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JOJO Exchange, a decentralized perpetual contract trading platform, has launched on the Arbitrum network, offering advanced features and planning for absolute decentralization and a governance token. However, community reactions are mixed, with concerns about the platform's intentions, value to the ecosystem, potential reward mechanism manipulation, and lack of retention strategies post-reward period.
This discussion primarily revolves around the introduction and deployment of JOJO Exchange, a decentralized perpetual contract trading platform, on the Arbitrum network. The platform offers a range of features including an order book without the need for spot reserves, multi-asset collateral feature for zero-interest borrowing and lending, and a highly flexible sub-account system. They have also launched a neutral strategy contract trading robot and plan to develop more features based on user demand. The project has requested a grant size of 200,000 ARB to incentivize the acquisition of new users and drive growth in trading volume. The protocol has plans for absolute decentralization and the launch of a governance token. The team is prepared to create Dune Dashboards for their incentive program and provide bi-weekly updates on the Arbitrum Forum thread.
The community reaction to the introduction of JOJO Exchange and its proposal for a grant is mixed. While the platform has achieved a significant trading volume, indicating its popularity within the DeFi ecosystem, there are concerns and skepticism from some community members about JOJO's intentions and value to the Arbitrum ecosystem. Some users have proposed a gas refund of 5% of the $ARB grant, allocating 10,000 $ARB to cover on-chain order confirmation costs for users. However, there were concerns about the lack of mechanisms to keep people on Arbitrum after the end of the reward period and the potential manipulation of the reward mechanism.
The introduction of JOJO Exchange to the Arbitrum network is a positive development as it offers a user-friendly trading environment with advanced features. The platform's plans for absolute decentralization and the launch of a governance token, along with its commitment to transparency and user engagement, are also positive aspects. The proposed grant will further incentivize user acquisition and trading volume growth, contributing to the overall growth of the Arbitrum ecosystem.
Despite the positive aspects, there are concerns about the lack of mechanisms to keep people on Arbitrum after the end of the reward period. Some users also expressed skepticism about JOJO's intentions and value to the Arbitrum ecosystem. There were also concerns about the potential manipulation of the reward mechanism and the eligibility criteria for ARB. The initial proposal's use of the grant for marketing and development purposes, and the dropping of two chains just to apply for the grant, were also points of contention within the community.
Posted 2 months ago
Last reply 2 months ago
Summary updated 24 days ago
Last updated 03/12 08:01