On 16th of August 2022 at 1:00 PM UTC Crypto Talkz hosted AMA with Trader Joe
🌟Mr. Blue – Marketing Head of “Trader Joe” shared us the Details about ‘ Trader Joe ‘ and it’s Unique features… 🌟
Host : 👋Hello Chat , Welcome to another exclusive Crypto Talkz AMA❤️
Today we are also very pleased to have the Marketing Lead of Trader JOE with us to talk about their current development and progress! Hello @BlueClarity 🙂
Blue : thanks for having me
Host : Welcome here.It’s a pleasure to have you here, thanks for joining us 🙂
Before we proceed, please introduce yourself to our community @BlueClarity 🙂
Blue : Sure, i’m Blue the Marketing & Community Lead for Trader Joe
Host : A great start!!So, without making a delay…Let’s start our AMA with basic Introduction Segment 🙂
Could you please give a brief introduction to Trader JOE?
Trader Joe is a one-stop-shop decentralized trading platform native to the Avalanche blockchain. Trader Joe is the #1 Dapp on Avalanche based on users and trading volume. The mission of Trader Joe is to make DeFi accessible for everyone and we’ve done that by building a platform that is unlike any other in DeFi.
Wow! That’s impressive! Well i guess everyone loves DEFI! 😁
Tell us, What mature products does JOE have at present?
The Trader Joe platform offers users a true one-stop-shop experience, users can:
Trade: Fast, secure, and cheap swaps
Farm: High APRs and big Farms!
Stake: Use the JOE Token to unlock staking rewards, such as Stablecoins
Lend & Borrow: Visit Banker Joe to deposit + borrow against your assets
Launch: Visit Rocket Joe and participate in the launch of newly issued tokens
Shop: Visit the Joepegs NFT Marketplace to buy and sell digital assets
What are the highlights or innovations of JOE compared to other DEXs?
Blue (will not DM you):
JOE Started as a DEX back in July 2021, over the past year we’ve built new products to expand the platform to be more of a multi-functional DeFi platform that is now the leading native Dapp on Avalanche. Every product is integrated cleanly into the dApp so users have a seamless experience.
Our research Team are always looking to push innovation with our products, a notable success in this area is our sJOE product, where users stake JOE tokens into sJOE and they receive their share of trading fees accrued by the platform paid out in USDC. This is a Real Yield product with an organic and non-dilutive reward.
To date we’ve paid out over $35m to sJOE Stakers
Other smaller touches on our platform help the experience really stand out amongst competitors. There is no ‘Launch App’ button when a user lands on the platform, there are candlestick charts when swapping tokens, and we’ve gamified yield farming by adding sounds when harvesting. Small touches like this help to increase immersion and deliver a unique and great customer experience that helps to reduce turnover.
Great! These are some of the great features! What can we expect more on the number #1 Dapp on Avalanche! 🚀🚀🚀
What does JOE’s tokenomics look like?
JOE is a governance token that also rewards its holders with a share of exchange revenues. The token distribution follows a fixed supply (500m), decaying emission model that runs up to the start of 2024. So far over 80% of all JOE Tokens have been minted.
We distribute 50% of all tokens to Liquidity Providers and that is done to incentivize users to provide liquidity. The remaining 50% are split between the Treasury (used to improve the JOE Platform/Ecosystem) the Team (Pay for operations/devs) and lastly strategic partners.
Daily emissions at the moment: 55k JOE Tokens sent to Farms (about $20k per day which is very low compared to many other DEX Tokens).
Noted! And lastly, What is the next focus for Trader JOE?
The next major focus for JOE is the release of our new AMM protocol, called the Liquidity Book. This has been the focus of our Research and Development Team for many months and will be a major innovation for AMMs & DeFi.
Liquidity Book is a concentrated liquidity solution but built with a novel architecture for stacking Liquidity and it’s this novel architecture that allows us to really advance how concentrated liquidity can be provided and managed on AMMs.
This innovates on top of what Uniswapv3 protocol offers.
The Whitepaper will be released on the 22nd and we will be deploying this protocol in September.
