👁
Overview
The protocol will be accumulating
sJOE in order to earn revenue generated by Trader Joe. We strongly believe in the growth of their protocol, consequently we will be staking part of raised JOE to sJOE.Revenue generated from
sJOE will in part be rewarded to bond holder and in part reinvested into the protocol. Below we show a diagram representing the flow of sJOE rewards.The percentages shown in the diagram below are just examples, and they change periodically to meet Farmer Frank's growth target & objectives. To check current values check the Strategy Variables page.
The main goal of Farmer Frank is to raise
veJOE tokens in order to capture a significant boost on Trader Joe's farms. During Phase 1 of the protocol we will be using the boost to farm treasury assets, such as reinvested revenue generated by sJOE. Part of revenue will be rewarded to bond holders and part will be reinvested within the protocol.
During Phase 2 we will be launching Farmer Frank Farms (FFF). The main idea behind FFF is that users can farm their LP tokens with us rather than with Trader Joe. Frank protocol will act as a boost proxy for Trader Joe farms, enabling users to achieve boosted rewards without having to actually hold
veJOE. Farmer Frank protocol earns by giving the farmer slightly less boost than the protocol's maximum. This excess boost is referred to as Protocol Boost Revenue (PBR) and will be distributed to bond holders / reinvested. The farmer is not worse off, as the boost we offer him is still much higher than what he would be able to obtain elsewhere.
Last modified 10mo ago