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In a blender or food processor, combine basil, scallions, lemon thyme, garlic, peperoncini, salt and lemon zest and juice. Pour olive oil over mixture; blend until it turns to paste.
Using paper towels, pat steak dry and place in a large bowl; slather paste mixture all over meat. Cover and refrigerate at least 30 minutes or overnight.
Light the grill or heat the broiler with the rack as close to the heat source as possible. Use a paper towel to pat steak dry. (You can leave some of the paste, but for the best sear, the meat should be dry when it hits the grill.) Grill meat over direct heat until char lines appear, and meat is done to taste, 3 to 5 minutes per side, or broil until charred, 2 to 5 minutes per side. Let rest for 5 minutes before slicing against the grain and serving, garnished with herbs and scallions.