Understanding veJOE
A deep-dive into the veJOE staking
VeJOE is Trader Joe’s staking option that allows users to stake their JOE into the protocol to earn veJOE.
veJOE allows users to gain higher JOE farming yields from select boosted farms
veJOE holders will also receive governance privileges, which will be a future addition to veJOE.
Staking with JOE
When it comes to staking your JOE tokens, holders have three options:
rJOE Staking: rJOE is an allocation token used to enter Rocket Joe launches
sJOE Staking: sJOE Staking provides users with yields in the form of a stablecoins
veJOE Staking: veJOE Staking provides users with boosted JOE farm rewards
The basics of veJOE
veJOE is Trader Joe’s staking method that allows users to stake their JOE into the protocol to earn veJOE. veJOE allows users to gain higher JOE farming yields.
veJOE provides up to +150% (2.5x) higher JOE yields
Stake JOE into veJOE to earn boosted JOE rewards from select farms
By staking your JOE tokens into veJOE staking, you earn more JOE! And the more JOE you have to stake, the higher the rewards you can make. That's where SteakHut comes in...
Zapping your JOE with SteakHut
By joining the SteakHut Herd and Zapping your JOE, we can put our JOE together and generate the highest yields!
By operating and leveraging large economies of scale (The Herd) we are able to take advantage of the veJOE Staking Pool's Player vs Player model. This allows the SteakHut protocol to provide large boosted yields for the SteakHut Herd.
veJOE incentivizes Farmers to not sell their JOE Rewards:
The more JOE you have Staked into veJOE, the more veJOE you can earn overtime
The more veJOE you accrue, the higher your JOE Farm Yields will be
If you unstake any amount of JOE from veJOE you lose all accrued veJOE
The more veJOE you have the more voting power you will receive for future Governance
If you top-up more JOE Tokens to your existing Stake, you can activate a veJOE accrual boost
Top up more than 5% of your existing Staked JOE to activate this boost
The Speed Up mechanic is there to allow for new users to catch up with existing veJOE Stakers
By participating in SteakHut’s large “Herd” pools we look to optimize all contingencies of the veJOE farming protocol to deliver the strongest possible returns to investors.
This means:
The SteakHut Herd and JOE Wars
By working together we are able to take advantage of the veJOE Staking Pool's Player vs Player model, and acquire governance of the veJOE farming protocol.
SteakHut will not only deliver higher returns but also acquire governance through veJOE
veJOE's PVP farming model functions by rewarding higher boosted yields for the more veJOE you have. By aggregating or pooling your JOE with the SteakHut Herd we are able to capture larger boosted yields than would be possible on an individual basis.
Blackholing Joe and Leading the Fight!
SteakHut’s sole goal is to optimize veJOE yields and provide the best possible returns to the Herd. SteakHut’s protocol is designed to work hand-in-hand with JOE’s veTokenomics.
When JOE tokens are Zapped with the Herd, we put your tokens to work! 🚜
By blackholing JOE tokens, we diamond-hand them to hold forever and earn the highest possible rewards for the Herd.
As our blackholed JOE tokens increase, so does our control in the JOE Wars and our influence over the protocol. By commanding a large supply of circulating JOE tokens, we can lock these in the SteakHut protocol forever and away from other competitors.
Example Benefits of Staking with SteakHut
A simple example of staking into the TraderJoe Boosted Masterchef contract can be seen below, whereby you can achieve the same amount of JOE per second with less than half the amount of LP tokens if you just accumulated 100 veJOE.
Alice
100
1,000
2.5
2,500
0.5
0.5
Bob
0
2,500
1
2,500
0.5
0.5
Total
100
3,500
5,000
1
1
The example has been expanded below to demonstrate the power of staking with the SteakHut Herd. SteakHut incentivizes users allowing the protocol to accumulate significantly more veJOE than what's possible staking alone.
With SteakHut you can receive a much higher boosted multiplier than if farming alone
You
100
1,000
316.227
0.2
0.0965
0.2965
Bob
200
1,000
447.213
0.2
0.1364
0.3364
SteakHut
300
1,000
547.722
0.2
0.1671
0.3671
Totals
3,000
1311.164
1.0000
By leveraging the power of the Herd, you will be able to generate significantly increased yields than if you were to stake individually through Trader Joe.
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