Liquidity Book: Launch Day Plan & Parameters
Key market and community information for the Liquidity Book AMM launch
Liquidity Book AMM
Liquidity Book is the most efficient Automated Market Maker (AMM) in Web3. Ushering in a suite of new innovations for the AMM field and DeFi alike, such as Surge Pricing, impermanent loss mitigation, zero slippage trading and a composable bin architecture. To read more about the key features and innovations of Liquidity Book checkout the following article:
Main-net Launch
Liquidity Book will launch on Main-net at around 4pm UTC, this could be delayed and if that happens, the Core Team will communicate any necessary updates. Liquidity Book will deploy in a number of Phases, with the details of these Phases shared below.
Phase 1
Phase 1 is classed as the Launch Phase and this will see the deployment of a number of stable swap markets and pegged asset markets classed as the below:
Please note that these configs may be adjusted ahead of launch
Term Definitions:
Base Fee: The flat fee that is charged for Trading
Variable Fee: The max variable fee you will pay if Surge Pricing is turned on and hits the volatility cap
Max Fee: Base Fee + Variable Fee (Max) combine. You will never pay a higher Fee to trade than the Max Fee that has been defined
Trading using these markets will cost as little as 0.02%, down from the previous Joe v1 Trading fee of 0.30% - Trading Stables just reduced in cost by as much as 93%.
Further details on Launch Market Parameters can be found in this thread:
Farm Closures
Pairs that have active Farms (receiving JOE Rewards) that are being opened on Liquidity Book, will in the very near-term have their Farms closed (stop receiving JOE rewards). The below Farms will be closed very likely within the next week:
Farms to Close:
If you have an active position in the above linked Farms, you can decide if you want to move your tokens into the Liquidity Book Pools, or keep them in the current Joev1 Liquidity Pool. The choice is down to you, your deciding factor will come down to the yield that is generated and the potential risk for managing the position.
Phase 2
Phase 2 will deploy within days/weeks, details on this Phase and the markets to be deployed will be shared when ready. There may be further markets opened in later Phases and when planned, communication will be shared ahead.
The long-term goal is to reduce JOE Emissions to 0%
Liquidity Book AMM can help to facilitate this goal, once all planned markets are deployed, daily emissions of Joe will drop by ~75% down to ~13k per day (about $2k in todays value)
veJOE
veJOE will remain open and will continue to receive JOE emissions, there will be a static amount of JOE rewards sent to veJOE Farms every month (no longer a monthly declining amount of JOEs as per the emissions schedule). New Farms will be opened to replace Farms that close, so users will have ample choice to yield farm, veJOE will be the only vehicle to earn JOE rewards and JOE as a token will becoming extremely rare to earn over the coming year.
Governance for Farms will also be rolled out in the coming weeks, veJOE Stakers will be able to vote on opening, closing and directing emissions share. Details to be shared within the coming days.
Liquidity Book Guides
The Liquidity Book AMM is a complex protocol and managing concentrated liquidity positions is not as straight forward as a traditional AMM, such as Joe v1. However, Trader Joe has made it easy and straightforward as possible, you can deposit liquidity with as little as 3 clicks.
It is always best to come prepared, so check out these straight forward how to guides
For the lazy that do not want to click below is the Trading Page with elements expanded and explained:
Trader Joe always promises to deliver a clean UI with a highly intuitive UX, helping you to seamlessly dive into the world of DeFi, so you can begin trading and yield farming with total ease.
Community Questing
Trader Joe is happy to partner with multiple Questing platforms to help facilitate new experiences and provide unique rewards. Check out the range of Questing experiences below, landing today (15th). Community Status, Tokens and progress on your path for the Joe’s Journey Stamp Adventure!
Galxe:
An ultra rare Golden Liquidity Book awaits 10 lucky minters
Quest3:
Joe’s Journey Stamps:
Layer3: Explore the JOE Ecosystem
Dropping on the 18th
More Quests will be dropping over the coming weeks to help support the Trader Joe ecosystem and reward community participation to stay tuned for more.
Social Events
Trader Joe Twitter Spaces Community AMA: 16th 3pm UTC
You can also register for this event on Galxe to secure an NFT as part of a Joe Spaces series of NFTs: Link to Galxe
Popular Questions
Can I open my own Liquidity Pool on Liquidity Book?
No - Liquidity Book is permissioned only and markets have to be opened by the Core Team
How do I Trade on Liquidity Book?
The same way as you currently trade, the DEX will route your trade in the most optimal path ensuring you always get the best execution price
How can I provide Liquidity to a Liquidity Book Pool?
Go to the Pool page and select ‘V2’ at the top of the Pool Page, this will filter out Liquidity Book Pools
Do I have to move my Liquidity into Liquidity Book?
If you are in an active Pool that is also live on Liquidity Book, it is up to you to decide if you want to move your Liquidity to that new Liquidity Book Pool. Your deciding factors will be based on yield and risk.
Will Joe v1 close?
No, any and every v1 Liquidity Pool will remain open and active for trading, providing there is liquidity
Can I open a new Joe v1 Liquidity Pool?
Yes Joev1 will still be open for new Liquidity Pool creations
Will there be protocol share?
Fee sharing to sJOE will be turned on at a future date when ready
Can I build on top of Liquidity Book Pools?
Liquidity Book Content
Latest version of the Liquidity Book Whitepaper
Value Propositions of Liquidity Book AMM
Developer Documentation
https://docs.traderjoexyz.com/
About Trader Joe
Trader Joe is a one-stop-shop decentralized trading platform native to the Avalanche blockchain. Trader Joe offers a comprehensive DeFi platform where you can Trade, Lend and Leverage, participate in a Launchpad and shop for NFTs. Visit Trader Joe and discover what DeFi can really offer.