Trader Joe (JOE), one of the largest decentralized exchanges (DEX) on the Avalanche (AVAX) blockchain, is gearing up to innovate to power its native token.
In a recent statement by Trader Joe developers, the exchange’s native token To further increase the value of JOE It is stated that they have started work on it. Decentralized exchange as a first step Binance Smart Chain (BSC) and Arbitrum Aiming to spread the word in their network, the team then determined the usage areas of JOE tokens. “multi-chain” will develop.
The native token of the exchange, JOE, is on these new networks. bridge duty will undertake, management token will be used as and in community voting of critical value it will be. JOE tokens in community decisions 1:1 vote will be evaluated as
In addition, it is planned to be implemented in February. Trader Joe’s V2Users staking JOE (sJOE) in Avalanche, Arbitrum and BSC on all networks, including share of transaction fees they will receive. On the other hand, the sJOE deposit fee 1% remain as it will.
According to data provided by the on-chain analysis platform DefiLlama, the Trader Joe protocol has a total 95 million dollars total locked assets (TVL). The Trader Joe platform currently operates on the Avalanche and Arbitrum network and has recently Increasing the total volume of locked assets by switching to BSC aims.