Learn how Trader Joe used Rep3 to strengthen their Liquidity Rewards program.
Trader Joe stands out in the decentralized exchange space, offering a comprehensive range of DeFi solutions. Known for its seamless integration of trading, farming, and staking options, Trader Joe is a favorite among DeFi enthusiasts for its user-friendly platform and innovative features.
Trader Joe's ambition extends beyond traditional DeFi offerings. The Liquidity Book Rewards Program was a bold step towards redefining liquidity provider incentives. This program focuses on rewarding liquidity providers (LPs) based on the fees they generate, encouraging active and sustained market participation.
Trader Joe introduced Maker Medals within the ambit of this program by using Rep3. The Maker Medals recognize the contribution of community members based on duration and fee generation as calculated by the Liquidity Book Rewards Program.
These medals are more than accolades; they unlock access to the exclusive Makers Club, adding a new dimension to the LP experience.
Members are rewarded on two criteria — the fees they generate, and the number of epochs they participate in. There are 36 tiers, or in other words, 36 different types of Maker Medals people can receive, ranging from tier 1 that is won after earning <$250 in fees and participating in 1 epoch, to tier 36 that is won after earning >$5,000 in fees and participating in 11 epochs.
Trader Joe’s campaign to give Maker Medals to its members
Custom Community Space, Leaderboards and more
Like many other communities on Rep3, TraderJoe also has its custom community space that offers its members a portal to claim their rewards, know more about levelling up and see where they stand in the leaderboard. Using Rep3 greatly simplified the user experience, and brought together all current and future campaigns in a powerful way to motivate deeper engagement.
Trader Joe’s leaderboard
Trader Joe in Numbers From its inception as an experiment in Feb. 2023 to becoming the cornerstone of Trader Joe's community engagement strategy, the Liquidity Book Rewards Program has seen remarkable growth and success. This innovative approach by TraderJoe, especially after they introduced Maker Medals through Rep3, has reinforced the bond between TraderJoe and its community.
Trader Joe in Numbers
Since its launch, around 300 Maker Medals were claimed of which 200 medals were upgraded in the past three months. This statistic, which is only trending upwards, showcases how the Makers Club and subsequently the Maker Medals are great tools to boost community participation organically.