Bulletin Board: May 31st
Edition: #14
A Month in the Joe-verse…
You can’t help but be impressed when you find one of those local shops that’ve been around for generations. The ones that have stuck around long enough to get a plaque to commemorate their countless decades of operation. It’s amazing. Think about all the tough times these places must have endured, yet they survived it all. How?
Well, you can boil it down to two factors — the resilience of the team and the support of the community. When the goings get tough, you need a team that sees success as the only path forward. You need a community that is ready to rally around their favorite stop. These are the places that become the cornerstones of a neighborhood.
Starting to sound familiar?
We all know that time in crypto moves faster than in the rest of the world. A week in crypto can feel like a year in the real world… so by that math, Trader Joe has been around for 60+ years in the crypto space. How do you think we managed to pull that off?
Well, you already know the answer…
The resilience of our team and the support of our community — are simply unmatched. The past month has shaken not only the ecosystem but the industry collectively. How did we react? We expanded our team. We launched an NFT marketplace. We overhauled tokenomics. We strengthened our community. We leveled up EVERYTHING within our operation.
Our team knows only one path forward — to keep building. Regardless of the market conditions, we’ve continued on our pursuit to become a true cornerstone of the Avalanche ecosystem. We’ve become a trusted platform as both a DEX and an NFT marketplace, and we’re not stopping there. We’ll continue to innovate and evolve to ensure we’ve always got the best shop in town. So if you thought the last 60 years of Joe have been exciting, just wait till you see what’s coming…
Now that we’re a bit inspired about what Joe has to look forward to, let’s make sure we’re caught up on where we’ve been. Here are some updates from our last month.
Say hello to Joepegs…
The wait is over. Our very own NFT marketplace has finally arrived: Joepegs.
Of course, we didn’t launch any ordinary copy-paste NFT shop either. We’re bringing the very best tools available to all creators, collectors, and communities with this platform. We’re committed to seeing the Avalanche NFT culture thrive, so we’re building it a new home. Although still in ‘beta’, the development pipeline is overflowing with new upgrades getting ready to ship …
- Wen NFT Launchpad?
- Wen custom indexer?
- … June is a nice month ☀
With these two additions alone, the Joepegs experience will be making a massive leap forward. New projects will soon be able to launch any way they see fit, and users will be getting a huge quality-of-life improvement.
- Dutch auctions, Flat mints, & Ascending auctions — Yep, we’ve got that.
- Batch reveals & whitelist capabilities — We’ve got that too.
- A custom indexer that will turn our backend into a well-oiled machine (a.k.a. blazingly fast loading speeds + new searching & filtering features + a brand-new user dashboard) — yep.
…and we’ve got more features coming.
$JOE Token Updates
Long-gone are the days where people could “claim” that $JOE has no utility.
With Joe Tokenomics V2, there has actually never before been a DEX token with such an abundance of utility. For example…
- Stake as sJOE to earn non-dilutive yield in $USDC
- Stake in rJOE to gain access to Rocket Joe launches
- Stake in veJOE to boost certain farming yields
- Join the veJOE Wars by getting involved with one of our partners (more on that later…)
- Use JOE as Collateral on Yeti Finance, More Money Finance, or other partners
In addition to all of these options, we have also taken steps to reduce JOE emissions by over 40% across our farms and lending options. Although we’d love to support fellow gud projects, we have to take a proactive approach to how we allocate our valuable $JOE tokens. With the current market backdrop and DEX V2 in the near future, these reduced $JOE emissions will greatly benefit the project in the future.
What is DEX V2?
… A new DeFi Innovation. Concentrated Liquidity, Single Fee Structure.
More news soon.
The Battle Rages On: veJoe Updates
The veJOE Wars are getting wild. We now have 5 official entrants who have already made it to the battlefield, and with a 6th on the way, you have a huge plethora of new JOE staking and LP farming strategies at your fingertips. Not to mention that with each new entrant, more and more JOE gets blackholed from the supply. Our partners have already locked up over 15.5 million $JOE (~5% of circ supply). You can track these stats here or here.
For our farmer friends out there (big or small), things are looking better than ever. The fields are ripe with opportunities to boost your farming harvest.
If LP’s aren’t your thing, but $JOE is… there are still some juicy yields to be had. Zap your JOE into our partner protocols and start staking to get access to these APR’s.
- Steak Hut Finance: ~220% APR
- Vector Finance: ~107% APR
- Yield Yak: ~60% APR
- Beefy Finance: ~26.9% APR
With the upcoming launch of Farmer Frank, you’ll soon be able to spend $JOE to mint NFT’s of varying tiers. These NFT’s will then pay you with perpetual income of $JOE. For more details on our JOE War partners, check out this thread.
