# Welcome to SteakHut The Liquidity Layer of Web3 **SteakHut Finance** is the liquidity layer of Web3. SteakHut offers a diverse portfolio of tools for individuals, institutions, and protocols to unlock the full potential of DeFi. $STEAK, our governance token benefits from revenue rewards generated by the protocol. ## [**SteakHut Liquidity**](/getting-started/liquidity) SteakHut liquidity is a first-of-a-kind decentralized market-making platform creating active liquidity management solutions on top of Trader Joe's Liquidity Book. Users can access a range of liquidity provisions from passive to actively managed strategies, taking the work and complexity out of their liquidity management and automating the process for complete efficiency. SteakHut also works with leading protocols across Web3 to help facilitate deep, efficient liquidity for everyone's favorite tokens. SteakHut Liquidity makes managing your concentrated liquidity easy on Trader Joe's Liquidity Book. ## [**veToken Aggregator**](/getting-started/ve-joe-farms/vejoe-boosted-farms) SteakHut allows Trader Joe farmers to earn trading fees and claim boosted $JOE rewards without accumulating veJOE themselves. Users can also choose to Zap their $JOE with the SteakHut protocol to earn $STEAK emissions. $JOE tokens are then blackholed by the protocol and staked to accumulate further veJOE. In essence, SteakHut allows you to enjoy boosted yields on your Trader Joe farming, even if you don't own any JOE. ## [**Accessible Low-Cost DeFi**](/getting-started/auto-compounding-vaults) SteakHut is Avalanche's low-cost accessible yield aggregation protocol. Access a range of low-cost vault strategies that automatically generate yield and frequently auto-compound your rewards. This benefits farmers with higher APYs, not requiring active management and lower gas fees. # SteakHut Benefits The Power of the SteakHut Herd! ## Why Join the Herd? {% hint style="success" %} Automate & optimize your concentrated liquidity {% endhint %} {% hint style="success" %} Choose from a diverse range of liquidity provisions {% endhint %} {% hint style="success" %} Significantly boosted Trader Joe farming yields {% endhint %} {% hint style="success" %} Lowest fees, highest returns {% endhint %} {% hint style="success" %} Automate your farming with compounding vaults {% endhint %} ## **Diverse Liquidity Provisions** SteakHut offers a diverse selection of liquidity provisions across Trader Joe’s Liquidity Book. Managing concentrated liquidity is usually inefficient and costly for the average user, and even more so for projects who are tasked with the complexities of managing Protocol-Owned-Liquidity which can be quite time-consuming. SteakHut simplifies and automates your liquidity management across a range of passive and managed liquidity provisions. ## Lowest Fees, Highest Returns SteakHut is a community focussed platform designed to deliver value back to our users. SteakHut is committed to bringing low-cost accessible DeFi options to Web3. The remaining proportion of rewards are received by $STEAK, SteakHut's native token. ## Automate your farming SteakHut offers the lowest-fee auto compounding vaults on Avalanche. Stake your token to automate your farming, rewards are automatically harvested and reinvested into the strategy to grow your deposit. Gas fees are socialized amongst vault users. {% content-ref url="/pages/xdESECMjsCSoWeaf8jTa" %} [Fees and Rewards](/steakhut-protocol/fees-and-rewards) {% endcontent-ref %} # Mechanics How does SteakHut work? ## SteakHut Liquidity SteakHut Liquidity offers a very simple solution to automatically manage your tokens on Trader Joe's Liquidity Book (DEX V2). Concentrated liquidity adds further complexities to providing liquidity. Users are now tasked with choosing a price range, and distribution type and manually rebalancing and reinvesting rewards. SteakHut Liquidity automates this entire process. With SteakHut Liquidity users can stake their tokens and our smart contracts automate the liquidity management process to optimize your liquidity. ## veJOE Boosted Pools ### Accrue veJOE With SteakHut, users are able to Zap their JOE to hJOE (Herd JOE). Once converted, the protocol automatically stakes it into Trader Joe's veJOE modular staking. By staking JOE, the platform accrues veJOE. ### Boost Yields Accruing veJOE allows SteakHut to offer attractive farming yields for the entire SteakHut Herd. By working together and using SteakHut's veJOE pools, SteakHut is able to achieve much higher yields for users than base farming with Trader Joe. Users can deposit their LP tokens into SteakHut's boosted pools without having or Zapping any $JOE tokens. The SteakHut platform, like other models, will charge a small performance fee on our pools. This will be operated on a sliding scale from 3-20% optimized for the best outcomes for our users. All fees will be returned 100% to the community. **The performance fee will be utilized as follows:** * Retained for $STEAK-Holders and returned via [Buy-Backs](broken://pages/JyVx9y4fLOdVrS5zKA6s) and [profit shares ](broken://pages/g2NTYGfh7ubbzYrRtYGV)(50%) * Distributed to JOE Zappers to incentivize Zapping (50%) *Initially, Zappers will be able to stake hJOE to receive $STEAK* emissions *instead of profit shares. As the protocol matures users will be able to stake hJOE and receive profit shares.* *The profit share of fees will be split evenly between Zappers and STEAK-Holders. This split will be subject to change over time to better optimize the goals of the community.* ### Become a STEAK-Holder $STEAK is the governance token for SteakHut Finance. Holders can receive returns through revenue share staking. There are limited ways to become a STEAK-Holder: * Users can swap their tokens to $STEAK on the Trader Joe DEX * Users can bridge $STEAK cross-chain through the SteakHut dApp * Users who Zap their JOE into hJOE will receive $STEAK emissions * Through other limited special airdrops and promotional activities {% hint style="info" %} Early JOE Zappers in the SteakHut protocol will be eligible for $STEAK emissions! {% endhint %} {% content-ref url="/pages/XIG4XRnSCnPLYqkonz56" %} [SteakHut for DEX V2 Pools](/getting-started/mechanics/steakhut-for-dex-v2-pools) {% endcontent-ref %} {% content-ref url="/pages/Zb8QKhKYJ00869ImznzK" %} [SteakHut for JOE Zappers](/getting-started/mechanics/steakhut-for-joe-zappers) {% endcontent-ref %} {% content-ref url="/pages/fwxxVBgDAwByXOvwu7qP" %} [SteakHut for DEX V1 Pools](/getting-started/mechanics/steakhut-for-dex-v1-pools) {% endcontent-ref %} {% content-ref url="/pages/R2TzzcBDOHQYhTcwYV0m" %} [SteakHut for STEAK-Holders](/getting-started/mechanics/steakhut-for-steak-holders) {% endcontent-ref %} # SteakHut for DEX V2 Pools Making concentrated liquidity easy. SteakHut Liquidity allows users to easily automate and optimize liquidity on Trader Joe V2, The Liquidity Book. Concentrated Liquidity can be difficult for liquidity providers. Users now have to select their liquidity ranges and rebalance and reinvest their rewards up to multiple times per day. SteakHut Liquidity does this for you, allowing you to get the most out of your tokens. ## Deposit your Tokens with SteakHut and enjoy: * [x] Optimized liquidity pool rewards * [x] Automated bin rebalancing * [x] Auto-compounding of rewards
## What are the Fees > SteakHut Liquidity operates a performance fee between 5-20% SteakHut's focus is on delivering low fees and large returns to liquidity providers. This fee is variable between 5% - 20% and will depend on the token pair and the pooling strategy you are deposited in. For more information refer to [Fees and Rewards](/steakhut-protocol/fees-and-rewards). For a fee breakdown on your strategy select "Information" on your strategy within the SteakHut dApp. {% content-ref url="/pages/qiFGz95hqyRFkzSbDrDE" %} [Depositing tokens into SteakHut liquidity](/basics/depositing-tokens-into-steakhut-liquidity) {% endcontent-ref %} # SteakHut for DEX V1 Pools I'm Just here for boosted yields Ser! With SteakHut users are able to deposit LP tokens and earn boosted yields, even without staking JOE! ## Deposit your JLP Tokens with SteakHut and Earn: * [x] Significantly boosted Trader Joe farming yields * [x] Zero deposit and withdrawal fees * [x] Portfolio tracking features * [x] Special limited promos ![](/files/Mwa9ZNdy9AoWKXHqiovC) With SteakHut’s large supply of veJOE thanks to the Herd’s hardworking JOE, users can take advantage of our boosted pools and utilize our veJOE for significantly boosted yields. {% hint style="success" %} Yields are paid out in JOE tokens! {% endhint %} ## What are the Fees? SteakHut's focus is on delivering low fees and large returns to JLP Depositors. This fee is variable between 3% - 20% and will depend on TVL and our competitor's rates. For more information refer to [Fees and Rewards](/steakhut-protocol/fees-and-rewards). {% content-ref url="/pages/bTPBTc4JysfT4kPegkO5" %} [Depositing your JLP Tokens](/basics/depositing-your-jlp-tokens) {% endcontent-ref %} # SteakHut for JOE Zappers Zippity Zap! With SteakHut users can convert their JOE into hJOE and join the SteakHut Herd so we can all enjoy boosted yields! ## Zap your JOE for hJOE and Earn: * [x] $STEAK Emissions through hJOE staking * [x] $JOE profit shares through $STEAK staking * [x] Special limited promos ![](/files/YNEDa0GsXrrPFCVggxBR) ## Emissions for JOE Zappers Initial JOE Zappers will be eligible to receive $STEAK emissions for their contribution to the SteakHut Herd. {% hint style="info" %} By Zapping your JOE early on, you may be set to **earn passive income forever** by receiving and staking $STEAK emissions! {% endhint %} $STEAK emissions are utilized to incentivize Zapping and reward our Zappers. By becoming $STEAK-Holders, the initial JOE Zappers are eligible to receive profit shares from SteakHut fees. ## Profit Share for JOE Zappers As the SteakHut protocol matures we will be looking to move away from emissions and begin rewarding zappers with a direct profit share for staking their hJOE. By staking their hJOE, JOE Zappers will be rewarded with a share of revenues generated by veJOE protocol fees. The profit share will be paid out of revenues generated by the platform's veJOE performance fees. The fees will be operated on a sliding scale from 3-20% optimized for the best outcomes for LP depositors, Zappers, and STEAK-Holders alike. The performance fee will be utilized as follows: * Distributed to $STEAK-Holders (50%) * Distributed to JOE zappers to incentivize zapping (50%) initially Zappers will be incentivized with $STEAK emissions. The 50/50 split is subject to change as the protocol matures. {% content-ref url="/pages/Ocu8ZIWSLjcUg3nnmIow" %} [Zapping JOE and Staking hJOE](/basics/zapping-joe-and-staking-hjoe) {% endcontent-ref %} {% content-ref url="/pages/1AuJqJBTPWtvVi1ktaLs" %} [Understanding hJOE](/steak-o-nomics/tokens/understanding-hjoe) {% endcontent-ref %} # SteakHut for STEAK-Holders $STEAK = gud token ## With $STEAK you can unlock: * [x] Revenue rewards from STEAKING * [x] Governance voting rights * [x] Special limited promos ## Revenue rewards for STEAK-Holders STEAK-Holders can stake their $STEAK into the rewards STEAKING application to start earning real-yield rewards generated by the SteakHut platform. The profit share will be paid out of revenues generated by the platform's performance fees. {% content-ref url="/pages/uQ7lJ4SHeftCRD5gGyyt" %} [STEAKING](/getting-started/steaking) {% endcontent-ref %} {% content-ref url="/pages/0IFd7W6g4Sokchq511Ql" %} [$STEAK](/steak-o-nomics/usdsteak) {% endcontent-ref %} # STEAKING Unlock the full potential of your $STEAK The Steaking application gives STEAK-Holders access to modular staking applications accessible by converting STEAK to xSTEAK. STEAKING 2.0 creates a new infrastructure layer building the foundation of modular staking applications. The first application plugin is the rewards application. STEAKING allows SteakHut to introduce future applications in the future. STEAKING applications become accessible by first converting STEAK to xSTEAK.
