Trader Joe (JOE) operates as a decentralized trading platform on the Avalanche network, offering users a wide range of financial tools that combine DEX services and DeFi loans. This project, which prioritizes the community, aims to maintain its competitive advantage in the DeFi space by providing governance and rewards through the JOE token, as well as innovative features and a phased development strategy. Trader Joe’s goal is to enhance user experience and lead in DeFi solutions with features like limit orders and Zap.
What is Trader Joe (JOE)?
Trader Joe is a decentralized trading platform that operates on the Avalanche network. It offers users a comprehensive set of financial tools, including decentralized exchange (DEX) services and decentralized finance (DeFi) loans. These tools encompass trading through an automated market maker (AMM) exchange, yield farming, staking, borrowing, and leveraged trading. For the latest financial and business news, visit COINTURK FINANCE.
The platform was launched on June 29, 2021, to facilitate token swaps and trading. In addition to its core services, Trader Joe has expanded its capabilities to include essential DeFi functions such as staking, yield farming, and lending. One notable feature offered by Trader Joe is Zap, which simplifies and streamlines the process by allowing users to convert their assets into liquidity provider (LP) tokens with just one click. Furthermore, Trader Joe is at the forefront of implementing limit orders in the DEX space, addressing the common issue of price slippage in decentralized exchanges.
Trader Joe operates as a community-focused project with governance centered around its native token, JOE. Token holders have a voice in the platform’s governance and receive rewards through the distribution of fees collected from liquidations and swaps. These rewards are given to users who stake JOE, earning them xJOE in return.
JOE serves multiple functions within the Trader Joe ecosystem. It can be used for trading, farming, staking, borrowing, and governance purposes. This multifunctional approach allows JOE token holders to engage in various activities on the platform, increasing its utility and attractiveness.
Trader Joe’s development strategy is divided into three phases. The first phase focuses on establishing a solid foundation for the platform by gradually improving the traditional AMM model. The second phase introduces lending services, an innovative product for the Avalanche ecosystem that enables leveraged trading when combined with trading. The third phase is dedicated to research-driven innovation, aiming to offer the community unique and cutting-edge DeFi solutions.
Through its phased approach, Trader Joe aims to continuously enhance its offerings and maintain a competitive edge in the DeFi landscape. The platform’s commitment to innovation, coupled with its community-focused governance model, positions it as a significant player in the evolving DeFi world on the Avalanche network.
How to Buy Trader Joe (JOE) with TRY?
For investors in Turkey who want to buy Trader Joe (JOE), Binance TR is the most suitable cryptocurrency exchange. Binance TR allows you to create an account quickly and offers over 100 cryptocurrencies, including JOE, for buying and selling. To buy Trader Joe (JOE) with Turkish Lira (TRY) on Binance TR, follow these steps:
How to Open an Account on Binance TR?
Opening an account on Binance TR is a straightforward process. To do so, go to trbinance.com and proceed with the “Create Account” step. In the first step of creating an account, you will be required to provide basic information such as your email address, phone number, name, date of birth, nationality, and Turkish ID number.
Once you have entered all the requested information accurately, an email/SMS verification will be conducted to confirm and verify the information. After completing this process, you will proceed to the second step, which is identity verification (KYC).
How to Verify Your Account on Binance TR?
Identity verification on Binance TR is a necessary security procedure that must be completed before engaging in cryptocurrency trading and during account creation. This process is essential to protect both the user and the cryptocurrency exchange. You can perform the verification process using your phone or through Binance TR’s official website. Please note that you will need your mobile phone to perform identity verification via the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears using your phone’s camera and continue the process on your phone. If you are unable to scan the QR code, you can click on the “Copy URL” option to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen similar to the one below will appear on your phone. From here, continue by selecting the “Identity” option first.
Then, a screen like the one below will appear. To proceed with the verification process, first select the appropriate document type.
After selecting the document type, you can continue by selecting the “Upload front side” option. Take a photo of the front side of the document you have chosen, and then select the “Upload back side” option and take a photo of the back side of the document. Ensure that the images are clear and that the information in the photo is easily readable when capturing photos of the front and back sides of your ID card or driver’s license.
Next, you can proceed by selecting the “Selfie” option. Your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible after the camera opens.
Once you have accurately and completely completed all these steps, your identity verification process will be completed shortly.
How to Deposit Turkish Lira (TL) on Binance TR?
You can easily deposit Turkish Lira (TL) into your Binance TR account from any bank. You can deposit TL 24/7 and make uninterrupted transactions from your accounts at Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. Deposits over 50,000 TL from other banks are processed during EFT hours. To deposit money into your Binance TR account, first go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
A page like the one below will appear, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank does not yet have integration with Binance TR, you should proceed by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST transfer to that bank. All you need to do now is use the information shown on the page of your preferred bank to transfer the desired amount into your Binance TR account via transfer, EFT, or FAST transfer.
Once your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy JOE Coin with Turkish Lira (TL) on Binance TR?
After completing the deposit process, you can proceed to purchase JOE coins with Turkish Lira (TL) by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After clicking on this option, the page below will open. To go to the page for purchasing JOE coins with TL, type “JOE” in the search section on the right side of this page and click on the JOE/TRY option from the search results.
Now, the JOE trading page below will open. On this page, in the area marked with a red box, enter the price at which you want to buy JOE in the first box and the number of JOE coins you want to purchase in the second box. After entering the amount, complete your purchase by clicking the “Buy JOE” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange in terms of trading volume, officially launched its platform Binance TR specifically for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR offers both fiat-to-crypto and crypto-to-crypto trading services by leveraging Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
With Binance TR, users have access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls, all supported by Binance’s core functionalities.
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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
