Introduction
JOE is a decentralized exchange on the AVAX ecosystem that offers DeFi services, including swapping, staking and yield farming. Trader Joe aims to provide comprehensive DeFi experience and to integrate new projects without compromising on security.
Overview
JOE is the native token of Trader Joe, a decentralized exchange operating on the Avalanche blockchain. This platform offers a range of decentralized finance (DeFi) services, including swapping, staking, and yield farming.
JOE operates within the Trader Joe platform, offering a range of functionalities. Users can participate in yield farms by providing liquidity and receive JOE as a reward token. This token can then be staked and used to vote in governance proposals. Trader Joe also features a lending protocol, Banker Joe, based on the Compound protocol, which allows users to borrow and lend funds in a non custodial manner. Users can also open leveraged positions on their provided or borrowed funds. Joe is working on introducing several new options to increase the utility and adoption of the JOE token.
Background
Trader Joe was launched in June 2021 by Cryptofish and 0xMurloc, two pseudonymous developers with backgrounds in full stack and smart contract engineering. The platform attracted over $4 billion in total value locked (TVL). The JOE token was launched without a pre sale, private sale, or pre listing allocations, with a total supply of 500 million. The distribution of JOE is as follows: 50% to liquidity providers, 20% to the treasury, 20% to the team, and 10% to future investors. The emission rates of JOE are designed to decrease over time.
Tokenomics
JOE (JOE) is the native token of Trader Joe, JOE is ranked 216 with a market cap of €184.6M. Over the last 24 hours, it saw €30.3M of trading volume. The token has a circulating supply of 341.5M tokens out of a total supply of 499.7M tokens.
The initial distribution of Trader Joe (JOE) tokens is as follows:
50.00% is allocated to Liquidity Providers (LP)
20.00% is allocated to Treasury
20.00% is allocated to Dev Team
10.00% is allocated to Future Investors
The initial token launch date for Trader Joe (JOE) is 3 Jul 2021. The max supply of this token is capped at 500,000,000. The supply of JOE is expected to be fully released on Feb 2024.
Store or use your JOE in Binance. Now that you bought your crypto, you can store it in your personal crypto wallet or simply hold it in your Binance account. You can also trade for other crypto or stake it on Binance Earn for pJOE tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade JOE is Bitunix, Other popular options include Binance and MEXC
Features and Functionality
The special feature of Joe is that it combines DEX and Lending & Leveraged Trading, which helps to promote liquidity and attract more money to flow into the project.
It also operates within the Trader Joe platform, offering a range of functionalities. Users can participate in yield farms by providing liquidity and receive JOE as a reward token. This token can then be staked and used to vote in governance proposals.
Risks and Challenges
- Can be difficult for beginners to access.
- Discord is the only security option
Advantages
- Staking, yield farming, lending, and other features are available.
- Its a fully decentralized platform
- Low trading costs at just 0.3%
- It can provide you with a variety of different passive income opportunities.
Conclusion
JOE is a leading decentralised exchange on Arbitrum, Avalanche and BNB Chain.
On the Trader Joe platform users can swap tokens, provide liquidity, yield farm and also shop for NFTs at the Joepegs Marketplace.
The Trader Joe DEX is powered by the Liquidity Book Automated Market Maker, the most efficient and versatile AMM in DeFi.
JOE is the native governance token that also receives a share of trading fees collected by Liquidity Pools.
Sources:
https://traderjoexyz.com/avalanche
https://www.theblock.co/price/256984/joe-joe-eur
https://coindcx.com/blog/listings/what-is-joe
/https://bitedge.com/crypto-exchanges/trader-joe-crypto-review/