## What is xSTEAK? xSTEAK is a non-transferable escrowed governance token, corresponding to locked STEAK. STEAK can be directly converted to xSTEAK via the SteakHut dApp. xSTEAK allows for the ability to allocate it to plugins, allowing for modular staking applications. The operation consists of staking xSTEAK into desired application in exchange for various benefits. * Name: xSTEAK * Chain: Avalanche * Contract: 0x902Aa4cC3b463c84541C9C1DeDF50620C99950B9 ## Steaking Applications {% content-ref url="/pages/gsHFXctWhoxT5z0CksRi" %} [Rewards](/getting-started/steaking/rewards) {% endcontent-ref %} ## xSTEAK Conversions STEAK and xSTEAK can be converted into each other within the SteakHut dApp. Converting xSTEAK back to STEAK involves a vesting period. ### STEAK to xSTEAK conversion STEAK can be freely converted into xSTEAK at any time. The process is instant, and the ratio is 1:1. ### xSTEAK to STEAK conversion xSTEAK is escrowed STEAK that can be redeemed by vesting. The user can select the vesting duration when converting xSTEAK to STEAK. The conversion ratio increases proportionally with the vesting duration: * The minimum vesting duration of 10 days will provide a 1:0.5 ratio * The maximum vesting duration of 45 days will provide a 1:1 ratio If the selected vesting duration is lower than the maximum (ratio < 1:1), the excess STEAK is returned to the SteakHut treasury. ## Canceling vesting While vesting if a user decides to cancel the vest this is possible from the [contract](), Cancel Redeem -> enter 0 and write. ## Reward allocation While being redeemed, the xSTEAK will automatically receive rewards from the [reward application](/getting-started/steaking/rewards), but only at 50% of the value, while waiting for the vesting schedule process to complete. # Rewards Enjoy real-yield rewards from the SteakHut platform Users can allocate their xSTEAK to the rewards staking application to earn a share of real-yield protocol rewards. Rewards are distributed in the form of one or more tokens and are distributed continuously (reward/second), through weekly epochs. ## Epochs The distribution is based on a weekly epoch logic: every week, a fixed part of the owner-defined accumulated tokens is marked as to be distributed. This is then distributed at a constant rate over 7 days. Rewards will be accrued from across the SteakHut platform: V1 pools, liquidity vaults, auto compounding vaults. ## Payouts handling The rewards attributed to the reward application are paid out equally throughout 7 days, and earnt in real-time, each second by users with xSTEAK allocated to the rewards application, proportionally to their share of the total allocation. Users can harvest their rewards at any time. ## Deallocation Deallocating xSTEAK from the Rewards plugin will stop the user from earning rewards. This can be completed at any time. The deallocation fee is 0.5%, users who hold a STEAK.jpeg NFT are exempt from the deallocation fee. # Liquidity Automate your Trader Joe V2 Liquidity With the introduction of concentrated liquidity on Trader Joe V2, SteakHut has created a concentrated liquidity management service, to automate liquidity management for LPs, protocols, and token pairs. SteakHut offers a diverse range of liquidity provisions using our passive and actively managed liquidity vault structures. SteakHut simplifies the process of concentrated liquidity. This saves time and resources for liquidity providers across Avalanche. ## The Downfalls of Traditional Liquidity SteakHut liquidity is a necessary response to the many downfalls that protocols and liquidity providers face across traditional liquidity options: > ***Fragmented Liquidity:** Liquidity has become fragmented across blockchains, DEXs, and price ranges.* > > ***Stagnant Liquidity:** In constant-function AMM models, liquidity is spread thinly across an infinite price range. Meaning liquidity is deployed inefficiently, leading to lower efficiencies and lower swap fee rewards.* > > ***Expensive Liquidity:** The traditional approach to liquidity is a costly endeavor for protocols seeking liquidity. Liquidity is deployed in an inefficient way and token emissions are used to incentivize liquidity in a model that introduces inflation, high costs, and timely off-chain processes for liquidity seekers.* > > ***Complex liquidity:** Next-generation concentrated liquidity AMMs drastically improve upon the downfalls of traditional liquidity, however often at the cost of added complexity. Concentrated liquidity can make it difficult to manage and optimize liquidity.* > > ***Impermanent loss:** Concentrated liquidity AMMs introduce further risks to LPs, with a large majority of LPs receiving negative returns after factoring in impermanent loss. Variable fees introduced by the Liquidity Book solve this problem by adding further rewards for LPs during times of volatility.* > > ***Time-intensive liquidity:** Concentrated liquidity removes the set-and-forget liquidity options LPs have grown accustomed to. In order to optimise liquidity, LPs will be required to manage, redistribute and reinvest rewards manually.* ## **Passive Liquidity Provisions** Many liquidity providers will be accustomed to depositing their tokens into a liquidity pool or farm and passively earning rewards. SteakHut’s passive liquidity provisions offer LPs a range of “set-and-forget” liquidity options to deposit their tokens and optimize their returns. Once deposited, your tokens will be rebalanced and reinvested automatically by our contracts. This will work to ensure that your liquidity always operates within the bounds of the strategy you choose, saving you time and gas having to manage your own liquidity daily. ## **Active Liquidity Provisions** Liquidity should not be treated as a one-size-fits-all approach. The liquidity Book allows for endless ways to structure your liquidity depending on your risk tolerance and objectives. SteakHut allows for “Strategists” to also create actively managed vault strategies. Users can read the philosophy behind the strategies, check past performance and easily stake their tokens into the strategy. Strategists are then able to structure liquidity and call a rebalance and reinvest as required to manage the liquidity around their investment philosophy. ## **Liquidity as a Service** For protocols operating with Trader Joe LP tokens or holding POL, SteakHut’s active liquidity product offers a new primitive to create liquidity strategies. For lending protocols, this allows concentrated liquidity pairs to be accepted as collateral. The protocol can then create permissionless strategies of various complexities. SteakHut will then act as the liquidity layer rebalancing and compounding liquidity around the set standards. With SteakHut you can create your own permissionless automated liquidity provision strategies. ## LP Tokens When providing liquidity into SteakHut Liquidity. Users will be given an ERC-20 LP token as the vault receipt token. These tokens act as an ERC-20 wrapper for Trader Joe DEXV2 liquidity and can be used by partnering protocols for a variety of utilities. ## **Liquidity Performance Fee Structure** > Stable/Stable Pairs (ex USDC/USDT)= 5% > > Pegged Pairs (ex WBTC.e-btc.b) = 5% > > Non-Stable Pairs (ex AXAX/USDC)= 10-15% > > Custom strategies = 10-20% SteakHut's focus is on delivering low fees and large returns to liquidity providers. The fee will vary depending on the token pair and the pooling strategy you are deposited in. For more information refer to [Fees and Rewards](/steakhut-protocol/fees-and-rewards). For a fee breakdown on your strategy select "Information" on your strategy within the SteakHut dApp. ***Fee Example:*** ***User stakes:** $1000 in USDC/USDT passive strategy with a fee of 5%.* ***User yields:** 20% from swap rewards* *Over the course of 1 year, the user accrues $200 in rewards. A 5% performance fee is acquired on the rewards, meaning the user accrues $10 in fees and keeps $190 of rewards.* # Passive Strategies Automate and optimize your liquidity! Most users will be accustomed to a set-and-forget approach to liquidity providing. Concentrated liquidity allows for greater opportunities for liquidity providers, but at the added cost of a complex, and time-consuming liquidity management process. SteakHut's passive liquidity provisions completely automate your liquidity. The passive liquidity vaults automatically rebalance capital around the active price range, auto-compound trading fees, and rewards, and optimize your liquidity structure. ## Liquidity Structuring When depositing tokens users are able to choose between one of two passively managed options for each pool type: * Balanced * Concentrated SteakHut’s strategies are uniquely designed for each token pair, non-stable strategies utilize a [Dynamic strategy](/getting-started/liquidity/passive-strategies/dynamic-range-strategy), while the Stablecoin pairs will use SteakHut’s [Stable strategy](/getting-started/liquidity/passive-strategies/stable-strategy). # Stable Strategy ### Description Liquidity ranges are set at various bin positions surrounding `bin 8388608` depending on backtesting results. For more volatile stablecoin pairs, wider bin ranges will be used. For less-volatile pairs, narrower bin ranges will be used. Liquidity will only be deployed when the active bin is at `bin 8388608`, to maintain vault ranges and minimize the impacts of slippage. ### Balanced Stable Strategy Balanced strategies utilize a gaussian type distribution and provide liquidity across a larger range. Over a relatively larger range, the gaussian-like distribution of liquidity results in higher capital utility. During more volatile market conditions this strategy is expected to outperform a concentrated option. ### Concentrated Stable Strategy Concentrated strategies utilize an even type of distribution and provide liquidity across a tightly concentrated range. Over a relatively tight range, the even-like distribution of liquidity results in higher capital utility. During more stable market conditions this strategy is expected to outperform a balanced option. ### Applicable Pool Types Stable-stable asset pairs closely trading in parity *Example Pools: USDC.e-USDC, USDT-USDC, USDT.e-USDT* ### Advantages * Accrued fees will be compounded back into the position regularly on behalf of LPs compounding yield. * The strategy will enable LPs to capture a large range of profitable swap fees. * The strategy is non-rebalancing to mitigate the impacts of IL. ### Risks * During times of high volatility in the markets, the allocation of assets could vary quite significantly from 50/50. * Compounding and deposits during highly volatile times will not be deposited until `bin 8388608` is reached, which may lead to temporarily lower APRs. * The liquidity book requires deposited reserves to meet a bin's composition. As such, amounts deposited when the active bin is outside of `bin 8388608` may result in some slippage. # Dynamic Range Strategy ## **Description** Liquidity ranges are automatically rebalanced when certain rebalance triggers are hit. A rebalance is automatically triggered as the active price approaches the edge of the liquidity range. A second rebalance is then called after the active bin retreats into the liquidity range of the opposing token. This rebalance acts to bring the vault ratio back towards 50:50 and helping to reduce divergence risk. Rebalancing is executed within range to limit the swapping of tokens which could otherwise incur swap fees. ## Balanced Dynamic Strategies Balanced dynamic strategies utilize a relatively wide range, with an even distribution. A wider-range results in fewer rebalances and takes into account higher token pair volatility. ## Concentrated Dynamic Strategies (Coming Soon) Concentrated dynamic strategies utilize a relatively concentrated range, with an even liquidity distribution. A concentrated strategy caters to users with a higher risk preference. A narrower liquidity range allows the strategy to capture higher swap fees but is more susceptible to divergence loss and rebalancing costs during volatile markets. ## **Applicable Pool Types** Stable-volatile pairs, volatile-volatile asset pairs ## **Example Pools** AVAX-USDC, WETH.e-USDC, JOE-AVAX ## **Advantages** * Rebalancing is executed automatically allowing for the optimization of liquidity to active price ranges. * Accrued fees will be compounded back into the position regularly on behalf of LPs compounding yield. * Wider ranges generally experience less divergence loss and experience lower rebalancing costs. Balanced strategies tend to outperform concentrated during volatile markets and over longer time periods. * In a low-volatility environment, narrower ranges generally earn more in fees and tend to outperform wider ranges. ## **Risks** * During times of high volatility in the markets, the allocation of assets could vary quite significantly from 50/50. * In a low-volatility environment, wider ranges may earn less in fees and underperform concentrated strategies. * In a high-volatility environment, concentrated ranges will incur more divergence loss and rebalancing costs. # Pegged Pair Strategy ## Strategy One (Constant price, non-rebalancing) ### Description Liquidity ranges are set at various bin positions surrounding `bin 8388608` depending on backtesting results. For more volatile pegged pairs, wider bin ranges will be used. For less-volatile pairs, narrower bin ranges will be used. Liquidity will only be deployed when the active bin is surrounding or at `bin 8388608`, to maintain vault ranges and minimize the impacts of slippage. ### Applicable Pool Types Stable-stable asset pairs trading out of parity or pegged pairs trading around a constant price *Example Pools: WBTC.e-BTC.b* ### Advantages * Accrued fees will be compounded back into the position regularly on behalf of LPs compounding yield. * The strategy will enable LPs to capture a large range of profitable swap fees. * The strategy is non-rebalancing to mitigate the impacts of IL. ### Risks * During times of high volatility in the markets, the allocation of assets could vary quite significantly from 50/50. * Compounding and deposits during highly volatile times will not be deposited until either`bin 8388608` or surrounding bins are reached, which may lead to temporarily lower APRs. * The liquidity book requires deposited reserves to meet a bin's composition. As such, amounts deposited when the active bin is outside of `bin 8388608` may result in some slippage. ## Strategy Two (Proportional price, rebalancing) Coming Soon! ### Description Coming soon! ### Applicable Pool Types Related asset pairs which do not trade at a constant value, but trade in close sequence *Example Pools: sAVAX-AVAX* # Active Strategies Coming soon: A curated marketplace of strategies! ## Coming Soon! Liquidity should not be treated as a one-size-fits-all approach. The liquidity Book allows for endless ways to structure liquidity depending on risk tolerance and objectives. SteakHut allows a curated marketplace of liquidity strategies. Strategists can permissionless create and manage liquidity to earn a share of vault performance fees. ## Permissionless Vaults SteakHut Liquidity permissionless vaults allow anyone to create a liquidity vault strategy on-top of the Trader Joe Liquidity Book. Users will be able to view a range of whitelisted strategists and select a strategy. Users can read the philosophy behind the strategies, check past performance and easily stake their tokens into the strategy. Strategists are then able to structure liquidity and call a rebalance and reinvest as required to manage the liquidity around their investment philosophy. ## What can strategists earn? For actively managed custom strategies the total fee is set between 10-20% as chosen by the strategist. This fee is then divided among the following: > SteakHut protocol fee = 77% of fee > > Strategist = 12% of fee > > Caller = 11% of fee # Liquidity as a service A middleware to building and integrating with concentrated liquidity! SteakHut’s liquidity vault infrastructure offers a new primitive to