CAI’s second constituent: JOE
CAI, Colony Avalanche Index, is the benchmark index for investors wanting to get exposure to the Avalanche ecosystem. It will be composed of the native token AVAX, and the most prominent projects in the ecosystem, such as JOE (Trader Joe).
In this article, we will detail what makes Trader Joe one of the most exhaustive DEXs in the DeFi space and look into the factors that make it a blue chip in the Avalanche ecosystem.
What is Trader Joe (JOE)?
Trader Joe is a one-stop-shop decentralized trading platform native to the Avalanche blockchain.
Trader Joe builds on the frontier of DeFi, pushing innovation to offer a truly unique trading experience that is seamless and accessible, whether you are new or well versed in the permissionless world of DeFi.
This multi-functional trading platform also has services related to lending and borrowing, liquidity pools, leverage trading, yield farming, NFTs, staking, as well as a launchpad.
A « blue chip » in the Avalanche ecosystem
Trader Joe has easily gained the reputation for being a “blue chip” in the ecosystem and had a remarkable run from late August 2021, growing to as fast as $3.4 billion TVL locked in November 2021.
Trader Joe has also facilitated over $88 billion in trades since launch, thus generating $265 million in revenue for liquidity providers and token holders.
What can you do on the Trader Joe platform?
- Trade: Discover DeFi and trade with fast transaction speeds and cheap trading fees thanks to the technology of the Avalanche blockchain.
- Pool & Farm: Deposit your Tokens into Liquidity Pools and Farms to earn trading fees and bonus rewards.
- Stake: Stake your $JOE tokens with Trader Joe’s modular staking system to unlock utility and more.
- Lend: Visit Banker Joe to lend or borrow your tokens to earn interest.
- Launch: Visit Rocket Joe to participate in exclusive launch events for newly launched tokens.
- Shop: Visit the Joepegs Marketplace and buy or sell NFTs.
Unlocking $JOE utility
The JOE ecosystem provides users with ‘Modular Staking’. Modular staking offers all users additional utility for the JOE Token.
The staking options you have with JOE and associated rewards:
- rJOE: Unlock the ability to participate in Rocket Joe (Liquidity Launch platform).
- sJOE: Earn Stablecoins that are distributed from accrued trading fees on the platform.
- veJOE: Receive boosted yield from JOE rewards in selected Farms + receive governance power.
This is just the beginning. Trader Joe will open an exciting new chapter for Decentralized Exchanges!
Trader Joe just announced that the Joe V2 protocol introduces a “Liquidity Book” design to improve capital efficiency through concentrated liquidity, and a variable fee that adjusts in response to market volatility to offset risks for liquidity providers. The concentrated liquidity will allow liquidity providers to capture more fees with significantly less liquidity. Liquidity Book pools liquidity into constant sum price bins which are aggregated to form a market. In addition, Trader Joe plans to introduce limit order functionality for Joe V2 in the near future.
Trader Joe has been hard at work, toiling away to push the frontier of DeFi with new innovation. Just under one year, Trader Joe has delivered several innovative features, and with the roadmap ahead one can only see how committed Trader Joe is to scaling and continuing to deliver the greatest added value to its users and investors.
About Trader Joe
Trader Joe is a one-stop-shop decentralized trading platform native to the Avalanche blockchain. Trader Joe builds fast, and securely and aims to serve the community at the frontier of DeFi. Maximize your yield generating activities under one fully integrated roof, providing you with a unique, innovative, and highly accessible DeFi experience.
Disclaimer:
Provided for informational purposes only, this does not constitute professional and/or investment advice or financial advice. Please conduct your own research to properly evaluate the risks and benefits of any project.
