[Free Trial Inside!] Interview with The Team from Trader Joe & How to get Hot Yields on Alternative Chains

the team from elrond

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[Free Trial Inside!] Interview with The Team from Trader Joe & How to get Hot Yields on Alternative Chains - - 2024
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[Free Trial Inside!] Interview with The Team from Trader Joe & How to get Hot Yields on Alternative Chains - - 2024


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In This Issue

  • The team from Trader Joe, a multi-functional decentralized trading platform native to the Avalanche blockchain.
  • Lark has a report for you on how to get hot yields on alternative chains.

Trader Joe Inverview

[Free Trial Inside!] Interview with The Team from Trader Joe & How to get Hot Yields on Alternative Chains - - 2024
<h3 id="for-anyone-not-familiar,-what-is-trader-joe?“>For anyone not familiar, what is Trader Joe?

Trader Joe is a multi-functional decentralized trading platform native to the Avalanche blockchain. We make DeFi accessible to everyone and provide users with an unparalleled user experience, here on Avalanche. Users visiting the platform will be immersed into a true ‘one-stop-shop’ DeFi experience. The platform started out as a DEX where users can Trade, Farm and Stake. We then added a Lending Protocol (Banker Joe) where users can supply and borrow assets. Then we built a liquidity launch platform (Rocket Joe) where projects can fair launch their token. Now we’re building an NFT Marketplace called JOEPEGS.

We believe that what sets Trader Joe apart from other multi-functional platforms, is that this platform is fully-integrated. What we mean by ‘fully-integrated’ is that users experience a seamless service between the different primitives built into the platform, an example being we do not have a ‘Launch App’ button and there are no external integrations or referral links on our platform. It is a whole and complete service. We also wrap everything up in a clean and consistent UI, with a friendly and playful brand.

<h3 id="can-you-tell-us-about-the-joe-token?“>Can you tell us about the JOE Token?

Firstly, the JOE Token is the one and only token in the JOE ecosystem. For our users that hold JOE we offer what we called ‘modular staking’. This is where users have multiple options of staking with their JOE Token. Modular Staking allows us to offer broad utility tailored to each individual part of our multi-functional trading platform.

veJOE

veJOE is a staking option that rewards long-term Stakers with Boosted JOE Farm rewards, as well as providing voting power for future Governance.

Users stake JOE into veJOE and earn veJOE over time. The more veJOE they have, the higher their boosted APR will be. We’ve gamified this in a certain way as well, the rate of veJOE accrual is fixed however, you can boost this accrual rate by 2x for a 15-day period when you stake at least 5% more JOE tokens on top of your original staked amount. This encourages and incentivizes Farmers to continually stake more JOE Tokens.

sJOE

sJOE is a simple staking option that provides users with a stablecoin reward, paid out once per day. A user can deposit JOE tokens and collect stablecoin rewards (currently paid out in USDC). This is a single-sided staking product with no risk of impermanent loss. sJOE also has the capability to reward more than one token at a time, we have not utilized this feature yet…Little bit of alpha there.

rJOE

rJOE Staking rewards users with allocation credits to enter Rocket Joe Launches. Users can stake JOE into rJOE and earn rJOE over time. That rJOE is used to enter into a Launch event, where Rocket Joe launches a new Token.

<h3 id="can-you-tell-us-about-your-upcoming-nft-marketplace?“>Can you tell us about your upcoming NFT marketplace?

At the date of writing (16th April) we are approaching the launch date for our NFT Marketplace, which we are calling ‘JOEPEGS’. The JOEPEGS Marketplace will be a game-changer for existing Marketplaces on Avalanche, key features include:

  • ‘LAUNCHPEG’ – The first ever Dutch Auction Launchpad for NFTs
  • Mint List Support & Batch Reveal for Collections
  • Permissionless Listing
  • Contract Creation & Support for Artists
  • Integrated to the existing look and feel of the Trader Joe platform

Our rationale for building this marketplace is to help spur the growth of NFT Culture on Avalanche. Avalanche also has a very strong narrative of being a gaming chain, we want to be able to support many of our partners not just with liquidity but also provide a marketplace for them to list their in-game digital assets.

<h3 id="who-are-your-biggest-partners,-and-how-are-they-helping-trader-joe-succeed?“>Who are your biggest partners, and how are they helping Trader Joe succeed?
  • Avalanche Foundation – they introduce us to basically everyone with their experienced BD department and are always happy to advise us on everything from tokenomics to engineering.
  • Community – everyone from our own community to partner projects in Avalanche. We’re a very supportive community who always want to champion other projects and they champion ours.
  • Strategic Investors – they have been key in connecting us to important folks in the wider crypto community
<h3 id="why-did-you-decide-to-build-on-avalanche?“>Why did you decide to build on Avalanche?

