Trader Joe is a decentralized trading platform built on the Avalanche network. It combines DEX services with DeFi lending to offer leveraged trading. The full DeFi suite offers multiple features which are trading through an automated market maker (AMM) that helps users swap between two tokens, farming allowing users to earn JOE tokens by staking their liquidity provider (LP) tokens, staking of JOE tokens to earn more JOE via protocol fees, lending and borrowing to earn yield or increase the trading leverage.
As the Avalanche DeFi scene is slowly starting to emerge, Trading Joe aims to offer a solution which includes all major services users would expect from DeFi protocols. In order to achieve it, they took inspiration from some leading protocols of the Ethereum DeFi ecosystem, such as Compound and Cream. The team is not the most experienced one but isn’t taking too many risks as of now as they started by using protocols that have been proven to be well-designed. The goal of the team is to make Trader Joe a real DeFi hub, allowing users to access all the different services on a single platform. As they ambition to do some research and development in other DeFi areas in the future as stated by their roadmap, such as limit orders and derivatives, if the Avalanche network is able to capture part of the DeFi market, Trader Joe would be well positioned. The token is trading on both centralized (Gate.io) and decentralized (Trader JOE) exchanges.