Atomist — DeFi Research & Analytics
Following on from last week’s analysis of Margin Trading on GMX and Perp v2, you may have expected some continuation. Unfortunately, Increment’s powerful DEX table hasn’t yet indexed Uniswap V3 pools. Therefore, I’m flipping this analysis completely — as well as Margin Trading, GMX also offers swaps, with their biggest competitor on Avalanche being the native Uniswap V2 fork, Trader Joe.
This report analyses the top four liquidity pools for JOE, Trader Joe’s governance and utility token, all of them residing on the Trader Joe DEX. The report will continue to use the Reach, Retention, Revenue framework from Covalent — the investigation has been completed using Increment, Covalent’s querying and charting product.
The pools analysed are as follows:
The analysis itself serves to:
Trader Joe claims to be ‘your one-stop-shop for Decentralised Finance’ on Avalanche — having forked Uniswap V2, they continued to expand into all areas of DeFi, dominating Avalanche completely by offering farming, lending, NFTs and a launchpad on top of their standard AMM.
Product Offerings on Trader Joe
Trader Joe charges a flat rate of 0.3% for all trades on the AMM, where 0.25% is distributed back to the LP of that pair. LP tokens can be further staked and farmed to boost yields — usually from direct rewards in JOE. The other 0.05% of fees is distributed to sJOE (Staked JOE) in the form of USDC. Rewards of all kind can be further boosted by locking your JOE as veJOE (vote-escrowed) up to a maximum of 1 year. For more details, visit the V1 docs.
Trader Joe is in the process of releasing their V2 AMM product, Liquidity Book, a concentrated liquidity AMM — learn more in their V2 docs.
Reach encompasses growing a user base allowing us to evaluate the usage of JOE pools.
JOE - Number of Trades in each Liquidity Pool
JOE - Number of Trades in each Liquidity Pool
JOE - Number of Traders in each Liquidity Pool
JOE - Number of Traders in each Liquidity Pool