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What is JOE coin and how does it work?

by Financial Economy

JOE is the platform token of TraderJoe, the Decentralized Exchange (DEX) on Avalanche. TraderJoe also offers lending and borrowing services through BankerJoe. In this article, you can find answers to questions such as what is JOE coin, how does it work, how to get it, which exchange is available on, etc. You can browse here for information about Nebulas (NAS) coin.

What is JOE coin and how does it work?

Trader Joe’s is an AMM-based DEX built on the Avalanche blockchain. Most of the AMM projects on Avalanche (AVAX) are modeled after other famous projects on Ethereum and BSC, such as Pangolin and Zero Exchange, which is modeled after Uniswap, or Olive and Lydia Finance, which is modeled after Pancakeswap.

The specialty of Trader Joe’s is that it combines DEX with Lending & Leveraged Trading, which helps increase liquidity and attract more money to enter the project.

Trader Joe’s is a DEX whose main responsibility is to provide a clearing and trading service. But this project also provides other essential DeFi features like staking, yield farming and lending. In addition, Zap is a new feature of the project that allows users to exchange LP tokens with one click.

How to use JOE token?

The JOE token appears to have two use cases:

  • Management: JOR token holders have a say in the decisions to be made. Bids are agreed with JOEVOTE.
  • Token holders are awarded as rewards: JOE is awarded to stakers, farmers, and liquidity providers.

JOE token founders!

Cryptofish and 0xmurloc are JOE’s founding partners, while Hruday is a frontend engineer.

Joe token features!

Trader Joe’s takes a long-term approach to governance. The Breeding Club is Trader Joe’s first management panel, a Community Club that oversees the selection and ongoing management of the platform’s Community Farms. This initiative helps solidify the platform’s status as Avalanche’s number one liquidity provider, as well as making Trader Joe’s a fully decentralized and transparently operated ecosystem.

Besides these, xJOE is the main staking mechanism in the Trader Joe ecosystem. When the JOE coin is staked, the JOE token is effectively exchanged for xJOE. Over time, more JOE can be earned by holding xJOE tokens.

Which exchange is JOE coin on?

JOE coin is listed on some cryptocurrency exchanges such as Binance, OKX, Bitget, Bitrue, SuperEx, etc.

How to buy JOE coins?

JOE coin can be purchased from listed some cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

JOE token supply!

Total supply of JOE token is 464.573.155 units.

JOE token price!

As of February 2, 2023, at the time of the writing, 1 JOE coin price is around $0,2323 (because of the volatility on crypto market the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

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