The key appeal from a tech perspective is that the consensus mechanism was completely different from other L1s. Avalanche’s approach to solving that trilemma of speed, security, and scalability stood out amongst all other existing options.

Emin’s personal brand was also a big influence…he was a notable figure even before crypto was big, so in a way that was a level of reassurance that Avalanche would be well represented and maintained at project level.

<h3 id="what-comes-next-for-trader-joe?“>What comes next for Trader Joe?

After the NFT Marketplace has deployed, a key focus will be implementing governance, utilizing our veJOE Tokenomics. However, the next major project will be a new DEX model (JOE V2). We’re in a research phase currently, but we have a good fix on a new concentrated liquidity solution we want to push forward with. This will be a solution that is built to make use of the capabilities that the Avalanche blockchain provides.

Hot Yield On Other Chains By Lark

[Free Trial Inside!] Interview with The Team from Trader Joe & How to get Hot Yields on Alternative Chains - - 2024

This week I want to highlight some of the high yields you can get on other chains. There are so many ways to make good money in crypto right now, especially if you take a mercenary capital point of view. That is to say your capital is not wedded to one chain or protocol, you are willing to move your money where the yields are best. I want to be clear that there are many risks when using defi. Often you need to bridge assets to these chains from other chains, which is a risk as we have seen many high level bridge attacks with hundreds of millions lost. These are new platforms, and smart contract exploits can result in losing all of your funds. I am also only looking at “safer” plays, so no leveraged plays here!  That being said, let’s look at some opportunities. PS This is far from an exhaustive list, just a few highlighted opportunities. 

<h3 id="astar’s-starlay-finance“>Astar’s Starlay Finance

Defi Dad covered this in-depth, in last week’s defi tutorial, but this is a VERY hot and high yield platform on Polka Dot based Astar Network. It is currently offering single sided deposits for stables and core assets. The Dai Stablecoin is offering 27%, Wrapped Bitcoin 16%, and Wrapped Ethereum 26%. These are incredible rates, and it is important to note that when the LAY rewards are released the APR could end up being quite different. 

<h3 id="
fantom’s-spookyswap“>
Fantom’s Spookyswap

The big boy on Fantom when it comes to total value locked, but even with that being the case it still has some nice yields in their farms. Even their USDC- DEI stablecoin pool is offering over 30%!!!! 

<h3 id="avalanche’s-echidna-finance“>Avalanche’s Echidna Finance

A platform operating on top of Platypus Finance which is a stablecoin swapping protocol on Avalanche. It is a relationship similar to Curve and Convex Finance on Ethereum. Anyway, they are offering single sided stablecoin deposits with up to 19.1% for UST. 

<h3 id="avalanche’s-newly-launched-yeti-finance“>Avalanche’s Newly Launched Yeti Finance

This has a pool whereby you deposit their native stablecoin YUSD and you will get 46% APR rewards paid out in the YETI token. 

<h3 id="solana’s-orca“>Solana’s Orca

A big swapping and farming app which has lots of great rates for a wide range of Solana based altcoins. It is a good alternative to Raydium. Their new whirlpool feature offers some tasty yields on stable pools around 15%, and around 80% on stablecoin / Solana pools. 

<h3 id="oasis-network-valley-swap“>Oasis Network Valley Swap

This has some yummy farming rates at 26% for the USDC/USDT pool and much higher rates for ROSE based pools although impermanent loss becomes a concern.  

<h3 id="cardano’s-minswap“>Cardano’s Minswap

This is being included as an honorable mention here. Currently the stablecoin scene on Cardano is basically non-existent and there appear to be no wrapped assets being used by the major defi protocols so that means no Bitcoin pools and not even wrapped ADA pools. However, there are some pretty juicy rates for those looking to get involved in Cardano defi, for example 137% for the ADA/MIN pool and 90% for the ADA/DANA pool. 

<h3 id="in-closing“>In Closing

There are many higher yields to be had out there in crypto, on these platforms and others if you look into farming incentive programs for more exotic altcoins. These can often be in the high triple digits. That being said there are also considerable risks. To be clear you do not have to try and get into all of these pools, or any of them. The intention here is to highlight that there are some great rates available across the blockchain space.

Final Notes

Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.

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Lark and the Wealth Mastery Team

Legal Disclaimer

TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.

Join the Wealth Mastery Investor Report

By Lark Davis

Combining cutting edge insider insights and done-for-you market analysis to deliver crypto investors the best opportunities to grow their wealth, stay ahead of the curve, and avoid costly mistakes! We cover DeFi, NFTs, Altcoins, Technical Analysis and more! 

Join the Wealth Mastery Investor Report

By Lark Davis

Combining cutting edge insider insights and done-for-you market analysis to deliver crypto investors the best opportunities to grow their wealth, stay ahead of the curve, and avoid costly mistakes! We cover DeFi, NFTs, Altcoins, Technical Analysis and more! 

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