7 Reasons to Make you Trade with Trader Joe
Let's welcome Trader Joe to the BNB Chain community as we take a deeper look at 7 reasons to make you trade with Trader Joe.
What is Trader Joe?
Trader Joe is a one-stop decentralized trading dApp launching on BNB Chain in Q1 of 2023. Trader Joe offers a comprehensive DeFi platform where users can trade, lend and leverage, participate in a launchpad and shop for NFTs.
The origins of Joe were born from a blended desire to create a unique and truly innovative trading platform that would serve a global and burgeoning audience at the frontier of the decentralized finance industry.
Since launching, Trader Joe has attracted over $1.5 billion in assets and has gained backing from some of the most widely recognized investors in the industry including Three Arrows Capital, DeFiance Capital, GBV Capital, Mechanism Capital, and more.
According to DeFillama, Trader Joe has more than $110 million in TVL on the dApp. Trader Joe stands apart from other DeFi platforms by giving users multiple trading features and options paired with an intuitive UI.
Why Launch on BNB Chain?
BNB Chain is the largest blockchain in terms of daily active users processing millions of transactions with some of the lowest fees. DappBay has listed close to 1000 BNB Chain dApps with more than a million Web3 daily users accessing different types of decentralized applications. The addition of Trader Joe to BNB Chain gives BNB Chain users access to the most efficient AMM in DeFi while giving Trader Joe access to users on one of the most active L1 blockchains.
Alvin Kan, Director of Growth and Ops at BNB Chain said: “the addition of the Trader Joe DEX and Joepegs NFT Marketplace will greatly enhance the offerings available to our community. The ability to discover and trade premium digital collectibles, as well as participate in the launch of new NFT collections, is a major benefit for our community. We believe the efficiency and security of BNB Chain, combined with the user-friendly offerings of the Trader Joe DEX and Joepegs NFT Marketplace, will drive growth and success for the wider NFT and DeFi ecosystem.”
7 Reasons to Trade with Trader Joe
Traders can use Trader Joe to trade tokens, provide liquidity, farm, stake crypto, trade NFTs through Joepegs, lend or borrow tokens, and bridge tokens across blockchains.
1. Trade tokens
Traders can trade top tokens, large-cap tokens, DeFi tokens, stablecoins, and GameFi tokens on BNB Chain, Avalanche, and Arbitrum One on Trader Joe. Traders can also set up custom trades with a transaction deadline, enabling safe mode to avoid high price impacts, or setting a normal or low slippage tolerance. An intuitive UI means you can add a token to your wallet with the click of a button.
2. Provide liquidity
Liquidity providers can provide liquidity on one of several liquidity pools at Trader Joe. Users can provide liquidity by selecting a pool, and depositing a selected amount of two tokens. When a trader makes a trade in a particular pool on Trader Joe, LPs earn an interest in fees for providing liquidity in that pool. Liquidity Book's UI has the ability to concentrate liquidity at a certain distance or ‘radius’ around a specific price.
Liquidity providers can stake their LP tokens and earn APR in JOE tokens with Trader Joe Farm. Users can access important metrics such as share of the farm, staked LP tokens, boosted APR, liquidity and more. Users can harvest JOE or unstake LP tokens at any time on Trader Joe Farm.
Trader Joe traders can stake their JOE tokens to earn more tokens in the Trader Joe staking pool. Stakers can earn USD Stablecoin when staking sJOE. Traders can boost their JOE rewards by staking veJOE tokens.
5. Trade NFTs
Joepegs is an NFT marketplace on BNB Chain where users can discover NFT collections ranked by volume and sales, mint NFTs, and explore digital art. Joepegs is built by Trader Joe and helps users discover great NFTs through their launchpad and decentralized marketplace.
6. Lend and Borrow
Users can lend tokens and earn an APY return paid in that token on Trader Joe. Alternatively, users that need liquidity can borrow tokens and pay interest for doing so. Essentially, users can lend, borrow and repay the borrowed principal all on the same UI.
7. Bridge Tokens
Traders can bridge tokens between BNB Chain, Arbitrum, and Avalanche using the bridge feature on Trader Joe. Bridging tokens means users can transfer tokens across different blockchains with ease.
Trader Joe and BNB Chain dApps
Secondlive announced a partnership with Trader Joe's NFT marketplace, Joepegs. Joepegs aims to bring NFTs to dApps and users on BNB Chain. According to BSCDaily, Trader Joe was also listed on Magic Square, the Web3 discovery and engagement platform. In the same month, Trader Joe was one of the leading dApps listed on DappBay along with Notifi, CyberConnect, Gritti, PIP and more.
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Disclaimer: DappBay is an open platform for all developers building on BNB Chain to display their projects. Description and information on dApps listed on DappBay are directly provided by the developers of the respective project. Projects featured on DappBay are not recommended, vetted or endorsed by BNB Chain Labs, BNB Foundation or any other affiliated entity. Do your own research - you are solely responsible for your investment decisions and your use of any project featured on DappBay is at your own risk. The material available in DappBay should not be construed as financial advice.