Trader Joe Enters The Arena
Trader Joe has long been a participant in The Arena, the pioneering SocialFi platform that is building on Avalanche, dedicated to empowering content creators with the defining value propositions that Web3 brings us all. This partnership announcement is therefore one that marks a beginning of a collaboration between the leading DEX with the leading SocialFi platform building their homes on Avalanche.
V2: For the People
The Arena has recently launched its V2, a first step in the road to introducing a wider range of tools and feature-rich experiences that are designed to help content creators monetize their efforts. The Arena’s ambitions extend far and this pioneering SocialFi platform is gearing up to challenge the established giants of the Web2 social media landscape we know today. With a clear value proposition rooted in SocialFi and by leveraging the tech of the Avalanche Blockchain, The Arena is crafting a platform that promises to democratize and enable the opportunities for the monetization of content creation for the masses…Create content? You’ll wanna be active in The Arena.
$ARENA - Exclusive to Trader Joe
As part of this partnership, Trader Joe will be welcoming $ARENA to the Trader Joe DEX. A long-awaited and much-anticipated part of The Arena’s ecosystem, the $ARENA governance token, is coming to the Avalanche C-Chain and will debut exclusively on Trader Joe. Stay tuned for further announcements!
$ARENA will be utilized Liquidity Book as part of their on-chain liquidity strategy, ensuring users that want to trade ARENA get low-cost and instant swaps whilst also serving Liquidity Providers of ARENA with the most flexible and easy to use concentrated liquidity protocol in DeFi. Following $ARENA’s initial launch phase, JOE rewards will also be supplied to the ARENA LP via the Market Making program built by Trader Joe.
Native Swapping
Part of The Arena’s overall plans towards building a truly immersive Web3 Social experience, will see use of a natively integrated swapping mechanism. Users in The Arena to perform swaps that route via Liquidity Pools across the Avalanche C-Chain, including the Trader Joe DEX. Go ahead and give it a try by posting ‘$JOE’, you’ll then be able to click a button in your post which will bring up a native swap panel.
Tip and Receive JOE
The JOE token will also be making its way into The Arena, giving users the ability to tip and receive JOE tokens during their Arena activities. As part of this token integration, Trader Joe has provided 15,000 JOE tokens to The Arena’s March Madness campaign. Make sure you follow the Trader Joe official account for near-term future JOE tipping fun.
Badges
One of the most exciting features of The Arena are ‘Badges’ which are account-unlocked achievements. The Arena will launch two badges linked to the Trader Joe ecosystem:
Memecoin Rush: Diamond Hands Badge — Awarded to users who have staked and maintained their staked positions throughout the entirety of Memecoin Rush (Phase 1 + Phase 2) and attained the Diamond Hands achievement
To claim your Diamond Hands badge the wallet linked to your Arena account to claim your future ARENA airdrop will need to be the Diamond Hands eligible wallet.
Smol Joe OGs Badge — Reserved for the original 100 Smol Joe token holders
Avalanche Attestations
The Arena will be the very first dApp on Avalanche to utilize the Avalanche Attestation Protocol for verifying key user actions and behaviors. The first attestation launched on the Avalanche blockchain, will confirm wallets that receive the ARENA airdrop. There will also be an attestation for users who supply liquidity to the ARENA-AVAX Liquidity Pool.
An attestation is a formal on-chain verification that a wallet has performed and completed a specific task. It serves as a way to validate truth and can be a powerful form of social validation. Attestations can be seen as lifelong achievements that may go on to provide access to benefits or other rewards, depending on the attestation and the perceived value. These attestations will serve as a powerful way to enable The Arena to select a verifiably authentic group of day-one ARENA users.
In The Arena, Together
Both Trader Joe and The Arena are committed to closely collaborating to further the growth of Socialfi and more broadly the adoption of DeFi, with roots that are firmly grounded to Avalanche. If you’re not yet in The Arena, your time to join is now, the revolution of SocialFi is just starting: Access The Arena.
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.