Trader Joe

Tokens used to power centralized and decentralized exchanges have been among the top performing cryptocurrencies in the past year. This trend may continue in 2022.

The first decentralized exchange (DEX) developed on the Avalanche (AVAX) blockchain is Trader Joe. AVAX was one of the fastest-growing crypto assets in 2021, and it is currently the 12th largest cryptocurrency by market capitalization.

Because AVAX’s popularity is expanding, the future of the DEX seems promising. It’s very likely that it’ll become a strong competitor to DEXs like Uniswap and PancakeSwap.

Trader Joe offers many farming opportunities. In fact, new to the platform is farming with stablecoins with pairs USDT-USDT.e and USDC-USDC.e. An important note, these pairs still have low liquidity and APR combined is approximately 20%. With farming on the platform, users get rewards in their native token JOE.

About Trader Joe

Trader Joe is an AMM-based decentralized exchange built on the Avalanche blockchain. In fact, AMM projects on Avalanche (AVAX) are very new. The majority of applications are modeled after well-known Ethereum and BSC projects. For example, Pangolin and Zero Exchange after Uniswap, or Olive and Lydia Finance after Pancakeswap.

The platform has a unique feature that combines DEX and Lending & Leveraged Trading. It promotes liquidity and attracts additional money to the project.

In fact, it’s one of the first in the DEX section to plan on executing limit orders, which overcomes the weakness of decentralized exchanges in price slippage. If they can meet this goal, they will have a significant advantage in the DeFi market.

Trader Joe is a DEX whose primary function is to provide swapping and trading services. However, this project also includes other fundamental DeFi functionalities such as staking, yield farming, and lending. Furthermore, Zap is a project feature that allows users to swap for LP tokens with a single click.

JOE is the token that powers Trader Joe decentralized exchange. It is a high-utility token that can be used for a variety of purposes on the Trader Joe platform.

Also, for more great info, join us on Telegram to receive free trading signals.

Above all, for more cryptocurrency news, check out the Altcoin Buzz YouTube channel.


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