Cultivation Club Circular
Published on the 5th of December: Edition #4
TLDR
- Open: $MEAD, $H20, $ALPHA
- Closed: $ELK, $HUSKY, $TEDDY, $TRACTOR
Introduction
Avalanche has seen a wellspring of new entrants burst onto the scene, and the CC is always on hand to offer partnerships and support to the most promising, innovative, and engaging protocols.
🌿Community Farm Launches
1. Asgard Dao 🍻
CC Vote results:
- For: 75%
- Against / Undecided: 25%
Farm Launched: $MEAD (1X)
$MEAD came to the attention of the CC organically, requested by club members who had noticed Asgard’s unique spirit, with discord push-up contests and even viking chest building. Club members were encouraged by the Asgard team’s dedication to their community, as well as their depth of vision for the P2E ecosystem, Midgard.
After a successful vote, $MEAD immediately went from strength to strength, graduating to a 1X double rewards farm after just one day. Now it is one of the most liquid and active farms in the farmers market, a testament to the Asgardian’s loyal support of the project and the keen eye of the CC. $MEAD is arguably the clearest case of the Cultivation Club driving the success of a young protocol, an event that will no doubt spur on their next launch, the $VOLT token.
“$Mead has been hugely successful in not only proving the Asgard team’s abilities to all shareholders but also the huge popularity within our community. $Mead has given the Asgard team great insight as to the room for our Brand to grow in, and in planning the Vision of the Future” — The Aesir
Thor’s Mead ($MEAD) is Asgard Dao’s self-proclaimed community ‘memecoin’, however, the deflationary token also comes with utility in Midgard, the upcoming P2E realm. $MEAD can be used to mint in-game NFTs and users will be required to hold 1000 $MEAD (approximately $7.5 at time of writing) in order to acquire Midgard’s primary token, $VOLT.
🍻 $MEAD Stats to date:
- Farm Deposit: 115 per day
- Daily buy volume 10x increase since Farm launch
- 7x Increase to $MEAD Token adds to Wallet
2. Defrost Finance 🧊
CC Vote results:
- For: 94%
- Against / Undecided: 6%
Farm Launched: $H20 (0.5X)
The Cultivation Club’s decisive vote saw H20 awarded a community farm spot with confidence. Defrost Finance has historically maintained a sturdy alliance with Trader Joe since its launch, increasing JLP & xJOE utility alongside airdrops for xJOE holders and the provision of a high APR, double rewards farm on the platform. One club member commented that the protocol had “been very smart around the melt rewards vesting”, a common sentiment highlighting the positivity felt around the solidity of Defrost Finance’s protocol and teams capabilities. infrastructure and cross-chain capabilities.
“A DEX farm for H20 is both necessary and the first step toward our future goals. Following what we see as a very successful launch, our priorities are now running on two tracks — increasing the collateral that can be used to mint H2O and grow our userbase, while also looking for new use cases for H2O itself. This is precisely where the farm will fit in, creating a market for H2O and a destination for it, so to speak. Obviously, we are also looking forward to getting H2O on lending platforms and exchanges down the line” Michele, CEO of Defrost Finance.
Billed as Avalanche’s first native stable-coin, H20 is a key element in Defrost Finance’s synergistic approach to LPs. Investors can mint $H2O and earn $MELT rewards simultaneously before staking the tokens for further yield. H20 will be distributed amongst stakers relative to their share of the sMELT pool via ‘stability fees’, the percentage of which is adjusted on a monthly basis depending on the liquidation rewards accumulated in the previous month.
Defrost Finance Website: Link
3. Alpha Homora 🔼
CC Vote results:
- For: 76%
- Against / Undecided: 24%
Farm Launched: $ALPHA.e (0.5X)
The Cultivation Club recognized Alpha Finance’s intention to champion Avalanche, coming from Ethereum where they have enjoyed success. Their expansive, cross-chain vision, innovative initiatives, and smart marketing encompass the kind of ‘blue chip’ project that Trader Joe’s community is keen to support. Hesitancy in the vote was mostly down to the fact that $ALPHA has only recently bridged to Avalanche, with concerns that the token is not a mature enough liquidity source to warrant a community farm allocation. Nevertheless, the CC voted to enstate, buoyed by the legitimacy of their cross-chain exploits thus far.
Earlier this year, Alpha Finance Lab launched the leverage yield farming and lending platform, Alpha Homora v2, followed by AlphaX, an on-chain leverage trading platform on Avalanche. The $ALPHA token has a strong use case, with users earning fees from the entire multi-chain ecosystem when they stake, as well as automatically compounded rewards, similar to xJOE.
New Appointments
The committee voted to promote two cultivators, Sir Devilk and xFlosions, to the top rank, helping to oversee farm and multiplier allocations. Both were selected due to their outstanding commitment to the Trader Joe community and the cultivation club. Sir Devilk is somewhat of a Trader Joe mascot, with a sunny disposition and an ever-bullish love for his $JOE bags. xFlosions has also been a visible presence, always happy to assist fellow members and give their passionately cultured perspective on all-things Avalanche. This is a good reminder that engagement in Trader Joe’s community will always be recognized and rewarded. To join the Cultivation Club you must be a Discord member and have the #MINI JOE rank unlocked (Level 5 in Discord).
👨🌾 Would your protocol benefit from a Farm?
If you’re developing a budding protocol Look no further, you can apply for a Community Farm below, simply fill out the application form and our Cultivation Club will review and get back to you within 1–2 weeks.
About the Cultivation Club
The Cultivation Club is Trader Joe’s new governance panel, a Community Club overseeing the selection and ongoing management of the platform’s Community Farms. This initiative moves Trader Joe closer to becoming a fully decentralized and transparently operated ecosystem, as well as aiding in the cementation of the platform’s status as Avalanche’s number one liquidity provider.
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. Maximize your yield generating activities under one fully integrated roof, providing you with a unique, innovative and highly accessible DeFi experience.
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