JOE

What is the token?

• JOE is the native utility and governance token of Trader Joe's, a decentralized exchange (DEX) on the Avalanche blockchain.

• It facilitates DeFi services like swapping, staking, and yield farming and offers governance rights to holders, aiming for a complete DeFi experience with a community-first approach.

Tokenomics

• JOE has a fixed supply of 500 million tokens allocated to liquidity providers, the development team, the treasury, and future investors.

• Following a decaying emissions model, JOE has reached its capped total supply, with no further tokens being minted.

Market Data

As of today #{today’s date}, the price of JOE is ₹14.32 INR or 0.1657 USD, with a 24-hour trading volume of 6569238.43 USD. The market capitalisation for JOE is 65676336.92USD. The circulating supply is 396454515 JOE, with the total supply also being 464573155 JOE.

Token Pros and Cons

Pros:

• Offers governance participation and a share of trading fees to stakes.

• Provides a diverse range of DeFi services on the Avalanche blockchain.

Cons:

• Subject to high volatility, which is common in the cryptocurrency market.

• Faces stiff competition within the DeFi and DEX landscape.

Why Should You Invest in JOE?

• Potential investors might find JOE attractive for its integral role in the Trader Joe's platform and its utility in governance and fee distribution within the Avalanche ecosystem.

USP of the coin

• JOE's unique selling point lies in its utility within the Trader Joe's ecosystem, offering governance, fee sharing, and incentives for liquidity provision on a growing DEX in the Avalanche blockchain.

Problem the coin is solving

• It aims to address the issue of fragmented DeFi services by consolidating decentralized trading, liquidity provision, and financial services on the Avalanche blockchain, emphasizing community governance and innovation.

Founder and Team Background

• Trader Joe's was founded in June 2021 by pseudonymous developers Cryptofish and 0xMurloc, with backgrounds in full-stack and smart contract engineering, early contributions to Avalanche projects, and senior product leadership at tech companies. The project is supported by a team dedicated to development, marketing, and community engagement.

ICO Price

• JOE's ICO price was set at $0.10, providing a significant return on investment (ROI) according to the data available.

Risks Associated in Investing in the Coin

• Investing in JOE carries risks such as market volatility, regulatory shifts, competition from other DEXs, potential smart contract vulnerabilities, and dependence on the Avalanche blockchain's performance and security.

Whitepaper Insights

he protocol aims to solve the problem of fragmented DeFi services by offering a one-stop shop for decentralized trading, liquidity provision, and other financial services on the Avalanche blockchain.

The token distribution follows a decaying emissions model, with no new tokens being minted after reaching the capped total supply. The protocol incentivizes liquidity providers with JOE tokens and features Rocket Joe, an allocation mechanism that allows stakers to participate in the launch of new protocol tokens. The typical risks of the token include: