- POL & Banker Joe Upgrades
- Farm Balances and Upcoming Double Reward Farms
- Cultivation Club
- Community Events & Activities
- Roadmap Update
- Community Growth: 125k strong!
- Average Daily Website Visits: 200k
- Over 1m Swaps over the last 2 weeks
- Token Holder Growth JOE: 33,000
- Protocol Owned Liquidity JOE-AVAX LP: 19%
During a period of choppy waters across the Cryptocurrency market, the Joe ship maintains its course, continuing to refine and consolidate its mission of providing users with a highly accessible and uniquely innovative DeFi experience. With a growing conclave of partnerships and a community wholly dedicated to the betterment of the Avalanche ecosystem and Trader Joe itself, the word of Joe is spreading faster than ever before. Read on to discover all the exciting developments taking place right now!
🏡Protocol Owned Liquidity ‘POL’
DeFi 2.0 is here and with it the trend of ‘owning your own liquidity’, or more commonly known as ‘Protocol Owned Liquidity (POL). For the Avalanche Ecosystem, the recent deployment of Olympus DAO has sparked a shift for many native protocols to start the process of ‘POL’.
What exactly is Protocol Owned Liquidity?
Well, instead of protocols handing out their own tokens as payment for their liquidity provisions, POL is essentially where a protocol acquires their own tokens to provide liquidity themselves, without relying on users pooling liquidity, e.g. why rent a house when you can buy it and own it outright? POL has a number of advantages, such as securing long-term liquidity, improving price stability, allowing emissions to be diverted elsewhere, and also, opening up new revenue streams for the protocol.
Where is Trader Joe on this POL Journey?
- Trader Joe acquired 9% of the JOE-AVAX LP in early August
- A further 2% captured utilizing AVAX from Banker Joe Reserves
- OTC deal with Wonderland DAO, capturing a further 8%
- In total, 19% of the JOE-AVAX LP is now owned by Trader Joe
Typically to acquire POL, platforms will often divert emissions away from yield farmers. But this is where the benefit of having a Lending Protocol starts to shine, as revenue accrued from Banker Joe can be utilized to increase POL, without the need to sacrifice yield for farmers. Moving forward, we will continue to utilize Banker Joe reserves in this way to help secure the long-term goals of the platform.
Banker Joe Update
Banker Joe markets recently underwent an upgrade which saw some new features added, enhancing attractiveness for lenders and borrowers. This includes the addition of separate Deposit/Borrow reward speeds, allowing the incentivization of different sides of the market and an updated interest rate model for stablecoins, thereby increasing the benefits of leveraging long positions.
The landscape of Trader Joe’s farms is ever-changing in order to accommodate the wealth of new opportunities the Avalanche ecosystem has to offer. Outlined below are the recent increases, re-balances, closures and planned deployments.
Farm Increases: 1X > 2X
- $CRA / $AVAX
- $CRAFT / $AVAX
Farm Balances + Closures
👨🌾Double Reward Farms
Defrost Finance is the platform behind the next generation stablecoin and provides remunerative investment opportunities. A fully fair launch, decentralized project, its aim is to change the world of finance for good.
$MELT / AVAX =Earn $JOE + $MELT
The community-owned, decentralized reserve currency comes to Trader Joe. Similar to xJOE, gOHM rebases automatically while you hold/farm the token.
$gOHM / AVAX =Earn $JOE + $gOHM
Olympus DAO | The Decentralized Reserve Currency
Investment Protection The fewer OHM staked, the higher APY OHM is minted and evenly distributed for staking rewards…
Kalao is an exciting NFT marketplace like no other, unlocking the full potential of the meta-verse experience, bringing NFTs and virtual reality to Avalanche.
Launching: 12th December (5pm UTC)
$KLO / $AVAX = Earn $JOE & $KLO
Kalao.io - Build the future of digital and virtual worlds
The Marketplace is powered by the fast and secure, low-fee Avalanche blockchain. We support both X-Chain and C-Chain…
Colony is a community-driven ecosystem accelerator that provides early-stage funding to Avalanche-built projects. Colony imbues traditional venture capital with a spirit of community through open governance and support.
