What is JOE Coin (Trader Joe's)? Why is it different?

JOE is the native token of the Trader Joe protocol. This protocol offers DeFi services on the Avalanche (AVAX) blockchain as a decentralized exchange (DEX).

JOE (JOE coin) is the native token of the protocol called Trader Joe. This protocol offers DeFi services on the Avalanche (AVAX) blockchain as a decentralized exchange (DEX). These include bartering, staking and yield farming. Since its launch in June 2021, the total amount of assets locked (TVL) on the exchange has reached over $4 billion and is growing rapidly.

Trader Joe's has a community-focused approach; It claims to prioritize innovation, speed and security. It aims to offer a one-stop DeFi experience and integrate new products without compromising security. To achieve this, Trader Joe's has created an ambitious roadmap focused on increasing token holders. Options such as improved staking service, unique token (NFT) listings on exchanges, JOE token collateralization and leveraged trading are planned.

Who is the Founder of JOE?

Trader Joe's was founded by developers whose pseudonyms were Cryptofish and 0xMurloc. Cryptofish itself; He describes himself as a full-service developer and smart contract engineer who contributed to early Avalanche-based projects such as Snowball and Sherpa Cash. He previously worked at Google and U.S. He completed his master's degree in Computer Science at the University. 0xMurloc is a fully responsible software developer who has implemented several initiatives. He was previously senior product chief at Grab. Team; It is created by dozens of pseudonymous users working on software, marketing and community issues.

Why is JOE Different?

Trader Joe's includes all the functions a modern DEX platform should have. It offers fast and cheap transactions through a useful interface. Users can provide liquidity by participating in yield farming protocols and earn JOE (JOE) tokens as rewards. They can then stake the tokens and use them to vote on governance proposals. Banker Joe, a credit protocol developed based on the Compound (COMP) protocol, allows users to borrow and lend money. In addition, users can open leveraged positions based on the liquidity they provide or the credit they receive.

To increase the utility and adoption of the JOE token, the Trader Joe project is working to introduce several new options to become the largest DeFi platform in the Avalanche ecosystem. First of all, users will be able to use the JOE token as collateral when obtaining a loan. Trader Joe's also plans to facilitate options such as limit orders, options and futures trading on its platform. Thanks to its innovation and rapid branding stemming from its comic book character-like name, Trader Joe's has gained significant supporters from the DeFi community, including AAVE (AAVE) founder Stani Kulechov and Darren Lau.