All data points referenced: up to 17th of October
With the successful launch of the Banker Joe lending platform, the Team’s attention now turns to finalising the strategy of Joe Rush as well as re-adjusting the more immediately focused Roadmap, we’ll be sharing news very soon — promise! The Trader Joe community continues to see rapid expansion evident across Dapp usage and social platforms, Trader Joe is well on the way to becoming a defining force in the DeFi market…
Are you on board for the journey, anon?
- $3.2billy TVL
- Banker Joe — $2.3bn Deposits
- Protocol Revenue (7d): $750k +17.5% (not including Banker Joe)
- Dapp Users (7d): 35k +6.5%
- Website Sessions (7d): 299k +11%
- Community fun: Merch, DeFit, Halloween Teasers
TVL eclipses the $3bn mark, with the current TVL split of $1bn Farming and $2.2bn Lending. As a thank you to the community, we have a little Twitter RT giveaway currently live, get involved for your chance to win a share of $1000!
Trader Joe currently has an FDV ~$1.07bn with an annualized protocol revenue that puts the P/S ratio at 4.17x (P/E 25x). On P/S terms, this ranks the protocol the best value play in the Dapps market.
Joseph Coin Good
The current market sentiment for $JOE is one of a ‘farm coin’ … translating to ‘no utility’. An incorrect and misplaced thesis. There is utility for the Token, in the form of sharing platform revenue. More importantly, now that Banker Joe has launched, new utility in the form of collateralization of the $JOE token is now a key focus for the Team. Collateralization of $xJOE and JLPs will be coming from Partners as well, eg ‘Degenbox’ … very soon.
Stack your $JOE tokens up, anon … NFA
A new revenue stream will also be opened up for xJOE holders in the coming weeks. First, Banker Joe is building up Reserves to protect the protocol against potential shortfall events. But, once sufficient Reserves are built up, we can then look to divert revenue to xJOE stakers.
Banker Joe (🎩,🔺)
The launch of Banker Joe was has been a great success, quickly surpassing Benqi with over $2Billy deposited within the first week. We greatly appreciate all the community’s feedback, the team worked round the clock to ensure the seamless user experience you’ve grown to love with Trader Joe.
Banker Joe will have new tokens added, conversations are already underway with close partners of the protocol.
Trainer Joe’s DeFit series is a new community enterprise created to encourage knowledge sharing and resilience in the space. This 5-part educational resource will kick off with Trainer Joe’s guide to lending, laying out everything you need to know, but were too afraid to ask. In conjunction, each article will be accompanied by a quiz, with the strongest respondents awarded ‘DeFit’ rank in discord. Feeling pumped….?
Take on the challenge, get DeFit: here
🎮 The Joe Games
Round 2 of the Joe Games, Banker Joe’s Sidekick Design Contest, has now concluded. ‘Cash Cow’ took the top spot, closely followed by ‘A.P. Morgan’ and ‘Jannie Jane’. We were blown away by the quality of our communities submissions, proving once again just how talented the TJ crew can be!
🎤 Joe TV
If you missed last week's Joe TV episode, make sure you catch up here. The Co-Founders talked about a range of topics, such as upcoming focuses, both short and long term for the project.
A community-led project to set up a merch store for Trader Joe … has now launched! Visit the store here for global delivery: Trader Joe Merch Store
Shoutout to community member: @Rugsy for spearheading this project
To clarify, this merch project is not the $HAT project
Trader Joe NFTs are in the pipeline and are currently being commissioned. We’ll be sharing news soon. In the meantime, keep an eye out for possible promotional giveaways where we award NFT allocations.
The nights are growing longer and a chill lingers in the air. Halloween season is upon us! Trick or treat yourself to a ‘A Nightmare on Joe Street’, round 3 of the Joe games, where entrants will compete to ‘spookify’ Trader Joe. More information to be announced shortly… that'll give ’em pumpkin to talk about.
Roadmap & Joe Rush
The Team is meeting on Monday to discuss the immediate roadmap details, we’ll share the outcome and the resulting Roadmap plans, as soon as possible.
Trader Joe is preparing his Ski’s …. The strategy is being tweaked, numbers are being crunched. Details will come soon.
And just like that, a new era begins. We started with a simple, yet powerful mission, to build a one-stop decentralized trading platform. We can now proudly say that our continuous efforts to innovate at the frontier of DeFi are paying off, bringing you more integrations than ever before.
This is only the beginning friends. It’s time to step back, see the bigger picture, and swap those paper hands for diamonds 💎
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.