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What Is JOE (JOE)?

JOE ( JOE ) is the native token of Trader Joe, a decentralized exchange ( DEX ) on the Avalanche ( AVAX ) blockchain that offers DeFi services, including swap, staking and return grow. The exchange has been growing quickly, attracting over $ 4 billion in entire prize locked ( TVL ) since it was launched in June 2021. Trader Joe claims to take a community-first approach path, and to prioritize invention, speed and safety. It aims to provide a one-stop-shop DeFi have and to integrate modern products without compromising on security. To achieve this, Trader Joe has outlined an ambitious roadmap that focuses on token-holder growth. It plans to have improved stake, non-fungible-token ( NFT ) substitute listings, the collateralization of the JOE token, and leverage trading –– all during 2021 .

Who Are the Founders of JOE?

Trader Joe was founded by Cryptofish and 0xMurloc, two pseudonymous developers. Cryptofish is self-described as a full-stack and smart compress engineer, who was an early on subscriber to respective Avalanche projects, such as Snowball and Sherpa Cash. S/he worked at Google and holds a maestro ‘s in Computer Science from a U.S. university. 0xMurloc is a full-stack developer with know starting respective startups. S/he was besides a elder Product Lead at Grab. The team is complemented by over a twelve other pseudonymous users working on software, marketing and community .

What Makes JOE Unique?

Trader Joe provides all the functionality of a modern DEX and offers a convenient exploiter interface, combined with rapid and cheap transactions. Users can provide liquidity by participating in one of its output farms and earn JOE ( JOE ) as a reward keepsake, which can late be staked and used to vote in administration proposals. Its lending protocol Banker Joe, based on the Compound ( COMP ) protocol, allows users to borrow and lend funds in a non-custodial manner. furthermore, users can besides open leverage positions on their provided or borrowed funds. To increase the utility and adoption of the JOE token, Trader Joe is working on introducing several fresh options, which are aimed at transforming the project into the main DeFi platform within the Avalanche ecosystem. First of all, users will be able to use JOE as collateral to borrow against. furthermore, Trader Joe besides plans to facilitate limit orders, options and futures trading on its platform. Thanks to the focal ratio of its invention and potent comedian book-like brand, Trader Joe has attracted firm backers from within the DeFi community, including from AAVE ( AAVE ) collapse Stani Kulechov and Darren Lau.

Check out Avalanche ( AVAX ) — the blockchain Trader Joe is built upon. Check out Solana ( SOL ) — another high-speed layer one blockchain. Read our deep honkytonk into Avalanche ( AVAX ).

Get the latest crypto news and latest deal insights via the CoinMarketCap blog .

How Many JOE (JOE) Coins Are There in Circulation?

The sum provide of JOE ( JOE ) is 500 million. The keepsake was launched without a pre-sale, secret sale, or pre-listing allocations. The distribution of JOE is as follows :

  • 50% – liquidity providers
  • 20% – treasury
  • 20% – team (three-month cliff)
  • 10% – future investors (three-month cliff)

JOE is being emitted over a 30-month menstruation and JOE stakers earn 0.05 % of all trades. JOE besides pays a share of fees from lending pastime and liquidations into the staking pool. The discharge rates of JOE steadily decrease over time and will come to an end at the begin of January 2024.

How Is the JOE Network Secured?

Trader Joe is built upon Avalanche ( AVAX ), a blockchain with its own proprietary consensus mechanism, in which all nodes work and validate transactions by employing a directed acyclic graph ( DAG ) protocol. The treasury is presently entrusted to its developers Cryptofish and 0xMurloc, although the Trader Joe community plans to establish a multi-signature administration mechanism in future. For now, token holders can vote on the development of the protocol via Snapshot .

Where Can You Buy JOE (JOE)?

JOE ( JOE ) is available on TraderJoe, Pangolin and Gate.io .

source : https://www.peterswar.net
Category : Finance

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