What is zJOE?
Vector Finance is a protocol that aims to revolutionize the yield generation for stablecoins and LP deposits. This innovative platform synergistically integrates with Platypus Finance and Trader Joe, two leading platforms in the DeFi ecosystem. Vector enables users to generate boosted yields on their stablecoins or JOE LP deposits, even if they don’t own any PTP or JOE.
At Vector, we aggregate PTP and JOE from users who choose to convert their PTP or JOE on our platform. This unlocks utility for the PTP and JOE tokens, providing a more diverse user base for Platypus and Trader Joe. Users who convert their PTP into xPTP, or their JOE into zJOE, receive a portion of the yield generated by the protocol. This approach ensures better capital efficiency and more yield for stablecoins and LP depositors.
VTX is the governance token that powers Vector Finance. It receives a share of Vector's revenue (~30%) and unlocks the highly sought-after voting power from PTP or JOE holders who may not be as concerned with governance. VTX is rewarded to xPTP and zJOE stakers, stablecoin and JOE LP depositors, and liquidity providers for our tokens.
Platypus and Trader Joe tokenholders can earn significant yield on their PTP or JOE by utilizing Vector Finance. This transforms PTP and JOE into productive assets via our minted tokens “xPTP” and "zJOE". As it stands today, the primary utility for both PTP and JOE is that they unlock boosted rewards for staking on the Platypus or Trader Joe platform. Holders who stake their PTP on Platypus, or their JOE on Trader JOE, receive the "vote escrowed" version of the token over time. The share of vePTP and veJOE that a user owns is what increases the user’s staking rewards on each platform.
vePTP and veJOE are also used to vote on asset listings and other governance proposals on the Platypus and Trader Joe platforms. veJOE will be used for governance and gauge votes on Trader Joe as well.
While neither Platypus nor Trader Joe require you to lock up your PTP or JOE to receive their ve-token, the user benefits from leaving either staked for as long as possible, since it accrues over time. Once a user unstakes any amount of PTP or JOE, their ve-balance resets to 0.
In a similar fashion, Vector utilizes Trader Joe's veJOE staking to benefit JOE LP token depositors, and JOE holders. Users can convert and stake their JOE as zJOE on Vector and receive their portion of the protocol's revenue plus more VTX tokens. JOE LP token depositors can utilize Vector's accrued veJOE for boosted yields on their deposits, without having to stake JOE for veJOE.
Vector Finance is an innovative platform that is unlocking the potential of stablecoins and LP deposits. By integrating with Platypus Finance and Trader Joe, Vector is enabling users to generate boosted yields on their stablecoins or JOE LP deposits, even if they don’t own any PTP or JOE.
With VTX, the governance token that powers Vector, users can unlock voting power and earn more revenue. Additionally, by converting and staking their JOE as zJOE on Vector, JOE LP token depositors and JOE holders can benefit from the platform's revenue and receive their share of VTX tokens. This is a win-win situation as it not only allows for better capital efficiency and a more diverse user base for Platypus and Trader Joe, but it also creates a new avenue for JOE holders to generate passive income. By providing boosted yields on stablecoins and JOE LP deposits, Vector Finance is empowering users to make the most out of their crypto assets and helping to bridge the gap between decentralized finance and traditional finance.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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