Feb 2, 2023

Trader Joe

Avalanche
Arbitrum
DEX
Lending / Borrowing
Launchpad

How to Start

Introduction

Trader Joe is a decentralized exchange (DEX) built on the Avalanche blockchain. It offers decentralized services in the form of swapping, liquidity providing, staking, or yield farming. Here, we take you step by step through how to work with the Trader Joe platform by explaining the concepts and showing you where and how to make LPs, stake, and swap tokens.

How to start?

To start investing and using Trader Joe’s features, you will need to have at least some AVAX on MetaMask on the Avalanche C-Chain. You will then be able to swap AVAX with other necessary assets on the Trader Joe platform. Fees on Avalanche C-Chain are paid in AVAX, so always keep in mind to have some extra AVAX left for fees.

If you do not have any AVAX on Avalanche C-Chain, you can send it from a centralized exchange (CEX) such as Binance. The moment you get AVAX on your MetaMask, new opportunities will open up in DeFi on the Avalanche blockchain, and you will be able to provide liquidity, engage in staking and yield farming, or swap individual cryptocurrencies with each other.

If you don't know how to get your digital assets onto MetaMask, add mainets, or bridge between blockchains, check out our DeFi guide, where you can learn everything step by step.

Supported Wallets

MetaMask/ Coinbase Wallet / Core / TrustWallet / Coin98 / WalletConnect

Contracts

JOE: 0x6e84a6216eA6dACC71eE8E6b0a5B7322EEbC0fDd

xJOE: 0x57319d41F71E81F3c65F2a47CA4e001EbAFd4F33

sJOE: 0x1a731B2299E22FbAC282E7094EdA41046343Cb51

rJOE: 0x5483ce08659fABF0277f9314868Cc4f78687BD08

veJOE: 0x3cabf341943Bc8466245e4d6F1ae0f8D071a1456

AVAX: 0xB31f66AA3C1e785363F0875A1B74E27b85FD66c7

If you need to look up the address of another token on the Avalanche blockchain, use website

A detailed tutorial on how to add a token to your Web 3.0 wallet using token contracts can be found here: Add Tokens into the MM.

Platform Functions

Trade: Here, you swap tokens as you need, whether it is for trading purposes or to create a LP.

Pool: Your active LP will be displayed here, and you will also be able to create a new LP by clicking on ‘Create New Pool.’ You can choose between V2 Pools, All Pools, and My Pools.

Farm: Here, you can farm JOE tokens using LP tokens.

Launch: In launch, you can participate in the launch of new projects on the Avalanche blockchain. Thanks to this feature, it is possible to access new project tokens at discounted prices.

You can learn more about how launchpads work here: Launchpad.

Lend: In this section, you can deposit your cryptocurrencies as collateral, enabling you to then take out a crypto loan.

For detailed information on cryptocurrency loans, see Lending / Borrowing.

Stake: Here, you can stake native Trader Joe tokens, for which you will earn rewards or other benefits.

NFT: By clicking on NFT, you will be redirected to the platform, where you can trade or mint NFTs.

Where to Put Tokens

Before we create a LP, we need to know what tokens we want to use for it. A LP always consists of 2 different cryptocurrencies.

For token swapping, you need to click on ‘Trade.’ You will then see a menu where you can choose which token you want to swap.

Swap

If you cannot find the desired ERC-20 token in the list, you can find it at website and copy its contract address into the search bar as shown in the picture.

Address

To provide liquidity, you need to click on ‘Pool’, and you can then choose the specific pair for which you want to provide liquidity. Now, you can add or remove liquidity, choose a liquidity shape, and also keep track of the already created LP. After you enter the value of the tokens, you will see the ‘Supply’ button with which you can create the LP. You are then rewarded by the protocol for providing liquidity from the swapping fees.

Provide_LPP

For detailed information on specific LP strategies, using LP tokens for yield farming, staking, and lending, see Trader Joe - Opportunities & Risks.

Sources

Analyst Opinion

We have explained how to work with the Trader Joe platform, what its features are, where to find specific functions, and what opportunities the platform provides. Trader Joe allows you to swap and gain some interest on cryptocurrencies, participate in new project launches, provide cryptocurrencies as collateral for a loan, and even an environment for trading and minting NFT. Investing in decentralized finance (DeFi) carries many risks in addition to opportunities and profits. You always need to diversify and conduct thorough analysis (DYOR) before putting your money into DeFi projects. For a complete analysis and detailed operation of the Trader Joe Protocol, please read Trader Joe - Protocol.

René Užovič