Published on the 7th of November: Edition #1
- Community Farm Launches: $ICE, $TRACTOR and $APE-X
- Introducing ‘The Committee’: Safeguarding the community’s interests.
The Cultivation Club is Trader Joe’s brand new governance panel, a Community Club overseeing the selection and on-going management of the platform’s Community Farms. This initiative moves Trader Joe closer to becoming a fully decentralised and transparently operated ecosystem, as well as aiding in the cementation of the platform’s status as Avalanche’s number one liquidity provider.
This week the Cultivation Club has been busily sowing new seeds, electing to bring $ICE, $TRACTOR, and $APE-X into the fold. These are the first of many new farm spot allocations for smaller and newer projects on Avalanche, increasing the token options for users on the Trader Joe platform.
Community Farm Launches
The club nominated the token of recently relaunched Popsicle.Finance by an overwhelming majority, recognizing the excitement that continues to grow around Daniele Sesta’s burgeoning network of projects. The club believes this is an excellent opportunity to bring further liquidity to the Trader Joe platform and new users with it.
Popsicle Finance is a multichain yield optimization platform for Liquidity Providers, with the ultimate aim of becoming DeFi’s primary market maker, increasing market efficiency, and generating high yield for LPs.
“The Club saw the hype around the Dani ecosystem, and the volume seen around Time and Spell on Trader Joe. In order to allow TJ users to access all of the Dani ecosystem, we added possibly the most hyped project on Twitter currently” — Liquidwawa, Committee Panel
The club recognized that the community wanted to do more with their $TRACTOR, as well as incentivizing engagement with the token and increasing burn rate, with 1% of every transaction used to permanently remove $JOE from circulation, thus increasing its value.
“One of the biggest asks from the broader community was to increase buy pressure on the Joe token. When we saw a native project whose incentives were aligned with Joe holders, we felt strongly that it was a project to support. The more success Tractor has, the better it is for Joe holder in both fees to the platform, and Joe burns” — Liquidwawa, Committee Panel
The club’s inaugural spot allocation was awarded to APE-X, a native token with deflationary tokenomics not unlike $TRACTOR’s burn mechanism, which has received attention for its community-first approach. Only a few months old, APE-X presented the club with a perfect opportunity to test the metal of this experimental initiative.
“Trader Joe has historically been a tough place to access some of the more speculative assets in the ecosystem. By adding APE-X we are able to widen our coin selection, and support a native project with strong community engagement. Also, Ape follows Ape” — Liquidwawa, Committee Panel
Introducing… The Committee
The Cultivation Club is overseen by a committee of active community members who reserve the right to have the final say on farm allocation and its appending multiplier, so as to safeguard against manipulation of the Cultivation Club voting system. The committee does not render the Club’s selection process invalid, rather it ensures that the broader community’s interests are kept firmly in mind. As the cultivation club expands, so too will the committee, which will be made up exclusively of valued community members.
The Cultivation Club
When weighing potential candidates for spots, the club is responsible for the prudential selection of tokens that have the potential to graduate into strategic liquidity pools, generate substantial trading interest, increase the diversity of existing Trader Joe users, and lay the foundations for long term collaboration. If these criteria are not met, the Cultivation Club may revoke the farm spot to make way for other promising projects.
How to Join the Club?
To join this Club, you must be a Discord member and have the #MINI JOE rank unlocked (Level 5 in Discord). This is unlocked through Discord engagement, such as simply chatting to fellow members and engaging in community events.
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.