What Is Trader Joe (JOE)? Overview of Trader Joe Project

What is Trader Joe?

Trader Joe is a decentralized trading platform based on AMM mechanism on the Avalanche blockchain and has expanded to the Arbitrum ecosystem. The special feature of Trader Joe is that it combines DEX and Lending & Leveraged Trading, which helps promote liquidity, attracting more cash flow into the project.

https://traderjoexyz.com/avalanche

Trader Joe initially developed the AMM feature, which allows common token swaps, after a period of strong development. Currently Trader Joe has provided a lot of DeFi features on the same platform from Trade, Zap, Swap, Lending, Yield Farming, Staking. Currently, this is the AMM platform with the largest trading volume on Avalanche.

What are the features of Trader Joe?

Trade Tokens

Is an automated market maker (AMM) exchange that allows users to swap tokens on the platform.

Trade Tokens

Farm Tokens

Trader Joe helps users earn JOE by staking the liquidity provided token “liquidity provider” (LP). The Farm token feature will not be detailed in this article.

Farm Tokens

Stake Tokens

Stake your JOE tokens to earn more JOE based on collection platform protocol fees.

xJOE is the main staking mechanism on the Trader Joe’s ecosystem. When you stake your JOE, you will exchange JOE for xJOE at a ratio. Over time, you will always earn more JOE by holding xJOE tokens.

This is because for every swap on Trader Joe, a 0.05% fee is charged and sent to the xJOE team. This fee is used to periodically buy back JOE tokens (currently, buybacks happen every 2 days). So when you exchange your xJOE for JOE, you will get more JOE than what you started with

Stake Tokens

Borrow Tokens

Users can lend and borrow tokens from Trader Joe and earn profits through Yield or using leverage trading.

Borrow Tokens

Provide loans

To participate with Banker Joe’s services, users will navigate to the Lending page on the website and deposit one of the whitelisted tokens. In return, we will give them a receipt, for example, a user deposits money into AVAX and in return they receive jAVAX. The accrued interest will increase over time (this works in a similar way to xJOE). When users return jAVAXreceipt to Banker Joe, they will receive original AVAX + additional earned AVAX on top.

Borrow

In addition to providing an asset, users can also borrow against that asset used as collateral. For example, a borrower could supply ETH to the jETH contract and then borrow AVAX from the jAVAX contract. The amount of AVAX a borrower can borrow is determined by the ETH collateral factor. For example, if a borrower has provided 1 ETH as collateral and the ETH collateral factor is 65%, he can borrow AVAX worth 0.65 ETH.

Trader Joe’s Highlights

Trader Joe, in addition to being an AMM, also integrates a number of additional features such as Yield Farming, Lending, Staking,… with the aim of becoming an integrated platform and bringing the best experience to users.

In addition, users can exchange tokens for LP tokens with just 1 click through the Zap feature – a new feature on AMM.

If other projects raise capital before making products, Trader Joe’s takes the completely opposite direction.

They are not a Fair Launch project (no token sale, team does not hold tokens) but will run the project, the entire JOE – project token will be unlocked through inflation. however, Trader Joe’s still has an allocation for prospective investors where applicable.

Tokenomics and Token JOE

Basic information JOE

Token Name: Trader Joe.
Ticker: JOE.
Blockchain: Avalanche and Arbitrum.
Token Standard: ARC-20.
Contract: 0x6e84a6216eA6dACC71eE8E6b0a5B7322EEbC0fDd
Token Type: Utility, Governance.
Total Supply: 500,000,000 JOE.
Circulating Supply: 363,048,710 JOE

JOE Token Allocation

JOE Tokens will be distributed as follows:

Liquidity Provider: 50%.
Treasury: 20%.
Dev Team: 20%.
Future Investors: 10%.

Allocation JOE

JOE Token Release Schedule

Release Schedule

JOE Token Use Case

JOE tokens will be used for:

Administration.
Stake JOE receives xJOE, revenue from trading (0.05%) and from Lending will be distributed to xJOE.

JOE Token storage wallet & exchange

Wallet that stores the JOE Token

JOE is a token in Avalanche, so it will be stored on Coin98 Wallet, Metamask, Trust Network

JOE Token exchange

You can trade JOE on Binance, OKX,…

Development team

Cryptofish – Co-Founder

Be a smart and complete contract engineer. He is mainly in charge of contracts and culture. He was an early contributor to several Avalanche projects such as Snowball and Sherpa Cash. Most recently, he worked at Google and a CEX specializing in derivatives. He holds a Master’s degree in Computer Science from a top US university.

0xMurloc – Co-Founder

He is a full-stack developer, but his expertise is product management. He is primarily in charge of products and programs at Trader Joe. He has experience starting several startups and was most recently Senior Product Manager at Grab. He holds a Bachelor’s degree in Electrical Engineering from a top US university.

Investors

Funding round and Investor

Trader Joe raises $5M Strategic Sale, led by: Defiance Capital, GBV Capital, and Mechanism Capital. Also included are Three Arrows Capital, Coin98 Ventures, Delphi Digital, Avalanche Foundation, and Aave founder Stani Kulechov.

Roadmap

Phase 1: Take the traditional AMM model but add many small improvements. This stage is all about learning to get the fundamentals right.

Phase 2: Lending combined with trading results in leveraged trading. This phase is to deliver products that are still new to Avalanche.

Phase 3: The serious research phase and our long-term vision for Trader Joe – becoming the R&D hub for DeFi innovation. Some of the areas we are looking at are limit orders and derivatives orders.

Similar projects

Pangolin: AMM has a similar structure to Uniswap but on the Avalanche blockchain platform.

Uniswap: An automated market maker (AMM) protocol and decentralized exchange (DEX) built on the Ethereum Blockchain, allowing users to swap any ERC-20 token.

Conclude

Through the overview article about the Trader Joe project above, AZC News hopes readers will grasp basic information about this project to make their own investment decisions. Wishing you a successful investment!