Trader Joe STIP Program Update #7 (Feb. 9, 2024)
ARB DAO STIP REPORTING
Overview
Overall the previous two weeks see reductions over the 14d period in volume, swap fees and DAU aligning to broader ecosystem activity. TVL sees a slight increase over the same period, Trader Joe has finished the core part of the outlined plan and now moves into a lower usage of ARB focusing on core ecosystem pairs to see through the end of March via the extended distribution deadline.
Trader Joe takes a first review at Phase 3 market performance. The grant program aims to support the sustainable growth of Liquidity and analysis of Phase 3 Markets is being finalized. Any markets falling below a measured TVL threshold will receive bonus JOE rewards.
Trader Joe remains high conviction of native long tail tokens and new to Arbitrum long tail tokens by so far supporting 20 different projects with ARB rewards, helping to foster discovery and directly support the builders that are contributing to Arbitrums success.
KPI Tracking and TVL Support Strategy
Our grant program includes a mechanism to sustain Total Value Locked (TVL) in markets after distributing ARB rewards. Here’s how it works:
- TVL Threshold: If TVL drops below 25% of its peak 7-day average within 28 days after ARB reward distribution, additional JOE rewards will be allocated.
- Evaluation Method: We use a 7-day rolling average to evaluate TVL, comparing it against the highest average during the reward period.
Phase 3 Market Analysis with ARB Rewards
We’ve analyzed the markets from Phase 3 that received ARB rewards using a color-coded system (traffic lights) to indicate changes in TVL. This analysis was conducted 14 days following the ARB reward distribution.
- There were two markets in Phase 3 that receives ARB rewards as part of the outlined framework
- RDNT: Current TVL -42%
- ALPHA: Current TVL -67%
- Both remain within the -75% threshold outlined above
- The markets will be reviewed ahead of the next epoch to see if JOE rewards will be added
ARB Received Last Disbursement: 1,510,000
Amount of ARB to be distributed: 123,750 ARB
Contracts incentivized over the last 2 weeks:
| Pair Name |
Rewards |
Reward/day |
Pool Address |
pair_address |
Reward address |
| ETH - USDC (AP) |
22,500 |
1,607.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x5fb31318...5f4dff2f1 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| WBTC - ETH (AP) |
4,500 |
321.43 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xea9f1ab0...f2945f0da | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ARB - ETH (AP) |
27,500 |
1,964.29 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xa37ef010...aed196e05 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| JOE - ETH (AP) |
10,000 |
714.29 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x4b9bfeD1...31FfBA74a | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| CTX-ETH |
500 |
35.71 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x6524EC5e...aa338C0d5 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| USDV-USDC |
1,125 |
80.36 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x53ECccCA...B411ad258 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ARB-USDC (20 bps) |
13,750 |
982.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xF8a60082...f24a358a4 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ETH-USDT |
5,000 |
357.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xd387c40a...2Ce6038a5 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ETH-USDC.e |
5,000 |
357.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x94d53BE5...a772a6f7C | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| MAGIC - ETH |
5,000 |
357.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xE847C55a...eC25089c1 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| PENDLE - ETH |
5,000 |
357.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xe2b32e6D...aDaF9c9D1 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| WBNB - ETH |
2,500 |
178.57 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x9c27d9cE...B8549eCAe | Arbitrum One |
NFT | ERC-1155 | Address: 0x912ce591...0e49e6551 | Arbitrum One |
Contract address label Form 2 3 completed for all addresses: YES
ARB left over: 239,000 (excluding the coming 2 week period)
Plan for leftover ARB:
Summary of incentives:
- MM Rewards: Native Tokens 41k $ARB
- MM Rewards: Multi-Chain Tokens 6.25k $ARB
- MM Rewards: New-To-Arbitrum Tokens 500 $ARB
- Auto-Pool Yield Farms 72.5k $ARB
Full Phase Overview: https://x.com/TraderJoe_xyz/status/1720529281774653615?s=20 2
Full Program Overview: https://x.com/TraderJoe_xyz/status/1720101440855945700?s=20 1
Recent Epoch Overview: https://twitter.com/TraderJoe_xyz/status/1745854069971812387
Additional Info / Disclosures to Multisig: N/A
STATS
Record daily highs for fee generation, volume and local highs for daily active users
Average 14D TVL: $36.2m (+6.1% 14d) (++1.7% 30d)
Average 14D daily volumes: $25.9m (-28.6% 14d) (+18.1% 30d)
Average 14D unique user addresses: 11.3k (-37.4% 14d) (+45.4% 30d)
14D Avg Daily Transaction fees: $31k (-30.3% 14d) (-18.1% 30d)
Link to our full reporting dashboard:
STIP KPI Dashboard | Trader Joe | Flipside 7 1
Plan For the Next Two Weeks
Amount of ARB to be distributed: 123,750 ARB
Contract address label Form 2 3 completed for all addresses: YES
| Pair Name |
Rewards |
Reward/day |
Pool Address |
pair_address |
Reward address |
| USDV-USDC |
1,125 |
80.36 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x53ECccCA...B411ad258 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ARB-USDC (20 bps) |
13,000 |
928.57 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xF8a60082...f24a358a4 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ETH-USDT |
5,000 |
357.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xd387c40a...2Ce6038a5 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ETH-USDC.e |
5,000 |
357.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x94d53BE5...a772a6f7C | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| MAGIC - ETH |
5,000 |
357.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xE847C55a...eC25089c1 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| PENDLE - ETH |
5,000 |
357.14 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xe2b32e6D...aDaF9c9D1 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| WBNB - ETH |
2,500 |
178.57 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x9c27d9cE...B8549eCAe | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ETH - USDC (AP) |
20,000 |
1,428.57 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x5fb31318...5f4dff2f1 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| WBTC - ETH (AP) |
3,500 |
250.00 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xea9f1ab0...f2945f0da | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| ARB - ETH (AP) |
25,000 |
1,785.71 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0xa37ef010...aed196e05 | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
| JOE - ETH (AP) |
8,000 |
571.43 |
LFJ | Crypto Trading Platform Built for Winners |
Address: 0x4b9bfeD1...31FfBA74a | Arbitrum One |
Arbitrum (ARB) | ERC-20 | Address: 0x912ce591...0e49e6548 | Arbitrum One |
Mechanism for distribution incentives:
Maker Incentive Program that measures Liquidity Providers total fees accrued over the defined Epoch duration of 14 days and ranks them according to fees accrued. The top 30 in each respective Liquidity Pool will share the rewards based on a power function (power=0.7). Rewards are retroactively distributed in the following days after the defined Epoch and can be claimed directly on the UI via a smart contract. Rewards vest between 1 hour and 7 days.
Auto-Pool Yield Farms distribute the planned incentives in a linear fashion and can be collected at any time by all participants in an Auto-Pool Yield Farm. Rewards are shared proportionately to all users in the Auto-Pool Yield Farm.
Summary of incentives plan:
The below ARB being utilized will be distributed over the dates 10th of Feb - 23rd of Feb
- MM Rewards: 36.6k $ARB
- Auto-Pool Yield Farms 56.5k $ARB
Summary of changes to the original plan:
None to report
