GM, this is your Daily Bolt briefing
In today’s edition, we’re providing you with some information on Factor DAO, a project providing infrastructure for creating no-code DeFi protocols, and their v2.
Also learn about Trader Joe, and the DEX’s implementation of limit orders.
Stay vigilant in the markets ⬇
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Preview: Blue, DavideFiand Kurapika discuss the partnership between Factor and Trader Joe and the developments in Trader Joe. Click here to listen to the full episode (52 mins).
Read our Note (2 mins) and save 50 mins.
Introduction to Factor
Blue describes Factor as a protocol that offers users the ability to use infrastructure to build new products, strategies, and vaults.
He says that Factor is a composable and exciting platform that offers users new building blocks for the Arbitrum DeFi ecosystem.
Kurapika talks about Factor's role in connecting DeFi strategies with capital that wants to generate yield.
He says that the integration of partners like Trader Joe into Factor's system and offerings make the protocol more valuable and with Trader Joe's limit orders, more strategies can be utilized on Factor.
Limit Orders on Trader Joe
DavideFi talks about the functionality of limit orders on the Trader Joe platform. He says that limit orders are a type of order to purchase or sell a cryptocurrency at a specific or 'limit' price. He adds that this allows users to set a price at which they are willing to buy or sell, providing them with control over the prices they trade at.
He emphasizes the speed and accuracy of the execution of these limit orders at Trader Joe. He says that the trades are executed at the actual fair price that happens on every blockchain. He adds that the fair price is the equilibrium price for the asset in the decentralized market, and it's determined by the supply and demand dynamics of the asset.
He says that the trades follow the price as the execution of the limit order is triggered when the market price of the cryptocurrency reaches the price specified in the limit order.
He adds that once the trade is executed, the price then goes wherever it wants because it's a free market.
Factor v2
Kurapika talks about Factor v2, which is about allowing users to create their own DeFi protocol using a no-code platform. He says that with Factor v2, users don't need to have coding skills to build their own DeFi strategies, so it makes the platform more accessible to a wider range of users.
He says that users can select how to stake, when to unstake, and set up limit orders to make their build strategy more efficient. He adds that this gives users a high degree of control over their DeFi strategies, allowing them to optimize their returns.
Kurapika says that the aim of Factor v2 is to democratize access to DeFi knowledge and strategies as he says that Factor v2 is designed to make DeFi more accessible to the general public, not just those with specialized knowledge in the field.
Kurapika says that Factor v2 is currently in audit and will soon be available for users to play around with the UI and submit strategies.
Integration of $sJOE in Factor Platform
DavideFi says that sJOE is a simple staking solution offered by Trader Joe.
Kurapika talks about the integration of sJOE into the Factor platform. He adds that this integration means that users can now use sJOE within the Factor platform, expanding the range of assets and strategies they can use.
He says that the integration allows users to auto-compound their USDC rewards, optimizing their returns.
Kurapika says that more vaults by Trader Joe are coming soon.
Factor Scale
Kurapika brings up Factor Scale, a feature that allows community members to vote on different tokens and vaults. This democratic approach empowers the community to have a say in the direction of the platform.
He says that Factor Scale allows users to boost their Annual Percentage Yield (APY) or yield thus, users can potentially earn higher returns on their investments based on the community's decisions.
He emphasizes that Factor Scale allows the community, especially the veFCTR holders, to directly affect where the APY boosts will go.
Future Perspective
DavideFi talks about the future outlook of Arbitrum as he says that Arbitrum is making DeFi more accessible and simpler for users, which is a key goal for both Trader Joe and Factor.
Kurapika talks about the potential of multi-chain transactions and the abstraction of bridges for a seamless user experience.