create liquidity strategies enabling protocols to reach their liquidity goals and allowing for easy integration of concentrated liquidity positions. ## Partnering with protocol across Web3 SteakHut is partnering with protocols across Web3 to help provide tailored concentrated liquidity management strategies and infrastructure to DAOs and other projects looking to integrate concentrated liquidity. SteakHut can offer those organizations non-custodial, automated, and active concentrated liquidity management services tailored to meet their liquidity goals. * Concentrated POL management * Tailored liquidity vault infrastructure * Concentrated liquidity farms and incentivization * Concentrated liquidity position ERC20 wrappers SteakHut has begun partnering with leading protocols across Web3. ## Liquidity Management SteakHut tailor-makes liquidity strategies to suit your protocol needs. We are helping protocols manage POL to improve capital efficiency, increase liquidity, and reduce the need for liquidity incentives. We automate concentrated liquidity allowing protocols to focus less on liquidity management and focus more on building. Private vaults can also be created for protocols or institutions and it is also possible to easily integrate a liquidity vault into the protocols dApp. ## Liquidity Mining (Concentrated liquidity farming) SteakHut Liquidity allows token pairs to incentivize deep liquidity on Trader Joe's DEX V2 with concentrated liquidity farming. Liquidity mining on non-concentrated liquidity was relatively simple. A user deposited liquidity on an exchange and then deposited the LP tokens in a staking contract to receive rewards. However, with the implementation of concentrated liquidity, a liquidity mining program is no longer an easy task for a project to implement. SteakHut Liquidity vault receipt tokens act as an ERC-20 wrapper on concentrated liquidity positions, allowing for the easy implementation of incentivized concentrated liquidity. ## Partner with SteakHut **If you are a protocol looking to work with SteakHut Liquidity feel to complete the below form or reach out to us on** [**Twitter** ](https://twitter.com/steakhut_fi)**or Telegram @steakhut** {% embed url="" %} ## Permissionless vault creation and management (Coming Soon) SteakHut Liquidity vaults are permissionless to create using the vault factory. SteakHut makes optimizing and automating concentrated DEX liquidity simple. Protocols can deploy vaults and either choose to manually or automatically manage the liquidity position to suit their needs. The vault receipt token acts as an ERC20 wrapper allowing for endless strategies to be built and deployed on DEX V2 liquidity positions. #### The capabilities of these vaults are the following: * ERC20 wrapper for Trader Joe V2 (Liquidity Book) LP Positions * Allow deploying of vaults with a desired bin range on any Trader Joe V2 pair * Allow for manager role to control the LP range * Allow for manager role to re-range the partial position or total position * Allow for liquidity mining rewards to be distributed to depositors * Fully non-custodial * Fully Fungible ## Use Cases SteakHut Liquidity vaults allow the creation of ERC-20 LP tokens automatically exposed to an LP position in the underlying automated strategy. This design allows for a new primitive for building on top of Trader Joe's Liquidity Book that removes the complexities of liquidity management. Permissionless vaults make possible innovations that we have seen on top of the original V1 Trader Joe AMM such as liquidity mining, POL, and LP tokens as collateral. Moreover, SteakHut opens the door for a new area of decentralized market-making with the potential for tokenized products like: * Liquidity as a service * Auto-Hedged delta neutral LP positions * LP positions coupled with lending/borrowing or options markets * Automated POL * Deep liquidity with low-or-no incentives * Liquidity mining ``` ``` # Structuring Liquidity The Liquidity Book offers endless ways to structure and manage your liquidity. Unlike DEX V1, where supplying liquidity was available as a passive yield farming technique, you can now deploy active liquidity provisions managing various strategies to suit your investment goals. ## **Balanced (normal, gaussian)**

Normal Liquidity Distibution

In a balanced distribution, capital is concentrated around the active trading range and tapered towards the end of the price range in a bell curve or Gaussian distribution. Having liquidity concentrated around the active bins allows users to capture higher trading fees. The more distributed model allows the strategy to capture a larger price range with less chance of being priced out of the active bin. ## **Concentrated (spot, uniform)**
Concentrating your liquidity tightly around a small price range can be seen as a more aggressive investment approach. Tightly concentrating your liquidity on the active price captures a high share of swap fees, achieving a higher APR, and ensuring all capital is used efficiently. However, as the token price changes, your position may become priced out of the active bin and will no longer receive trading fees. Also, since only the active bin has both assets, a shift in price will result in the LP’s position being 100% comprised of the underperforming asset. ## **Uniform (max, evenly distributed)**
A uniform distribution can be seen as the most risk-averse approach, which emulates a similar model of distribution to the x\*y=k DEX V1 design. Using this option, LPs can distribute their liquidity evenly across a larger price range. Since your position is diversely spread you will be able to capture trading fees without worrying about being priced out of the active bin. However, a larger price range results in inefficient liquidity allocation, meaning a much lower APR on trading fees. ## **Bid-ask (volatile, parabolic)**
A parabolic distribution allows capturing of trading fees at the extreme ends of the price range. These ranges generally have lower levels of liquidity allowing for LPs to potentially capture a higher share of trading fees in less active bins. During highly volatile times, this strategy could allow the liquidity provider to capture higher APR trades, however, during stable markets the liquidity remains unused. It also behaves in a similar way to ranged orders. It could be used by the LP to average down their allocation or take profit when prices increase. ## **Range orders** Liquidity Book's discretized bins allow for range orders which can act in a similar way to traditional buy/sell conditional orders. It can also allow users to automate dollar-cost-averaging on their selling or accumulating of tokens. ## **Buy range order**
Since only the active bin contains both tokens, the LP could concentrate their liquidity at a lower price to effectively buy the underperforming token at a lower price target. *Example: AVAX-USDC Pool, the LP could deposit USDC concentrated around the $10 price, when the pool trades below this price the USDC is converted into AVAX. The LP can then withdraw liquidity, which contains solely AVAX tokens.* ## **Sell range order**
The LP could concentrate their liquidity at a higher price to effectively sell the overperforming token to take profit. *Example: AVAX-USDC Pool, the LP could deposit AVAX concentrated around the $100 price, when the pool trades above this price, all AVAX is converted into USDC. The LP can then withdraw liquidity, which now contains solely USDC.* ## **Dollar-cost averaging**
Similar to range orders, the LP could deposit a single asset into multiple bins around their price target. This allows the user to buy or sell tokens leading up to their target. In this scenario, the LP earns swap rewards during the strategy and does not incur fees themselves. # Concentrated Reward Farms (Boost) BOOST your V2 Liquidity! ## What are Concentrated Reward Farms? Concentrated Reward Farms allow liquidity providers to earn bonus rewards for providing liquidity. With SteakHut Liquidity it becomes possible to incentivize liquidity providers with reward farms, just like what was possible on Trader Joe's V1 pools. Users stake their SH LB tokens and earn bonus reward tokens. ## Benefits of Yield Farming * Yield Farming can be a lucrative way to earn extra rewards from bonus tokens * Improve your assets capital efficiency by utilizing Idle tokens sitting in your Wallet * Helping to support deep, efficient liquidity to token pairs across Web 3 ## Partnering with protocols across Web3 SteakHut is looking to partner with protocol across Web3 to help create deep concentrated liquidity for their tokens and bring JUICY rewards to liquidity providers. With SteakHut Liquidity, protocols can easily set up rewards to pay out to their farmer. # Risks ## **Counterparty Risk** Liquidity positions are established on Trader Joe V2. This will add a layer of counterparty risk. Trader Joe is a reputable DEX and has undergone vigorous internal and external auditing. ## Divergence Loss (Impermanent Loss) As token prices diverge from their prices at deposit, your liquidity changes in value when compared to its value if tokens were held outside the pool. Large price swings could cause liquidity providers to lose money. The risk of impermanent loss can be amplified with concentrated liquidity. Liquidity pools that contain assets that remain in a relatively small price range will be less exposed to impermanent loss. Stablecoins or pegged assets, for example, will stay in a relatively contained price range. These pools will generate fewer fees, though. Trader Joe's Liquidity Book introduces variable fees that aim to compensate liquidity providers for impermanent loss. Variable fees provide liquidity providers compensation for managing impermanent loss under various trading dynamics.

Fee Adjusted Impermanent Loss/Gain Source: Trader Joe Liquidity Book Whitepaper

## **Price Volatility Risk** When there is significant volatility in the price of one or both assets in a position, the vault may temporarily become separate from the active bin. This will be dependent on the vault rebalancing frequency and the liquidity management strategy. When liquidity is not within the active bin no swap fees will be earned during this time and the yield becomes reduced. {% content-ref url="/pages/cQeFXjS5gIEzdI1ogra3" %} [Security](/steakhut-protocol/security) {% endcontent-ref %} # ve JOE Farms Enjoy BOOSTED Yields! SteakHut employs a number of yield-boosting strategies, to help you get the most out of your tokens! {% hint style="success" %} Enjoy low-cost BOOSTED yields. {% endhint %} ## veJOE boosted Trader Joe Farms ### Strategy Take advantage of SteakHut's veJOE supply with veJOE boosted farms. veJOE allows users to receive an increased allocation of $JOE emissions on their LP farming. Deposit your JLP tokens in SteakHut's veJOE boosted pools to receive higher yields paid in $JOE tokens. ### Fee > 15% performance fee Fees can be adjusted between hard-coded ranges. The fees will be operated on a sliding scale from 3-20% which can be adjusted to ensure SteakHut delivers the best outcomes for users. The fee is only applicable to rewards generated via veJOE boosting. The fee is acquired when rewards are harvested. ***Fee Example:*** ***User stakes:** $1000 in JLP tokens* ***User yields:** 20% (7% from LP, 3% from base rewards, 10% from veJOE rewards)* *Over the course of 1 year, the user accrues $200 in JOE rewards. A 15% performance fee is acquired on the veJOE rewards, meaning the user accrues $30 in fees.* {% hint style="success" %} Earn BOOSTED $JOE rewards {% endhint %} {% hint style="success" %} Harvest rewards in real time {% endhint %} {% hint style="success" %} Ultra-low-cost performance fees {% endhint %} {% content-ref url="/pages/JXdgnGusgztQ5ix99hHw" %} [Understanding veJOE](/getting-started/ve-joe-farms/vejoe-boosted-farms/understanding-vejoe) {% endcontent-ref %} # veJOE Boosted Farms Unlock the highest Trader Joe rewards SteakHut allows Trader Joe farmers to earn significantly boosted yields on their Trader Joe farming, with our veJOE boosted farms. veJOE is a Trader Joe staking method that allows users to unlock higher rewards on their liquidity pool farming. The share of veJOE that a user owns, is what increases the user's farming rewards. The SteakHut Herd holds a large amount of veJOE, which is permanently blackholed. This allows the SteakHut protocol to provide large boosted yields for the SteakHut Herd. With SteakHut users can receive veJOE boosted yields without having to stake their JOE and worry about accruing veJOE! ## How to stake your JLP Tokens **On the SteakHut Dashboard Navigate to our Herd Boosted LPs** ![](/files/IcfyLT6SpQ9icvpDX1RK) 1. Select your desired pool from our large range of boosted pools 2. Expand the section using the blue arrow (top right corner) 3. Enter the quantity of JOE LP (JLP) tokens you would like to add to our boosted pools, then hit "stake". If you have no LP tokens you can create them using our [LP Zapper.](/basics/depositing-your-jlp-tokens/creating-lp-tokens-on-steakhut) 4. Welcome to the Herd! Sit back and enjoy your boosted returns! ![](/files/19IsbkQwDtamOL55WwFY) *Note: If it is your first time using the platform, you may have to approve your JLP* *tokens for use with the contract by pressing the "Approve" button when prompted. After that transaction has been confirmed.* ## What are Trader Joe Farms? With Trader Joe you can stake your LP tokens into farms to earn extra yield. Through yield farming not only will you continue to earn trading fees from the liquidity pool, but you can also earn extra rewards. SteakHut allows you to receive extra yield on veJOE boosted farms. {% embed url="" %} ## veJOE Farm Fees **Performance Fee:** 15% The SteakHut protocol acquires a small performance fee from Boosted Liquidity Pools. Any JOE returns generated through SteakHut's boosted pools will be subject to the performance fee. {% hint style="info" %} #### SteakHut's fees will operate on a sliding scale between 3-20% to ensure the best outcomes for the entire community! {% endhint %} Fees can be adjusted between hard-coded ranges. The fees will be operated on a sliding scale from 3-20%. The performance fee will be utilized as follows: * Distributed to $STEAK-Holders (50%) * Distributed to JOE zappers to incentivize zapping (50%) initially Zappers will be incentivized with $STEAK emissions. The 50/50 split is subject to change as the protocol matures. Any special bonus tokens or assets acquired by the SteakHut protocol will be held by the community treasury and belong to STEAK-Holders (or deployed in marketing activities to boost the community). ***Fee example:*** ***User stakes:** $1000 in JLP tokens* ***User yields:** 20% (7% from LP, 3% from base rewards, 10% from veJOE rewards)* *Over the course of 1 year, the user accrues $200 in rewards. A 6% performance fee is acquired on the veJOE rewards, meaning the user accrues $6 in fees.* ## Harvesting your rewards Rewards on our veJOE boosted farms are accrued in real*-*time. You can harvest your rewards whenever you like by clicking harvest on the dApp. # 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. {% hint style="success" %} veJOE allows users to gain higher JOE farming yields from select boosted farms {% endhint %} 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** {% hint style="success" %} Stake JOE into veJOE to earn boosted JOE rewards from select farms {% endhint %} 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:** * [x] Higher Farming yields for LP Token Depositors * [x] Zappers are rewarded with Airdrops and revenue shares ## 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. {% hint style="success" %} SteakHut will not only deliver higher returns but also acquire governance through veJOE {% endhint %} 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. {% hint style="info" %} When JOE tokens are Zapped with the Herd, we put your tokens to work! 🚜 {% endhint %} 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. {% embed url="" %} ## *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.
