What is Trader Joe (JOE)? Detailed information from A to Z of Trader Joe and JOE Coin projects
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What is Trader Joe (JOE)?
Trader Joe (JOE) is an AMM -based decentralized exchange projectrunning on the Avalanche blockchain platform. Trader Joe has many similarities with previous AMM platforms such as Uniswap , Pancakeswap, etc. In terms of competition, because there are not many DEX platforms on AVAX, Pangolin is also a direct competitor of this platform.
Trader Joe was founded in June 2021 by 0xMurloc and Cryptofish. The platform was created with the goal of creating a unique trading platform that takes advantage of the Avalanche blockchain , while bringing decentralized finance for development to the masses. Since its launch, Trader Joe has attracted more than $1.5 billion in assets as well as the backing of many established investors in the Crypto market.
The platform's vision is to build a trading platform that provides users with a true "one-stop" DeFi experience.
Trader Joe's Highlights
Some advantages on Trader Joe can be mentioned as:
- “1 Click” Short Tool: the platform provides a simple, integrated tool to allow DeFi users to short sell in an automated trade. Users can view relevant metrics (price impact, slippage, ...) directly on the interface, and easily manage and update their positions on the dashboard.
- Permissionless Currency Market: Trader Joe allows users to create a currency market for any ERC-20 token automatically, supporting long tails of assets. Anything from fractionated NFTs to mature tokens can be listed on Trader Joe.
- Isolated Collateral Model: To support volatile assets, the platform introduces an isolated collateral model where the user is only responsible for collateral explicitly linked to a single entity. mind.
Features on Trader Joe
Initially, Trader Joe focused on developing DEX features with AMM mechanism, after a period of strong development, Trader Joe now has many other DeFi features such as Lending , Yield Farming, Staking, Liquidity. Specifically:
Trading on Trader Joe
An exchange is a place where you can trade tokens simply, just select the two tokens you want to exchange to be able to successfully swap quickly.
The liquidity provided to the exchange comes from liquidity providers (LPs), who stake their tokens into “Pools” for users to swap. In return, they receive LP (Liquidity Provider) tokens, which can also be staked to earn JOE tokens in the “farm”. When you make a transaction on the exchange, you will pay a transaction fee of 0.3%, broken down as follows:
- 0.25% – Paid to liquidity pools as trading fees to liquidity providers.
- 0.05% – Sent to JOE token token farm
Liquidity Pool Trader Joe
Users can become Liquidity Providers (LPs) by simultaneously adding 2 types of tokens to the Pools (eg AVAX and JOE). When providing liquidity, people will get LP to farm and earn JOE.
You can view the project's instructions here
Yield Farming Trader Joe
Deposit LP tokens received for providing liquidity (above feature) to the farm to earn more profit. Additional profits are rewarded with $JOE Tokens. As you keep depositing JOE Tokens into the Pools, you also continue to earn Trading Fees from the liquidity pool
You can see the project's Farm guide here
Staking Trader Joe
Users stake tokens on the platform to participate in several mechanisms:
- Stake JOE to rJOE: Unlock the ability to participate in Rocket Joe: Liquidity Launch Platform
- Stake JOE to sJOE: Earn Stablecoin rewards by sharing the revenue generated on the platform
- Stake JOE to veJOE: Get JOE rewards that increase profits in Selected Farms + Governance
Lending Trader Joe
Trader Joe is a one-stop decentralized trading platform on Avalanche . Banker Joe is Trader Joe's lending protocol based on Compound protocol. The lending protocol can be combined with a decentralized exchange to provide unattended leveraged trading.
Rocket Joe Trader Joe
Rocket Joe is a liquidity support platform that owns the bootstraps protocol (POL). This is an innovative way to launch a protocol, we consider it a 'DeFi 2.0' Launch Platform.
Find out the participants here
Information about JOE Coin
JOE is the project's native token, users can use JOE with many functions as mentioned above.
JOE Basic Information:
- Name: Trader Joe
- Ticker: JOE
- Blockchain: Avalanches
- Token Standard: ARC-20
- Contract: 0x6e84a6216eA6dACC71eE8E6b0a5B7322EEbC0fDd
- Token Type: Utility, Governance
- Maximum total supply: 500,000,000 JOE
- Supply of Circulation: 180,673,433 JOE
JOE Allocation (Token Allocation)
- Liquidity Provider: 50%
- Treasury: 20%
- Developer Team: 20%
- Future Investors: 10%
Release Schedule JOE (Release Schedule)
The amount of JOE issued will decrease over time until it is fully unlocked in January 2024
Roadmap Trader Joe
The Platform is committed to driving the continued expansion of the Avalanche Ecosystem. Trader Joe will become the hub for DeFi innovation and especially the NFT & Metaverse trend on Avalanche Blockchain. To support this ambition, the foundation is now in the process of doubling down on its engineering, research, and quantum team. Trader Joe will nurture and accelerate Metaverse's emerging consumer trends, thanks to DeFi's natural synergies.
Quarter 1 of 2022:
- Rocket Joe : DeFi Innovation for Decentralized Exchanges
- Tokenomics : Reduce selling pressure, return value
- Decentralized Marketplace : Support NFT/Metaverse Trends on Avalanche
Trader Joe project development team
The team developed with the participation of many members of the Avalanche community.
Co-Founders
You can follow the full project team here
Invest Trader Joe
The strategic sale was led by Defiance Capital, GBV and Mechanism Capital. Other angel and VC investors include Not3Lau Capital, Three Arrows Capital, Coin98 Ventures, Delphi Digital, Avalanche Foundation, and Stani Kulechov. The investment round also includes strategic partners Avalaunch and Yield Yak from the Avalanche community.
With new capital in hand, Trader Joe plans to expand their team to continue building their trading and lending platform, as well as support the entire Avalanche DeFi ecosystem through a partnership continuity.
Above is information about the Trader Joe project synthesized by Hay Mod Game , hope that the information will help you in the investment research process. Check out other articles on the site.