Bulletin Board: February 27th
A lighter edition of the Bulletin Board today, wrapping up some of the key happenings from recent weeks.
sJOE is the new Staking option on the Trader Joe platform, that provides users with yield in the form of a Stablecoin, USDC.
The first payout of sJOE staking rewards is set to deploy on the 28th. All users must un-stake their JOE from xJOE staking or the xJOE farm and migrate to sJOE in order to receive USDC rewards. It is important to note that remaining in xJOE now has no benefit as it no longer receives any platform revenues.
Why Change xJOE to sJOE?
The transition to the sJOE Model will significantly improve User Experience (UX).
Removing the xJOE Interest Bearing Model allows for a Staking option that improves clarity on rewards and also lowers accessibility barriers. This combination improves the overall UX and therefore will help to increase demand for sJOE Staking.
xJOE was a ‘borrowed’ model from the xSUSHI Token. The interest-bearing mechanism is gas-efficient on the Ethereum blockchain. However, this is not a key problem present on the low-transaction fee Avalanche blockchain.
Using an interest-bearing model has a trade-off with UX, there is a lack of clarity around reward rate being accrued and also the model is confusing for newcomers into the DeFi space. sJOE allows for the instant ability to see yield and to also, claim the rewards just like a yield farm.
Lastly, why a Stablecoin instead of more JOE rewards?
There are two reasons for this:
- Remove the sell pressure caused by providing more JOE rewards
- Provide a versatile reward that facilitates further platform engagement
- Visit the docs to learn more: sJOE Staking
…Farewell sweat pig, you served us well.
sJOE on Partner Platforms
We’ve seen some quick integrations from both Yield Yak and More Money. You can checkout the links to the tweet announcements below:
The veJOE wait is almost over! veJOE is Trader Joe’s brand new Staking option, rewarding veJOE stakers with Farm Boosts in the form of more JOE Rewards as well as voting power for future Governance. veJOE stakers will receive veJOE tokens at a fixed generation rate, capped at 100X their JOE staked, increasing their JOE yield farming rewards by up to +150% (2.5X). In the coming weeks we will share more information about the deployment of veJOE.
Will there be veJOE wars…
3. Rocket Joe
FIEF Launch: Website Link
Rocket Joe’s first exclusive launch partner event, Fief Guild, has now concluded. Participants and Fief holders can now able to enjoy a double rewards FIEF-AVAX farm, rewarded in JOE and AVAX, which will run for 30 days, currently yielding over 100%:
If you want to find out more about Fief, Avalanche’s first economic guild for metaverse asset acquisition, listen to their recent AMA with Trader Joe:
Echidna Finance and Vector Finance
Rocket Joe’s first concurrent launch, featuring two Platypus Finance (PTP) yield boosting protocols, Echidna and Vector have just launched today! The Launches pulled in a combined 37k AVAX and are now underway in the final stage, with the Liquidity Pool Tokens ‘Locked’ for 3 days. The unlocking of the Liquidity Pool Tokens will happen on the 2nd of March, at 6pm UTC.
Make sure you visit the platforms linked below and find out how you can utilize your ECD/VTX, PTP, or Stablecoins to maximize and boost your yields.
Vector | Boost your Platypus and stablecoin staking
Vector Finance is a DeFi yield optimizer that can boost your crypto rewards on Platypus Finance.
The best yield boosting protocol for Platypus on Avalanche. Deposit your stablecoins and PTP to maximise your…
Rocket Joe’s next launch partner is Hoppers Game, an idle game where users participate in adventures to stake their Hoppers’ NFTs and earn $FLY. This will be yet another exclusive launch, with no token unlocks during the phases of Rocket Joe.
Wen Launch 🐸
- Deposits will open ‘soon’
- Launch parameters are currently being tweaked
- We expect to line up the Rocket Joe launch to be in sync with the Game
To find out more about Hoppers Game, listen to this recent AMA:
4. Farm Updates
Next edition of the Bulletin Board we’ll feature some of our Quant Team Takes, where we expand on the changes aligned to Farm emissions management, as well as some additional musings from the Team.
Check out the SubStack from one of the Team members here: https://substack.com/profile/1886505-cryptokam
Liquid Staking Is Here:
BENQI - Farm: sAVAX/AVAX and earn JOE + QI
The AVAX-sAVAX double rewards farm is now live on Trader Joe’s Farmers Market, with rewards in JOE and QI. sAVAX is a novel interest-bearing token that accrues interest through Avalanche staking rewards and can be acquired by staking AVAX for sAVAX on Benqi’s platform, or by swapping on Trader Joe.
Great Farms, Great Partners — Extended Double Rewards:
- Platypus: PTP / AVAX — Platypus.finance
- Domi Online: DOMI / AVAX — Domi Online
5. Other Updates
Trader Joe is excited to be partnering with Islander, the gamified learn-to-earn platform which rewards DeFi protocol advocates for completing project-themed quests. On March 28th Trader Joe community members can complete a series of tasks and be rewarded in $JOE. To get involved, complete the brief KYC and connect your wallet. Once confirmed, follow the instructions to complete Trader Joe’s bespoke fetch quests and a 6-question tokenomics quiz to earn $JOE — it’s that simple.
DeFi Watch integration
Trader Joe has integrated with DeFi watch, a platform providing users with convenient metrics and filters that allow for the clear tracking and management of positions across projects including Liquidity Pools, Farms, lending and much more.
OKX is the world’s largest cryptocurrency, spot & derivatives and bitcoin exchange. Where over 20 million users across 200 countries and regions trade. JOE is now listed on OKX:
Joe’s been thinking. The Cultivation Club is not quite what it used to be… Joe will be pushing through a new mandate, to reinvigorate and empower new actions from the Cultivation Club. Stay tuned for more details coming soon.
It’s not just devs that build — Trader Joe’s community team have been working closely with Gather Town to bring our users a fully functioning Metaverse space. The team have really enjoyed using Gather Town’s interactive environment for office meetings, and is excited to welcome members to our space for community calls and events. If you are a pixel artist looking to contribute to the expansion of Trader Joe’s Gather Town, please don’t hesitate to get in touch.
Trader Joe has expanded the number of localized Telegram Channels for non-English speaking communities. You can find the full list below. If you are a community manager with a proposition for new channels, please don’t hesitate to get in touch.
- French: https://t.me/traderjoexyz_fr
- Japanese: https://t.me/traderjoexyz_jp
- Turkish: https://t.me/traderjoe_xyz_tr
- Vietnamese: https://t.me/traderjoe_xyz_VN
- Mandarin: https://t.me/traderjoe_xyz_cn
Check out our new notion page, a smart hub collecting key resources and handy links and tips!
About Trader Joe
Trader Joe is a one-stop-shop decentralized trading platform native to the Avalanche blockchain. Trader Joe builds fast, securely and aims to serve the community at the frontier of DeFi. Maximize your yield generating activities under one fully integrated roof, providing you with a unique, innovative, and highly accessible DeFi experience.
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