UserveJOELP TokensMultiplierWeighted LPAdj. Pool ShareJOE per Sec
Alice1001,0002.52,5000.50.5
Bob02,50012,5000.50.5
Total1003,5005,00011
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. {% hint style="info" %} With SteakHut you can receive a much higher boosted multiplier than if farming alone {% endhint %} | User | veJOE | LP Tokens | Farm Factor | Base Rewards | veJOE Rewards | JOE per Sec | | -------- | ----- | --------- | ----------- | ------------ | ------------- | ----------- | | 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. # Auto-compounding Vaults Unlock the DeFi flywheel, and compound your rewards! SteakHut brings low-cost accessible DeFi strategies to Avalanche with our range of auto-compounders. Our vaults automatically convert your rewards back into the underlying staked token, and reinvest it into the pool allowing you to sit back and enjoy compounded yields! ## Auto-compounding Vault Fees **Performance Fee:** 4% SteakHut’s ultra-low-cost auto-compounders have a small performance fee of only 4%. This is calculated only on the reward amount for each compound. The transaction costs associated with auto-compounding are also socialized among all users, further reducing any fees. **Performance Fee breakdown:** * **4%** Accrued by SteakHut treasury *Fee example: a user with $1,000 staked into the strategy earning 10% in rewards would only realize 4% fees paid on the $100 in rewards ($4). This is automatically realized during each compounding period.* ## sJOE Auto-compounding Farm ### Strategy The sJOE auto-compounding farm using Trader Joe's sJOE staking to auto-compound your $JOE. When users stake their $JOE, our smart contracts deposit your $JOE into Trader Joe's sJOE staking, all rewards are then converted back into $JOE and re-invested. ### Fee > 2.5% performance fee > > Variable deposit fee (Dictated by Trader Joe) The 2.5% performance fee is accrued on the reward balance each time the farm is compounded. Trader Joe's sJOE staking also has a deposit fee ranging from 0-3%. ***Fee Example:*** ***User stakes:** $1000 in $JOE tokens* ***User yields:** 20%* *Over the course of 1 year, the user accrues $200 in rewards. A 2.5% performance fee is acquired on the rewards each compounding period, meaning the user accrues $5 in rewards. When depositing a fee may also be acquired by Trader Joe ranging from 0-3%.* {% hint style="success" %} Automate your sJOE staking {% endhint %} {% hint style="success" %} Rewards are re-invested for you {% endhint %} {% hint style="success" %} Ultra-low-cost performance fees {% endhint %} {% content-ref url="/pages/P7Q4p5WToZcLGE8V1KsQ" %} [sJOE Compounder](/getting-started/auto-compounding-vaults/sjoe-compounder) {% endcontent-ref %} # sJOE Compounder Put your $JOE on autopilot SteakHut has built the ultimate ultra-low cost sJOE auto-compounding pool. SteakHut’s sJOE pool stakes your $JOE into Trader Joe’s sJOE staking, and then automatically converts your rewards back into $JOE and reinvests it into the pool! This means with SteakHut’s sJOE pool not only do we take all the work out of your staking, but we also allow you to unleash the full effects of the sJOE flywheel and auto-compounding. ## How to stake your $JOE Head over to the SteakHut dApp and find our sJOE farm. On the sJOE card, you can display all your important information: **TVL:** The total number of $JOE tokens deposited into the strategy. **My Stake:** The number of $JOE tokens you have deposited. **APY:** Annual Percentage Yield, is the normalized representation of an interest rate, based on a compounding period over one year.
You can then stake your $JOE into the pool by entering the number of tokens to stake or selecting max to stake all your $JOE tokens. You may be prompted to ‘Approve’ the contract first. ## What is an auto-compounder? The sJOE strategy is a very simple farm that allows you to grow your $JOE balance, and eliminates all the work!
**What you do:** Stake your $JOE **What our smart contracts do:** 1. Your $JOE is deposited into Trader Joe's sJOE staking. sJOE staking may have a deposit fee charged by Trader Joe (0-3%) you may notice this from your $JOE deposit. 2. sJOE staking rewards USDC paid on your $JOE every few days, once rewards are high enough to pay out. 3. Our smart contracts convert your USDC back into $JOE tokens and redeposit them into the strategy for you. 4. Your $JOE balance automatically grows over time, no need to harvest, our smart contracts do all the work. You can unstake all your $JOE at any time without penalty. ## sJOE Farm Fees **Performance Fee:** 2.5% **Deposit Fee:** 0-3% (Dictated and charged by Trader Joe) SteakHut’s ultra-low-cost sJOE auto-compounder has a small performance fee of only 2.5%. This is calculated only on the reward amount for each compound. The transaction costs associated with auto-compounding are also socialized among all users, further reducing any fees. **Performance Fee breakdown:** * **2.2225%** Accrued by SteakHut treasury * **0.2775%** Paid to the user to compound *Fee example: a user with $1,000 staked into the strategy earning 30% in rewards would only realize 2.5% fees paid on the $300 in rewards ($7.5). This is automatically realized during each compounding period.* ## The Compound Button From time to time you may notice The Compound Button on our auto-compounding pool. The button takes all pending rewards from a farm, converts them into the required asset, and reinvests them back into the farm, compounding everyone's rewards. You don't need to push the button, but if you do you can receive a small portion of rewards and the pride of helping everyone enjoy boosted yields. {% embed url="" %} # Developer Docs The SteakHut Finance Liquidity Book Developer Docs {% hint style="warning" %} SteakHut Liquidity is currently undergoing external smart contract auditing by Paladin Blockchain Security, Developer Docs are subject to change {% endhint %} The GitHub repository for the latest version of the contracts can be found at the below links: {% embed url="" %} SteakHut Liquidity GitHub Repo {% endembed %} The GitHub repo will explain how to get your environment set up. At launch, there are three base contracts. The main contract developers / integrating protocols will be interested in is the LBStrategy.sol contract. In the Strategy, there is a role called "keeper". The Keeper role allows some privileged functions to be called; mainly setting bin parameters and calling a rebalance. Exposing this endpoint allows for some complex strategies to be executed on top of SteakHut Liquidity. **Core Contracts:** SteakHut Liquidity has at present three main contracts: * The [LBVault](https://github.com/0xSirloin/steakhut-lb/blob/master/src/LBVault.sol) is the contract that manages the entry and exit point of funds into the strategy. It mints a receipt token in proportion to the total amount of liquidity already managed by the vault for the given strategy. * The [LBVaultNative](https://github.com/0xSirloin/steakhut-lb/blob/master/src/LBVaultNative.sol) contains wrappers around the deposit and withdrawal of Native AVAX into the system. It is essentially the same as the LBVault contract however with a few modifications. *Strategies do not need to handle Native AVAX as the Vault handles the conversion of AVAX -> WAVAX and deposits into the strategy.* * The [LBStrategy](https://github.com/0xSirloin/steakhut-lb/blob/master/src/LBStrategy.sol) contains the logic required to add and remove liquidity from the TraderJoe DexV2 pools. It handles the harvesting of fees and the re-balancing of tokens as required. A "keeper" may be assigned which will allow independent access to some strategy features (mainly the re-balancing). # LBVault (Incl. Native) LBVault is the keeper of the funds; It is the only entry and exit point into the strategy. LBVault.sol - Exists to facilitate non-AVAX pairs; LBVaultNative.sol is for any AVAX pair. When integrating this is an important note to make. The Vaults are our automated liquidity vaults, keeping the mission in mind of optimising DEX liquidity the focus is on easily allowing managers to deploy strategies and LPers to deploy capital into these vaults. The capabilities of these vaults are the following: * ERC20 wrapper for Trader Joe Dex V2 LP Positions * Allow for the keeper role to control the LP range *(through the strategy)* * Allow for the keeper role to re-range the total position *(through the strategy)* * Fully Fungible **Owner Role:** The Owner of the LBVault contracts should be set to the SteakHut multisig address for any potential whitelisting to occur. *(SteakHut MultiSig 3/4 - 0xD316d2AA04d71Fd1E332437b0Cb5d261FD2F99AE).* This should only be completed after all setup occurs. ### Tracking of Positions When liquidity is added to the vault, SteakHut LB vault tokens are minted and credited to the provider. Inversely, SteakHut LB tokens can be burned to redeem that proportion of the pool's V2 position liquidity and fees earned. SteakHut LB tokens represent proportional ownership (or "shares") of the underlying JOE Dex V2 position. ### Deposit Funds into the System Depositing funds into the system is called using the below function. (Native AVAX version is also available under the depositAVAXPair() function, the user must pass the correct msg.value to correspond with the amounts otherwise tx will revert) AmountX and AmountY are the amounts of funds that the user is willing to deposit into the system whilst amountXMin and AmountYMin are the minimum amount of tokens that the user is happy to receive due to the conversion ratio). It is important to note that when depositing funds are not automatically put to work in the strategy. Only a 'keeper' may call the earn() function in order to put the funds to work. However, only if the current bin range and strategy parameters are maintained. 
    /// @notice primary entrypoint of funds into the system. users deposit with this function
    /// into the vault. The vault is then in charge of sending funds into the strategy.
    /// funds stay idle in the strategy until earn() is called and valid parameters
    /// @notice Deposits tokens in proportion to the vault's current holdings.
    /// @param amountX amount of tokenX to deposit
    /// @param amountY amount of tokenY to deposit
    /// @param amountXMin miniumum amount of tokenX to deposit due to ratio
    /// @param amountYMin miniumum amount of tokenY to deposit due to ratio
    /// @return shares minted to the depositor
    /// @return amountXActual amount token X accepted as deposit
    /// @return amountYActual amount token Y accepted as deposit
    function deposit(
        uint256 amountX,
        uint256 amountY,
        uint256 amountXMin,
        uint256 amountYMin
    )
        public
        nonReentrant
        returns (uint256 shares, uint256 amountXActual, uint256 amountYActual)
### Withdraw Funds from the System To remove funds from the system withdraw shall be called. The input argument will be the number of shares that the user wishes to be removed from the system. This will return the underlying tokens in the same ratio as currently used in the strategy. It is important to note that this won't necessarily be the same ratio that was placed into the vault due to the underlying changes in the live liquidity. Should a user wish to withdraw all of the shares, there is a helper function also available under withdrawAll(). ``` /// @notice primary exit point of funds from the system. users withdraw using this function. /// @param _shares amount of shares to withdraw from the system /// @return amountX the amount of token X removed /// @return amountY the amount of token Y removed function withdraw( uint256 _shares ) public nonReentrant returns (uint256 amountX, uint256 amountY) { ``` # LBStrategy ## Manager Functions Strategies created with a `keeper` account can configure a number of key parameters within the strategy. The `keeper` and `owner` are the key trusted entities within the Strategy. In order to be Whitelisted the Owner should be set to the SteakHut Master MultiSig Address. Whilst the keeper role may be maintained by a manager. The keeper may control and alter the underlying TraderJoe Dex V2 position. Users should always review who holds the keeper role and perform due diligence on this role holder. (SteakHut will vet these keepers before whitelisting) One should only put funds into "managed" vaults if they have some information about the manager account: the manager could be fully controlled by a DAO (token voting), or could simply be a project's multi-sig, or be locked in a smart contract that automates rebalances under a certain codified strategy, or be trusted by the user for some other reason. ***More on this is coming very soon!*** # Strategist Role ### Strategist Parameters Strategists are provided with the 'keeper' role. This role comes with some special management permissions for the Strategy. The key parameters that a Strategist will be able to manage are outlined below: 
    //Key Parameters that a 'Strategist / Keeper' will be able to change 
    int256[] deltaIds; // The bins you want to add liquidity to. Each value is relative to the active bin ID
    uint256[] distributionX; // The percentage of X you want to add to each bin in deltaIds
    uint256[] distributionY; // The percentage of Y you want to add to each bin in deltaIds
    uint256 idSlippage; // The slippage tolerance in case active bin moves during time it takes to transact
For more information on the above parameters see link from TraderJoe docs: ### Execute Rebalance By far the most important manager function is the `executeRebalance` method on the SteakHutLBStrategy.sol. This permissioned method is the only way to change the bin range of the underlying TraderJoe V2 liquidity position. Manager accounts who control this function are the means by which custom rebalancing strategies can be built on top of SteakHut Liquidity. These strategies can be implemented by governance (slow, but decentralized) or by some central managerial party (more responsive but requiring much more trust). In order to execute a rebalance the above parameters must be provided to the strategy and the executeRebalance function called. 
