AMM-based Trader Joe is an Avalanche blockchain-based DEX. The native token of Trader Joe is called JOE (JOE crypto), a decentralized exchange (DEX) running on the Avalanche (AVAX) blockchain that provides DeFi features like yield farming, trading, and staking.
A Comprehensive Guide to Trader Joe Crypto – 2023
Since its introduction in June 2021, the exchange has had significant growth, bringing in over $4 billion in total value locked (TVL). Trader Joe asserts that it prioritizes innovation, speed, and safety and adopts a community-first philosophy.
It seeks to integrate new goods while maintaining security and offering a one-stop DeFi experience. Trader Joe has developed an ambitious strategy with a growth-oriented focus on token-holders to accomplish this. The JOE token will be collateralized, better staking, non-fungible token (NFT) exchange listings, and leveraged trading will be planned.
Trader Joe is based on the blockchain known as Avalanche (AVAX), which uses a directed acyclic graph (DAG) protocol to process and validate transactions across all nodes. Although the Trader Joe community intends to set up a multi-signature governance structure in the future, the treasury is presently under the control of its developers, Cryptofish and 0xMurloc. Token owners can currently use Snapshot to vote on how the protocol will be developed.
What Sets Trader Joe Apart from the Rest?
With a convenient user interface, quick and affordable transactions, and all the features of a contemporary DEX, Trader Joe offers it all. By taking part in one of its yield farms, users can contribute liquidity in exchange for JOE (JOE), a reward token that can be staked and used to cast votes on governance proposals. Users can borrow and lend money using its non-custodial lending protocol, Banker Joe, which is based on the Compound (COMP) protocol. Users may also open leveraged trades using funds that they have contributed or borrowed.
To increase the utility and adoption of the JOE token, Trader Joe is working on introducing several new options, which are aimed at transforming the project into the main DeFi platform within the Avalanche ecosystem. First of all, users will be able to use JOE as collateral to borrow against. Moreover, Trader Joe also plans to facilitate limit orders, options, and futures trading on its platform. Thanks to the speed of its innovation and strong comic book-like branding, Trader Joe has attracted strong backers from within the DeFi community, including from AAVE (AAVE) founder Stani Kulechov and Darren Lau.
Team Members of Trader Joe Crypto
The core team of the project consists of three people with extensive experience in the sector.
Cryptofish (Co-Founder)
Several Avalanche ventures, including Snowball, Pandaswap, and Sherpa Cash, were founded by him. He most recently held positions at a derivatives-focused CEX and Google.
0xmurloc (Co-Founder)
At Trader Joe (JOE), he is primarily in charge of the merchandise and programs. He has started numerous businesses and most recently worked as Grab’s Senior Product Manager.
Hruday (Frontend Engineer)
Through the DAO developer collective RaidGuild, Hruday, a frontend engineer with more than five years of expertise, has contributed to a number of cryptocurrency projects.
Tokenomics
500 million JOEs (JOE) are available in total. Without a private sale, pre-listing allocations, or pre-sale, the token was introduced. JOE is distributed as follows:
- 50% – Liquidity Providers
- 20% – Treasury
- 20% – Team (Three-Month Cliff)
- 10% – Future Investors (Three-Month Cliff)
The 30-month emission of JOE crypto pays out 0.05% of all transactions to JOE stakeholders. JOE also contributes to the staking pool a portion of the fees from lending interest and liquidations. The beginning of January 2024 will mark the conclusion of JOE crypto‘s emission rates, which have been declining over time.
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