Rocket Joe, Limitless Liquidity Launch platform on the Trader Joe

Introduction

Rocket Joe

What is Rocket Joe?

Core Protocol Features

  • Participating users can earn issuing protocol tokens through a fair market price discovery mechanism.
  • Participating protocols can use Rocket Joe to acquire Protocol Owned Liquidity (POL).
  • Protocols launching from Rocket Joe will be able to raise a larger pool of liquidity, based on consumer demand for the Issuing protocol token.
  • With a larger pool of liquidity being raised, this will discourage front-running bots, easing volatility and providing a favorable trading experience. Users and the Protocol launching, both benefit here.
  • Rocket Joe is also a complementary primitive, designed to run in concurrence with all existing Avalanche launchpads.

How can we access Rocket Joe Liquidity Launches?

How to acquire rJOE?

  • Exclusively earned via staking JOE (similar to a yield farm)
  • rJOE will be a new staking option for JOE Stakers

How to use rJOE?

  • Users can participate in Rocket Joe launch events by spending rJOE tokens, which represent allocation credits yielded from staking JOE.
  • Users will submit rJOE to enter a Launch, this unlocks the ability for the user to deposit AVAX into the Launch pool.
  • To deposit 1 AVAX a user will need to submit the total of 100 rJOE.
  • rJOE is a non-transferable token with an infinite supply.
  • rJOE is burned on use.

High-Level user guide for Rocket Joe

Rocket Joe: 5 steps for Launching

Pre-Launch

  • Users stake JOE to earn rJOE. rJOE is earned over time.
  • rJOE can be accrued and used for launches when they open for deposit.

Phase 1: Deposit (2 days)

  • When a launch opens for deposit, users can exchange rJOE to gain access to the launch pool.
  • Once users have entered the launch pool, they can deposit AVAX to the launch pool. The user will now be allocated a % of that pool based on their AVAX deposit.
  • Users can withdraw their deposit at any time, however, there is a maximum withdrawal fee of up to 50% that scales in the final 24 hours. This is to prevent price manipulation ahead of launch.

Phase 2: Withdrawal (1 day) (Optional)

  • To enable optimal price correction, users will be given a 24-hour window to withdraw their tokens at a fixed fee of 20%.
  • Users may want to withdraw at this stage, if they are not happy with the price of the Issuing protocol token.
  • If users are happy with the price and their allocation share, they can remain in the pool for the launch phase.

Phase 3: Launch (Up to 7 days)

  • Users will receive LP tokens composed of their deposited AVAX + The issuing protocol token.
  • LP tokens will be locked for 3–7 days, dictated by the issuing protocol.
  • This can be timed to coincide with the unlock of tokens from an IDO Launchpad.

Post-Launch

  • The Issuing protocol wishing to sustain accrued liquidity can do so by deploying a double reward farm on the Trader Joe platform.

How has Rocket Joe been built differently?

Rocket Joe compared to alternative solutions

Key Summary of Rocket Joe

  1. Stake JOE to earn rJOE and enter launches
  2. Rocket Joe Launches last for up to 10 days
  3. Launches can run concurrently with one another
  4. Complimentary to existing Launchpads on Avalanche
  5. Certain launch parameters can be customized by the issuing protocol
  6. Launches provide issuing protocols with Protocol Owned Liquidity
  7. Liquidity Pools are established pre-unlock of IDO Launchpad tokens
  8. Discourages frontrunning/sniper bots, due to larger liquidity pools
  9. Users can acquire newly launched protocol tokens, at fair market prices

Summary

Want to read the whitepaper?

📝Linked here

FAQ Section

Do I have to do anything with my JOE / xJOE now?

What is Protocol Owned Liquidity (POL)

Can I withdraw from Rocket Joe?

  • On day 1 there is a 0% charge for withdrawal
  • On day 2 there is a scale increasing from 0% to 50% over the 24 hours
  • On day 3 there is a fixed 20% withdrawal fee

Why is there a withdrawal fee?

If withdrawing do users get AVAX or rJOE back?

Where is the withdrawal fee paid?

Under-subscription or Over-subscription

Why is rJOE needed?

How can I earn rJOE?

Are there limits when staking for rJOE?

What happens to rJOE after it is spent?

Is rJOE transferable?

Can users participate in multiple Rocket Joe Launches?

Is Rocket Joe permissionless?

About Trader Joe

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One-stop Trading Platform on Avalanche

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One-stop Trading Platform on Avalanche

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