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How To Use Trader Joe on Coin98 Wallet: An A-Z Guide

Publish by The Junior Builder at 05 October 2021

Coin98 Wallet just became the first cryptocurrency wallet integrated into Trader Joe in this July, giving users easy access to the world of DeFi through the unmissable benefits of a multi-wallet, which is Asia's leading chain.

In this article, I will guide you step-by-step through the process of earning profit on Trader Joe right on Coin98 Wallet in the simplest and most detailed way. This guide includes the following main points:

  • How to Swap Trader Joe natively on Coin98 Wallet
  • How to swap on Trader Joe.
  • How to add liquidity on Trader Joe.
  • How to farming on Trader Joe.
  • How to stake JOE to receive XJOE.
  • How to ZAP on Trader Joe.

Trader Joe Overview

Trader Joe is a comprehensive AMM decentralized finance protocol built on the Avalanche blockchain, supporting Avalanche C-Chain tokens. Trader Joe is a combination of DEX and DeFi lending to provide leveraged trading and bring users a perfect trading experience with high speed and low cost.

Currently, there is a limit on the number of AMMs on the Avalanche, which means that the threat of competition for Trader Joe at the moment is very low.

How to start earning on Trader Joe

Download and install Coin98 Mobile Wallet

Trader Joe is now available on the Coin98 Mobile Wallet for both iOS and Android users:

Read the detailed instruction about how to use Coin98 Wallet or watch the tutorial video below to install the Coin98 Mobile Wallet:

Create Avalanche wallet (C-chain)

As Trader Joe is an AMM on the Avalanche blockchain, you definitely need an Avalanche C-Chain wallet (AVAX-C ARC20) to start using this.

After installing Coin98 Wallet, you can refer to the guidelines below to create Avalanche C-Chain wallet (AVAX-C ARC20), or restore Avalanche C-Chain wallet (AVAX-C ARC20) from other platforms to Coin98 Wallet.

  • How to create a Multi-chain Wallet (recommended).
  • How to create a Avalanche (AVAX C-chain) wallet here.
  • How to import Metamask wallet to Coin98 Wallet here.
  • How to import Trust Wallet to Coin98 Wallet here.

If you are already a Coin98 Wallet user, you should import multi-chain wallets again to get updated with wallets on Avalanche C-Chain (AVAX-C ARC20), as well as other integrated blockchains on the latest version automatically.

On Trader Joe, whether you’re using USDT or AVAX, you need to transfer them all to your Avalanche (C-chain) wallet.

Note: Avalanche has 3 chains: C-chain, X-chain, P-chain, corresponding to different AVAX tokens. The wallet address will be changed after each transaction. Please carefully check the address before using it to transfer your coins/tokén instead of using the previous AVAX (X-Chain) wallet address.

Prepare AVAX (C-chain) to pay for the gas fee

Trader Joe uses AVAX (C - chain) for the gas fee, therefore, to start earning on Trader Joe, you need to have AVAX (C - chain) in your account.

You can use the Coin98 Wallet Cross-Chain bridge to convert AVAX C-Chain to AVAX X-Chain and vice versa. This is one of the outstanding solutions that make it easy for you to use Trader Joe.

Now everything’s ready, let’s start trading.

How to Swap Trader Joe natively on Coin98 Wallet

Step 1: On the homepage, click Swap.

Step 2: Select Trader Joe.

Step 3: Click the settings icon at the top right corner of the screen and choose between 2 interface options: the Basic UI (1) and the Pro UI (2).

Users must fill in the following information to complete the transaction:

  • Select the wallet containing the token/coin that you want to trade.
  • Choose the trading pair from the list: For example, AVAX and JOE. Users can choose other tokens as preferred.
  • For those tokens that haven’t been listed on Coin98 Wallet, users can trade using their contract addresses.

Step 4: Slide the bar to adjust the trading amount. Carefully read the information before deciding to trade:

  • Rate & Inverse rate: The price ratio of the 2 tokens.
  • Price impact: Estimated % difference in price when swap compared to the displayed price.
  • Liquidity Provider Fee: the amount of fees that will be used to pay the liquidity providers fees.
  • Gwei bar: a feature that allows users to adjust the amount of Gas fee (transaction fee) according to their needs by sliding the bar.
  • Share URL: Share trading pair via url.

