Trader Joe

2023

November 11: $ARB rewards from the STIP are live

October 17: Trader Joe Guild Community hits 100k members

• A free commemorative NFT mint is provided.

October 7: Arbitrum’s STIP snapshot proposal

• Trader Joe is seeking a 1.51m $ARB grant to incentivize liquidity providers, support builders that are committed to Arbitrum and to onboard new builders to the ecosystem.

September 19: Live on DeBank

September 7: Partnership with Swell Network

• Swell is a market-leading non-custodial liquid staking protocol for $ETH with a security-first approach and focus on maximum simplicity.

August 29: Joepegs bug bounty program

• All valid bug reports will be eligible for a 1,000 $JOE token reward.

August 4: Auto-pool farms live

• Auto-Pool Farms will be a powerful way to help bootstrap liquidity and kickstart the volume Auto-Pool flywheel.
• $JOE emissions are meticulously managed to ensure a balanced approach will be taken rewarding Auto-Pools and Market Makers via the LB rewards program.

August 4: Ethereum expansion live

August 3: On-chain limit orders

• Setup automated buy or sell orders that execute with no fees or price impact.
• Power your liquidity provisioning with automated strategies.

July 20: Expansion to Ethereum announced

July 14: New analytics features introduced.

• Users can now view Individual Liquidity Distributions and track the Auto-Pool Share Price.

June 23: Partnership with Timeswap Labs.

• Timeswap utilizes a unique constant sum options specification and an ingenious duration weighted constant product automated market maker (AMM) similar to Uniswap AMM.

June 22: Auto-Pool launches on Binance Smart Chain.

June 15: Partnership with Level Finance.

• Level Finance is an omnichain Perpetual DEX.

June 15: Partnership with Savvy DeFi.

• Savvy has chosen Trader Joe, as their key partner on Arbitrum to host liquidity for $SVY and their synthetically tied assets $svUSD, $svETH and $svBTC.

June 1: Auto Pools launches.

• Auto-Pools are an automated liquidity management solution built for Liquidity Book.
• “The General” is the first Auto-Pool that will be deployed for AVAX – USDC (Avalanche) and ETH – USDC (Arbitrum).

May 18: Tokenomics Update: veJOE.

• veJOE will be sunset
• Users can withdraw JOE tokens from veJOE
• Emissions to V1 yield farms will cease by or before Jan 2024 (emissions schedule)

April 27: Rebranding of Trader Joe.

• Captures its essence while creating space for growth, welcoming the Web3 community while staying true to its roots.

April 26: V2.1 fee collector deployed.

• Liquidity Book V2.1 pools will now start to share a % of fees directly with sJOE.

April 21: New features for V2.1 Pools.

• Custom Curve + Bid-Ask Shapes: Deploy liquidity over any range using Curve and Bid-Ask.
• Simulated Liquidity Distribution: Select your shape and define your range or radius to visualize your liquidity distribution before deploying it.

April 21: Liquidity Book rewards: Epoch 4 begins.

April 18: Liquidity Book V2.1 audit.

April 7: Liquidity Book V2.1 announced.

• Liquidity Book offers market leading levels of customization and flexibility, but V2.1 takes things a step further by democratizing the ability for everyone to access the power of Liquidity Book.
• Details includes:
  • Autopools: Automated strategy execution layer for Liquidity Book.
  • Autopool Receipts: Deposit and collect rewards, yield farming we all love.
  • sJOE: Stake into sJOE and receive your share of trading activity.
  • Permissionless Pools: Anyone can open a Liquidity Book Pool.
  • Fees now compound: Optimizing gas usage by ~30-40%
  • Migration to new V2.1 Liquidity Pools.
  • Maker style limit orders (deploying at a later date).

April 4: Pool Party event to promote the launch of Auto-Pools.

• An exclusive guest-list only mintable NFT collection with some premium rewards attached for lucky users that support the launch of Auto-Pools.

March 21: Liquidity Book rewards: Epoch 3 begins.

• Epoch 3 will focus on incentivizing early accrual of the ARB Token via the Liquidity Book Rewards Program.

March 7: Trader Joe goes live on BNB Chain

February 5: Phase 2 of the Arbitrum Adventures launches.

• Participants can complete quests to earn rewards on Guild and Crew3.
• Unlocking rank 2 on Guild unlocks the prize channels to participate in raffles.
• Completing all Questboards on Crew3 for all partners to enter the grand prize raffle for a chance to win at least $18k and earn an exclusive set of NFTs.
• Partners includes Vesta Finance, GMD Protocol, Umami Finance, PlutusDAO.

February 2: Rocket Joe NFTs launches on the Joepegs NFT marketplace.

• Claimable for free by anyone who holds rJoe Tokens in their wallet.
• The amount of rJOE you accrued dictates how many Rocket Joe NFTs you can claim:
  • Over 1m rJOE you claim 60.
  • Over 100k rJOE you claim 30.
  • Over 10k rJOE you claim 8.
  • Over 1k rJOE you claim 2.
  • Under 1k rJOE you claim 1.
• Rocket Joe NFTs holders will have access to exclusive benefits and roles as a part of the upcoming Community V2 program and are tradeable.