    /// -----------------------------------------------------------
    /// Rebalance function
    /// -----------------------------------------------------------

    /// @notice point of call to execute a rebalance of the strategy
    /// @param _deltaIds the distibution of liquidity around the active bin
    /// @param _distributionX the distibution of tokenX liquidity around the active bin
    /// @param _distributionY the distibution of tokenY liquidity around the active bin
    /// @param _idSlippage slippage of bins acceptable
    /// @return amountX total amountX supplied after the rebalance
    /// @return amountY total amountY supplied after the rebalance
    function executeRebalance(
        int256[] memory _deltaIds,
        uint256[] memory _distributionX,
        uint256[] memory _distributionY,
        uint256 _idSlippage
    ) external onlyManager returns (uint256 amountX, uint256 amountY)
The executeRebalance() function handles the below automatically: 1. Harvest any pending rewards from the TJ LB contracts 2. Removes liquidity from current bins where liquidity exists 3. Sets the new parameters 4. Swaps the required amounts of tokens to provide liquidity 5. Adds the amounts to a new liquidity bin range ### Harvesting Whilst anyone is able to perform a harvest it should be noted that a strategist is also able to perform this function. A harvest does not automatically reinvest funds. In order to place the funds to work the 'keeper' is required to call the earn() function. Funds that have been harvested remain idle in the strategy contract until put to work by the 'keeper'. ```solidity /// @notice harvest the rewards from the strategy using tx origin /// @return amountXReceived amount of tokenX received from harvest /// @return amountYReceived amount of tokenY received from harvest function harvest() external virtual returns (uint256 amountXReceived, uint256 amountYReceived) { (amountXReceived, amountYReceived) = _harvest(tx.origin); } /// @notice harvest the rewards from the strategy using custom fee receiver /// @param callFeeRecipient the address to be compensated for gas /// @return amountXReceived amount of tokenX received from harvest /// @return amountYReceived amount of tokenY received from harvest function harvest( address callFeeRecipient ) external virtual returns (uint256 amountXReceived, uint256 amountYReceived) { (amountXReceived, amountYReceived) = _harvest(callFeeRecipient); } ``` The key differentiation between the two functions here is that a 'keeper' may chose to send the gas reimbursement to another wallet. If this is the case, pass an address into the function. ### Earn (Placing Funds to Work) The earn function is key in managing a strategy. Only a 'manager' is able to call this function. Essentially it places the idle funds in the Strategy contract to work in a Trader Joe Dex V2 liquidity pool. Typically a keeper will call the earn function when the active bin in the underlying TJ pool meets particular conditions. Sample Manager contracts can be found in the Githhub Repo. An earn() does not need to be called when performing an rebalance, as the rebalance function handles this logic. ```solidity /// @notice puts any available tokenX or tokenY to work /// @return amountX amount of token X added as liquidity /// @return amountY amount of token Y added as liquidity function earn() external onlyManager returns (uint256 amountX, uint256 amountY) { uint256 balanceX = tokenX.balanceOf(address(this)); uint256 balanceY = tokenY.balanceOf(address(this)); //gas saving check if there is idle funds in the contract require( balanceX > 1e3 || balanceY > 1e3, "Vault: Insufficient idle funds in strategy" ); //require the amounts to be deposited into the correct bin distributions (amountX, amountY) = _calculateAmountsPerformSwap( deltaIds, balanceX, balanceY ); //use the funds in the strategy to add liquidty. if (amountX > 0 || amountY > 0) { _addLiquidity(amountX, amountY, 0, 0); } } ``` ### Advanced Usage The 'keeper' role may be assigned to a third-party smart contract to manage the strategy. This allows potentially unlimited possibilities when it comes to building a strategy. The 'keeper' role may be set to a potential [Chainlink keepers](https://docs.chain.link/chainlink-automation/introduction/) contract which will allow for some very advanced strategies to be constructed on top of SteakHut Liquidity. **We are excited about the unlimited possibilities that this will allow.** # Deployed Liquidity Contracts A Full List of Official and Whitelisted Vault/Strategy Pairs are listed below: It is important to note that not all strategies are managed directly by SteakHut. Some of these may be directly managed by a whitelisted partner. ### SteakHut Managed Contracts
PairVaultStrategy
USDT.e/USDt (Concentrated)0x9f44e67ba256c18411bb041375e572e3dd11fa720x84484b8f6e3a1a9f2674c05be914667dea88a4bc
USDT.e/USDt (Balanced)0x07462883abb2350e5243b94aeb27f4d37e3238e80x146683ed515f789190ff110c6e305be3d3194a8f
USDt/USDC
(Concentrated)		0xc4bbd4ba96eaf7ccb3d0f2e0819b1f6e5c900b160x459aa37fc58686e1cb868a60da40756fecc3c5c5
USDt/USDC
(Balanced)		0xb41506675a0977a34e8cec7da8c061d6753b5b030xde951b7c726c7a71fd9fbaf1d36ee4ec9489932e
USDC.e/USDC
(Concentrated)		0x37e0f0513ae3d3c4403e7b11c8a15b06c7cb14120x61921dc906d1576b76e491a7d066c150a108265b
USDC.e/USDC
(Balanced)		0x3b27aee8df3a3791eb57b59a770a530a93dc02210x862f459c3c1f8949b3f5b624d39134d61697946e
### Whitelisted Partners Contracts None exist at the present; However, if you are interested in becoming a partner and having your strategy whitelisted on the platform, please get in touch # Integrating SteakHut Liquidity ### Receipt Token: SteakHut Liquidity pools automatically issue an ERC20 receipt token which represents the users underlying position. The receipt token may be used to review the underlying shares in the vault and also hence the underlying tokens that a user may withdraw at any time. ### Underlying Assets In the Vault contracts there exists a function named getUnderlyingAssets(). If you pass in the amount of shares that a user holds the function will output the amount of tokenX and tokenY which is redeemable with that proportion of shares. This returns all of the underlying assets including both the assets currently at work in the Liquidity Book and those assets which are sitting idle (waiting to be put to work) in the Strategy Contract. ```solidity /// @notice Gets the underlying assets in the vault i.e tokenX and tokenY /// includes all tokenX and tokenY idle in the strategy and supplied as liquidity /// @param _shares amount of shares /// @return totalX amounts of tokenX /// @return totalY amounts of tokenY function getUnderlyingAssets( uint256 _shares ) external view returns (uint256 totalX, uint256 totalY) { uint256 _totalSupply = totalSupply(); if (_totalSupply == 0) { return (0, 0); } //add currently active tokens supplied as liquidity (totalX, totalY) = LiquidityAmounts.getAmountsOf( address(strategy), strategy.strategyActiveBins(), address(strategy.lbPair()) ); //add currently unused tokens in the strategy totalX += strategy.getBalanceX(); totalY += strategy.getBalanceY(); totalX = (totalX * _shares) / _totalSupply; totalY = (totalY * _shares) / _totalSupply; } ``` ### Questions Regarding Integrations If you need any assistance in integrating with SteakHut Liquidity, feel free to reach out at anytime on any of our social links and a member of our development team will be in touch. # Subgraph Public subgraphs deployed at the below addresses:
SubgraphURL
SteakHut Liquidityhttps://api.thegraph.com/subgraphs/name/0xsirloin/steakhutlb
# More Coming Soon {% hint style="warning" %} SteakHut Liquidity is currently undergoing external smart contract auditing by Paladin Blockchain Security, Developer Docs are subject to change {% endhint %} # Depositing tokens into SteakHut liquidity Automate and optimize your liquidity! ## **1) Head over to SteakHut's Liquidity pools and connect your wallet** Head on over to SteakHut's dApp at: {% embed url="" %} Select the "Connect" button in the top right corner, and approve your wallet to connect with SteakHut. ## 2) Select a pool to provide liquidity On SteakHut Liquidity you can browse through pools, search for the tokens of your choosing, or order the pool options based on liquidity, APR, and rewards. SteakHut Liquidity supports all V2 Trader Joe pools.
*You can filter pools by name, liquidity, strategy, my liquidity, or APR. Or you can search for a pool by typing in a token pair.* *Alternatively "My Pools" allows you to filter the liquidity pools by pools you are already deposited in.* ## 3) Select a strategy After choosing a pool to provide liquidity you can then choose an automated strategy to suit your needs. **Balanced:** Capital is deployed in a bell graph (gaussian). This provides liquidity across a larger price range. During volatile markets, this strategy tends to outperform a concentrated strategy. **Concentrated:** A concentrated liquidity structure offers a tighter concentration around the active price bin. This strategy can be seen as a more aggressive approach. During steady markets, this strategy tends to outperform a balanced strategy. For more information on strategies, you can review [structuring liquidity.](/getting-started/liquidity/structuring-liquidity) ## 4) Enter the amount of each token to deposit Liquidity pool deposits are dual-sided, which means users can deposit their tokens directly into the strategy in proportion to the assets in the vault.
*In this screenshot, we see the WAVAX-USDC liquidity pool. When you type in the amount of either WAVAX or USDC to deposit, the UI will calculate how much of the other token you need to deposit to maintain the vault ratio.* ## 5) Approve the contracts and deposit If this is your first time using the SteakHut Liquidity vault your wallet will prompt you to approve the deposit of each of the tokens into the strategy.

Approve both tokens with your wallet

### LP Tokens When providing liquidity into SteakHut Liquidity pools, users receive an ERC-20 vault receipt token. This represents your share of the vault strategy.
*The Information tab allows you to add your LB Receipt Token to your wallet, and also view important fee information.* # STEAKING Applications Start getting the most out of your $STEAK ## 1) Head over to SteakHut's STEAKING tab and connect your wallet Head on over to SteakHut's dApp at: {% embed url="" %} Select the "Connect" button in the top right corner, and approve your wallet to connect with SteakHut. ## 2) Convert STEAK to xSTEAK xSTEAK allows you to access the STEAKING plugins such as the rewards application. Converting STEAK > xSTEAK is instant. Converting xSTEAK > STEAK is complete with vesting.
## 3) Select an xSTEAK Plugin Application After converting STEAK to xSTEAK, xSTEAK can be used to interact with the Steaking Applications. The rewards plugin allows users to earn real-yield rewards. Add xSTEAK to allocate your xSTEAK to the plugin and begin earning rewards. Rewards are earned in real-time and can be harvested at any time.
> **Current ($):** This shows the current USD valuation of the rewards to be distributed over the 7-day epoch period. > > **Current APR (%):** Demonstrates the calculated yield, proportional to the amount of total xSTEAK allocated and the Current USD valuation. > > **Total xSTEAK:** This shows the amount of xSTEAK tokens currently allocated to the rewards plugin. > > **Deallocation Fee:** The deallocation fee is the fee taken when deallocating xSTEAK from the rewards plugin. > > **Distributed Tokens:** This shows the amount and type of tokens rewarded during this epoch period. ## Deallocating xSTEAK from the plugin application xSTEAK can be deallocated from the rewards plugin at any time. A deallocation fee of 0.5% is applicable unless the user holds a STEAK.jpeg NFT in their wallet. Deallocating is instant.
## Converting xSTEAK to STEAK xSTEAK is escrowed STEAK that can be redeemed by vesting. The user can select the vesting duration when converting xSTEAK to STEAK. The conversion ratio increases proportionally with the vesting duration: * The minimum vesting duration of 10 days will provide a 1:0.5 ratio * The maximum vesting duration of 45 days will provide a 1:1 ratio The user can view the progress of their xSTEAK redemption, this breaks down the amount of $STEAK to be received as well as the remaining time for unlocking.
