What is Trader Joe?
Trader Joe is a decentralized exchange that every trader can consider as a place to work. But why? Let's find out in the article.
There are many decentralized crypto exchanges. However, most of them support the most standard and popular blockchains such as Ethereum. At the same time, when a trader needs to work on another blockchain, which is just starting to gain momentum, one has to look for separate platforms for this.
For example, for a very interesting and fresh Avalanche blockchain, there is a popular crypto exchange with many useful features. Let’s find out what is Trader Joe?
What is Trader Joe?
Trader Joe is a decentralized cryptocurrency exchange that runs on the Avalanche blockchain. Developed by a team of programmers from America.
Commissions on the exchange are also minimal and are about 0.30% per transaction. However, most of this amount goes to liquidity providers.
The platform launched in 2021 and has been able to raise over 4 billion assets since launch. And also was able to receive investments from large funds of the industry.
Features Trader Joe
The platform claims that you as a user can get all the features you need “under one roof”.
For example, Trader Joe offers: trading (including with leverage); farming; staking; landing; NFT market. There are two things to note in particular here. This exchange has 2 unique features that are rarely found in other popular analogues.
First, it is the leverage on the decentralized exchange.
Secondly, it’s a landing page. You can provide liquidity for loans, or you can become a borrower yourself. This feature is very useful and in demand in the modern world.
As a result, the main advantages and features of the exchange are unusual functionality and work on the AVAX blockchain.
Additional Useful Usage Tips
The platform has one interesting mechanism that allows you to return part of the profit in project tokens, as well as engage in management. According to the exchange, its products are driven by the community, which, as a result, allows the exchange to return fees to users received from liquidations and swaps. The return occurs through the JOE/xJOE staking mechanism.
This means that users who have governance tokens can make decisions and vote not only for the development of the project in a certain direction, but also for the distribution of tokens from the transaction fees that the exchange itself takes. An extremely interesting feature that you will not find on all DEX sites.
JOE is a governance token that also rewards its holders with a share of the exchange’s earnings.