February 2: Trader Joe Community V2 launches.

• Join the community, participate, contribute, complete quests, and unlock rewards.
• 7 key community categories covering the broad offerings in the Trader Joe Ecosystem.
• Level up to rank 4 to prove your advocacy and gain access to our most exclusive community perks.

January 28: Phase 1 of the Arbitrum Adventures launches.

• Participants can complete quests to earn rewards on Guild and Crew3.
• Unlocking rank 2 on Guild unlocks the prize channels to participate in raffles.
• Completing all Questboards on Crew3 for all partners to enter the grand prize raffle for a chance to win at least $4k and earn an exclusive set of NFTs.
• Partners includes Gains Network, Buffer Finance, Jones DAO, Radiant.

January 27: Joepeg launches on the Binance smart chain.

January 22: Tokenomics revamp announced:

• JOE will become a multichain token.
• sJOE will be available on Arbitrum and BNB.
• veJOE stakers can earn boosted rewards from the LB rewards program.
• rJOE staking will be deprecated.

2022

December 27: Trader Joe goes live on Arbitrum.

December 24: JOE holders can now vote on and propose new Liquidty Book markets.

December 20: New Liquidity Book markets added.

• JOE / USDC – Base Fee 0.25% .
• JOE / AVAX – Base Fee 0.15% .
• WETH, JOE, BTCb – new pools launched with AVAX pairings.

December 1: Trader Joe announces Arbitrum deployment.

November 15/16: Liquidity Book launches Phase 1.

• Launched with 6 stableswap pairs, including BTC and AVAX pairs.
• 3 stableswap pairs closed in light of launch.

November 10: Banker Joe features are temporarily disabled.

• USDT and USDT.e deposits paused.
• All borrowing paused.

October 12: Liquidity Book testnet goes live.

September 26: Liquidity Quest program launches: users can complete Trader Joe quizzes and marketing tasks for JOE tokens, and other rewards.

August 22: Banker Joe adds USDT and BTC.b markets, at 80% and 75% LTV ratios, respectively. 

July 5: 1 year anniversary of Trader Joe,  announcement of Liquidity Book DEX.

• Novel protocol for structuring liquidity aiming to pave the way for a new generation of AMMs.
• Provides concentrated and composable Liquidity on Avalanche, with goal to rival Uniswap V3 design.
• Counts liquidity bin steps on every trade without delay or lag, providing a highly accurate and innovative mechanism that measures volatility.
• Users can specify a price range that they want their liquidity to be provided into.
• Provides fungible LP receipt tokens, variable fees, and other unique features.

June 30: Team reduces 25%, to 66.5k JOE tokens per day.

June 16: In light of 3AC collapse, the team clarifies that 3AC did not manage the Trader Joe treasury.

June 14: Team reduces JOE emissions.

• Discontinued rewards for 13 farms, 11.7% decrease.
• Team chose to save JOE tokens for better market conditions in the future.

June 11: Team acknowledged exploit in late 2021.

• The exploit took place from November 24 – December 2.  
• The team did not disclose as there were concerns relating to TIME Wonderland at the time.
• Exploiter would deposit and extract value from LPs, reducing the expected payout yield for xJOE.  
• The contract was forked from Sushiswap with a tweak to include ‘tx tax’ which is the ‘exploitable’ part.  
• The exploit was discovered via immunefi bug bounty and was swiftly fixed.  
• The team paid out $50k to the submission of the bug bounty.  
• Fix was to roll back xJOE buyback to JoeMakerV1.

April 30: Rocket Joe Launch Partner: SteakHut Finance.

• SteakHut Finance aims to accumulated veJOE, and participate in the ‘JOE Wars’.  
• The protocol offers boosted incentives for JOE tokens, with the goal being to accumulate the largest treasury of veJOE and have the ability to direct JOE incentives.

April 25: Launch of Joepegs announced.

• Avalanche NFT marketplace on Trader Joe dApp.
• Features LaunchPEG, an NFT launchpad that can mint collections in different styles including Dutch auctions, flat mints, and whitelists.
• The batch reveal feature allows NFT projects to delay collection reveals until a specific time.
• Collection tiers: unverified, verified, and gold.
• Artist support includes a contract creation service for creators with limited web3 experience.
• Indexed all Avalanche-compatible NFT contracts and make them available for search and trade.

Q1: Tokenomics v2 fully introduced.

• xJOE discontinued, with only the ability to withdraw being supported.
• sJOE (Stable JOE) distributes protocol fees to stakers via stablecoins, rather than more JOE.
• 0.3% fee on swaps, with 0.25 % going to liquidity providers, and 0.05% going to sJOE stakers, in the form of USDC.
• rJOE (rocket JOE) gives early access to DEX token launches, meaning that holding a certain amount of rJOE will give you an allocation of the token.  
• veJOE gives boosts for certain liquidity pool farming rewards, based on the model of the ‘Curve Wars’.

