meet/xdy-xifj-bro?pin=1387333556045)
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### Author:  [@raam](https://forum.arbitrum.foundation/u/raam)
#### Post date: [March 17, 2025, 9:51am UTC](https://forum.arbitrum.foundation/t/step-report-february-2025/28666/6 "2025-03-17T09:51:01Z")
[STEP 1 Office Hours - 2025/03/14 14:57 GMT - Recording 2 - Google Drive](https://drive.google.com/file/d/1kEgKgrjk6eGh211Lp-bzT475oBMvgLMo/view?usp=sharing) here is the recording of Friday’s Office Hours.