Thoughts on new @traderjoe_xyz tokenomics. 🧵
TJ is the biggest dex on #AVAX and its revenue is no joke. However, it’s revenue sharing model; xJOE - adopted from xSushi - is an obviously failing mechanic that rewards dumpers more than stakers.
Time for innovation:
TJ is the biggest dex on #AVAX and its revenue is no joke. However, it’s revenue sharing model; xJOE - adopted from xSushi - is an obviously failing mechanic that rewards dumpers more than stakers.
Time for innovation:
1) rJOE
You can stake ur JOE for rJOE. It cannot be traded. It’s burned when used to enter a launch.
Right now, when contracts go live, it is sniped by bots and exploited. Rocket Joe fixes this by allowing people to have a fair shot at launches but with rJOE ticket.
You can stake ur JOE for rJOE. It cannot be traded. It’s burned when used to enter a launch.
Right now, when contracts go live, it is sniped by bots and exploited. Rocket Joe fixes this by allowing people to have a fair shot at launches but with rJOE ticket.
with #avax txs nearing dailies of #ethereum, and TJ being THE dex of avax eco, its whitelist important. And a new project may not receive it if not partnered with Rocket Joe. TJ may become the Steam/CEX of avax defi eco.
rJOE cannot be traded. Whales can’t just come in and assume purchasing power of Rocket Joe launches. Only way in is by accumulating rJOE via staking your JOE. TJ team always in considerstion of us Joe’s. rJOE is your ticket to altcoin adventures.
2) sJOE
Stablecoin yields. Instant gratification of TJ’s massive revenue, shared exclusively with sJOE holders. Market buying JOE for xJOE holders sadly benefits dumpers too. xJOE holders need not sell their yields anymore as it comes in stables already. This may even add -
Stablecoin yields. Instant gratification of TJ’s massive revenue, shared exclusively with sJOE holders. Market buying JOE for xJOE holders sadly benefits dumpers too. xJOE holders need not sell their yields anymore as it comes in stables already. This may even add -
-buy pressure as the stable yields may be used to buy more JOE (mimicking old xJOE mechanic). In the least, this reduces sell pressure of dumping rewards. There is a deposit tho, which scales based on demand. This will work as a soft locking period to incentivize longer holdings.
The deposits are also paid to existing sJOE stakers. Faster you stake, and longer you stake, the juicier the rewards.
3) veJOE
This is a big one. Stake your JOE to earn veJOE, which can amplify selected farm rewards and gives you governance. All veJOE will perish upon unstaking your JOE.
Only the most devoted to the protocol may vote. And you cannot buy veJOE, it must be accumulated via stake.
This is a big one. Stake your JOE to earn veJOE, which can amplify selected farm rewards and gives you governance. All veJOE will perish upon unstaking your JOE.
Only the most devoted to the protocol may vote. And you cannot buy veJOE, it must be accumulated via stake.
veJOE is pvp. Your boost in a farm is relative to others and their veJOE holdings in the same farm. The accrual boost system along with its pvp nature incentivizes even more JOE lockings. This is likely a long term play intended for whales and protocols.
If executed right, #JOE may become the most important token in #avax eco. Protocols may use their treasury to buy JOE and fight over gauge and yields. JOE may become the backbone of all avax defi yields.
Three new ways to stake your JOE rather than to sell it. Different flavors that befit degens, humble farmers and whales alike. Will this finally prove that there is more value to holding JOE than to dumping it daily? Only time will tell.
Really excited for the new tokenomics. Feeling very bullish over the new tokenomics. What a team. @traderjoe_xyz @0xmurloc @cryptofishx
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