January 31: First Rocket Joe protocol token launch announced.

• Launching with Heroes of NFT, an Avalanche native card game.
• A strategic partnership with Avalaunch also announced; two protocols will work together to launch new Avalanche protocols.
• Rocket Joe provides a way for protocols to launch their token, the Avalaunch launchpad then provides wide and fair token distribution.

January 25: Partnership with Keystone hardware wallet announced.

January 18: Strategic partnership with Ferrum Interoperable L1 network announced.

• Ferrum and Trader Joe to Deploy an incentivized Farm.
• Trader Joe Joins the Iron Alliance, a robust network of Ferrum Network Partners.

January 16: Partnership with Yeti Finance announced. 

• Yeti Finance will integrate a range of Trader Joe assets, including JLPs, xJOE, and Banker Joe Tokens with up to 11x leverage.
• The Yeti Finance protocol charges 0% interest, has a minimum collateral ratio of 110%, and allows users to redeem YUSD (the Yeti stablecoin) at face value for the underlying collateral at any time.
• Includes farming rewards for deposited JLPs, xJOE, and jTokens.

January 15: Rocket Joe launches.

• Participating protocols could earn Protocol Owned Liquidity (POL).
• New tokens could be launched via Trader Joe market-price discovery system.  
• Designed to discourage front-running bots and ease the volatility of new token launches.
• To access Rocket Joe, users must earn rJOE tokens by staking JOE and then exchange rJOE to gain access to the launch pool, where they can deposit AVAX to be allocated a percentage of the pool. 
• Users can then receive LP tokens composed of their AVAX and the new token, which will be locked for 3-7 days.

2021

November 16: JOE-USD Chainlink price feed is added.

• The integration enables JOE borrowing and lending on Banker Joe.

November 10: Trader Joe integrates with Rome Terminal.

• Rome Terminal is a multichain and multi-dApp trading terminal suite for DeFi trading.  
• Includes charting, real-time order flow, token tracking, and advanced analytics.

October 27: CREAM protocol is exploited.

• Trader Joe had forked some code from CREAM for Banker Joe.
• Borrowing was paused and the community was alerted.
• Borrowing was reopened after the code was reviewed and the team found no attack vector.

October 25: Joe Rush program begins.

• Provided extra incentives for certain farms.
• $20m in incentives: $10m in JOE tokens, and $10m in AVAX tokens, from the Avalanche Rush incentives program.

October 25: Launch of Community Farm management via The Cultivation Club.

• The club will allow the Trader Joe community to have full governance over the allocation of community farms, which are smaller farms for tokens launched on Avalanche.
• Club launches with committee of veteran members who help manage community LP farms.

October 20: Banker Joe launches, powered by Chainlink price feeds.

October 9: Launch of Banker Joe Lending announced.

• Trader Joe aims to be a one-stop shop for DeFi on Avalanche.
• Users can lend tokens out single-sided with no risk of IL (Impermanent Loss).
• Users can open leveraged longs, levered farming, and open short positions through Banker Joe.

October 3: 7.12% of total JOE supply is unlocked.

• The team locks 50% to show commitment.  
• The remaining 50% remained unlocked, with the intent to use it to grow community and development.

September 20: Announce new partnership details with Beefy Finance.

• Launched BIFI – AVAX farmers market farm with 2x multiplier.  

September 2: Trader Joe raises $5m in round led by Defiance Capital, GBC, and Mechanism Capital.

• Other investors included 3AC, Delphi Ventures, Coin98 Ventures, Not3LAU Capital, the Avalanche community, Avalaunch, and Yield Yak.

August 23: Double reward farms removed due to vulnerability.

• Sushiswap team reviewed Trader Joe contract and found vulnerability.
• $25k in VSO-AVAX and YAK-AVAX pools was at risk.

August 1: xJOE single-sided staking announced.

• Emissions reduced from 30 to 20 JOE per second.
• JOE was at $3.4m marketcap, with Trader Joe processing 18% of all Avalanche volume.

July 14: Announced plans for Grown on Avalanche Program (eventually discontinued).

• Projects with 50k TVL on Avalanche could be eligible to have a farm opened with 1x reward multiplier, with goal to increase multiplier over time.

July 8: Announced addition of Farmers Market.

• One farm would be chosen to receive 20x rewards multiplier for 3 days.

July 7: Trader Joe announces integration of Chainlink price feeds.

• Announced goal of bringing lending and leveraged trading to Avalanche DeFi.

July 3: JOE farms launched, starting token emissions.

June 29: Trader Joe launches on Avalanche.

• Founded by 0xmurloc and Cryptofishx, both of whom are anonymous and knew each other previously as family friends.
• Cryptofishx helped a DEX that gained significant TVL, despite having no developers: this made him realize he could make his own fork.
• Launched as a fork of UniSwap v2.
• Unique features include redesigned UI, candle-wick charts, 1-click “Zap” feature to deposit liquidity or migrate LPs from Pangolin DEX, and double reward farms.