While redeeming the user will receive partial rewards from the rewards application. # Bridging $STEAK An omnichain future! ## **1) Head over to SteakHut and connect your wallet** Head on over to SteakHut's dApp at: {% embed url="" %} Select the "Connect" button in the top right corner, and approve your wallet to connect with SteakHut. ## 2) Select Bridge On SteakHut you can bridge your $STEAK cross-chain with ease. Simply connect to the network you would like to bridge from (in this example we are bridging from Arbitrum One). * Approve the contract with your connected wallet * Enter the amount of $STEAK you would like to bridge and select "Bridge"
# Depositing your JLP Tokens Start getting boosted returns! **On the SteakHut Dashboard Navigate to our Herd Boosted LPs** ![](/files/IcfyLT6SpQ9icvpDX1RK) 1. Select your desired pool from our large range of boosted pools 2. Expand the section using the blue arrow (top right corner) 3. Enter the quantity of JOE LP (JLP) tokens you would like to add to our boosted pools, then hit "stake". If you have no LP tokens you can create them using our [LP Zapper.](/basics/depositing-your-jlp-tokens/creating-lp-tokens-on-steakhut) 4. Welcome to the Herd! Sit back and enjoy your boosted returns! ![](/files/19IsbkQwDtamOL55WwFY) *Note: If it is your first time using the platform, you may have to approve your JLP* *tokens for use with the contract by pressing the "Approve" button when prompted. After that transaction has been confirmed.* ### LP Portfolio Tools #### Our cards show a lot of important information including: **· TVL (Total Value Locked):** This is the total value in USD of all LP tokens currently enjoying our boosted yields. **· APR:** APR demonstrates the estimated annual yields on the selected pool. This is calculated in real time and will fluctuate depending on a number of factors including the underlying pool trading volumes, our boost amounts and TVL across the pools. ***By clicking on APR, you can see a full breakdown of yields:*** ***· BASE APR:** This is the base reward paid by the farm. This is paid in JOE tokens, it accrues in real-time and is collectable when you select harvest.* ***· BOOSTED APR:** This is the boosted rewards paid which SteakHut offers through our large veJOE balance. This is paid in JOE tokens. It also accrues in real***-***time and is collectable when you select harvest.* ***· LP:** The LP is the APR on the underlying liquidity pool, this is created from trading fees when investors use the liquidity pools and are distributed to liquidity providers.* **By clicking on Pool Info, you can see some more helpful stats:** ![](/files/09pwhH13XUVznjgIAQn6) # Redeeming Rewards Bringing home the bacon! Once a reward is ready to redeem the **'Harvest'** button will become enabled on the UI. ![](/files/WibqTOI1bQXqhU2AXiNW) You can harvest your rewards at any time by clicking harvest and approving with your wallet. Rewards are mirrored from what the SteakHut protocol receives from boosted Trader Joe pools with APR re-calculating each time rewards are redeemed. {% hint style="info" %} **Rewards are paid out in JOE tokens!** {% endhint %} Staking and unstaking also redeems your rewards and protocol rewards for the underlying SteakHut Voter Contract. This means every time you stake further JLP tokens your rewards will be automatically harvested and sent to your wallet address. Rewards can be redeemed after each transaction occurs through the protocol. Hence, if you have just staked you will either need to wait until someone else stakes or unstakes for your rewards to calculate. This has been done so we can bring you your rewards faster than other protocols! {% hint style="info" %} You will receive the full rewards minus any protocol fees each time a reward is paid {% endhint %} {% hint style="info" %} Our APRs are displayed net of fees, meaning what you see is what you get! {% endhint %} # Creating LP Tokens on SteakHut All the tools you need in the one place! SteakHut’s LP Zapping feature makes it easy to create LP tokens. Directly from the dApp you can convert supported tokens into JLP tokens to then stake in the Herd Boosted Pools. ### Step One: Select LP Zapper under "Boosted LPs" ![](/files/8Cf2VlvShxZxkOm0fFIi) ### Step 2: Select the type of token you would like to convert and the LP token you would like to receive ![](/files/bv6WadwM40JbqVd2ikLN) ### Step 3: **Enter the number of tokens you would like to convert and select “Approve”** ![](/files/y4UBL2R09eQApFpjpEKw) ### Step 4: **You can now deposit your LP tokens into SteakHut's Herd Boosted Pools to receive boosted yields.** ![](/files/gE2CfnOQO5pkFDUfziQo) # Zapping JOE and Staking hJOE Put your JOE to work with SteakHut! **On the SteakHut Dashboard Navigate to the Zap Joe section** ![](/files/9dIoeRFUAAeayJobRIcw) 1. Enter the amount of JOE tokens you would like to convert to hJOE 2. Hit Approve JOE and approve with your wallet when prompted 3. Hit Zap JOE and approve the transaction with your wallet when prompted {% hint style="success" %} SteakHut also allows you to buy JOE directly from our dApp, making it even easier for you to Zap for hJOE! {% endhint %} *Note: If it is your first time using the platform, you may have to approve your JOE tokens for use with the contract by pressing the "Approve" button when prompted. After that transaction has been confirmed, you can press the "Zap" button to Zap your JOE to hJOE.* ## Staking your hJOE ![](/files/QczHFGDJino4H1kzYYUM) {% hint style="success" %} Staking your hJOE allows you to earn STEAK emissions! {% endhint %} **On the SteakHut Dashboard Navigate to the Zapper section** 1. Under "Stake hJOE" enter the quantity of hJOE tokens you would like to stake and then hit "Stake hJOE". 2. Sit back and enjoy your returns! 3. STEAK emissions are earnt in real-time, allowing you to start harvesting as soon as you like. # Tokens Let's get down to business! **SteakHut operates by bringing three tokens to Web 3; STEAK, xSTEAK, and hJOE** ## STEAK $STEAK is SteakHut's native token. Holders can stake their tokens to earn revenue rewards. {% content-ref url="/pages/gXDAO2I6eX3R1jdzjDtP" %} [Understanding $STEAK](/steak-o-nomics/tokens/understanding-usdsteak) {% endcontent-ref %} ## xSTEAK xSTEAK is a non-transferable escrowed governance token, corresponding to locked STEAK. xSTEAK allows for the ability to allocate it to plugins, allowing for modular staking applications. The operation consists of staking xSTEAK into desired application in exchange for various benefits. {% content-ref url="/pages/POy7xhnoe5QjIaYCpyWh" %} [Understanding xSTEAK](/steak-o-nomics/tokens/understanding-xsteak) {% endcontent-ref %} ## hJOE Herd JOE or hJOE are JOE tokens that have been Zapped with SteakHut. hJOE holders are eligible to receive $STEAK emissions initially followed by profit shares generated by the protocol. {% content-ref url="/pages/1AuJqJBTPWtvVi1ktaLs" %} [Understanding hJOE](/steak-o-nomics/tokens/understanding-hjoe) {% endcontent-ref %} # Understanding $STEAK STEAK?? STEAK-Holders can receive a share in excess rewards with SteakHut's [STEAKING](/getting-started/steaking) rewards application. $STEAK is the native governance token for SteakHut. It has four primary use cases: 1. $STEAK-Holders receive a portion of SteakHut protocol revenues, in the form of staking. 2. $STEAK token holders are able to vote on proposals in direct proportion to their holdings. 3. $STEAK token holders can supply $STEAK-AVAX or $STEAK-ETH LP on Trader Joe to receive compensation for supplying liquidity to the market. 4. Any bonus tokens generated from Trader Joe will be paid as a special bonus to STEAK-holders. ## Obtaining $STEAK Tokens Only 5,000,000 $STEAK tokens will ever be minted to ensure no dilution and create a truly deflationary token. As such there are very limited ways to obtain $STEAK * Users can swap their tokens to $STEAK on the Trader Joe DEX * Users can bridge $STEAK cross-chain through the SteakHut dApp * Users who Zap their JOE into hJOE will receive $STEAK emissions * Through other limited special airdrops and promotional activities # Understanding xSTEAK xSTEAK is escrowed $STEAK, corresponding to locked STEAK ## What is xSTEAK? xSTEAK is a non-transferable escrowed governance token, corresponding to locked STEAK. STEAK can be directly converted to xSTEAK via the SteakHut dApp. xSTEAK allows for the ability to allocate it to applications, allowing for modular staking applications. The operation consists of staking xSTEAK into desired application in exchange for various benefits. * Name: xSTEAK * Chain: Avalanche * Contract: 0x902Aa4cC3b463c84541C9C1DeDF50620C99950B9 ## xSTEAK Conversion: Redeeming STEAK from xSTEAK STEAK and xSTEAK can be converted into each other within the SteakHut dApp. Converting xSTEAK back to STEAK involves a vesting period. ### STEAK to xSTEAK conversion STEAK can be freely converted into xSTEAK at any time. The process is instant, and the ratio is 1:1. ### xSTEAK to STEAK conversion xSTEAK is escrowed STEAK that can be redeemed by vesting. The user can select the vesting duration when converting xSTEAK to STEAK. The conversion ratio increases proportionally with the vesting duration: * The minimum vesting duration of 10 days will provide a 1:0.5 ratio * The maximum vesting duration of 45 days will provide a 1:1 ratio If the selected vesting duration is lower than the maximum (ratio < 1:1), the excess STEAK is returned to the SteakHut treasury. # Understanding hJOE What's a hJOE Ser? JOE Zappers are the backbone of the SteakHut Herd. Through Zapping your JOE tokens with SteakHut you receive hJOE (herd JOE). This helps grow the Herd's JOE stash and allows everyone to enjoy boosted yields. {% hint style="info" %} **JOE Zappers receive hJOE** {% endhint %} {% hint style="info" %} You can stake your hJOE to earn **$STEAK emissions** and **profit shares** {% endhint %} ## What is hJOE? Herd JOE or hJOE is SteakHut’s wrapped JOE tokens that have been Zapped with SteakHut. By staking hJOE, users are eligible to receive $STEAK emissions initially followed by profit shares generated by the protocol. The token is fully backed at least 1:1 by JOE, hJOE can only be redeemed for JOE held in reserve. #### hJOE is tokenized veJOE * If a user deposits **JOE** into SteakHut, that **JOE** is locked forever on the platform as **veJOE**. * A tokenized version of **veJOE**, **hJOE**, is returned to the user at a 1:1 rate. * **hJOE conversion is 1-way.** Liquidity pools may exist that allow users to swap **hJOE** for **JOE** tokens, or it may be burnt on the dApp when reserves exist. ## hJOE Staking Initial JOE Zappers will be eligible to receive $STEAK emissions for their contribution to the SteakHut Herd. $STEAK emissions are utilized to incentivize Zapping and reward our Zappers. hJOE staking allows users to unstake at any time without penalty. {% content-ref url="/pages/Ocu8ZIWSLjcUg3nnmIow" %} [Zapping JOE and Staking hJOE](/basics/zapping-joe-and-staking-hjoe) {% endcontent-ref %} ## Rewarding JOE Zappers with $STEAK Users who convert their JOE tokens into herdJOE (hJOE) tokens will be incentivized with emissions of $STEAK token by staking. This encourages users to initially convert their JOE into hJOE and essentially entitles the initial zappers to own a portion of the protocol. {% hint style="info" %} **Essentially Zap JOE -> receive hJOE** {% endhint %} {% hint style="info" %} By Zapping your JOE tokens with SteakHut. You may be eligible to earn passive income forever by receiving and holding $STEAK tokens! {% endhint %} Investors will also be able to directly buy $STEAK tokens on market after the protocol launch. ## Rewarding JOE Zappers with JOE As the SteakHut protocol matures we will be looking to move away from $STEAK emissions and begin rewarding Zappers with a direct profit share for staking their hJOE. By staking their hJOE, JOE Zappers will be entitled to receive a share of revenues generated by the protocol fees. The profit share will be paid out of revenues generated by the platform's performance fees. The fees will be operated on a sliding scale from 3-20% optimized for the best outcomes for both LP depositors, Zappers, and STEAK-Holders. The performance fee will be utilized as follows: * Distributed to STEAK-Holders (50%) * Distributed to JOE zappers to incentivize zapping (50%) initially Zappers will be incentivized with $STEAK emissions. The 50/50 split is subject to change. ## How to redeem hJOE for JOE? When there is JOE in the reserve hJOE holders are free to redeem their hJOE to JOE at a 1:1 ratio (before the dynamic burn fee). This reserve only fills up when new users deposit and when hJOE profits are allocated to the reserve. Redeeming hJOE can only be done on the [official SteakHut dApp](https://www.steakhut.finance/). Users can burn hJOE for JOE while the reserve lasts. ## hJOE Dynamic Burn Fee **SteakHut’s hJOE redeemer will have a dynamic burn fee that will operate between 0–50%.** The burn fee is reviewed periodically and will be adjusted depending on the market conditions, hJOE redeeming pressures, reserve levels, and remaining competitive with other JOE Wars protocols. The burn fee is paid in $JOE tokens and is held within the hJOE reserve allowing for further liquidity for additional users. {% hint style="info" %} Ensure to check the burn fee and hJOE reserve levels on the dApp before redeeming. {% endhint %} ### Advantages of the Dynamic Burn Fee {% hint style="success" %} Allows further liquidity for additional users {% endhint %} {% hint style="success" %} Ensures that 1 hJOE is backed by >1 JOE token, allowing higher sustainable APRs {% endhint %} {% hint style="success" %} Reduces sell-side pressure when needed {% endhint %} {% hint style="success" %} Allows for more efficient conversions on hJOE to JOE conversions overtime {% endhint %} ## **How does the hJOE reserve work?