Dear Trader Joe Community. Today has been a day like no other. For many of you, this is your first black swan event in crypto.
11 May 2022, 08:29
Dear Trader Joe Community
Today has been a day like no other. For many of you, this is your first black swan event in crypto. The whole market has tumbled dramatically and it's been incredibly scary to watch.
The big question we want to answer first is: "will $JOE survive?" .... The answer is a resounding yes.
Our treasury has a mixture of $JOE, $AVAX and $USDC, which have never been used for any high-risk strategies. We have enough runway to pay our large team of 26 to survive such market conditions. And most importantly, our founders do not engage in active trading.
How about $AVAX as a whole? .... Despite market conditions, the #Avalanche ecosystem is still thriving.
We recently saw the launch of joepegsnft and YetiFinance And soon we will get our first native perpetual protocol Hubble Exchange Innovation is happening on Avalanche.
The bond within our community is also incredibly strong. Only two months ago we had our first #AvalancheSummit in Barcelona, which was a complete blast. And we hear there will be a few more in the coming months.
In addition to all this, we are working closely with el33th4xor, kevinsekniqi, luigidemeo to ensure this ecosystem continues to grow. So we have absolute full confidence that recent events will not divert the path of $AVAX or $JOE.
✨