Trader Joe Partners with Savvy to utilize the power of Liquidity Book
Savvy will be the first protocol to host their own version of an initial farm offering (IFO) by utilising Liquidity Book. For more information on the IFO, see this blog post.
Savvy will initially utilize Trader Joe for exclusive liquidity provisioning, unlocking the innovative and efficient design of Liquidity Book to power greater capital efficiency for the $SVY token. Savvy will also leverage zero-slippage trading possibilities for Savvy’s synthetic soft-pegged assets.
What is Savvy?
What's Savvy? It's a platform where users can secure auto-repaying, interest-free, non-liquidating credit lines, backed by the future yield of their collateral like ETH, WBTC, and stablecoins. This immediate credit can be utilized in DeFi, to buy NFTs, for gaming, and more. It's underwritten by the collateral's future yield. Savvy offers a safe and efficient leverage mechanism.
Boosted Rewards
During the IFO, Savvy is offering boosted rewards for the Trader Joe community from a reserved SVY pool! All JOE holders are eligible for the boost as long as you hold an ‘IFO Boost NFT’ which can easily be obtained by following the below link:
To mint the IFO Galxe NFT go here: IFO Boost Galxe NFT 👈
The Savvy Trader
Savvy is an incredibly exciting innovation for the Arbitrum DeFi space and Trader Joe will closely partner with the team to provide market-leading liquidity provisioning support for the native governance token $SVY, as well as support liquidity for the synthetically tied assets.
Synthetically tied asset pools will be supported initially:
svUSD-USDC
svETH-WETH
svBTC-WBTH
Wrapping Up
The IFO is starting Tuesday, June 13 so make sure to join the Savvy Discord for more details on how to participate and receive your boosted rewards and join us for the next Trader Joe Community Call on Tuesday, June 13 at 3pm ET / 7pm GMT as we chat to the Team.
What’s a partnership article without some fancy quotes?
“The Trader Joe team has a track record of innovation, releasing the most notable cross-chain DeFi primitive to date, the Liquidity Book. The Savvy and Trader Joe team align on building community through NFT community outreach and development, and beyond their stellar products, the Trader Joe team has been collaborative and insightful. We couldn’t be more excited to be partnering with them.” - Roman Giler, Project Lead at Savvy
The Savvy team have embodied the values of Trader Joe with their hands-on approach to community building and NFT community outreach. They are passionate, driven and ushering in synthetic and highly capital efficient innovation for the DeFi space. That is everything Trader Joe loves to see. - Blue, Marketing and Community Lead at Trader Joe.
About Savvy
Savvy DeFi is a decentralized credit platform that lets anyone take out an auto-repaying, interest-free loan against their crypto (including BTC, ETH, and stablecoin derivatives) without liquidation risk. Savvy users can safely leverage their cryptocurrency holdings through a credit advance backed by their tokenized future yields.
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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.