jUSDC

A look at the first variant in the Jaypeggers ecosystem

Why USDC?

The original JAY token model has proven its ability to generate yield. Users have shown demand by storing their ETH in JAY and locking liquidity in the pool. Doing so enables users to earn yield on their ETH from transactions on Jaypeggers. This is great, however it still exposes the user to potential downside on ETH/USD. This is where jUSDC comes into play!

How it Works

jUSDC is similar to JAY, but it is backed by USDC instead of ETH. Like JAY, jUSDC can be purchased (minted) and sold (burned) in the Jaypeggers app, but it is subject to a slightly different fee structure.

When minting/burning jUSDC via the app, users are interacting directly with the contract. These transactions are subject to a 10% fee that is broken down as follows:

• 6% added to jUSDC backing

• 2% distributed to LP stakers

• 1% as team revenue

• 1% to a wallet that will periodically sell jUSDC to add to JAY backing

Similar to JAY, the 6% fee added to jUSDC backing ensures that the value of 1 jUSDC token only increases! When tokens are minted, the total backing increases at a greater rate than that of the supply. When tokens are burned, the backing per token increases while the supply decreases.

Additionally, the 2% fee to LP stakers is identical to that of JAY! Users can provide jUSDC/ETH to the Uniswap LP and receive an extra cut of fees from Jaypeggers! This incentivizes liquidity in the LP to enable activity in the zero-tax pool which will ultimately create the arbitrage opportunities that JAY holders know and love.

Trade $jUSDC from our app: https://app.jaypeggers.com/

$jUSDC Contract Address: 0xca9f9671765F8D1A7e19ae2639E01FFF730f0D9B