$0.0336

JOE is the native cryptocurrency of LFJ, a decentralized exchange operating on the Avalanche blockchain. LFJ provides various DeFi services such as token swapping, staking, and yield farming. Since its launch in June 2021, the platform has quickly gained traction, amassing over $4 billion in total value locked. LFJ emphasizes a community-first philosophy, focusing on innovation, speed, and security. The project aims to be a comprehensive DeFi hub, integrating new features while maintaining safety. Its roadmap includes enhancing staking, adding NFT exchange listings, enabling JOE collateralization, and introducing leveraged trading, all planned for 2021.

LFJ was created by two pseudonymous developers known as Cryptofish and 0xMurloc. Cryptofish describes themselves as a full-stack and smart contract engineer with early involvement in Avalanche projects like Snowball and Sherpa Cash. They previously worked at Google and hold a Master's degree in Computer Science from a U.S. university. 0xMurloc is a full-stack developer with entrepreneurial experience and served as a Senior Product Lead at Grab. The founding team is supported by over a dozen other pseudonymous members handling software development, marketing, and community management.

LFJ offers a full suite of DEX features with a user-friendly interface and fast, low-cost transactions. Liquidity providers can join yield farms to earn JOE tokens, which can be staked for governance voting. The lending protocol Banker Joe, built on Compound, enables non-custodial borrowing and lending, as well as leveraged positions. To boost JOE's utility, LFJ plans to allow JOE as collateral, and introduce limit orders, options, and futures trading. The project's rapid innovation and distinctive comic-style branding have attracted notable supporters from the DeFi community, including Aave founder Stani Kulechov and Darren Lau.

The maximum supply of JOE is 500 million tokens, with no pre-sale, private sale, or pre-listing allocations. The distribution allocates 50% to liquidity providers, 20% to the treasury, 20% to the team (subject to a three-month cliff), and 10% to future investors (also with a three-month cliff). JOE emissions occur over 30 months, and stakers receive 0.05% of all trades plus a share of lending interest and liquidation fees. Emission rates decline over time, concluding in early January 2024.

LFJ operates on the Avalanche blockchain, which uses a unique consensus mechanism involving a directed acyclic graph (DAG) protocol where all nodes validate transactions. Currently, the treasury is managed by the developers Cryptofish and 0xMurloc, but the community plans to implement a multi-signature governance system in the future. Presently, JOE holders can participate in protocol decisions through Snapshot voting.

JOE tokens can be purchased on several exchanges, including TraderJoe, Pangolin, and Gate.io.