JP-6 Open zJoe-JOE Market

Proposal initiated by Ayman, temperature check recorded 32 in favor and 1 against

High Level:

zJoe, a derivative of Joe created by Vector Finance receives a portion of the fees generated by Vector by boosting LPs using the veJoe accumulated through blackholing Joe.

The health of zJoe is important for the Joe ecosystem as zJoe has a current market cap of over $1.5 million.

zJoe token holders have a vested interest in the long-term success of Trader Joe.

Vectors $VTX also controls over 58% of veJoe voting power.

The zJoe-Joe market currently has approximately $200k in liquidity, and less than $10k in daily volume, making the current market very capital inefficient.

zJoe being semi-pegged to Joe would make for an extremely interesting LB pool, and LPers would likely have to rebalance less. The potentially deepened liquidity would help support both the Vector and Joe ecosystems by making zJoe easier to enter and exit.

Asset Confirmation:

Market: Avalanche Token Name: zJoe Associated Protocol: Vector Finance Token Contract ID: 0x769bfeb9fAacD6Eb2746979a8dD0b7e9920aC2A4 Joe LP Token Contract ID: 0xcF80e302282c1E449Fd745fad1e43FAFfe480536

Links:

Snowtrace (zJoe Token): https://snowtrace.io/token/0x769bfeb9fAacD6Eb2746979a8dD0b7e9920aC2A4

Snowtrace (zJoe-Joe JLP): https://snowtrace.io/address/0xcF80e302282c1E449Fd745fad1e43FAFfe480536

CoinGecko: https://www.coingecko.com/en/coins/zjoe

Joe LP Token Analytics: https://analytics.traderjoexyz.com/pairs/0xcF80e302282c1E449Fd745fad1e43FAFfe480536

Protocol Website: https://vectorfinance.io/

Token Distribution: https://docs.vectorfinance.io/getting-started/tokenomics/token-distribution

#Tokenomics:

zJoe is minted only when Joe is converted and blackholed into zJoe using the Vector Smart Converter while above the threshold ratio of 0.90-0.95 joe/zjoe.

zJoe earns about 17% apr in $VTX and about 2.5% apr in $JOE

Summary:

Adding zJoe to LB would make for an interesting LPing experience with a semi-pegged token while making both the Vector and Joe ecosystems stronger.