Preparing for Liftoff with Rocket Joe
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Over the last several weeks, the Vector Finance team has been working with Trader Joe in preparation for our launch.
We’ve decided to utilize their protocol-owned liquidity launch platform, Rocket Joe, to do so.
This article details how the launch will go and how you can get prepared!
Intro to Rocket Joe
Rocket Joe is an advanced DEX launchpad where projects can bootstrap protocol owned liquidity (POL). Rocket Joe also features fair launch mechanics, allowing for price discovery before tokens go live on a DEX. This means no bots, no contract sniping, and no gas wars. Users are able to get access to these exclusive launches by staking JOE to accumulate rJOE. rJOE can then be burned for AVAX allocation during the launch. For every 100 rJOE you have, you can unlock 1 AVAX allocation. With Rocket Joe, Vector will be able to bootstrap initial liquidity that the protocol will own forever, reducing the need to incentivize LP staking in the long-run.
For a detailed explanation of Rocket Joe’s mechanics, please read Trader Joe’s documentation:
VTX Tokens Up for Grabs!
Vector will be allocating 4,500,000 (4.5%) of our max token supply to the Rocket Joe launch. 4,000,000 of these tokens will be used to seed liquidity and the remaining 500,000 tokens will be bonus incentives awarded to all Rocket Joe participants.
How to Prepare
To prepare for Vector’s launch, you will need: JOE and AVAX.
First step is to purchase JOE and AVAX on https://traderjoexyz.com/trade
Next step is to stake JOE to earn rJOE on https://traderjoexyz.com/launch
Once these two steps are complete, you are ready to participate in Vector’s launch on Rocket Joe!
Vector Launch Timeline
Phase 1: Deposit & Withdrawal Phase
Feb 24th, 6pm UTC — Feb 26th, 6pm UTC (48 hours)
Deposit
- In this phase users will be able to spend their rJOE in order to deposit AVAX to the launch pool
- For every 1 AVAX you would like to contribute, you will need to burn 100 rJOE
- VTX/AVAX token ratio determines the price of VTX
Withdraw
- No withdrawal fee for first 24 hours
- Withdrawal fee begins after 24 hours, starting at 0% and scaling to 5% by the 48th hour
- Withdrawal fee is put into place to prevent whales from gaming the system with price spoofing
Phase 2: Withdrawal Only Phase
Feb 26th, 6pm UTC — Feb 27th, 6pm UTC (24 hours)
During this phase, participants can only withdraw their AVAX. No new deposits will be accepted during this phase. All withdrawals will incur a 5% fee — these fees will be paid to Trader Joe.
Phase 3: VTX Token Launch (TGE) & Liquidity Lock
Feb 27th, 6pm UTC — March 2nd, 6pm UTC (72 hours)
On February 27th at 6pm UTC, the VTX token will go live on Trader Joe and will be tradable by the public. Users who participated in the Rocket Joe launch will receive their LP tokens, but these tokens will be locked for 3 days. The amount of VTX received per AVAX contributed is based on the total amount of AVAX contributed into the pool. I.e., the more AVAX contributed, the higher the resultant price, the less AVAX contributed, the lower the resultant price.
Bonus tokens will also be claimable during this phase. Vector has allocated 500,000 bonus tokens for participants. This is equal to a 12.5% bonus for participating in the launch! These VTX tokens will not be paired with liquidity and will become immediately available at TGE. They will be claimable on the “Launch” tab on Trader Joe’s site.
Phase 4: Double Rewards Farm
March 2nd, 6pm UTC — March 17th, 6pm UTC (15 days)
Directly after the scheduled unlock of Rocket Joe LP tokens, Vector and Trader Joe will be teaming up to launch a double rewards farm on Trader Joe. What is a double rewards farm? It means users will receive both JOE and VTX tokens for staking their LP!
Summary
- Vector is launching on Rocket Joe!
- Deposits will run from Feb 24th 6pm UTC — Feb 26th 6pm UTC
- Vector TGE for the public is set for Feb 27th at 6pm UTC
- Buy and stake JOE for rJOE to participate in the launch — every 100 rJOE earns you a 1 AVAX allocation
- Double rewards farm goes live on Trader Joe on March 2nd 6pm UTC
- Please read all Rocket Joe docs for more detail on how Rocket Joe works:
