Benefits for Trader Joe
By locking JOE tokens forever, we are essentially removing them from the circulating supply. This leads to an always diminishing sell pressure that will surely be beneficial for JOE's price.
By providing higher APYs compared to Trader Joe's, we will be driving more liquidity to our protocol and to the Avax ecosystem as a whole. When users deposit liquidity on Farmer Frank's Farms we simply deposit that same liquidity on Trader Joe using our
veJOEboost. This leads to the intrinsic increase in liquidity on Trader Joe, which surely brings a variety of benefits such as more efficient price execution and market making.
Releasing our $FRANK governance token in the future allows us to initially focus on JOE and its accumulation. This means that all assets which enter the platform will be directed towards Trader Joe's ecosystem.
veJOEwill obtain governance power, we will actively participate by voting what is more beneficial to liquidity, i.e. representing all liquidity providers. There will be no
veJOEwhale who will vote for what is more lucrative to him. Us voting for what is more beneficial to the ecosystem will further help Trader Joe foster in the long term.
Last modified 10mo ago