31st October Bulletin Board
All data accurate as at 31st of October
Introduction
The latest edition of the bulletin board, tightly packed updates from the Trader Joe Team. Providing you with an overview of recent activities with sneak alpha previews of what lies ahead.
TLDR
- Total Value Locked (TVL): $3.4b
- Protocol Revenue (30d): $3.37m +21.9%
- Website Sessions (7d): 615k +35%
- $TRACTOR launch, a community token that burns $JOE 🔥
- Community Growth: 75k members +12% WoW
- Cultivation Club & Community Spotlights
Fundamentals
Trader Joe hit a new daily high in protocol revenue generation: $213k (26th of October). Protocol revenue both for the 7d and 30d timeframes trending upwards +51% & +26%. (This does not include Banker Joe Revenue).
Avalanche C-Chain Activity continues to highlight bullish growth for the ecosystem. A continued strong upward trend of TX Counts & Daily Active Addresses highlights this accelerated Growth. This ecosystem growth correlates to activity on the Trader Joe platform, Website Visits showing a similar UpOnly trend. Joevember is coming.
$JOE Token 💎
- The team remain strategically focused on delivering utility & value for $JOE holders through the remainder of the year.
- xJOE buybacks have now been scheduled for daily frequency, rather than every two days, Volly our Intern may start to comm this out regularly.
- The launch of $TRACTOR will add a deflationary effect to the $JOE token, every transaction from $TRACTOR (buy + sell) will take a 2% fee which is used to then market buy and burn $JOE 🔥
- $JOE token emission schedule reduces by ~26% on the 3rd of November.
- Banker Joe xJOE revenue stream will open up for xJOE holders, we hope to share news on this implementation soon.
- Utility & Token Collateralisation is coming. A specific shoutout to our new partners Growth DeFi who are launching on Avalanche, this week. You will be able to leverage your xJOE stack at x3.
Joe Rush
Phase 1: Currently active
- MIM Lending & Borrowing (AVAX + JOE rewards (30 days))
- JOE / AVAX (33 days)
- SPELL / AVAX (8 days left)
- YAK / AVAX (8 days left)
- XAVA / AVAX (8 days left)
For more Joe Rush Details: Read more here
Phase 2
- Planned for the 9th of November
- News shared this coming week ahead of the deployment
🌿Cultivation Club
As part of a progressive move towards decentralization & governance, Trader Joe has launched the Cultivation Club. This Community run initiative will be tasked with managing the allocation and maintenance of Community Farm spots.
The purpose of the Cultivation Club will be to support the foundations of early-stage growth for promising projects native to Avalanche.
Cultivation Club: First Farm! 🦍
We are excited to announce the first Cultivation Club motion has been passed and a new farm has been launched: $APEX/$AVAX is now live on the farm.
The Trader Joe Team interviewed the clubs committee panel regarding their selection of the Ape-x farm and they had this to say: “Ape follow ape”
This, combined with the fact Ape-x has held a large pool of liquidity on the platform and continually engages the community, made for a compelling first choice from the Cultivation Club.
Ape-X swiftly followed up with a fantastic launch video, viewable here
🚜 Tractor Joe
Rev up your engine, $TRACTOR is here 🔥
This is the first-ever Trader Joe community token to buy back and burn $JOE, with 2% of every transaction (buy + sell) used to permanently remove some $JOE from circulation, raising its value in the process.
What do Tractors love to do? Farm of course…
New Farm opened: $TRACTOR / $AVAX x0.5
Trader Joe is supporting Tractor Joe with a Twitter Meme Contest, check out the Tweet to enter here: Link to Tweet
Community
🎃 Halloween
Our members and followers on social media have been trick or treating themselves to a host of spooktacular community activities and competitions. Round 3 of The Joe Game’s saw members on the Discord server competing for the top spot in the Zombie Joe design contest. Winner announced tomorrow!
Other Halloween activities:
- Trader Joe Nightmare Contest: Tweet Here
- Halloween JOEs (NFTs): Collection Here
- Coin98 Halloween Airdrop: Tweet Here
Winners for the above Halloween activities will be announced tomorrow
❤ Discord Community
As the Trader Joe Discord community continues to grow to nearly 8k strong, we have made some subtle adjustments to the server. The incorporation of the Tipbot.cc for $JOE, new roles to unlock through leveling, more channels to chat in, and a greater focus on building a more tightly knitted community spirit. We’ll be looking at ways to integrate the newly founded Cultivation Club as well as launching more Discord events.
Trainer Joe: Bootcamp DeFit
Part 2 of Trainer Joe’s DeFit encouraged users to get active in engaging with the management and mitigation of risk on Lending Protocols like Banker Joe. Community members can take part in each article’s accompanying quiz and receive the coveted DeFit rank on our discord server. Article below
Shoutout to our fantastic community, a couple of spotlights here:
Vegan Cheese Quesadilla for building this LP Price Action tracking tool, view real-time buys & sells, wallet tagging (for 🐳 watching), bookmarking oh and also, charts incoming. Check out the website here: https://chrtr.io/
Deniz is a talented 3d model artist, who has commissioned a number of pieces for Trader Joe…Please admire his terrifyingly accurate representation of ‘Zombie Trader Joe’ … how real does that brain look? 🧠🧠
Build Guild (Discord)
A new networking Discord server, opened by Trader Joe co-founder Cryptofish, the AVAX Build Guild aims to foster a collaborative community spirit amongst aspiring web3 developers, PMs, marketers, biz devs, and artists on the Avalanche blockchain. If you’re part of an Avalanche project, join the server and state your affiliation to receive an instant promotion.
Build Guild: Join the Discord here
Banker Joe, Lending Protocols and CREAM …
What happened to C.R.E.A.M?
On the 27th of October, the C.R.E.A.M Protocol was subject to a highly sophisticated Flash Loan Attack, with the exploit aimed at a vulnerability supposedly on CREAM’s PriceOracle. The Hack raised a sum of over $100m. On the immediate news, the Team closed the Borrowing market (to prevent Flash Loans) on Banker Joe, as a precaution of safety for all users engaged in Lending on Banker Joe. Once the attack vector was identified and auditors had been engaged, the markets were swiftly re-opened that same evening.
Why fork C.R.E.A.M?
The burning question from the community, the C.R.E.A.M protocol has compelling features, like Collateral Caps and TripeSlopeInterest rate models. These offer greater flexibility for risk and liquidity management. What we have not forked is the Price Oracle.
What makes Banker Joe different from C.R.E.A.M?
Banker Joe will only list an asset if the price data feed can be supplied by the Chainlink Price Oracle. Chainlink Oracle provides true decentralized and robust data feeds, by aggregating data from multiple exchange sources, greatly reducing the ability of hackers to manipulate prices.
Summary
If you haven't seen our Q4 roadmap, check out the below, there’s a lot lined up for ol’Trader Joe…Especially those xJOE 💎hands.
About Trader Joe
Trader Joe is a one-stop-shop decentralized trading platform native to the Avalanche blockchain. Trader Joe builds fast, securely and aims to serve the community at the frontier of DeFi. The long-term vision of the team is to make Trader Joe an R&D-focused platform for new DeFi primitives not yet seen on any blockchain.
