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Information about JOE (JOE)
Trader Joe is a decentralized exchange (DEX) under the AMM mechanism, built on the Avalanche blockchain platform. Founded in June 2021 by 0xMurloc and Cryptofish, Trader Joe aspires to create a unique trading platform that combines the advantages of the Avalanche blockchain and the decentralized finance (DeFi) industry. Since launching, the platform has attracted over $4bn in assets and has gained backing from some of the most widely recognized investors in the industry.
Trader Joe can be considered one of the outstanding AMM projects with the highest trading volume on Avalanche today. Initially, the platform only allowed regular token exchange. Still, it later integrated many other DeFi features such as Lending, Borrowing, Staking, Yield Farming, or ZAP (allowing users to exchange tokens to Liquidity Provider Token). with just one click). Another interesting point about Trader Joe is that this project goes toward Fair Launch (no open sale, no IDO, no Private Sale) but will allocate tokens according to a specific route. However, there will still be profit reserves for future investors.
JOE is a native token of the JOE ecosystem, operating on Avalanche according to ARC20 standard, and can be used to:
- Participate in the governance of the system
- Reward JOE tokens holders (Stakers, Farmers, Liquidity Providers)
News
Decentralized exchange Trader Joe has recently rebranded itself as LFJ. Along with the rebranding, the platform’s domain name has also changed.
In the coming period, LFJ plans to introduce several new features, including an aggregator, a loyalty program, and a portfolio system. Additionally, new protocols such as Token Mill and a central limit order book will be implemented.
Crypto exchange Trader Joe booms on Arbitrum, spurring JOE token rally
Decentralized crypto exchange (DEX) Trader Joe has had surging trader and depositor activity on its Arbitrum venue in the past 7 days, with total value locked (TVL) rising by more than 300%, reaching $30 million on Wednesday.
Data from crypto stats website DefiLlama showed a spike in Trader Joe’s trading volume over the same time period.
Trader Joe collaborates with LayerZero to enable the transfer of Trader JOE to multichain
Trader Joe, the Avalanche system’s largest decentralized exchange (DEX), has announced a cooperation with cross-chain infrastructure solutions platform LayerZero to make its JOE token more adaptable, particularly in terms of capabilities interaction between many chains.
Trader Joe’s JOE token will be able to be readily transferred from the original blockchain Avalanche to two additional chains, Arbitrum and BNB Chain.
Trader Joe DEX and NFT Marketplace will expand to BNB Chain before Q1
By the end of March, the BNB Chain will be added to the Joepegs NFT marketplace and Trader Joe DEX both of which are based in Avalanche.
According to a press release from the firm, users of the BNB Chain will be able to trade tokens through Liquidity Book and take part in the introduction of new NFT collections utilizing the Joepegs NFT marketplace.
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