Farm a new crop by using sJOE as collateral while earning staking rewards! YBAs just keep on winning with fixed rate, non-liquidatable loans.
The Time Machine has onboarded a new YBA: sJOE! YBAs are the future of DeFi and Timeswap is excited to take everyone there. This integration extends the terminal point of sJOE, unlocks new horizons and improves capital efficiency in DeFi. Let’s check out how we got here!
Farming yields with TraderJoe
There comes a time in an asset’s life, where its journey ends. When it stops at the destination and can travel no further. For sJOE, this was the case if you wanted to earn protocol revenues from TraderJoe. You had to stake your JOE to get sJOE and be eligible for a portion of the revenue in USDC.
No more does the journey of JOE end here! With the inclusion of sJOE as collateral that is accepted by the Time Machine, new horizons have opened up and the journey continues. sJOE is now our newest YBA integration!
Now, Timeswap will stake your JOE collateral into TraderJoe automatically! Got sJOE instead? No worries, when you initiate the borrowing process we will unstake your JOE and then stake it again through Timeswap. It doesn’t matter what you have, JOE or sJOE, the Time Machine welcomes you!
TraderJoe is second only behind Uniswap, by volume on Arbitrum. Imagine what happens when sJOE becomes a pathway to leveraging liquidity back into the TraderJoe ecosystem. 👀
Oh and just like our snrLLP integration, you will keep earning the USDC rewards and be able to claim it on our UI
How to use sJOE as collateral?
If you have sJOE, it will be unstaked and then staked again through the Timeswap UI.
Do not be worried if the transaction prompts you to unstake before the borrow transaction happens, Timeswap will stake it for you and you can claim the USDC rewards as usual!
This is the flow of a borrow transaction:
- You enter the amount of USDC.e you would like to borrow and click Borrow.
- The unstaking transaction prompts you to unstake your sJOE to be used as collateral.
- Then it stakes your collateral into TraderJoe.
- You receive the USDC.e loan.
If you have unstaked JOE, the unstaking portion of the transaction is not applicable. Timeswap will simply stake it into TraderJoe and pay out the USDC.e loan.
Want to know more about our YBA integration and its advantages? Read the blog here.
Pool Details
- Network: Arbitrum One
- Collateral asset: sJOE
- Supplied/borrow asset: USDC.e
- Transition price: 0.15 sJOE/USDC.e
- Maturity: October 2, 2023 at 12:00 UTC (~5 weeks)
PSA: The staking contract built by Timeswap to stake JOE token has not been audited, but the underlying core contracts of Timeswap have been audited by CodeArena, Peckshield and Trust Security
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