Replace Joe with yyJOE in $aHYPE

#1

Currently $Joe makes up the third largest percent of $aHYPE and is not earning any yield. Right now APR is 8.15% on SJOE , but due to the deposit fee we are not able to use sJoe in the fund.

I would propose instead of missing out on that yield we instead use yyJOE. You can read more about yyJOE here. Yield Yak launches Yak Rush for yyJOE alongside veJOE strategies to boost Trader Joe farming yields | by Yield Yak | Medium. yyJoe currently earns 27.4% APY on yield yack Yield Yak | Earn More Yield.

In the future to diversify risk other options could be added like $zJOE from Vector Converting and Staking JOE - Vector Finance.

There is also the option of having both $JOE and $yyJOE for diversification of risk.

  • Replace JOE with yyJOE
  • Don’t Replace JOE with yyJOE
  • Keep JOE and add yyJOE

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#2

Definitely a replace type of situation. Excited to hopefully see this pass

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#3

Musings on the replacement of $JOE for $yyJOE - Some bullet points:

  • yyJOE only has about $20k in liquidity.
  • The token is trading at a ~40% discount compared to $JOE.
  • It’ll never be worth more than one JOE, but it can always be infinitely less than that.

This, coupled with the fact that a 20% APR and a cliff-of-no-return means that we have to wait over 4 years to get the invested $JOE back, makes this an overtly risky investment.

It does not seem worth it, in my opinion.

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