Review Trader Joe ($JOE) – #1 DEX on Avalanche, One-Stop-Shop Innovative DeFi Platform

Avalanche (AVAX) is an ecosystem with many promising projects, and Trader Joe (JOE) has become the top AMM DEX on Avalanche (AVAX).

What is Trader Joe ($JOE)?

Trader Joe is a one-stop decentralized trading platform on the Avalanche network that offers leveraged trading by combining DEX services with DeFi loans. Founded in June 2021 by 0xMurloc and Cryptofish as a DEX, Trader Joe grew quickly and performed a variety of services. Since its launch, the platform has attracted over 4 billion in assets and has gained help from some of the industry’s most well-known investors. Trader Joe is built different with new features that people want to see; they are simple things like a new UI, candlestick chart and better farming incentives, like double reward farming. Come to Trader Joe and Swap, Stake, Farm, Lend, Borrow, and Leverage … Do it all under one roof.

Outstanding Features

What is the project trying to achieve?

The Avalanche blockchain is all about speed and innovation, and we believe the top DEX must also embody those qualities. Because of this, we have defined our core values as:

• Build Fast and Securely. Stay lean and agile, build with speed and never compromise on safety
• Be Innovative and Different.
• Put the Avalanche Community First. Provide a one-stop-shop DeFi experience, for everyone

What is the unique selling point?

Trade

The exchange is where you can trade one token for another. It is a simple swap interface, just select the two tokens you wish to exchange.

When you make a token swap (trade) on the exchange you will pay a 0.3% trading fee, which is broken down as follows:

• 0.25% – Paid to liquidity pools in the form of a trading fee for liquidity providers.

• 0.05% – Sent to JOE token farm.

Farm

Deposit your Liquidity Pool tokens into a farm to earn extra yield. Extra yield is rewarded in $JOE Tokens and bonus token rewards. There’s also a Xjoe farm for your staked Joe.

Stake

You can stake your JOE tokens to xJOE, which has no impermanent loss (IL), and maximizes your profits when JOE tokens go up. When you stake your JOE, you effectively exchange your JOE for xJOE. Over time, you’ll always earn more JOE by holding xJOE tokens.

This is because every swap on Trader Joe, a 0.05% fee is charged and sent to the xJOE pool. This fee is used to buy back JOE tokens periodically (currently, buy-backs happen every day). So when you exchange your xJOE for JOE, you’ll get more JOE than what you started with.

How to Stake

• Connect and confirm your wallet.
• Navigate to the Trader Joe dashboard and select the Stake tab.
• On the left hand side, enter the desired amount of JOE tokens and select ‘Approve’.
• You will receive xJOE tokens in your wallet.
• In the central panel you will see ‘XJOE Balance’ and ‘Staked JOE’.
  • XJOE Balance: Your staked deposit.
  • Staked Joe: Staked deposit + share of the fees.
  • You can see how this is calculated by viewing the stadium box beneath ‘Stake Joe’.

Lending/Borrow

Banker Joe: DeFi lending protocol

Banker Joe is a decentralized lending protocol built onto the Trader Joe platform. Banker Joe offers investors the ability to lend or borrow against whitelisted assets, enabling the deployment of flexible DeFi investment strategies on the blazingly fast, low-cost Avalanche network.

How to lend?

You may deposit your tokens for other users to borrow. In return, you can earn interest on your tokens. It is just like a savings bank

1. Go to the Lending Markets page.
2. On left side you can find list of lending markets (Deposits). With information such as total Liquidity and deposit APY.
3. Click on the Token you wish to deposit into, this will bring up a more detailed page for the Token.
4. Enter the number of Tokens you wish to deposit.
5. Click Approve (if required).
6. Click Deposit to deposit the tokens into the market.
7. Congratulations, you are now lending your Tokens to Banker Joe!

How to borrow?

Anyone may borrow tokens from Banker Joe. It is just like taking a loan out from a Bank.

1. Go to Lending Markets page.
2. On the right side of the page, you can find list of tokens to Borrow, with information such as total Liquidity and deposit APY.
3. Click on the Token you wish to borrow, this will bring up a more detailed page for the Token.
4. Enter the number of tokens you wish to borrow.
5. Click Approve (if required).
6. Click Borrow to borrow tokens from the market.
7. Congratulations, you are now borrowing tokens from Banker Joe!