Step 5: Select Approve → Click Swap to finish.

Note: Users can also adjust the gas fee and slippage by clicking the settings icon at the top right corner of the trading interface.

  • Slippage Tolerance: This is one of the most common reasons for swap failure. You can trade with the default slippage rate on the wallet (2%), or customize it higher to ensure the highest success rate.
  • Transaction Deadline: the maximum transaction time that you can specify to avoid the case of long waiting time without any matching orders.
  • Unlimited Approval: a feature that enables users to grant platforms and smart contracts the permission to spend tokens/ coins on your behalf without limit.
  • Default Pair: the default tokens for each trading pair.
  • The default gas fee on Coin98 Wallet has been set for the highest speed with the most reasonable cost.
  • The arrow in the middle of the trading interface is used to switch between the buying and selling positions. Users need to check the tokens’ positions carefully before making any transactions.

After swapping successfully, users can access the Trade History from the swapping interface to view their transactions or go back to the home screen to check the traded tokens if needed.

How to use Trader Joe on the Coin98 DApp Browser

To access Trader Joe, after logging in to your Coin98 Wallet account, click Browser on the home screen and select Trader Joe in the Exchange section.

Normally, your AVAX-C ARC20 wallet on Coin98 Wallet will be automatically connected to Trader Joe.

If you have more than one Avalanche (C-Chain), you can easily select the desired wallet by clicking on the wallet option at the bottom right corner of the screen.

In case Coin98 Wallet does not connect to Trader Joe automatically, please Click Connect to a wallet in the below left corner of the screen -> select Coin98 Wallet from the list.

Swap

On the homepage, Click Trade on the navigation bar or select the Trade icon in the middle of the screen.

Step 1: Select the token and enter the amount you want to trade from the list.

I will use the AVAX and JOE pair as an example in this guide. If you want to Swap other tokens, you just need to choose the corresponding tokens in the list. For those that haven’t been listed on the Trader Joe, you can still trade using their contract addresses.

Step 2: Read the transaction information carefully:

  • Maximum sold: The maximum number of tokens that you will swap
  • Price impact: Estimate the % difference in the confirmation time compared to the price on the screen.
  • Liquidity Provider Fee: 0.25% of each transaction will be used to provide liquidity.

Step 3: Click Swap.

  • The system will pop-up the transaction again on the screen, if you agree, Click Confirm Swap.
  • The system will charge a very small network fee to Swap, if you agree, click Send.

Add liquidity

On the homepage, Click Pool on the navigation bar or select the Pool icon in the middle of the screen.

Step 1: Select the token pair that you want to contribute to the liquidity pool. I will choose JOE-WAVAX

Step 2: Enter the amount of each token, Click Approve JOE. The system will charge a very small fee to Approve, if you agree, click Send.

Step 3: Click Supply ⇒ Confirm Supply to make the liquidity contribution.

Step 4: Click Send if you agree with the fee of liquidity contribution.

So we have completed adding liquidity to the pool. You can check your liquidity contribution at My Pools.

Farming

On the homepage, Click Farm on the navigation bar or select the Farm icon in the middle of the screen.

Step 1: Select the Farm you want to join. You can click on the search bar to choose.

I will choose the JOE-WAVAX pair as an example -> choose Approve. The system will ask you to pay a small network fee to join the farm, if you agree, click Send.

Step 2: Enter the amount of LP Token you want to Farm Stake.

Trader Joe will ask for a small fee to confirm, click Send.

After the transaction is completed, the system will display the real-time amount of LP tokens and tokens you’ve received.

If you want to collect this amount, click Harvest.

Stake JOE to receive XJOE

On the homepage, Click Stake on the navigation bar or select the Stake icon in the middle of the screen.

Step 1: Click Approve.

Step 2: Enter the amount of JOE you want to Stake, click Stake. The system will need a small fee to confirm, click Send.

Step 3: After the Stake is completed, the system will display the real-time amount of staked JOE and the corresponding amount of xJOE to be received.

