Thread by @FrankVeFarmer

1/ Trader Joe’s new tokenomics (#sJOE, #veJOE) builds on a vastly adopted model first introduced by Curve. 🧵

TLDR: The more #veJOE you hold, the higher the boost you receive on certain pools. #sJOE entitles its holders to claim part of Trader JOE’s fees.

2/ @traderjoe_xyz is the second largest protocol on #Avalanche by TVL. It has a daily average volume of $75M, which comes crucial when talking about #sJOE.

3/ Furthermore, the protocol is backed by a very strong team 🧑‍💻
@cryptofishx @0xmurloc @DavideFi_ @blueclarityone

Thanks sers for making the best exchange on #Avalanche!

4/ The Trader Joe group has a variety of revenue streams:
1.Swap fees
2.Liquidation
3.Lending via Banker JOE
4.POL
5.@joepegnft

5/ By staking $JOE to the #sJOE staking pool, you will earn part of the protocol’s revenue in #USDC tokens.

❗️0.05% of all trades are paid to sJOE staking pool.
❗️This is where the $75M daily volume comes into play.
❗️Fees from lending & liquidation are also paid to sJOE.

6/ JOE’s new tokenomics also introduces the possibility for users to stake $JOE and accrue $veJOE tokens over time. veJOE allows users to:

✅ Get boosted farm rewards
✅ Participate in governance (coming soon)

7/ The more veJOE tokens you have compared to other holders in the same pool, the higher the boost will be, being capped at 150%.

⚔️ This encourages users to compete in order to claim dominance, leading to interesting PvP dynamics!

8/ Despite it sounding fun, this inevitably leads to individual users being unable to achieve a significant boost.

♻️ What if a single protocol started accumulating majority of veJOE tokens and allowed ALL farmers to take advantage of the protocol’s boost?

9/ This is where Farmer Frank steps in.

📃 Our main goal is to achieve the greatest stake in veJOE and democratizing their boost, providing it to all AVAX farmers.

10/ We will be selling Frank NFT bonds in exchange for JOE. This JOE is going to be locked into sJOE and veJOE forever, compounding frictionlessly without the holder having to do anything apart from claiming his rewards.

11/ In exchange for their JOE, bond holders will receive part of Farmer Frank’s revenue generated by:

✅ sJOE rewards
✅ Treasury assets farming rewards
✅ Boost kept by the protocol
✅ Governance & Bribing (coming soon)

12/ Once the protocol captures a major stake in veJOE, we will be launching Frank Farms. Basically, Farmer Frank’s treasury will act as a boost proxy for any farmer. Farmers will have access to boosted rewards without having to own veJOE.

13/ Farmers, however, won’t have access to the total boost, creating a revenue stream for Frank. The more bonds a user holds, the closer his boost will be to the protocol’s maximum one.

14/ ❗️Follow @FrankVeFarmer to stay update.

#Avalanche #AVAX #TraderJoe #sJOE #veJOE #JOE #AvalancheSummit