Project
Trader Joe is a decentralised platform running on the Avalanche Network. Since the foundation of the platform in 2021, many services have been developed and launched which makes the platform the most noteworthy Avalanche DEX. The target of the platform is to become the reference for providing investment tools on the Avalanche blockchain.
The biggest features to be found on Trader Joe:
Lending: It is possible to lend and borrow many tokens on Trader Joe such as AVAX, WETH.e, WBTC.e and more. When using this service, users will have a borrowing limit, and be required to deposit collateral. Interacting with the lending function may also return JOE Rewards.
Staking: It is possible to stake JOE tokens to enjoy boosted utilities on the platform. They can allow to boost returns on the Farms or participate in Launchpad Opportunities for example.
Exchange: The “trade” page of Trader Joe enables users to swap from one token to another on the AVAX blockchain. One of the features of the AVAX blockchain is that it allows transactions to be processed with low fees.
NFTs: Their marketplace “Joepegs” is an NFT marketplace, where users can buy and sell NFTs of many different creators.
New token Launchpad: Launchpads are great opportunities to discover tokens before anyone else. By staking rJOE, users are able to participate in the future launches of tokens on Trader Joe.
Similar to what PancakeSwap is to the Binance smart chain, Trader Joe is a Decentralised, user-friendly “add-on” that creates volume and utilities to the underlying blockchain. With more than 2 million users and 88 billion dollars of traded volume, Trader Joe has a very promising future and is already widely recognised in the Avalanche ecosystem.
The JOE Token
On Trader Joe, most activities can be boosted by staking their token or paying fees with JOE. Rewards are also distributed in JOE depending on the actions taken by users. With a total supply of 500 million tokens, JOE currently has 65% of its total supply circulating, with a market cap of 66 million. It’s worth noting that the market cap for Avalanche has followed a similar pattern. Many investors are hoping for JOE to return to those heights, and in the meantime, use the platform's many functionalities and staking opportunities.
The demand and utilities of JOE are tied to the performance of the Trader Joe platform, so for as long as they grow, we can expect an increase in the volume of the token.
All in all
Although JOE is arguably dependent on Avalanche's performance to unlock its full potential, Trader Joe is a platform that has a lot to offer. As crypto grows, it will be important to have tools facilitating the journey of users aiming to maximise their holdings utilities.
For users who believe in the Avalanche blockchain, we believe that JOE is a holding they might appreciate as well. The platform isn’t easy to replicate, which to us is an interesting indicator to bear in mind.
You can now purchase $JOE directly from the SwissBorg App, in just a few taps.
