JOE coin belongs to the decentralized finance (DeFi) sector. DeFi is a financial system that uses blockchain technology to provide traditional financial services without relying on centralized intermediaries. JOE coin is the governance token of the Trader Joe platform, allowing users to participate in platform governance, including voting, making suggestions and sharing profits. Other major DeFi sector tokens include UNI, AAVE, COMP, MKR, and YFI.
Which sector does JOE coin belong to?
JOE coin belongs to the Decentralized Finance (DeFi) sector.
What is Decentralized Finance (DeFi)
Decentralized Finance (DeFi) is a financial system that uses blockchain technology to provide traditional financial services without relying on centralized intermediaries such as banks . DeFi aims to make financial services more transparent, efficient and inclusive.
The Role of JOE Coin in the DeFi Ecosystem
JOE Coin is the governance token of the Trader Joe platform. Trader Joe is a decentralized exchange (DEX) that allows users to buy and sell crypto assets on the Fantom blockchain.
As a governance token, JOE coin holders can participate in the governance of the Trader Joe platform, including:
Other DeFi sectors The main tokens
In addition to JOE coin, other dominant tokens in the DeFi sector include:
In the cryptocurrency market, the price of JOE surged by 4.75% in the last 24 hours. As of 15:00 on July 9, 2024, its value reached $0.299674057027, with a trading volume of $5150342.5179277. The circulating supply of JOE is 359694222, the maximum supply is 500 million, and the total supply is the same as the circulating supply. Its circulating market capitalization reaches a staggering $107791026.79591, reflecting the market’s confidence in its growth.
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