Protocol Update: Status of zJoe

Vector Finance
2 min readJan 19, 2024

zJOE, a dynamic product in the decentralized finance space, has undergone significant changes in its nearly two-year existence. From a liquid veJOE to a cross-chain yield sJOE, zJOE is now entering a new phase with Merchant MOE integration.

Mantle and Merchant MOE Integration

After Merchant MOE’s successful launch on Mantle, we staked 100% of the JOE backing zJOE on this platform to partake in the airdrop. The 1.606M MOE received was fully reinvested in Merchant MOE. Our strategy aims at growing our MOE holdings, with the MOE count rising from 1.606M to 1.915M in a week, a 19% increase. This growth strengthens our voting power and secures future revenue for zJOE holders.

Future Strategies and Earnings

While we wait for sMOE and official bribes from the Mantle ecosystem, we are finalizing deals with key Mantle protocols to continue growing our MOE bag. Soon, MOE will generate revenue sharing from Merchant MOE and bribes from ecosystem protocols. We’ve also bridged JOE back to Avalanche and Arbitrum to resume earning sJOE yield, with VTX emission set to complement the zJOE APR.

Governance and Yield Distribution

In the future, LVTX holders will receive bribe rewards. Initially, Vector will vote for the highest bidder until we transition to decentralized voting on Avalanche. zJOE will earn 90% of the sMOE yield in addition to the sJOE yield.

zJOE Ratio Improvement and Buyback Program

The buyback program improved the zJOE ratio from 0.35 to 0.74 in the last month. Currently, Vector holds 11,166,500 JOE. By burning 2,948,999 zJOE and staking 2,086,925 zJOE, Vector has aligned its success with zJOE’s.

Conclusion: TLDR and Next Steps

Vector’s MOE holdings have grown from 1.6M to 1.9M MOE due to the airdrop. As we await the official bribe market and Merchant MOE revenue sharing, we’re strengthening ties with Mantle protocols to increase our MOE shares. zJOE is evolving into a cross-chain yielding product, benefiting from both sJOE and sMOE yields. With JOEs now back to earning sJOE yield, the future is promising for both LVTX and zJOE stakeholders.

Disclaimer: This article is for informational purposes only and is not investment advice. Please conduct thorough research or consult a financial advisor before making investment decisions.

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