WHAT IS JOE?
JOE is the native token of Trader Joe – a decentralized crypto exchange built on Avalanche blockchain. The exchange offers a suite of crypto trading products like swapping, yield farming and crypto assets staking. The exchange aims to lead an investor centric approach by offering seamless and intuitive lending, staking and swapping experience. The exchange also aims to incorporate NFT exchange listing, options and futures trading and limit orders. Joe runs on Compound DeFi’s protocol.
The exchange is backed by founders of AAVE, Stani Kulechov and Darren Lau. Since its launch, the exchange has been able to clock $ 4 billion in TVL.
| Launch Date | June, 2021 |
| Founder | Pseudonymous developers Cryptofish and 0xMurloc |
| Blockchain Protocol | Proof of Stake |
| Native Token | JOE |
| Market Cap | ₹6,067,442,568 |
| Token Type | DeFi |
| Circulating Supply | 330,388,829 JOE |
| Max Supply | 500,000,000 |
| Consensus Method | Proof of Stake |
WHO ARE THE FOUNDERS OF JOE?
Joe DEX was founded by two developers with pseudonymous names Cryptofish and 0xMurloc
Cryptofish has been a part of early projects on Avalanche like Snowball and Sherpa Cash. The developer has worked at Google before moving to the blockchain space and holds a masters degree in computer science.
0xMurloc is a full stack developer at various start-ups and has worked as a senior product lead at Grab.
HOW DOES JOE WORK?
JOE tokens primarily have two use cases. It works as a rewards token for crypto staking and is also used for governance. Users earn 0.05% by staking JOE. The token is also used for incentivizing users for adding liquidity to various crypto pools. Joe’s lender protocol Banker Joe allows users to borrow and lend crypto funds.
WHAT MAKES JOE UNIQUE USE CASES?
Simple UI: The exchange portal’s interface is simple and easy to understand. It can be easily understood by users who don’t have prior experience with investing through decentralized exchanges.
Cheap fees: Joe offers an array of defi solutions at an attractively low fees. Users can also use JOE as collateral for crypto borrowing for leveraged trading.
Dual use case of JOE: Users can earn JOE tokens by trading and adding liquidity to yield farms. These tokens can be redeemed for fiat and can also be used to participate in the governance of the exchange. The exchange has developed a token holder growth centered roadmap to make JOE a valuable asset to hold.
Multi chain exchange: JOE allows users to lend crypto tokens on both Avalanche and Arbitrium One.
Liquidity Pools: Joe liquidity pools offer a range of liquidity pairs at decent interest rates. Users can add and remove liquidity from the pool at any point.
NFT trading: Joe exchange extends its token utility by offering JoePegs – an NFT listing exchange that allows NFT artists to sell their digital art on Avalanche and Binance Smart Chain. The exchange is one of its kind allowing both Avalanche and Binance communities to collect and sell digital art.
JOE (JOE) PRICE ANALYSIS
- The 50 day Simple Moving Average of JOE stands at INR 13.72 and the Relative Strength Index stands at 66.25 indicating a bullish trendline.
- JOE’s ROI in the last one month shot up by +56.91% and has seen an uptick in the volume change.
- The latest developments in the project have catapulted the buy pressure.
- In addition to metrics, the project has garnered positive sentiments from the community on social media channels.
Source: TradingView
| Joe Price Today | ₹18.36 |
| Price Change <Yearly> | NA |
| Market Dominance | 0.01% |
| Market Rank (as per CMC) | 315 |
| Market Cap | ₹6,067,442,568 |
| Fully Diluted Market Cap | ₹6,067,442,568 |
| ATH | ₹413.27 |
| ATL | ₹10.86 |
HOW TO BUY JOE TOKEN IN INDIA?
Want to buy JOE tokens in India, CoinDCX is the best-suited place. Being India’s leading crypto exchange, CoinDCX is also one of the best Bitcoin and crypto apps for beginners. To begin with, all you have to do is,
- Download the CoinDCX App on your smartphone
- Enter the details required for registration
- Complete KYC
- Once your profile is verified, fund your CoinDCX wallet and buy Joe (JOE)
Read more: Latest Crypto News
