JOE

JOE (JOE) serves as the native cryptocurrency for LFJ, a decentralized exchange (DEX) operating on the Avalanche (AVAX) blockchain. This platform offers a variety of DeFi services, such as swapping, staking, and yield farming. Since its debut in June 2021, the exchange has experienced rapid growth, amassing more than $4 billion in total value locked (TVL). LFJ is committed to a community-centric approach, emphasizing innovation, speed, and security. It strives to deliver a comprehensive DeFi experience and integrate new offerings without sacrificing safety. To realize these ambitions, LFJ has laid out an ambitious plan targeting growth among token holders, featuring enhanced staking, listings for non-fungible tokens (NFTs), collateralizing the JOE token, and enabling leveraged trading—all slated for completion in 2021.

LFJ was established by two pseudonymous developers known as Cryptofish and 0xMurloc. Cryptofish describes themselves as a full-stack and smart contract engineer, having made early contributions to Avalanche projects like Snowball and Sherpa Cash. With a background at Google and a Master's degree in Computer Science from a U.S. institution, Cryptofish brings considerable expertise. 0xMurloc is a full-stack developer as well, with a history of launching multiple startups and previously serving as a Senior Product Lead at Grab. Their team includes over a dozen other pseudonymous members focusing on software development, marketing, and community engagement.

LFJ offers all the standard features of a modern DEX with an easy-to-use interface and fast, low-cost transactions. Users can engage in yield farming to provide liquidity and earn JOE (JOE) tokens as rewards, which can be staked and used in governance voting. The Banker Joe lending protocol, inspired by the Compound (COMP) model, lets users participate in borrowing and lending in a non-custodial setup. Additionally, users have the option to take leveraged positions on their borrowed or provided assets.

To further enhance the usability and uptake of the JOE token, LFJ is developing various new features aimed at positioning it as the leading DeFi platform in the Avalanche ecosystem. Users will soon be able to use JOE as collateral for loans. Moreover, LFJ plans to introduce limit orders, options, and futures trading on its platform. Its rapid pace of innovation and distinctive comic book-themed branding have drawn significant support from the DeFi community, including backing from AAVE founder Stani Kulechov and Darren Lau.

JOE (JOE) has a total supply capped at 500 million tokens. There were no pre-sales, private sales, or pre-listing allocations at its launch. Here's how JOE is distributed:

* 50% goes to liquidity providers
* 20% is allocated to the treasury
* 20% is reserved for the team (with a three-month cliff)
* 10% is set aside for future investors (also with a three-month cliff)

JOE tokens are released over a 30-month timeframe, with stakers earning 0.05% of all trades. It also distributes a portion of fees from lending interest and liquidations to the staking pool. The emission rate of JOE decreases gradually and is expected to end by early January 2024.

LFJ operates on the Avalanche (AVAX) blockchain, which uses a unique consensus mechanism where all nodes verify transactions via a directed acyclic graph (DAG) protocol.

Currently, the treasury is managed by developers Cryptofish and 0xMurloc, but the LFJ community intends to implement a multi-signature governance model in the future. Presently, token holders can participate in protocol development decisions through the Snapshot platform.

JOE (JOE) can be purchased on platforms such as TraderJoe, Pangolin, and Gate.io.