Q1. I learned that Trader Joe has an NFT platform named Joepegs. What advantages would NFT projects have for the Trader Joe platform, and why did Trader Joe decide to include one as a DEX? Do JOE tokens need to be used to access the Joepegs?
So currently there is no direct tangible benefit for Joepegs<>Trader Joe, we built with the marketplace with the intention of expanding our one-stop-shop service and to act as a brand extension to Trader Joe, allowing us to tap into a new audience and market which has a halo benefit for our entire ecosystem that we provide.
The marketplace has been deployed for a few months now and whilst we have been primarily focused on developing the features, we are taking a look at the possibilities of integrating more with Trader Joe directly…Some specific discussions recently about our rJOE Token that users acquired from Staking JOE and giving that rJOE Token some utility on Joepegs, this is early ideation stage however.
Q2. When do you think the free mints are going to end and if there are any benefits of owning any free mints that minted in @joepegsnft?
Free mints will never end on Joepegs, we will always offer free mints but there will be changes to the typical schedule that these are deployed. Currently we are dropping 1 free mint a week on every Monday, but this will likely shift to a less frequent schedule as we shift the mint strategy. Basically, free mints are great but we want to change tactics with launching new NFT collections.
Q3. What exactly is the LİQUİDİTY BOOK, the NEW PROTOCOL you announced? What will be its contribution to the AVALANCHE ECOSYSTEM, what are the benefits to the community?
Liquidity Book will be fully announced on the 22nd next week, this is the first concentrated liquidity solution that will be launched natively on Avalanche. The benefits of this AMM protocol will be very low swap fees with zero slippage for traders, increased capital efficiency and fees accrued for liquidity providers and a composable concentrated liquidity protocol that will spur development of new products and protocols in the Avalanche ecosystem.
This is AMM innovation for DeFi
Q4. Do you guys have any plans to follow the idea of locked liquidity as uniswap has developed?
We do not lock liquidity on our DEX, There are 3rd party providers that offer that on Avalanche, unicrypt being one of them. I would say that in the spirit of defi and permissionless, locking is not something we like on our products.
Q5. Just saw it TraderJoe offered staking $JOE with 25% APR, would you explain more, the requirements, limitation, fees, unstaking limits and how long it will last?
Users can stake JOE tokens into sJOE and sJOE will provide a current APR of approximately 27% APR. These rewards are organic and paid out from trading fees accrued on the platform (Real Yield). The reward token is USDC stablecoin so it is a non-dilutive reward. There is a small 1% deposit fee, but no other fees or locking on that. This product is our most popular and loved, there are no plans to change this.
Host : Great thanks and that’s for our twitter question segment 🙂
Telegram Live Segment
If you had to choose, which would you prioritize? product or marketing?
In this industry: Marketing
Slightly biased with my opinion here but we’ve seen bad products and even ‘scams’ succeed due to marketing. Underlying product being good does not really result in success but you can be successful with a bad product, if your marketing is good enough
In your NFT marketplace “Joepegs”, what currency shall be used to transact NFTs? Will it only be limited to $AVAX coin or can users be able to use stabelcoin in buying and selling NFTs in Joepegs?
$AVAX for now, other tokens soon
Trader Joe is the number 1 DEX on the Avalanche Chain for trading, farming and lending. However I’d like to know why you decided to build on Avalanche chain in the first place? Why didn’t you go for more popular/secure chains like Solana or ETH?
Could you give us a hint on the alpha you plan to drop by August 22😉.
Avalanche tech made us build here, the novel consensus mechanism is great and the backing from Avalabs as a top tier team in the industry. Avalanche has proven itself over the last year as well as a reliable network that is both fast and cheap for users + scales.
Host :Thanks for diving us deeper unto Trader JOE. Chat thanks also for those great questions.
It’s time for Wrapping Up, any other things you want to share with the community? @BlueClarity 🙂
Follow the Trader Joe Twitter account, on the 22nd we drop some huge news https://twitter.com/traderjoe_xyz
📌 Here below are links for you to get the latest update about Trader JOE
News : https://t.me/traderjoe_xyz_ann