To support the launch of Colony and the Double Reward farm, we will be hosting an AMA on the Trader Joe Discord on the 13th at 5pm UTC. Recording will be uploaded to YouTube.
Launching: 15th December
$CLY / $AVAX = Earn $JOE & $CLY
COLONY | Community-driven Avalanche ecosystem accelerator
Colony's vision is rethinking outmoded systems by imagining brand new ones in order to bring the structural integrity…
Platypus is an open, single-sided stableswap protocol that promises to deliver incredibly low slippage, high scalability and an overall better user experience.
To support the launch of Platypus and the Double Reward farm, we will be hosting an AMA on the Trader Joe Discord on the 14th at 2pm UTC. Recording will be uploaded to YouTube.
Launching: 16th December
$PTP / $AVAX = Earn $JOE & $PTP
Platypus - A Novel StableSwap: simple, flexible and scalable
Platypus invents a whole new AMM on Avalanche - Open liquidity single-sided AMM managing risk autonomously based on the…
🌿The Cultivation Club
With four community farms recently closed via a club vote, the CC has been busily selecting the next wave of promising projects for the coveted farm spots, recently approving $MEAD and $aWOOL.
🍻Asgard Dao: $MEAD (1X)
An in-game currency to be used in the upcoming P2E game ‘Midgard’, the CC saw the opportunity to align with a stellar community of committed Avalanche natives. Asgard DAO sweetened the alliance, offering $MEAD incentives alongside $JOE, contributing to yet another double rewards farm for the platform.
🐑Sheep Game: $aWOOL (0.5X)
A fork of the popular NFT-driven ‘Wolf Game’ on the Ethereum blockchain, ‘Sheep Game’ is a P2E concept on Avalanche in which sheep and wolves compete for $aWOOL. You can read more about the CC’s decision here.
Xmas Joe Games: Advent Calendar
Trader Joe’s 25-day festive extravaganza, supported by Trader Joe’s largest-ever monthly marketing budget, is underway. Each day the team will reveal unique GAs, events, and competitions, including collaborations with some of the biggest names on Avalanche.
Trader Joe’s community was treated to an exclusive live drawing session with the designer of Avalanche Party Animals, who created a bespoke Trader Joe character (viewable below). Stand by for more collaborations with APA over the festive period, with some incredible prizes.
Crabada + Joe Cracker Challenge
The now-closed design competition held on Crabada’s discord saw contestants design their dream cracker gift, with the community voting for the top submissions and a prize pot of $1000 to be split between the top 3 entrants.
Jump into the Crabada Discord to see all the entries: Link
X-Mas Emoji Contest
We asked our community to design a festive Trader Joe emoji for our discord server and as usual, they did not disappoint. Despite a fairly bearish submission from the most-voted-for entry by Evrenkasifi, our hearts were warmed by runner-up Deniz (pictured below) and bellies tickled by the now-infamous Dogeon courtesy of dogeon_retreat. Keep an eye on the #xmas-joe-games channel on discord for more creative, festive fun.
We have now given away our first 10 spots for the JOEPEGs whitelist! The community showed us that the anticipation for the platform’s first-ever NFT collection is reaching a fever pitch and we can’t wait to share with you the details of their imminent release. If you missed out this time around, never fear, there will be more opportunities to secure your spot in the coming weeks.
Quickfire Portfolio Joe, NFT GAs, design competitions, quizzes, and much more!
We have a roadmap update landing soon, which will outline the key focus areas for early 2022. But what are we focused on right now?
- NFT Storefront for the launch of JOEPEGs
- Analytics improvements
- CEX Listings
- A new DeFi primitive
- Tokenomics changes
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 vision is simple, build a DeFi platform like no other. A comprehensive, highly accessible, and uniquely innovative experience. A hub for DeFi primitives, under one roof.