It’s becoming abundantly clear that Tokenomics V2 is a major step forward for both our DEX and the ecosystem as a whole. We’ve even heard some whispers that even PancakeSwap is adopting a similar model… hmm, probably nothing.
rJOE Launch Updates
If you’ve got any spare JOE lying around, maybe it's time to consider staking to build up a nice bag of rJOE. Rocket Joe season is back on! The team has multiple launch partners lined up for our Rocket Joe program. Just a reminder of why Rocket Joe is so great:
- Innovative primitive, enhancing the standard LBP Copper Auctions Model
- UX done the Trader Joe way, deposit AVAX and you’re away
- Fair launch friendly, facilitates organic price discovery and suppresses bad-actor-bots from sniping
- Projects can kickstart their liquidity and bootstrap a sustainable token economy for the long run
So who’s launching next…
WyndBlast… a play-to-earn multiplayer cooperative game. The game takes place in the Chronica Sola Verse, a mystical land where players can take control of Wynds (dragons), recruit Riders, forge equipment, fight enemies (PVE) and compete with one another (PVP).
So in essence… the blockchain equivalent of “How to Train Your Dragon”. Their 9000 NFT collection has already sold out, but of course, you can always hit the Joepegs marketplace to find a Wynd or rider of your own.
The game features a dual-token system of $CHRO and $WAMS (Westia Arch Magic Stones), the latter of which you can only earn through in-game activities. Both tokens are needed for many activities such as breeding, training, and forging.
Rocket Joe deposits are open now! You have until June 1st @4PM UTC to join the launch. Daily questing begins on June 2nd which will allow you to start earning tokens and brings utility to the NFT’s and $CHRO.
Access the Launch event 👇
For a more detailed breakdown of gameplay, Tokenomics, and more, check out the Rocket Joe Launch article below.
Castle Crush
Wildlife Studios is one of the largest mobile gaming developers in the world. With over 70+ games under their tool belt, they’re now taking their first foray into the world of blockchain gaming — Castle Crush… and they’re doing it right here with Trader Joe and Avalanche.
That’s a pretty big deal.
Trader Joe 🤝 Mobile-Gaming 🤝 AVAX Subnets 🤝 Web2 Gaming 🤝 Web3 Gaming
Dubbed the largest real-time multiplayer strategy game on the blockchain, Castle Crush is a huge project. This fully mobile experience lets users battle it out in duels with their deck of powerful spells and legendary monsters. What truly sets this project apart though is that its already proven itself as a great Web2 game with over 50 million downloads and 1.5 million active players across platforms.
The Web3 version will be cross-compatible with web2, so you can play games with a deck of both NFT cards and regular in-game cards. If you play this game and have leveled a traditional card up to its max level, you can then upgrade your card through “Ascension”. This will turn it into an NFT. The game will already have a built-in wallet created for you to simplify the onboarding process for the (potentially) millions of players. That’s a TON of potential new web3 users who might get their first taste of the crypto world. In order to trade tokens or NFT’s the user will need to create and connect another wallet though.
Speaking of tokens, this game is moving away from the traditional two-token system of a governance and utility token utilized in most games. Castle Crush will launch with a solo token economy ($Ascension Crystals) with a capped constant emission rate on a daily basis. These emissions will become increasingly scarce amongst players as more and more NFT’s must split the same constant emissions share. This could potentially be a major factor in the attempt to grow positive price action.
Castle Crush is set to launch on its own subnet on Avalanche, once again proving that Avalanche tech will be bringing a lot of eyes in the coming years.
Castle Crush Timelines
- The whitelistNFT mint will take place on June 6th
- Public mint will be on June 13th.
Joepegs Marketplace has deployed support for ERC-1155 Contracts and will be verifying the Castle Crush collection to support their Web 3 Ambitions.
Protocol News
- Husky AVAX Partnership • Teaming up to bring new Art, Music and Film creators to Joepegs. Fostering talent and connecting mainstream and web3 communities.
- Exchange Listing • $JOE is listed on Bitrue • Announcement: https://twitter.com/BitrueOfficial/status/1518783108707123200
- $JOE and $AVAX added to Crypto.com DeFi Wallet: https://twitter.com/cryptocom/status/1522528792270741504
- Lark Davis recently featured $JOE on his Wealth Mastery newsletter • Check out the article: https://thewealthmastery.io/trader-joe-1-defi-app-on-avalanche/
- Elk Finance Partnership kicks off with a double rewards farm on Elk Finance: https://twitter.com/elk_finance/status/1522352123098415105
- DeFILlamma adds Trader Joe yield tracking for LP pools: https://twitter.com/DefiLlama/status/1523041587126685698
- FutureSwap JOE trading competition: https://twitter.com/futureswapx/status/1529160533818998784
Interesting Threads
- Analysis of Trader Joe vs. AMM’s — Trader Wawa
- Deep Dive into Emissions — Sindermann
- Emissions, Rewards and Revenue — Shivsakhuja
- AVAX Subnets — Thor Hartvigsen
- Scaling Blockchains — Emin Gün Sirer
- Banking with Trader Joe — Joe
- DEX Explained — Joe
About Trader Joe
Trader Joe is a one-stop-shop decentralized trading platform native to the Avalanche blockchain. Trader Joe builds fast, and 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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