The project announced a liquidity incentive scheme to increase deposits for ARB, ETH, and USDC trading, in which 300,000 JOE token awards worth around $170,000 were distributed. The incentive scheme will come to an end on April 6.
According to the project’s social media account, Trader Joe accounted for 15.7% of overall ARB trade volume in the first week.
Trader Joe’s rises up the DEX ranks
With its V2 upgrade in Q4 2022, Trader Joe developed a Liquidity Book (LB) model that competes with Uniswap’s UNI $6.07 V3 liquidity model.
To boost capital efficiency, Trader Joe’s concept allows liquidity providers (LPs) to add liquidity in designated “price bins.” According to the Delphi research, its design has “zero slippage” and “provides significantly greater flexibility due to its fungible nature, providing superior flexibility and experience for LPs.”
According to Token Terminal data, a P/E ratio of less than 15.2 would position Trader Joe among the top fifteen protocols in terms of real earnings for token holders. For prominent DeFi protocols such as dYdX, SushiSwap, and Convex Finance, the P/S ratio (determined by dividing a token’s fully diluted market valuation by its annualised revenue for token holders) is greater than 15.
With the progress made with LB design and migration to platforms other than Avalanche, the price of JOE token awoke from its deep hibernation from last year.
