Leveraged Trading on JOE/USDC, Live Now on Futureswap v4.1

The Futureswap protocol is proud to share that leveraged trading is now live for the JOE-USDC pair on Futureswap. JOE is the native, on-chain token for the Trader Joe AMM, running atop the Avalanche blockchain.

Why JOE?

Trader Joe is the leading AMM on Avalanche. Starting with the JOE token, as part of our larger cross-chain strategy (TL;DR Twitter thread version here), we plan on opening up more possibilities for long-tail assets like JOE by enabling limit orders, stop-loss orders, delta-neutral hedging strategies, and more. Starting today, trade with up to 10x leveraged longs and shorts on JOE-USDC.

By launching with JOE, the protocol is making significant progress towards the goal of pemissionlessly enabling leverage on any token pair on any AMM.

When trading on JOE, traders generate open-interest and trade-fee rewards. The trade fee reward is distributed every 24 hours, whereas open-interest is immediate.

Existing JOE token holders can deposit to the JOE-USDC pool on Futureswap and earn trade fees for providing liquidity — which allows traders to take on leveraged trades. Read more on how Futureswap’s LP positions are at low risk of impermanent loss here. Unlike other perpetuals and derivatives markets, trade volume on Futureswap helps to boost the utility of the token by generating more fees for both the Futureswap pool and the respective AMM pool, thereby generating a higher APY for token holders.

Unlike previously, when rewards would be held up to a year during a lockup period, all rewards are available immediately now. As of this post, the rewards are 700 FST/week for liquidity providers. Trade rewards are up to 3,500 FST/week.

Good luck trading! Give us a shoutout on Twitter with your positions, and stay tuned for the official trading competition and Twitter Spaces conversation with the Trader Joe team. The next pair we’ll be launching soon will be the L1 blockchain’s native token with the AVAX-USDC pair, with others soon to follow.

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