Introducing: Trader Joe Maker Medals
Introducing: Trader Joe Maker Medals
A new Trader Joe community experience adding gamification via dynamic NFTs
The world of decentralized finance (DeFi) is constantly evolving, and Trader Joe is once again leveraging new experiences to enrich the community ecosystem. Introducing the Maker Medal program, a dynamic non-fungible token (NFT) that not only represents but also grows with your achievements as a Market Maker when participating in the Liquidity Book Rewards Program.
Built on the popular and new-to-the-scene Rep3 platform, Maker Medals are designed to automatically evolve, based on your participation and performance as a Market Maker. Maker Medals add an element of community depth, infusing a new edge of gamification that enriches engagement with a new layer of hierarchy to the Makers Club community. The Makers Club is an exclusive community within the Trader Joe Discord, reserved for the most dedicated and successful Market Makers. To gain access to the Makers Club, you now need to unlock and claim a Maker Medal.
You can dive straight in and claim your medal now: Rep3 - Maker Medal
But we encourage you to read on further to understand how the program works
How It Works
As a Market Maker on Trader Joe, you can choose to participate in the Liquidity Book Rewards Program by providing liquidity into any tagged ‘Rewards’ Liquidity Pool. Participating in these pools will see your performance scored and ranked over the duration of the defined Epoch. Achieving a high enough rank, comes with perks such as Reward tokens from the program and community benefits such as, gaining access to the coveted Makers Club channel in the Trader Joe Discord. Membership to this exclusive community is a badge of honor, distinguishing you as a top performer in the market-making landscape.
For more information on how this program works you can visit this page:
Upon gaining entry to the Makers Club, you are entitled to claim your Maker Medal. This digital soulbound badge of honor, serves as a testament to your accomplishments as a Market Maker.
Evolving Your Status
Your Maker Medal isn't just a static symbol; it’s a testament to your achievements. By actively participating in the Liquidity Book Rewards Program, you have the opportunity to evolve your Maker Medal, enhancing its status and, concurrently, your standing within the Maker Club.
The scoring system for this Medal is straightforward:
Participation Score: Engage in Epochs to increase your participation score and unlock new medal rarities.
Reward Score: Amass a higher amount of rewards ($) to elevate your reward score and unlock new medal tiers.
Increasing both your participation score and your reward score, will level up your Maker Medal to the very exclusive heights of the Maker Club. This progression isn’t just a sprint; it's a marathon. Your progress is tracked over a rolling period covering approximately 12 Epochs, equivalent to ~6 months. This ensures that only the most dedicated and successful Market Makers can rise to the top.
Below you can find a full framework of how the Maker Medal can be leveled up, please note this is an automatic process. Your dynamic NFT will update itself every ~2 weeks as per each Epoch of the Liquidity Book Rewards Program.
Scoring Framework
Participation Score is counted by the number of Epochs you participate in, these can be any amount of Epochs over a rolling 12 Epoch period, and they do not have to be sequential, your Maker Medal will always track the most recent 12 Epochs.
Reward Score is the dollar value of JOE rewards received across Epochs. Please note that any additional reward tokens earned in any Epoch, is not counted in this scoring framework. Due to potential changes in the amount of JOE tokens distributed across epochs, this scoring criteria may increase or decrease.
Other Information
Rep3 is a new experience in DeFi and therefore, the Maker Medals will initially live on Polygon, with future support expected for more chains soon (such as Avalanche and Arbitrum). When a new chain is supported, the Maker Medals will undergo a burn and mint process so all Market Makers will have the opportunity to transfer their Maker Medal onto their respective favourite chain.
Your Maker Medal is soulbound and cannot be traded
Legacy Market Maker Ranks
The Maker Medal system will replace the old Market Maker Ranks in the Trader Joe Discord. If you unlocked any of the 4 possible ranks, these will be removed from the Guild Community and kept as legacy roles that are no longer attainable.
The Top Market Making role will also migrate with a new purpose, becoming part of the weekly Community Heroes Program.
Important Links
Join the Trader Joe Guild to unlock Maker Club access
View your Maker Medal: Opensea on Polygon
About Trader Joe
Trader Joe is a leading multi-chain decentralized exchange and the inventor of Liquidity Book, the most capital efficient AMM in DeFi. Trade your favorite tokens, access one-click yield farming and shop for the latest digital collectibles at the Joepegs NFT Marketplace. DeFi has never been easier thanks to Trader Joe.