Avalanche AVAX has been in my radar since December 2020. But I was not able to buy any of it as my focus at that time is with Solana SOL and Terra LUNA. Avalanche has just launch its mainnet months prior to that and there are still a lot of things to iron out at that time. It is just reasonable for me to prioritize others first.
I did not expect AVAX to went high above 30. But then came Bitcoin's crash last April. AVAX just like all blue-chip crypto projects was not spared from the bloodbath. I got an a very good entry and I bought below 20 back in June and July. I even bought more when the price went to 9 or 10. At that time, there are only four decentralized exchanges on Avalanche. After I made my research and analysis, I decided to go all in to Trader Joe's JOE which at that time is just .025 to .03.
At the start, I know that JOE will be massive and could have the chance to become the number one DEX in Avalanche. I was right. Trader Joe's strength lies in its user-friendly interface. It simplified doing DeFi with all of the options being lined on the top portion in a chronological order instead of the right portion which was first introduced with Ethereum-based DeFi apps and even getting large following among BSC-based DeFi apps. This made doing DeFi easy especially for new users.
A few thousands I've put on JOE gave me massive profits not to mention at that time that I am earning thousands of JOE from farming every day. I still have most of those JOE. Although I am not earning that much after the price went to more than two dollars and as more users provided liquidity, I have a lot of options to get more rewards from compounders like Penguin Finance. Going back to Decentralized exchanges or DEXes, I have other bets which I think could somehow follow the steps of Trader Joe.
First, Lydia (https://lydia.finance). In my opinion, this is the most underrated DEX. It recently abandoned its old interface similar to that of Pancakeswap and adopted the interface which was popularized by Trader Joe. Its LYD token currently sits at around 6 cents with a marketcap of almost 10M. Lydia also has its own launchpad in which profits are being used to buy back and burn LYD. To date, Lydia has burned more than 23M LYD.
Second, PartySwap (https://app.partyswap.io). This is a relatively new DEX which launched almost three months ago. It has a very good interface too with impressive designs. Its PARTY token is currently valued at .045. PartySwap plans to launch its own NFTs soon which will have utility within the platform.
Third, HurricaneSwap. This is a cross-chain DEX which has launched almost three months ago. The project conducted its sale through Avalaunch, Avalanche's most successful and biggest launchpad. In addition, it has Kucoin Labs, Huobi Ventures, Gate.io Labs and MEXC Labs as its large investors. Its HCT token is currently valued at .15.
Fourth, Canary Exchange (app.canary.exchange). This is an exchange which emphasize focus to its community. 95 percent of the total 562M supply is for the community with five percent allotted for airdrops to early supporters and 90 percent as rewards. There is also halving of rewards every four years. Its CNR token is currently valued at .018. Canary is also set to launch its own NFTs which could be used to earn rewards on the platform.
Lastly, Pangolin (app.pangolin.exchange). Pangolin was the leading DEX in Avalanche for months before Trader Joe overtook it last September. It is set to launch its v2 with plans to burn 57 percent of all remaining PNG tokens to make it even rare. The current total supply of PNG is 538,000,000 with a price of just a little above 2.00.
Avalanche continues to grow and new users are looking into getting bigger rewards while paying less for gas fees and without waiting too much just for the transaction to be confirmed. Among DEXes in Avalanche, there is also a competition. But it is a healthy one. These DEXes are constantly improving their interface, tokenomics and rewards programs. With this type of healthy competition, it is the users who are the ultimate winners.