Decentralized Marketplace

JOEPEGs (Trader Joe NFTs)

• The JOEPEG collection was originally planned to launch in December.
• This has now been pushed back to release in Q1 2022.
• Anyone currently on the WL for a JOEPEG, will remain on the WL

Roadmap

Phase 1: A Revamped DEX with

• A completely new UI
• A candlestick chart
• 1-click Zaps
• 1-click LP Migration from Pangolin
• Voting when your JOE is staked
• DOUBLE reward farms
• Lots of low-hanging fruit all at launch

Phase 2: (July-August): Lending and Leveraged Trading

• Isolated pair lending that allow users to trade on leverage
• On top of a vault to allow yield optimizers to implement lending strategies

Phase 3: (August & beyond): R&D Phase

• Explore current DeFi research, particularly in limit orders and derivatives
• Write research papers in those areas
• And translate research into code

Coming Early Q1/2022

• Rocket Joe: DeFi Innovation for Decentralised Exchanges
• Tokenomics Overhaul: Reduce sell pressure, return value
• Decentralised Marketplace: Supporting NFT/Metaverse culture on Avalanche

Technical Data

Token Metrics

• Token Name: Trader Joe
• Ticker: JOE
• Blockchain: Avalanche
• Token Standard: ARC-20
• Contract: 0x6e84a6216eA6dACC71eE8E6b0a5B7322EEbC0fDd
• Token Type: Utility, Governance
• Total Supply: 500,000,000
• Circulating Supply: 152,975,628

Token Allocation

• Liquidity provider: 50%
• Treasury: 20%
• Dev team: 20%
• Future Investor: 10%

Token Sale

There wasn’t pre sales, seed investors or VC allocations. The entire JOE – project tokens are distributed according to emission schedule. That means that the team funds and treasury funds are distributed at same pace as our LP farms. Unlocked through inflation (liquidity provider rewards). There is also an allocation hold out for future investors. It means that if Trader Joe were to raise investor funds in the future, these investors would enter after the token launch, and not before.

Token Release Schedule

Token emission will begin 3-July, 2021 and end 3-Jan, 2024. We don’t notice any spikes in time on JOE’s release chart, which is a great indicator because it implies there won’t be a massive change in supply that would affect the market price.

Token Use Case

• Governance token: Allow holders to vote on community proposals
• Rewards: Stakers, Farmers, Liquidity Providers

Market and Community

Trader Joe has crossed the mark of 115,4K Followers on Twitter.

Backers

Team

Cryptofish (Co-Founder) He’s a software engineer with experience working at Google and a CEX. He has also been an early contributor to several Avalanche projects such as Snowball, Pandaswap and Sherpa Cash. He holds a Master’s in Computer Science from a top US university.

0xMurloc (Co-Founder) He is a full-stack developer, but his specialty is product management. Most recently he was a Senior Product Manager at Grab. He holds a Bachelor’s in Electrical Engineering from a top US university.

Louis MeMyself (Software Engineer) Louis is a student in Computer Science from a French university. He is mainly in charge of bots and everything related to HAT. He takes care of most of the community bots on Avalanche such as Snowball, Sherpa, and PeFi.

Intro_0000 (Software Engineer) is a full-stack software engineer with past experience in machine learning and robotics. He holds a bachelor’s degree in Electrical Engineering.

Partners

Trader Joe, a one-stop decentralized trading platform on Avalanche, has raised $5 million in a strategic sale led by Defiance Capital, GBV and Mechanism Capital. Other VC and angel investors include the Not3Lau Capital, Three Arrows Capital, Coin98 Ventures, Delphi Digital, Avalanche Foundation and Stani Kulechov. The investment round also included strategic partners Avalaunch and Yield Yak from the Avalanche community.

Verdict

With Defi’s rapid growth, project competition is heating up, putting pressure on Trader Joe (JOE) to maintain product quality while also expanding features and utilities to attract customers. The role of AMM DEX projects is extremely important, Trader Joe has a very experienced team that acts professionally and works fast. It also has a great new investor, and there is a huge opportunity coming for the Avalanche (AVAX) ecosystem.

Find more information about the project

Website: https://traderjoexyz.com

Twitter: https://twitter.com/traderjoe_xyz

Telegram: https://t.me/traderjoe_xyz

Discord: https://discord.com/invite/GHZceZhbZU

Medium: https://traderjoe-xyz.medium.com

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Marshall

Coincu Ventures