What is this about?

This discussion revolves around the significant growth in key metrics such as Total Value Locked (TVL), trading volume, and fees accrued to Liquidity Providers (LPs) since the initiation of ARB incentives on the Arbitrum platform. Traderjoe attributes this growth to the incentives grant received from the Arbitrum DAO¹. The plan for the remaining ARB includes Maker Rewards and Auto-Pool Yield Farms, with the incentives plan covering Phase 1 (4 weeks) running up to the 1st of December¹.

How is the community reacting?

The community is reacting positively to the growth and the comprehensive program overview shared by Traderjoe. The average 14-day Total Value Locked (TVL) was $35m, showing a 31% increase. The average 14-day daily volumes were $28m, a significant 95% increase. The total unique user addresses over the same period were 16k, a 36% increase, and the average daily transaction fees were 41k, a 145% increase¹. Digijoe7, the delegation lead for the Trader Joe Governance Council, encouraged the community to continue supporting the platform².

Why this is positive?

The positive aspect of this discussion is the significant growth in key metrics and the increase in interest from builders in deploying new protocols and/or tokens on Arbitrum. The incentives plan includes the distribution of ARB tokens in various categories, including Native Tokens, Multi-Chain Tokens, New-To-Arbitrum Tokens, and Auto-Pool Yield Farms. The distribution will take place from the 18th to the 1st of December, marking the end of Phase 1 of the program¹.

Why this is negative?

The negative aspect of this discussion is the report of a Liquidity Provider linked to a small cluster of wallets engaging in wash trading activity. As a result, Traderjoe has implemented a strict enforcement of fair play rules to ban and prevent any such activity from receiving any ARB rewards. Any manipulative practices will result in exclusion from receiving rewards for the current and future Epochs. Three wallets have been identified and will be banned from receiving rewards¹.