Vector allows you to convert your PTP or JOE on our site to receive liquid-wrapped derivative tokens: xPTP or zJOE. You can then stake these on our site to earn rewards from our protocol revenue and VTX.
Starting on July 27th, 2022 our converter now routes intelligently to get you the best conversion rate. Instead of always minting our liquid wrapper tokens at a 1:1 ratio when converting, we now also buyback xPTP or zJOE from our liquidity pools on Trader Joe. This ensures you are getting the best conversion rate for your tokens.
The Smart Converter is utilized anytime the protocol would convert to make xPTP or zJOE:
Converting PTP or JOE
Compounding yield rewards from your LPs
Protocol revenue rewards for VTX stakers/lockers
Smart Converter Limits
The Smart Converter is programmed to make sure you always get at least 1 xPTP or zJOE for your PTP or JOE tokens. If your conversion is larger than the LP would support only a portion will be bought and the rest will be minted. If the ratio of the pool is greater than 0.95:1 than the Smart Converter will not be used.