Defi Buy Alert
Added 2022-01-11 17:50:21 +0000 UTCBuy Alert
JOE, the governance token for Trader Joe, the top decentralized exchange on Avalanche.
$4000 @ $1.43 (~2% portfolio add)
The Logic:
2021 was a year of big growth for the Avalanche network.
In December, JOE actually had more active users than all other top DEXs including Uniswap
https://twitter.com/Gojo_Crypto/status/1476331765308346369
If you look at the market cap to active user ratio of Trader Joe compared to other Dexes.. This indicates JOE may be undervalued. https://twitter.com/Gojo_Crypto/status/1476331769196548097/photo/1
The thing is, Avalanche had a huge Q4 with DAOs and token launches every day..
All of those new tokens were being purchased on Trader Joe.
However, while the volume of the platform is surging, the price of JOE is currently 63% down from its all time high.. https://coinmarketcap.com/currencies/joe/
I don’t know if JOE is a 100x or not, but if you’re looking to profit off the AVAX ecosystem and you want more upside potential, then Trader Joe looks like a solid pick at current prices.
The Issues:
-JOE is a smaller cap token (around $200 million) which means more volatility risk. Please do your own research, this is not financial advice!
-JOE isn't available on a ton of exchanges, here's everywhere it's available: https://coinmarketcap.com/currencies/joe/markets/
How I Purchased So I Can Also Stake (this might sound a little complicated):
1. Buy $4000 of AVAX on Kucoin https://www.kucoin.com/ucenter/signup?rcode=rJMS45S
2. Send AVAX to my metamask wallet (MAKE SURE YOU ADD THE AVAX NETWORK, this can be done easily by visiting https://traderjoexyz.com/, opening metamask, and adding the Avalanche network)
3. Swapping AVAX for JOE on https://traderjoexyz.com/#/trade
4. Staking JOE for 38% APR on https://traderjoexyz.com/#/stake
5. This swapped my JOE for xJOE and it is now staking (if you do this remember to add xJOE to your tokens to view it in your wallet)
If all of this seems totally overwhelming, that's okay! You don't have to go this crazy.
Other ways to benefit from the Avalanche ecosystem:
1. Buy AVAX outright and hold, this is MUCH more simple, less risky, and easier to purchase on many exchanges: https://coinmarketcap.com/currencies/avalanche/markets/
2. Buy JOE on an available exchange and hold without worrying about staking (note it appears to be available on Binance but not Binance US) https://coinmarketcap.com/currencies/joe/markets/
Again, not financial advice. Happy hunting!
Comments
I'm also a little confused, do you leave your joe in stake or unstake to put the xjoe in farm?
2022-01-28 15:11:18 +0000 UTCThanks for the answer Max: but let me get this straight, where do those xJOEs compound? Do they appear in the farming pool? Because no new xJOE is added since I farmed 3 weeks ago. The only thing I can do is harvest my farm in form of JOEs, which I can get to stake the new JOEs in order to get xJOEs.
2022-01-27 17:50:27 +0000 UTCI farmed my xJOE on the platform. Where will my xJOE will be compunded to? Will the ne xJOE will be added to the farming pool?
2022-01-27 13:45:58 +0000 UTCHey Max, so did you farm your xjoe too? If so, where did you do it?
2022-01-23 01:09:06 +0000 UTCHi Max, First of all - want to say that I enjoy every moment of all the recommendations and content you upload - totally worth the investment! I would be happy if you could sharpen a question for me (sorry in advance if this is a stupid question): I did the whole process as you explained - and it worked great! When I decide to withdraw the money from the strike, Will the profits I get to withdraw appear under the ROI column? Or is there some commission / offsetting operation that takes place before I withdraw? Also, do I get a joe token after the withdrawal? And can I transfer Joe token to a Binance account directly, or do I need to convert to AVAX beforehand? Thank you!
2022-01-19 14:20:41 +0000 UTCMax, do you do (or plan on doing) selling alerts if a project you invested in starts going bust or gets exposed for doing something bad? For example, you mentioned that we currently have approx. 10 Ethereum killers on the market. Over the course of time, some will definitely get pushed to the sidelines.
2022-01-18 13:40:24 +0000 UTCHey I’m new to all of this is it still a good time to buy in
2022-01-14 19:15:29 +0000 UTCWould buying Avax on Coinbase and sending it to Metamask be an onboarding option?
2022-01-14 08:41:29 +0000 UTCJust did it. Thanks!
2022-01-13 17:51:16 +0000 UTCWhen you stake Joe you receive xJoe
2022-01-13 08:43:55 +0000 UTCThis was on my list of tokens for a while. you just reaffirmed my sentiments :)
2022-01-12 22:45:25 +0000 UTCMax do you have a Twitter account? If so is your Twitter @maxwel_maher
2022-01-12 20:08:24 +0000 UTCDidn’t decide until now that it seems BTC price is stable. All went smoothly staking with Trader Joe
2022-01-12 20:02:48 +0000 UTCHi Max, I like Joe and have been waiting for price to go down so thanks for the reminder!! ;) So, I staked 2100 Joe but its only showing 1700 xJoe being staked not sure what happened there ..any ideas? https://snowtrace.io/tx/0x43ae915d55e8651903a61ab36d0bddf8ca11f2616a1b3808a232f83ab8ef884f
2022-01-12 19:53:30 +0000 UTCWish could buy it easier stateside. Not even on Kucoin or any Bit…
Ed
2022-01-12 19:32:05 +0000 UTC
