Here’s yet another chance for the Cowmoonity to earn maximized rewards through our collective staking power. This time, our Trader Joe strategy is here to help you maximize your veJOE rewards. Don’t mess around staking yourself, simply mint beJOE and get a boost to your JOE earnings courtesy of Beefy.
What is JOE?
JOE is the native token of Trader Joe, a decentralized exchange on Avalanche. It rewards holders with a share of the platform’s revenues and also acts as a governance token. JOE has a fixed supply and decaying emission model.
Users can stake JOE in three ways:
1. Stake JOE for rJOE to participate in Rocket Joe Liquidity Launch Platform.
2. Stake JOE for sJOE to earn Stablecoin rewards and share in the platform’s revenue.
3. Stake JOE for veJOE and receive boosted JOE rewards in selected Trader Joe Farms and governance voting power
With beJOE, Beefy is maximizing rewards through the veJOE staking mechanism. veJOE rewards long-term stakers with Boosted JOE Farm rewards and governance voting power. When you stake JOE, you receive veJOE over time.
The more veJOE you have, the more you can increase your JOE yield in Trader Joe’s farms. You will also be able to use veJOE as voting power in the future governance of Trader Joe. If you add 5% more of your existing stake, you can activate a veJOE accrual boost.
What is beJOE?
beJOE is a Beefy-wrapped version of $JOE staked to earn $veJOE, maximizing emissions on boosted farms. beJOE stakers earn 5% of emissions from those boosted farms.
Our strategy offers the best service as other locked offerings don’t provide an exit.
How does beJOE work?
Users will be able to mint beJOE by depositing JOE in our Vault at a 1:1 rate. There will be no liquidity for beJOE, instead, there will be a withdrawal reserve. You will be able to burn beJOE for JOE when there is enough JOE in the withdrawal reserve.
Beefy will stake 80% of the JOE to earn veJOE and hold 20% in the withdrawal reserve. For every Farm added to the boosted Farms, Beefy will divert 5% of the harvest to our beJOE reward pool.
As users deposit more JOE, we will hold them back until we activate a Speed Up bonus on our veJOE. This will occur in increments of 5% of the total amount currently staked in veJOE.
What can I do with beJOE?
Once you’re holding beJOE, there are a couple of available options. You can either stake it in the:
- Vault to earn more beJOE
- Earnings pool to earn JOE
Note that there will be no liquidity provided for beJOE by Beefy.
Where can I get beJOE?
You can mint beJOE on the beJOE Vault page at a 1:1 ratio. As mentioned, If there is enough JOE in the reserve, you can burn 1 beJOE to get 1 JOE. This reserve only fills up when a new user deposits.
But what about fees?
Beefy has the lowest yield-optimizing fees on Avalanche. With Beefy’s new beJOE boosted farms, you earn more than anywhere else. Beefy charges its normal 4.5% performance fees on boosted farms plus an additional 5% delivered directly to beJOE stakers.
Ramp up your veJOE rewards with beJOE
The DeFi world is full of innovative tokenomic models. As part of this, we’re here to support users in making the most of them and also projects in attracting stakers. If you want to take part in sharing Trader Joe’s revenue, then the best way to do it is with Beefy-