** The hJOE reserve has been created for the sole purpose of providing liquidity for hJOE holders, making hJOE redeemable for JOE. Capital for the reserve comes from two mechanisms: 1\) When hJOE is minted a portion of 0-100% of the JOE will be allocated to the reserve, with the remaining being staked into SteakHut’s veJOE contract The allocation will operate on a sliding scale to achieve the best outcomes for the platform. That is the proportion could be reduced to increase allocations to veJOE staking, or when more liquidity is needed, up to 100% of Zapped JOE can be allocated to the reserve. 2\) As the protocol matures hJOE token-holders may receive JOE tokens distributed from profit shares instead of STEAK emissions. If needed this JOE may instead be allocated to the hJOE reserve to provide liquidity and allow redeeming. {% embed url="" %} # $STEAK SteakHut’s governance token ($STEAK), has a maximum of only 5,000,000 tokens. There will be no further generation of $STEAK tokens through staking or other means. The finite $STEAK system will ensure there will be no dilution of the governance tokens. STEAK-Holders are can stake their tokens using [STEAKING](/getting-started/steaking) applications to unlock the full utility, such as reward revenue shares. ## Understanding $STEAK STEAK-Holders will receive a share in profits through revenue shares from staking. $STEAK is the native governance token for SteakHut. It has four primary use cases: 1. $STEAK owners receive a portion of SteakHut protocol revenues, from the STEAKING rewards application. 2. $STEAK token holders are able to vote on proposals in direct proportion to their holdings. 3. $STEAK token holders can supply $STEAK-AVAX LP on Trader Joe to receive compensation for supplying liquidity to the market. 4. Any bonus tokens generated from Trader Joe will be paid to STEAK-holders. ## Revenue rewards for STEAK-Holders STEAK-Holders can stake their $STEAK into the rewards STEAKING application to start earning real-yield rewards generated by the SteakHut platform. The profit share will be paid out of revenues generated by the platform's performance fees. {% content-ref url="/pages/gsHFXctWhoxT5z0CksRi" %} [Rewards](/getting-started/steaking/rewards) {% endcontent-ref %} ## Obtaining $STEAK Tokens Only 5,000,000 $STEAK tokens will ever be minted to ensure no dilution. As such there are very limited ways to obtain $STEAK * Users can swap their tokens to $STEAK on the Trader Joe DEX * Users can bridge $STEAK cross-chain through the SteakHut dApp * Users who Zap their JOE into hJOE will receive $STEAK emissions * Through other limited special airdrops and promotional activities ## Omnichain $STEAK SteakHut has integrated with LayerZero to launch $STEAK as an omnichain token. $STEAK will be able to be bridged seamlessly across Avalanche, Arbitrum, and future blockchains with a 1:1 ratio directly on SteakHut with ease. The $STEAK token utilizes an omnichain fungible token (OFT) standard, this allows for simple intuitive bridging of your tokens at a 1:1 ratio without the security risk of ‘wrapping’ tokens. # Token Distribution Who holds the STEAK? ![](/files/4AmqYzboG7Srqv5oxijt) SteakHut has a Total Supply of 5,000,000 $STEAK. No further $STEAK will ever be minted. A large proportion of $STEAK will be vested on launch, and slowly released over time. This will help further reduce any initial dilution. {% hint style="info" %} $STEAK will have a Total Supply of 5,000,000 Tokens {% endhint %} $STEAK-Holders can earn revenue shares by staking their tokens. SteakHut will be conducting an emission schedule of 50% of the token supply or 2,500,000, to Zappers to incentivize Zapping. The emission schedule will follow a logarithmic decay function, rewarding our earliest Zappers and reducing supply over time. **Of the remaining $STEAK supply:** * 20% are reserved for the SteakHut team (locked and vested). * 10% will be available in our [Rocket Joe Launch. ](https://traderjoexyz.com/launch) * 15% will be held in reserve for Zappers and JLP depositors and used as needed. * 5% will be held by the community treasury and will be used for various purposes such as bug bounties, partnerships, marketing, and community engagement. ## Token Release Schedule
AllocationInitial UnlockAllocationVesting
Herd Emissions-50%Emission Schedule
Team Tokens0%20%6mth cliff, 12mth linear vest
Bonus Emissions-*Up to 15%Discretionary
Rocket Joe100% (10%)10%-
Treasury10% (0.5%)5%Discretionary
## Herd Emissions *(2,500,000 Tokens)* **Purpose:** Incentivize early JOE Zapping with SteakHut by rewarding $STEAK emissions To encourage the long-term holding of Zapped Joe tokens, as well as early Zappers, the emission schedule will follow a logarithmic decay emissions schedule. The allocation may also be used to further incentivize other users: JLP depositors, STEAK-Holders, LP providers (hJOE:JOE & $STEAK:AVAX) as required. This will be at the discretion of the SteakHut team to best optimize the protocol. ### *Logarithmic Decay Emission Schedule* In the early stages of the protocol, Zappers will be rewarded with $STEAK. After SteakHut Community Treasury reserves and liquidity is sufficient, Zappers will instead be rewarded with a profit share, through staking. Profit shares will be paid in $JOE. Herd emissions will be operational over a 24-month period, or until hJOE staking is introduced (at the discretion of the SteakHut team). To ensure an appropriate token release schedule a decay emission schedule will be utilized. A model where the emission rate is higher earlier on and slows down over time will Incentivize high yields for our earliest users. {% content-ref url="/pages/6EcL2czJVC0gp0TYdLgs" %} [Emission Schedule](/steak-o-nomics/token-distribution/emission-schedule) {% endcontent-ref %} ## Team Tokens *(1,000,000 Tokens)* **Purpose:** Aligning the interest of the SteakHut development team with the entire SteakHut community **Vesting:** 6 month Cliff, 12 month Linear Vest ## Bonus Emissions *(750,000 Tokens)* ### ZAPPER BONUS RESERVE SteakHut bonus rewards will be deployed discretionarily as incentives based on market conditions. These may be added to further boost emissions as needed. Bonus Emission tokens will be held in reserve over a 24-month period, by the SteakHut Community Treasury. ### JLP Bonus Reserve Bonus tokens may also be used in selected Airdrops and marketing strategies geared towards JLP depositor inflows to the SteakHut protocol. Bonus Emission Tokens may also be used to incentivize other SteakHut LPs including STEAK-AVAX and hJOE-JOE as needed, such as through double reward farms. ## Rocket Joe *(500,000 Tokens)* SteakHut is extremely excited to be using Rocket Joe in order to bootstrap liquidity for our governance token, $STEAK. Rocket Joe allows us to generate liquidity in the form of a STEAK-AVAX liquidity pool. This will allow SteakHut to generate Protocol Owned Liquidity, with 50% of all liquidity raised during the Rocket Joe Launch belonging to SteakHut. The LP tokens that participants receive from the Rocket Joe launch will have no locking period. #### **Key Launch Data** * **Launch Date:** 05/05/2022 * **Liquidity Raised:** 10,353 AVAX {% embed url="" %} ## Treasury *(250,000 Tokens)* **Purpose:** Progressing the SteakHut Protocol **Vesting:** 10% TGE, 12 month Linear Vest 5% will be held by the community treasury and will be used for various purposes such as bug bounties, partnerships, marketing, and community engagement. The use of these tokens will be dictated by the SteakHut team and used in a manner to benefit the entire SteakHut community. # Emission Schedule ## **Updated emissions schedule** In response to a market trend of reducing token emissions, SteakHut has been actively involved by reducing $STEAK emissions to reduce inflationary pressures. As such the original emission schedule has been replaced by a new guide offering emissions until December 2025. The emission schedule is subject to change depending on market conditions and should be treated as a guide only. ## **Emissions as of December 2022** As of December 2022, SteakHut reserves a little over 1,800,000 $STEAK tokens. Of these: · 1,650,409 remain for Herd/bonus emissions · 232,500 remain for treasury balance We are currently emitting 0.01026 $STEAK per second (December 2022). ## **Updated Emission Guidelines** $STEAK emissions will continue to decrease with scheduled emissions until December 2025. Emissions will decrease at a rate of 5% per month for the next three years. This updated emission guideline will greatly reduce inflationary pressure on the $STEAK token. From the emission schedule an additional 1,198,254 $STEAK remain. These tokens may be used for rush programs, LP emission incentives, excess emissions pending market conditions, or to further extend the emission guideline beyond 2025 as required. Into the short-medium term SteakHut plans to continue incentivizing the STEAK-AVAX LP at an approximate rate of 30,000 $STEAK per month. | Month | Emission Rate ($STEAK/SEC) | STEAK/MONTH | | ------ | -------------------------- | ----------- | | Feb-23 | 0.00926 | 24001.01 | | Mar-23 | 0.008797 | 22800.96 | | Apr-23 | 0.008357 | 21660.91 | | May-23 | 0.007939 | 20577.87 | | Jun-23 | 0.007542 | 19548.97 | | Jul-23 | 0.007165 | 18571.53 | | Aug-23 | 0.006807 | 17642.95 | | Sep-23 | 0.006466 | 16760.8 | | Oct-23 | 0.006143 | 15922.76 | | Nov-23 | 0.005836 | 15126.62 | | Dec-23 | 0.005544 | 14370.29 | | Jan-24 | 0.005267 | 13651.78 | | Feb-24 | 0.005004 | 12969.19 | | Mar-24 | 0.004753 | 12320.73 | | Apr-24 | 0.004516 | 11704.69 | | May-24 | 0.00429 | 11119.46 | | Jun-24 | 0.004075 | 10563.49 | | Jul-24 | 0.003872 | 10035.31 | | Aug-24 | 0.003678 | 9533.546 | | Sep-24 | 0.003494 | 9056.869 | | Oct-24 | 0.003319 | 8604.025 | | Nov-24 | 0.003153 | 8173.824 | | Dec-24 | 0.002996 | 7765.133 | | Jan-25 | 0.002846 | 7376.876 | | Feb-25 | 0.002704 | 7008.032 | | Mar-25 | 0.002569 | 6657.631 | | Apr-25 | 0.00244 | 6324.749 | | May-25 | 0.002318 | 6008.512 | | Jun-25 | 0.002202 | 5708.086 | | Jul-25 | 0.002092 | 5422.682 | | Aug-25 | 0.001987 | 5151.548 | | Sep-25 | 0.001888 | 4893.97 | | Oct-25 | 0.001794 | 4649.272 | | Nov-25 | 0.001704 | 4416.808 | | Dec-25 | 0.001619 | 4195.968 |
### ​ # SteakHut Promotions ## JOE Wars Launch: Herd Blitz The Herd Blitz was a program to heavily incentivize users to ‘Zap’ (convert) JOE for hJOE. #### Rewards The first 1,200,000 $JOE Zapped with SteakHut, will be rewarding bonus locked $STEAK tokens at a 4:1.1 ratio. #### Locking Period The Herd Blitz locked $STEAK tokens will be redeemable to users at the end of the cliff period. Tokens will be vested over 16 weeks with a 5-week cliff. #### Steak Allocation * Budget: 330,000 (6.6%) #### Timeframe * Start Time: May 4th, 4pm UTC * End Time: May 9th, 4pm UTC * Date Redeemable: June 13th ### zJOE Blitz The zJOE Blitz was a program to heavily incentivize the competitor's users to convert zJOE for JLP Tokens and deposit these within SteakHut's Herd Boosted Pools. #### Rewards The first 250,000 zJOE converted and deposited with SteakHut, will be rewarding bonus locked $STEAK tokens at a 10:1 ratio. Participants must also remain deposited in the boosted pools for a minimum of three weeks to receive the airdrop. #### Locking Period The Herd Blitz locked $STEAK tokens will be redeemable to users at the end of the cliff period. Tokens will be vested over 16 weeks with a 5-week cliff. #### Steak Allocation * Budget: 25,000 (0.5%) #### Timeframe * Start Time: May 17th, 4pm UTC * End Time: May 20th, 4pm UTC * Snapshot Date: June 10th * Date Redeemable: June 24th **Total $STEAK emitted for Herd Blitz and zJOE Blitz promotions: 250,000** ## STEAK-AVAX Double Rewards Farm Following the SteakHut Rocket Joe Launch a double reward farm has been established on Trader Joe allowing users to earn both JOE and STEAK rewards for supplying liquidity. **Duration:** 30 Days, ending June 5th **Budget:** 317460.3175 Steak (6.35%) ### Double Rewards Farm extended for 30 Days **Duration:** 30 Days, ending July 5th **Budget:** 250,000 Steak (5%) **STEAK-AVAX Farms have been extended at a reduced rate, check** [**Trader Joe**](https://traderjoexyz.com/farm/0x76a551fc28029639AB017742c224159A786F544F-0x188bED1968b795d5c9022F6a0bb5931Ac4c18F00) **for the latest.** ## hJOE Staking: SteakHut Staking Stampede For the initial 7 days of hJOE staking users are able to earn boosted STEAK emissions as part of the SteakHut Staking Stampede. #### Emission Rate * **Base emission rate:** 0.10368 * **Bonus emission rate:** 0.044434 * **Total Stampede emission rate:** 0.148114 **Budget:** 26,873.6832 bonus Steak (0.53%) ## The Wagyu Collection: NFT Frenzy The NFT Frenzy event is a launch promotion for SteakHut's signature NFT range. The first NFT launch had a $STEAK Airdrop component involved. For every 5 JOE converted and deposited into SteakHut you will receive a bonus locked STEAK token, eligible for the first 100,000 Zapped during the promotion period. The Herd Blitz locked $STEAK tokens will be airdropped to users at the end of the cliff period. Tokens will be vested over 18-weeks with a 10-week cliff. * **Start Time:** June 23, 10pm UTC * **End Time:** June 26, 10pm UTC * **Date Redeemable:** September 4 ## sJOE Rush The sJOE Rush is a $STEAK Airdrop to incentivize the first users of SteakHut's auto-compounding sJOE pool. For every 50 $JOE staked during the promotional period, users will be eligible to receive 1 bonus locked $STEAK token airdrop. Users must remain staked for the duration of the cliff period. The bonus locked $STEAK tokens will be claimable to users on the dApp at the end of the cliff period. Tokens will be vested over 18 weeks with a cliff ending September 4th. The promotion will remain open for 72 hours, or until the first 1,000,000 JOE has been converted. * **Start Time:** August 18, 10pm UTC * **End Time:** August 21, 10pm UTC * **Date Redeemable:** September 4 # Token launch Details on the upcoming $STEAK Launch! ## SteakHut's Rocket Joe launch SteakHut successfully launched to the Trader Joe community through Trader Joe's exclusive Rocket Joe program. Our launch program opened for deposits on May 1st and closed on May 5th. {% hint style="success" %} **10,353 AVAX in liquidity raised** {% endhint %} #### A launch with Rocket Joe means: * Fair market price discovery * Large LP from launch to support trading * POL > **“Rocket Joe is a platform that bootstraps protocol-owned liquidity (POL). This is an innovative way to Launch a protocol, we consider this a 'DeFi 2.0' Launch Platform.”