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About JOE
Key Points
- JOE is the native token of Trader Joe, a decentralized exchange (DEX) on the Avalanche (AVAX) blockchain.
- Trader Joe has attracted over $4 billion in total value locked (TVL) since its launch in June 2021.
- The exchange aims to provide a one-stop-shop DeFi experience and integrate new products without compromising on security.
- The founders of Trader Joe are Cryptofish and 0xMurloc, two pseudonymous developers.
- JOE provides all the functionality of a modern DEX and offers a convenient user interface, combined with speedy and cheap transactions.
- The total supply of JOE is 500 million, with
About JOE
JOE is a decentralized financial (DeFi) platform that empowers users to create, manage, and grow their digital assets in a trustless, permissionless, and censorship-resistant manner.
Introducing JOE (JOE): A Comprehensive Overview
JOE (JOE) is the native cryptocurrency of Trader Joe, a decentralized exchange (DEX) built on the Avalanche (AVAX) blockchain, offering a comprehensive suite of DeFi services, including token swapping, staking, and yield farming. Since its inception in June 2021, the exchange has experienced rapid growth, boasting an impressive total value locked (TVL) of over $4 billion. Trader Joe prides itself on its community-centric approach, prioritizing innovation, speed, and security. The platform strives to provide a seamless, one-stop-shop DeFi experience, seamlessly integrating new products without compromising on security. To achieve this vision, Trader Joe has outlined an ambitious roadmap, focusing on token-holder growth, with plans to introduce enhanced staking, non-fungible token (NFT) exchange listings, JOE token collateralization, and leveraged trading – all slated for 2021.
The Visionaries Behind JOE: Meet the Founders
Trader Joe was co-founded by Cryptofish and 0xMurloc, two visionary developers who prefer to maintain their anonymity. Cryptofish, a multifaceted engineer with expertise in full-stack development and smart contracts, boasts an impressive track record as an early contributor to prominent Avalanche projects, including Snowball and Sherpa Cash. With a Master’s degree in Computer Science from a prestigious U.S. university and a stint at Google, Cryptofish brings a wealth of knowledge to the table. 0xMurloc, a seasoned full-stack developer, has a proven entrepreneurial spirit, having successfully launched multiple startups, and has also held the position of Senior Product Lead at Grab. The dynamic duo is supported by a talented team of over a dozen pseudonymous individuals, each contributing their expertise in software development, marketing, and community building.
Unveiling the Unparalleled Attributes of JOE
Trader Joe offers a comprehensive decentralized exchange (DEX) experience, boasting a user-friendly interface, rapid transaction processing, and cost-effective fees. By participating in one of its yield farms, users can provide liquidity and earn JOE, a reward token that can be staked and utilized to cast votes in governance proposals. Furthermore, Banker Joe, a lending protocol inspired by Compound (COMP), enables users to engage in non-custodial borrowing and lending. Additionally, users can leverage their provided or borrowed funds to open positions, amplifying their market exposure.
To bolster the utility and adoption of the JOE token, Trader Joe is spearheading a multifaceted effort to elevate the project into the premier DeFi platform within the Avalanche ecosystem. Notably, users will soon be able to leverage JOE as collateral to secure borrowings. Furthermore, Trader Joe is poised to introduce limit orders, options, and futures trading on its platform. The project’s rapid innovation and distinctive, comic book-inspired branding have garnered significant support from prominent figures within the DeFi community, including AAVE founder Stani Kulechov and Darren Lau.
What Is the Circulating Supply of JOE (JOE) Coins?
The total supply of JOE (JOE) is capped at 500 million. Notably, the token’s launch was devoid of pre-sale, private sale, or pre-listing allocations. The distribution of JOE is allocated as follows:
- Fifty percent – allocated to liquidity providers
- Twenty percent – reserved for the treasury
- Twenty percent – designated for the team, subject to a three-month cliff
- Ten percent – earmarked for future investors, also subject to a three-month cliff
JOE is being incrementally released over a 30-month period, during which JOE stakers are entitled to a 0.05% share of all trades. Furthermore, a portion of the fees generated from lending interest and liquidations is allocated to the staking pool. Notably, the emission rates of JOE will gradually decline over time, ultimately ceasing at the beginning of January 2024.
The Security Architecture of the JOE Network
Trader Joe is built upon Avalanche (AVAX), a blockchain that leverages its proprietary consensus mechanism, wherein all nodes collectively process and validate transactions via a directed acyclic graph (DAG) protocol, ensuring a robust and efficient transactional framework.
The treasury is presently entrusted to the care of its developers, Cryptofish and 0xMurloc, although the Trader Joe community envisions the establishment of a decentralized, multi-signature governance mechanism in the future. In the interim, token holders are empowered to exercise their voting rights, influencing the development of the protocol via Snapshot.
Where to Acquire JOE (JOE) Tokens
JOE (JOE) is now accessible on prominent cryptocurrency exchanges, including TraderJoe, Pangolin, and Gate.io.
Associated Resources:
Discover Avalanche (AVAX), the robust blockchain that underpins Trader Joe’s infrastructure.
Discover Solana (SOL), a cutting-edge, high-performance layer one blockchain that redefines the boundaries of speed and efficiency.
Delve into our in-depth exploration of Avalanche (AVAX), a comprehensive examination of this innovative cryptocurrency.
Stay ahead of the curve with the latest cryptocurrency news and expert trading insights, all in one place, on the CoinMarketCap blog.