What is Trader Joe? Overview of DEX Trader Joe and cryptocurrency JOE

Trader Joe project overview

1. What is Trader Joe?

Trader Joe is a decentralized cryptocurrency exchange (DEX). We are already familiar with DEXs like this. Each network will have a representative DEX with a good trading volume T (Total locked value) maximum.

For example, on Ethereum we have uniswap good on Binance SmartChain we have Pancake swap… And Trader Joe is a DEX that is seen as a fork, inspired by Uniswap and deployed on blockchain Avalanche.

Although this is a new system in operation, it has already become AMM The DEX has the largest TVL in Avalanche. According to DefiLlama, Trader Joe’s TVL at the time of writing hovers around $2.16 billion.

2. 4 features on Trader Joe

As a post-development platform, Trader Joe is said to have integrated and developed many features to provide a better and more optimal user experience. Here are the features that you are sure to enjoy.

Swap: Swap is a single feature of DEX solutions. However, with this feature, Trader Joe has integrated a candlestick chart to help users more intuitively know the token price and trade.
Liquidity: With this feature, users can easily liquidate, and convert it into money or another coin. At the same time, this feature also helps users to earn profits from traders paying for the exchange. With 65 different token pairs, users can increase profits and convert more easily.
Zap: Trader Joe allows users to swap tokens for a liquidity provider token (LP token) with 1 click. During the execution of the swap, there is bound to be a small slippage in the execution.
Farming: This is one of the features that you click to join a certain farm in the system, through staking LP tokens to receive JOE tokens back. Users can get their tokens back when they want.

3. Project development team, partners and investors (Team & Backer)

About the team, Trader Joe is run by two main members nicknamed 0xMurloc and Cryptofish. They are all engineers with experience working at Google, Grab,…

Cryptofish: He is a co-founder and holds a master’s degree in Computer Science in the United States. He has experience working at Google. He was an early contributor to projects like Avalanche’s Snowball and Sherpa Cash.
0xMurloc: Co-Founder and full-stack devlopment with product management expertise. He used to be the senior product manager of Grab. This is Trader Joe’s product and programs manager.

On the side of the project’s investors, there can be a number of current floating funds such as Three Arrows Capital, Avalanche, Coin98 Ventures, Delphi, etc. In addition, Trader Joe has a huge community to support development, marketing and communication.

4. Development Roadmap (Roadmap)

Trader Joe launched in June 2021 with the following development roadmap:

Stage I: Improve and perfect Trader Joe’s decentralized exchange.
Stage II: Include loan transaction and leverage system.
Stage III: Development phase with a long-term vision to become DeFi’s R&D hub. Including orders such as limit orders or futures, etc.

Trader Joe’s JOE Token

The JOE token is the native platform of Trader Joe.

1.General information about the JOE token

First, the JOE Token has a fixed supply and will be distributed out in decreasing volume. In it, it is divided into many different sections for administrators or investors, etc. Here is some information about JOE token.

Token name: Trader JOE Token (JOE).
Blockchain: Avalanche.
Token Standard: ARC-20.
Contract: 0x6e84a6216eA6dACC71eE8E6b0a5B7322EEbC0fDd.
Initial total supply: 500,000,000 JOE.
Circulating Supply: 67,188,584 JOE.

2. What is the JOE token allocation plan?

The amount of JOE supply will decrease year by year, starting from July and ending in January 2021.

In which, JOE is distributed as follows:

Liquidity provider: 50%.
Treasury: 20%.
Dev team: 20%.
Future investors: 10%.

3. What is the JOE token used for?

The JOE token is used in a number of cases as follows:

JOE token holders can vote on community proposals to make changes to the protocol in the future.
Join staking JOE to receive xJOE, in which the revenue from trading and lending will be distributed to xJOEs.
Pay a transaction fee when doing it on the Trader Joe platform.

4. Store wallet, token exchange JOE

About the exchange: Currently, JOE tokens are traded on decentralized exchanges (DEX) such as Pangolin, Trader Joe or some centralized exchanges (CEX) such as Gate.io, BKEX, etc.

About storage wallet: To store JOE tokens, users can use hot wallets of the above CEX exchanges or some mobile wallets that support the ARC-20 token standard such as Avalanche Wallet, Dappradar, Coin98 Wallet,….

Should I invest in the Trader JOE project and the JOE token at this time?

The DeFi market is growing and attracting many projects and users. The proof is that the TVL of the entire market has spiked to more than 275 billion USD at the moment. And DEXs are considered as a bridge to help bring money into this market.

Each different network will have its own representative DEX. And at the moment, Trader Joe is the largest DEX on Avalanche. The first mover advantage makes Trader Joe attractive to investors and traders. Trader Joe’s job now is to provide optimized products that help users solve their problems.

In addition, with the support of some large backers is also one of the advantages of this project. If we look at the profolios of the above backers, it is not difficult for us to find successful projects with their contribution. Hope Trader Joe also inherits these advantages.

Conclusion

Trader Joe is a newly started project, but perhaps the above advantages have quickly helped the project become the top DEX on Avalanche. This also partly helps the above JOE token to attract more investors.

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