About

LFJ is a decentralized trading platform on the Avalanche network that combines DEX services with DeFi lending to offer leveraged Trading. The platform allows users to trade (AMM exchange), participate in yield farming, staking, and borrowing.

History

Launched on June 29, 2021, LFJ is a DEX, whose purpose is to provide swapping and trading services. However, this project also provides other basic DeFi features like staking, yield farming, and lending. In addition, Zap is a new feature of the project which allows users to swap for LP tokens in just one click. Amongst DEX, LFJ is one of the first to plan on executing limit order, which overcomes the weakness of decentralized exchanges in price slippage.

Being a community-driven project, it is governed by JOE, its governance token, and rewards holders by allocating fees collected from liquidation and swaps back to holders who stake JOE to get xJOE rewards.

The token has five main features:

1. Trade Token
2. Farm Token
3. Stake Token
4. Borrow Token
5. Governance

LFJ is implementing a phased approach to innovation:

Phase 1: Taking the traditional AMM model but adding many small improvements. This phase is about getting the fundamentals right. Phase 2: Offering lending, that combines with trading results in leveraged trading. This phase is about offering products still new to Avalanche. Phase 3: Bring innovation through research by offering unique and innovative DeFi offerings to the community.