The Future of hJOE

It is time for the community to decide on the future of hJOE.

hJOE is SteakHut's LSD token for staked JOE. It originated as a derivative of veJOE, and later transitioned to support sJOE after the sun setting of veJOE.

hJOE Context and Considerations

• Currently 1.5m hJOE is in circulation • Users Zapped/blackholed JOE to hJOE for the veJOE product • An estimated 1,000,000 $STEAK (20%) was spent directly on emissions and marketing to incentive the Zapping of hJOE. • $STEAK is the protocol’s governance token

Option One: sJOE LSD Product

SteakHut will continue optimizing rewards from sJOE and rewarding it back to hJOE stakers. If selected this will continue for another 6 Months before further review.

Option Two: Full Redemption at 100%

In this option, underlying JOE would be returned to hJOE holders offering a conversion rate of 1:1. hJOE holders will be able to convert tokens once the contracts are created allowing for redemption.

Option 3: Partial Redemption at 90%

This option serves as a compromise between the interest of hJOE and STEAK. hJOE holders will be able to redeem underlying JOE at a rate of 1:0.9, the remaining 10% will be distributed to $STEAK stakers.