Farming Phase 2 Details (Aug-3)

TLDR; Announcing updated farm weights, including the new single-sided xJOE farm. Going live Aug-3, 10AM EST.

On Aug-3, our token emissions will decrease from 30 to 20 JOE tokens per second. As a result, we will be optimizing farm emissions to reward our JOE token hodlers.

Single-sided xJOE farm

Our new xJOE farm will serve to incentivize users to stake JOE tokens to xJOE. Its benefits include:

  • No impermanent loss
  • Up-only; xJOE to JOE ratio only ever goes up. (Read here for more)
  • Farm weight: 12X

JOE farms

  • JOE/WAVAX: 30X
  • JOE/USDT: 20X
  • JOE/DAI: removed
  • JOE/PNG: removed

AVAX farms

  • WAVAX/WETH: 18X
  • WAVAX/USDT: 20X
  • WAVAX/LINK: 8X
  • WAVAX/WBTC: 5X
  • WAVAX/SNOB: 10X
  • WAVAX/XAVA: 8X
  • WAVAX/VSO: 5X
  • WAVAX/PNG: 3X
  • WAVAX/PEFI: 3X
  • WAVAX/SHERPA: 3X
  • WAVAX/ELK: 2X
  • WAVAX/LYD: 1X
  • WAVAX/SPORE: 1X
  • WAVAX/HUSKY: 1X
  • WAVAX/WET: 1X
  • WAVAX/DAI: removed

Stable farms

  • USDT/DAI: 2X
  • WBTC/USDT: 1X
  • LINK/USDT: 1X
  • WETH/USDT: 1X

Rationale

The main point is that liquidity is not the only factor in our choice of multiplier; as explained in our previous post, we also take into account the trading volume of that pool too.

Aside from that we also look at on-chain data to see the current liquidity of each token. For example, liquidity for USDT is double that of DAI.

Lastly, we’re optimizing our strategy to try to capture liquidity coming over the new AB bridge.

Understandably, there will still be lots of questions about our choices of farm weights, so we encourage you to attend our AMA tomorrow with details below.

What’s Next

We’re not done! The regular farmers on our platform will know that we continuously monitor and optimize our farm strategy. We’re excited to see how the community responds to our new xJOE farm, and how that changes the token flows on our platform.

Join us on Aug-3, 10:30pm EST for our Community AMA on our Telegram channel. We’re happy to hear your suggestions and feedback.

Website | Twitter | Discord | Telegram

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