3 Ways to Earn Staking Rewards from Trader Joe

By quantdoge | Daily Crypto Risk Report | 17 Apr 2022


Investment Disclaimer:

  • I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only.
  • Past performance presented here is not an indicator of future performance.
  • This post expresses my own opinion about the cryptocurrency mentioned herein and is not an offer to buy or sell, or a solicitation of any offer to buy or sell the cryptocurrency mentioned in this post.
  • I do hold a long position in JOE as a token holder.

1. What is Trader Joe?

Trader Joe is a one-stop-shop Avalanche DeFi platform where you could trade, provide liquidity, farm your LP tokens, stake your JOE tokens, lend, borrow and participate in IDO on this multi-purpose platfom itself.

Trader Joe achieves this by offering a suit of decentralized DeFi protocols, namely:

Trader Joe Exchange (trading, liquiity mining, yield farming)
Banker Joe (lending, borrowing)
Rocket Joe (IDO launch3es)
Trader Joe Moular Staking Pools (staking)

2. Three Ways to Earn Staking Reward from Trader JOE


JOE token is the native governance token of Trader Joe. There are three ways to stake JOE on the protocol itself according to your own needs and objectives.

First Way: I want to generate a stable income

Stake JOE on sJOE pool, you would get 0.05% cut of all trading fees + deposit fees collected from new sJOE depositors according to your own percentage share of sJOE pool in the form of USDC stablecoins.

Pros:
- Low risk as all incomes are being paid in stablecoins. The only risks here I can see are smart contract risk and risk of USDC losing its peg.

Cons:
- Lower income yield as a trade-off of not taking huge risk.

Second Way: I am a risk taker and venture lover who invests in a large range of small-cap coins and new projects

Stake JOE on rJOE pool, you would accrue rJOE tokens over time that are needed to participate in all Rocket Joe launches.

Cons:
- rJOE tokens have no value and cannot be bought nor sold

Pro:
- Because rJOE tokens cannot be bought from others, its IDO model favours users who have staked JOE for a long period of time and are serious about IDO participation

Third Way: I'm providing liquidity to Trader Joe and looking for ways to boost my farming rewards

Stake JOE on veJOE pool, you would accrue veJOE tokens and once claimed, would boost your APR on selected farms.

Pros:
- Much higher income yield
- Strategy which rewards long-term liquidity providers=>

Provide liquidity to LP and earn JOE as your LP mining rewards -> Cashing out your JOE earned, stake them on veJOE pool where you would accrue veJOE tokens over time ->  once accumulated enough veJOE, claim your veJOE tokens which would then increase your current rate of JOE distribution.  Repeat the same step over and over again until you wish to withdraw all liquidity from your LP.

Cons:
- Risk of impermanent loss as volatility changes
- If you unstake any amount of JOE, you lose all your accrued veJOE rewards

3. $JOE Crypto Research Report

Interested to know more about Trader JOE, JOE tokens and its future potential ?

I have collected various market and transactional data from both on-chain and off-chain sources, made a thorough analysis and compiled them into a detailed report. 

Grab them for free via the following link:

https://bit.ly/trader-joe

 

 

How do you rate this article?


21

0

quantdoge
quantdoge

Data scientist in crypto and blockchain space.


Daily Crypto Risk Report
Daily Crypto Risk Report

This blog was created by quantdoge, a data scientist in the cryptocurrency and blockchain space to publish daily risk reports on different cryptocurrencies. All published reports in this blog were analyzed with in-house algorithmic trading and quantitative risk management technology. ** Investment disclaimer: ** I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.