** ## Launch Timeline ![](/files/0wfgk4RzjGCtqJsjGe7C) {% hint style="success" %} [**View our Rocket Joe Launch Here**](https://traderjoexyz.com/launch/0xbe80C91a6064597E758759907b0690112A09Ea7d#/) {% endhint %} ## Rocket Joe Allocations Rocket Joe allows us to generate liquidity in the form of a STEAK-AVAX liquidity pool. With SteakHut generating protocol-owned liquidity. Tokens will be rewarded as follows: **· 10% of tokens reserved for launch** {% hint style="success" %} SteakHut will be airdropping a small number of exclusive NFTs to rJOE participants. {% endhint %} The LP tokens that participants receive from the Rocket Joe launch will have no locking period. ![](/files/5G0ePrd0sYSZBqbkefaQ) ## **What will be the $STEAK offering price?** Rocket Joe uses a price discovery method of valuation. Protocols utilizing Rocket Joe will provide x number of tokens that are split amongst participants who deposit AVAX into the Launch Pool. Participants depositing their AVAX will be defining the price, in real-time. The more AVAX that gets deposited, the higher the Issuing Token price will be. For more information on Rocket Joe and price discovery refer to Trader Joe’s guide; {% embed url="" %} ## **Rewarding JOE Zappers with $STEAK** Users who convert their JOE tokens into our Zapped JOE token, Herd Joe (hJOE) will be incentivized with emissions of $STEAK tokens after the initial launch. This encourages users to initially convert their JOE into hJOE and essentially entitles the initial zappers to own a portion of the protocol. Investors will also be able to directly buy $STEAK tokens on market after the protocol launch. (Essentially Zap JOE -> receive hJOE) and protocol ownership entitlements in the form of $STEAK tokens through our emissions schedule. # Fees and Rewards SteakHut is your low-cost DeFi protocol. ## SteakHut Fees The SteakHut protocol acquires a small performance fee on our farms. SteakHut is built on making low-cost DeFi accessible to everyone. Ensure to check the dApp for specific fee information related to your strategy. ## What is the current SteakHut Performance Fee? > veJOE Boosted Farms: 15% > > sJOE Auto-Compounder: 2.5% > > Auto-Compounding Vaults: ∼4% (Check specific vault for exact fee breakdown) ## What are the current SteakHut Liquidity fees? > Stable/Stable Pairs (ex USDC/USDT)= 5% > > Pegged Pairs (ex WBTC.e-btc.b) = 5% > > Non-Stable Pairs (ex AXAX/USDC)= 10-15% > > Custom strategies = 10-20% {% hint style="info" %} Ensure to check the dApp for the most up-to-date fee structure for a particular liquidity strategy. {% endhint %} For actively managed custom strategies the total fee is set between 10-20% as chosen by the strategist. This fee is then divided among the following: > SteakHut protocol fee = 77% of fee > > Strategist = 12% of fee > > Caller = 11% of fee SteakHut's focus is on delivering low fees and large returns to liquidity providers. The fee will vary depending on the token pair and the pooling strategy you are deposited in. For a fee breakdown on your strategy select "Information" on your strategy within the SteakHut dApp. ## How do SteakHut Liquidity users earn rewards? SteakHut Liquidity vaults pools earn trading fees for the underlying pool at a marked percentage as determined by Trader Joe (0.01%, 0.3%, 0.05%, etc.). Higher pool volumes (more trading activity) translate into more fees generated for the pool. Users earn fees based on their proportional ownership of the pool. If a user owns 15% of a pool that earned $1,000 in fees that day, they would be expected to earn about $150 in fees, minus performance fees. Rewards are auto-compounded in pools for greater returns and efficiency on compounding events. This is also when the performance fee is realized. ## How are fees used? SteakHut returns profits to STEAK-Holders. When rewards are accrued they are held in SteakHut's treasury and can be returned to STEAK-Holders in multiple ways: * Directly returned via [STEAKING rewards](/getting-started/steaking/rewards) * Returned via special Buy-Back programs * Reinvested into the protocol to further boost profits ## veJOE Boosted Fees The performance fee across veJOE Boosted farms will be utilized as follows: * Distributed to $STEAK-Holders (50%) * Distributed to JOE zappers to incentivize zapping (50%) initially Zappers will be incentivized with $STEAK emissions. The 50/50 split is subject to change as the protocol matures. Any special bonus tokens or assets acquired by the SteakHut protocol will be held by the community treasury and belong to STEAK-Holders (or deployed in marketing activities to boost the community). ## SteakHut Rewards SteakHut rewards users in a number of ways. You can learn about the different ways to earn yield below. ### Liquidity Depositors * Receive up to 95% of revenue from swap rewards. ### JOE LP Depositors * Receive up to 97% of our boosted protocol revenue in the form of JOE * Sliding scale fee from between 3% - 20% depending on TVL levels ### hJOE Holders * Initial hJOE Holders will receive $STEAK Tokens * Over time users will be able to stake hJOE to receive \~50% of fee profits generated by veJOE pools ### STEAK-Holders * STEAK-Holders receive a revenue share from rewards realized by the SteakHut protocol * Capital returned in the form of revenue shares, and Airdrops, and buy-backs * Any excess profits acquired through SteakHut will be deposited into the STEAK-Holder treasury # Smart Contracts {% hint style="warning" %} DO NOT SEND YOUR TOKENS TO ANY OF THE BELOW CONTRACTS {% endhint %} ## SteakHut Finance
ContractAddress
SteakMasterChef0xddbfbd5dc3ba0feb96cb513b689966b2176d4c09
JoeZapper/Herd Joe Token0x80Ed8a2E8AB5FDA8d132eE76843ee43a32f866C1
SteakHut Voter0x1aB6B2f60A7e8DA9d521cF8f90b2a5b5d314b3A6
STEAK Token0xb279f8DD152B99Ec1D84A489D32c35bC0C7F5674
MasterMultiSig0xD316d2AA04d71Fd1E332437b0Cb5d261FD2F99AE
Team Vesting Contract0x462023e4ceC036D67017e2773F2C89AcB82ad5ce
hJOE Staking Rewarder0x5D156Be4f17cbBFC26Bd579AF9a59f5B6741c770
Simple rewarder (hJOE V2)0x4E664284B7fbD10633768D59c17D959D9cB8deE2
Vesting Allocator0x91Db98d9f327F29F8513917CC3737eA026fcdc8B
SimpleRewarderPerSec (STEAKING)0x1f6866E1A684247886545503F8E6e76e328aDE34
sJOE Vault0x0B388b9938b69ad379c75F2D8ca2148DF453d937
sJOE Start0x7D531E80D1Af62B25A575f427004F52375863dff
xSTEAK0x902Aa4cC3b463c84541C9C1DeDF50620C99950B9
Deployed Dividends V20x492ED82B523053E9d6B9db53eE5c05E4d1271839
Deployed allowList0x63Bc1486CcAd35b4022406148D08B1385c637D97
### ARBITRUM ADDRESSES | Description | Address | | ----------------- | ------------------------------------------ | | STEAK Token (OFT) | 0xddBfBd5dc3BA0FeB96Cb513B689966b2176d4c09 | | Team Multisig | 0x75aefFba75a714FC343C101Be729a68e6ACa94AC | ## STEAK.jpeg | Description | Address | | ------------------- | ------------------------------------------ | | STEAK.jpeg Treasury | 0x1130bF72C99700251893B117b22362317A4e52B3 | # Security SteakHut has been built around the safety and security of the protocol and user assets. However, there are inherent risks when interacting with any decentralized-finance smart contracts. We pride ourselves on ensuring that relevant code audits are completed both internally and through external parties to ensure peace of mind. Even so, the possibility of losing some or all of your funds is non-zero. Please exercise caution and work within your own risk framework when it comes to interacting with the platform. ![](/files/7CRLqIcK9CNy7iE9MS2U) ### Disclaimer *The SteakHut Finance protocol is provided "as is", at your own risk, and without warranties of any kind. No developer or entity involved in the creation of SteakHut finance will be liable for any claims or damages associated with your use, inability to use, or your interaction with other users of the SteakHut Finance protocol, including any direct, indirect, incidental, special, exemplary, punitive or consequential damages, or loss of profits, cryptocurrencies, tokens, or anything else of value.* # Audits The SteakHut smart contracts have undergone vigorous reviews and audits, both internally by the SteakHut Finance team, and externally. SteakHut finance has utilized the reputable [Paladin Blockchain Security](https://paladinsec.co/) to audit our smart contracts. > Paladin is a leading smart contract auditing company with an essential focus on decentralized finance protocols. Paladin has a large experience in Avalanche Smart Contracts, they have been trusted by many previous Trader Joe projects and large reputable defi protocols. By working with Paladin, we can be sure that we are bringing the highest quality product to the SteakHut community! ## VeJOE Audit: {% embed url="" %} ## SteakHut Liquidity Audit: {% file src="/files/8c9H9RyYoKUv3lTbrZQE" %} Coming Soon # Multi-Sig 🔒 Ownership of our smart contracts and all associated treasury assets has been transferred to a multi-sig contract. This multi-sig is owned by both a combination of SteakHut, and community team members. The multi-sig has 2 representatives from each side and will require 3 votes total for any changes to be made to the contracts. This means that at least one member from either side must approve any changes. ## SteakHut's MasterMultiSig The purpose of the MasterMultiSig is to manage the governance of the SteakHut protocol and act in the best interest of the Protocol at all times. The multi-sig is provided through a Gnosis safe. The current setup of the multi-sig exists to govern the below contracts: * SteakHutVoter * SteakMasterChef * JoeZapper * SteakEmittor (Soon) * TreasuryVotingContract (Soon) * Any additional contracts that may be introduced in the future ## MasterMultiSig Members Please see below for the multi-sig address as well as the list of multi-sig signatories: {% hint style="success" %} **Multi-Sig address:** 0xD316d2AA04d71Fd1E332437b0Cb5d261FD2F99AE {% endhint %} {% hint style="info" %} **SteakHut Finance Team:** **0xWagyu:** 0x6A70c42Cf31275BDdf9522B61109FaAdBF8Cf228 **0xRibeye:** 0x491A800401E8792E8f7CccA5dBd276093Adb1D9b {% endhint %} {% hint style="info" %} **Community Team:** **XPKea:** 0x1b1fdc374c5c9a87f01eadfae2ca5ad4c348382a **P456:** 0x4d70CA9e7f75392D76204B81B7981eE8D0E17fe3 {% endhint %} # Glossary ## $STEAK $STEAK is SteakHut's governance token and represents ownership in the SteakHut Protocol. It is a deflationary token. Holders will be eligible for buy-backs and dividends. ## STEAK-Holder Someone that holds $STEAK ## The Herd The SteakHut's powerful collective community. The Herd works together so we can all enjoy boosted yields. ## JOE Trader Joe's governance token ## hJOE Herd JOE (hJOE) are JOE tokens that have been Zapped with SteakHut. hJOE holders are eligible to receive $STEAK emissions initially followed by profit shares generated by the protocol. ## veJOE Trader Joe's veTokenomic staking system. Stake JOE into veJOE to earn veJOE overtime, and receive boosted JOE Farm rewards and governance over veJOE. ## APY Annual Percentage Yield, is the normalized representation of an interest rate, based on a compounding period over one year. ## JLP Trader Joe LPs, or JLP tokens are the tokens received when providing liquidity on Trader Joe. ## TVL Total Value Locked is the dollar amount of all LP deposits staked in the SteakHut protocol. # General FAQ
What is SteakHut Liquidity? SteakHut Liquidity is a protocol built to automatically manage your concentrated liquidity position on Trader Joe's DEX V2, The Liquidity Book.
What is concentrated liquidity? Concentrated liquidity is liquidity that has a set price range. This allows users to "concentrate" their liquidity into ranges for more capital efficiency and more fees.
What are the benefits and risks associated with concentrated liquidity? By concentrating liquidity into specific ranges, the liquidity provider can earn more fees and have more control over their capital. Traders experience less slippage on trades in concentrated liquidity markets. Concentrated liquidity is an added level of complexity, with a variety of possible use cases. Concentrated liquidity can also amplify negative things like impermanent loss.
Is there a limit to how much I can deposit or withdraw? No
# Brand Assets Feel free to use any of our SteakHut branding assets. Be sure to drop your creations off in our [Discord server](broken://spaces/Rb9THZu3sjEsVL3A7aK3) for us all to enjoy! ## SteakHut Logo and Token
## **SteakHut Typeface**
## **Wagyu** ![](/files/QpKUGzNzOXnSZi2YMmvP) ![](/files/V15bBvAnxLTwEHIMaKyY) ![](/files/kh943xGZGvboxIJiIdct) ![](/files/4DB741RP9h9OjN1hlpM3) ![](/files/3bzwdtxhicPBiPrLYWnz) ![](/files/xMqWHRISNoS4SZPmaRDu) ## Joe Cow ![](/files/IFR3RMrweBzKB0SxZNxt) ![](/files/TueoRBysxJKAmVPFgABn) ## Ribeye ![](/files/ivirBuEZJF4DRudvGJwz) ![](/files/vnEcPXSf1z7hVUKkdBoG) ## Other ![](/files/x0hy2jBbakhjewhrjUdP) ![](/files/tPpEH15xqKC1a6EpaR5M) ![](/files/eIEYddKIgWEMjfGE64Xs) ![](/files/ufdhW1E9rzujYlBtoGb1) ![](/files/8CaarE7cDn1JGVeCrrHY) ![](/files/JA927VrrnItV7vQI1jru) ![](/files/VKEBq676qk4hDlh5NToy) ![](/files/xDNRyY87DznBSQMQilOx) ![](/files/Kta4G6aJiw5CBHv4l2TI)