sJOE Staking
Stake JOE into sJOE to earn Stablecoin rewards

What is sJOE?

sJOE is a Staking option that provides users with yield in the form of a Stablecoin
  • Stake JOE into sJOE and earn Stablecoin rewards - 'USDC'

Claim your share of Platform Revenues

For every swap on Trader Joe, a 0.05% fee is charged and accrued by the protocol, this is converted into a Stablecoin and then distributed to the sJOE Pool every 24 hours.
  • Staking into sJOE rewards you with a share of all platform revenue generated

How to Stake into sJOE

  1. 1.
    Head over to the Staking page
  2. 2.
    Select the sJOE Staking Pool
  3. 3.
    Deposit your JOE (you will need to confirm the transaction in your Wallet)
  4. 4.
    Select Harvest when you wish to claim Rewards
  5. 5.
    Congratulations, you have now claimed Stablecoin rewards!
sJOE is not a Token/Receipt therefore there is no Contract ID for sJOE
sJOE Staking

sJOE Staking

sJOE Staking is a highly accessible Staking option. Users can Stake into sJOE and unstake from sJOE at any time. There is however a deposit fee mechanism to prevent over-saturation.

Deposit Fee

  • Staking into sJOE may come with a fee
  • The fee can scale up to 3% Max, depending on the number of JOEs already Staked
  • The 3% Fee is taken from the JOEs that you deposit into the sJOE Pool
  • Currently any deposit fee taken will be sent to the Treasury
How much do I earn?
sJOE Stakers receive rewards proportional to their share of the sJOE vault.
Calculation: userRewardRate = userJoe / totalJoe * sJoeRewardRate.

sJOE Staking Pool

sJOE Staking
Link

xJOE: What happens?

xJOE will remain on the platform and can be accessed at any time. However, xJOE will stop receiving any interest accrual from Platform revenue generated.
If you are currently engaged in collateralization of xJOE on Banker Joe or other partner platforms, you can continue to hold that position, however xJOE will no longer compound daily. It would also be prudent to check with any partner platforms for their continued support of xJOE.

Why Change xJOE to sJOE?

The transition to the sJOE Model will significantly improve User Experience (UX).
Removing the xJOE Interest Bearing Model allows for a Staking option that improves clarity on rewards and also lowers accessibility barriers. This combination improves the overall UX and therefore will help to increase demand for sJOE Staking.
xJOE was a 'borrowed' model from the xSUSHI Token. The interest-bearing mechanism is gas-efficient on the Ethereum blockchain. However, this is not a key problem present on the low-transaction fee Avalanche blockchain.
Using an interest-bearing model has a trade-off with UX, there is a lack of clarity around reward rate being accrued and also the model is confusing for newcomers into the DeFi space. sJOE allows for the instant ability to see yield and to also, claim the rewards just like a yield farm.
Lastly, why a Stablecoin instead of more JOE rewards? There are two reasons for this:
  • Remove the sell pressure caused by providing more JOE rewards
  • Provide a versatile reward that facilitates further platform engagement