Jetfuel Project Review: A Fair Launch Yield Aggregator & Farming Protocol

Jetfuel, a new yield optimizer, is now LIVE on the BSC. Check out an overview of their Deflationary Yield Farming Ecosystem and start earning $FUEL today!

By
Goon Trades
on
December 5, 2020
Category:
Project Insight

What Is Jetfuel?

Jetfuel is a yield aggregator set to launch on the Binance Smart Chain (BSC); the team plans to expand ideas from proven farms such as Fry.World, Beefy.Finance and Yearn.Finance. The Jet Fuel team plans to release their tokens in two stages to ensure a fair launch. Those unfamiliar with yield optimizers/aggregators, check out the Beefy Finance Project Review, which goes into more depth.


Key Features

  • Fair launch & community-based yield aggregator

  • High APY FUEL farming coupled with optimized Vaults

  • Fuel buybacks resulting in buy-side pressure

  • JETFUEL Accelerator and Grant to bootstrap new projects


Yield Farming

On launch, users will be able to earn FUEL through “pumping from the Fuel Depot”. Stage 1 will occur first, coined as the “fast start” phase, which lasts for about four weeks, or precisely 864,000 blocks. Emissions in Phase 1 will start at 1694.82 FUEL per day, and it will decrease by 2.5% daily until the reward is at 797.04 FUEL per day.

The idea behind Phase 1’s rapid emissions is that it rewards early adopters of the project who help bootstrap liquidity. About 36,073 FUEL will be “pumped” to farmers during this stage (28% of total supply).

At the end of Phase 1, emissions will be reduced to a more “normal” rate. On the inception of Phase 2, 731.98 FUEL will be pumped per day for the first month. In Phase 2 the emission rate is only reduced about every month (864,000 blocks). Phase 2 will continue for about six months until the total supply of 126,000 FUEL is distributed. Phase 2 will distribute 480.35 Fuel daily during the final month of emissions until the max supply is reached.


The current pool allocation can be found below:

Fair Launch

Fuel has placed a substantial aspect of their project on ensuring a fair launch. All tokens will be distributed through farming; FUEL ensures users that there is no “pre-farming, no pre-mint, and no hidden back doors.” The project launches today, and all users who provide liquidity will begin earning FUEL from the Fuel Depot. The team has also integrated a governance token, JET, to shift power to the community.

Tokenomics


Jet Fuels goal of a fair launch becomes very apparent when viewing the token allocation. Over 97.5% of FUEL tokens are equally distributed to users who bootstrap liquidity, prioritizing the early adopters. This model directly puts the most power to the community members who prioritize this project. 

Another critical aspect of the FUEL tokenomics is that a 2% transfer fee is incurred on every transaction. Half is burnt, making FUEL a deflationary token once emissions are completed, in about six months. The remaining 1% is sent to The Hanger which is distributed to holders of JET, the governance token.


Governance

Users who stake their FUEL will be rewarded in Jetfuel’s native JET token, which is used in its governance system. Similar to most De-Fi projects, Jetfuel will allows users to vote on proposals. Users who have more holding in the governance token will hold more power when voting on proposals. To vote, users must move their JET into the governance platform to be included in the snapshot, which they can then remove once the snapshot is taken.


Holders of JET will receive all FUEL inside of the JET Hanger (1% of all FUEL transactions) on top of a standalone farming pool. I imagine this farming pool will resemble those of CAKE and DRUGS for those who are familiar.


Hold Your FUEL, We Haven’t Even Touched on Vaults Yet

Following the suite of most yield aggregators, Jetfuel uses a vault system to automate user yield farming. Vaults are smart contracts capable of using assets as liquidity, providing assets as collateral for others, managing collateral to reduce odds of liquidation, and using assets to generate a yield and compound profits.


Here is a quick example of the first BUSD/BNB Cake Vault:

1. User deposits BUSD/BNB FLIP tokens into the JETFUEL Vault and receives flyCake-LP tokens.

2. The smart contract deposits the flip tokens into the Cake BUSD/BNB Farm

3. Every 4 hours, the contract harvests the returns generated. 

4. 42% of the cake is sold for BNB 

5. 42% of the cake is sold for BUSD

6. 84% of the harvest is turned into more BUSD/BNB LP and redeposited into the farm, compounding the users’ LP tokens. 

7. 14% of the cake is used to market buy FUEL and redistributed to JET holders 

8. 2% is used for maintenance and gas costs.


This system is pretty traditional when it comes to yield optimizers, but there are a few things the Jetfuel team has improved . Vaults on Jetfuel will compound every four hours, ensuring maximum returns. For users who think six compounds a day are not enough, there is a “Let’s Fly” button. This button allows users to execute the harvest whenever they want, but trust me; six is plenty enough. 

Some key figures to understand regarding the vault is that 2% is automatically removed to pay for maintenance and gas costs the vaults incur; on top of this there is a .5% service fee upon withdrawal. An exciting aspect of the vaults is that it will market buy a portion of harvests into FUEL; this allows users to obtain higher yields and creates perpetual buy-side pressure on the token.


Road Map

Jetfuel plans on hitting the BSC running – or flying – whichever you prefer. While their roadmap doesn’t have official dates, it is jam-packed with releases to drive innovation in their project.

The following items outline Jetfuels current roadmap:

1. Release 

2. Farming 

3. NFT Release to Original Members 

4. Staking 

5. Vaults 

6. JETS Governance 

7. Introduce additional staking coins 

8. JETFUEL Accelerator & Grant Program 

9. JETFUEL on Ethereum

Design Contest

The JetFuel team is currently holding a $285 design contest with multiple entries. Users who submit creative NFT's, sticker pack designs or memes will be eligible to win FUEL. The final date for submissions is 12/30/2020 10:00 PM UTC.

The rewards will be distributed in FUEL as follows:

  1. $100 to the Top NFT Design
  2. $100 to to the Sticker winner. Top winner will create 5 stickers
  3. $75 Prize Pool to the Top Memers

$50 to the Top Memer

$25 to 2nd place

$10 to 3rd place

To enter just post your designs and memes to the telegram or on twitter! Make sure you tag @jetfuelfinance if you post on Twitter and use the $fuel tag so the team and community can see them.

The original post with all these details can be found here.


Final Thoughts

It is apparent the Jetfuel.Finance team has been analyzing the most successful yield aggregators and farming projects on both the BSC and Ethereum network. The team has combined their own twist to leading projects such as YFI, BIFI, FRY, and even CAKE. With a large emphasis on community, implementing a fair launch, Jetfuel looks to take the BSC by storm.

The project allows users to benefit from their vault systems; they have also introduced their unique tokenomics system. The Tokenomics of FUEL ensures that initial liquidity providers to the project benefit from their early contribution. While FUEL emissions start rather quickly, the Jetfuel team was sure to cap the max supply and implement a deflationary burn. Not only does the project allow users to benefit from their. Of course, on top of FUEL, the project has a governance token JET, which also earns rewards. 

Overall the Jetfuel team is attempting to set itself apart from all other yield aggregators. Jetfuel is only just launching on the BSC and already bringing tons of innovation to the space. I am excited to see what the future holds for the project and community.

Jetfuel Dashboard


It is still crucial that individuals make financial decisions based on their behalf or consult a professional financial advisor at the end of the day.


Medium


Twitter


Telegram


Website



Disclaimer: The team at Jetfuel.Finance has funded the costs of this article.


Tags:
No items found.
Goon Trades

Greg (GoonTrades) is BSC News' Chief Editor and is also a writer for the team. Currently enrolled as an economics major, he finds himself as a cryptocurrency researcher, writer, and technical trader.