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When it comes to liquidity and user activity Trader Joe is surely the leading automated market maker on Avalanche. The platform started out as a simple AMM and farming protocol but new features have been added constantly and Trader Joe evolved in a small but very powerful ecosystem.
Trader Joe is a decentralized exchange running on the Avalanche blockchain. You can use it for token swaps, staking, farming, lending and even NFT trading. The main goal of the platform is to provide users with a one-stop solution for all things DeFi on Avalanche.
Trading – Token swaps and spot trading for most Avalanche tokens.
Farming – Liquidity providers can earn extra rewards on top of their LP fees by depositing their LP tokens into farming contracts on Trader Joe.
Staking – The JOE token can be staked in various staking contracts. Stakers share platform revenue fees, gain access to token launch events or increase their farming revenue depending on the contract they are using.
Lending – Users that deposit tokens in the lending protocol can then use that capital as collateral to take out loans. Interest rates vary depending on the asset that you are depositing/borrowing.
NFT Trading – Trader Joe also has an NFT marketplace where users can trade their Avalanche-based NFT tokens. Token minting is also available.
JOE is the governance token of Trader Joe granting holders and stakers with revenue sharing and governance rights. JOE stakers receive 0.05% of all trades as rewards.
Token distribution follows a fixed supply and decaying emissions model. There was no presale and the only way to obtain newly-minted JOE tokens is through farming, staking and all other methods outlined in the distribution model.
Total supply – 500,000,000
Months to emit – 30
Liquidity Providers (LP) – 50%
Treasury – 20%
Dev Team (3 month cliff) – 20%
Future Investors (3 month cliff) – 10%
JOE emissions end on January 3rd and no new tokens will ever be minted again. As far as future development goes there is no clear roadmap for now but the team did announce the release of a “Liquidity Book” that should be coming in Q3 2022.
Avalanche users will surely find Trader Joe very valuable considering all of the services and yield farming opportunities it has to offer. Once you start using all of them you quickly realize that you barely need any other protocols for your day-to-day DeFi activities. In a highly competitive environment Trader Joe kept providing new solutions and tools for its users and that is the main reason why it is still the number one exchange on Avalanche.
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