If you want to stake more JOE, repeat the step 2.

For each swap on JOE, a 0.05% fee will be collected to xJOE and used to buyback JOE tokens. Currently, the buybacks are occuring every 2 days. When you unstake, you will receive all the originally deposited JOE and any additional from fees.

If you want to unstake, Click Unstake and do the same.

ZAP on Trader Joe

This is a new and outstanding feature on this AMM. Normally, if you want to Farm, you have to own 2 separate tokens and go through the Add Liquidity step to receive LP token. This will take a long time and transaction fees. But with Zap, you just need to exchange any token to get an LP token with just 1-click without having to go through many operations such as buying more tokens or adding liquidity.

On the homepage , Click Zap on the navigation bar or select the Zap icon in the middle of the screen.

Step 1: Select the token and LP Token that you want to Zap. I will choose JOE and the JOE-WAVAX Click Approve JOE.

Step 2: After completing the Approve, continue to choose Zap. The system will charge a small fee to confirm, click Send.

So you have successfully Zap a token to a LP pair with only 1-click. It's convenient and simple, isn't it?

How to use Trader Joe on browser

From the homepage of Trader Joe, click Connect Wallet and select Coin98 Wallet on the list.

If you have more than 1 AVAX-C ARC20 wallet, you can easily select the desired wallet by clicking on the Coin98 wallet option at the upper right corner of the screen click Manage ⇒ Manage All Wallets select your wallet.

Note: You guys should convert the Web3 Priority of Coin98 Extension Wallet to Avalanche C-Chain!

Select the Web3 Priority bar → select Avalanche C-Chain (AVAX-C & ARC20).

Let’s get started!

Swap

On the homepage, Click Trade on the navigation bar or select the Trade icon in the middle of the screen.

Step 1: Select the token and enter the amount you want to trade from the list.

I will use the AVAX and JOE pair as an example in this guide. If you want to Swap other tokens, you just need to choose the corresponding tokens in the list. For those that haven’t been listed on the Trader Joe, you can still trade using their contract addresses.

Step 2: Read the transaction information carefully:

  • Maximum sold: The maximum number of tokens that you will swap
  • Price impact: Estimate the % difference in the confirmation time compared to the price on the screen.
  • Liquidity Provider Fee: 0.25% of each transaction will be used to provide liquidity.

Step 3: Click Swap.

  • The system will pop-up the transaction again on the screen, if you agree, Click Confirm Swap.
  • The system will charge a very small network fee to Swap, if you agree, click Send.

Add liquidity

On the homepage, Click Pool on the navigation bar or select the Pool icon in the middle of the screen.

Step 1: Select the token pair that you want to contribute to the liquidity pool. I will choose JOE-WAVAX

Step 2: Enter the quantity of each token Click Supply ⇒ Click Confirm Supply.

The system will charge a very small fee to provide liquidity, if you agree, click Send.

So we have completed adding liquidity to the pool. You can check your liquidity contribution at My Pools.

Farming

On the homepage, Click Farm on the navigation bar or select the Farm icon in the middle of the screen.

Step 1: Select the Farm you want to join. You can click on the search bar to choose.

I will choose the JOE-WAVAX pair as an example

Step 2: Enter the amount of LP Token you want to Farm Stake.

Trader Joe will ask for a small fee to confirm, click Send.

After the transaction is completed, the system will display the real-time amount of LP tokens and tokens you’ve received.

If you want to collect this amount, click Harvest.

Stake JOE to receive XJOE

On the homepage, Click Stake on the navigation bar or select the Stake icon in the middle of the screen.

Step 1: Enter the amount of JOE you want to Stake, click Stake. The system will need a small fee to confirm, click Send.

Step 2: After the Stake is completed, the system will display the real-time amount of staked JOE and the corresponding amount of xJOE to be received.

If you want to stake more JOE, repeat the step 2.

For each swap on JOE, a 0.05% fee will be collected to xJOE and used to buyback JOE tokens. Currently, the buybacks are occuring every 2 days. When you unstake, you will receive all the originally deposited JOE and any additional from fees.

If you want to unstake, Click Unstake and do the same.

ZAP on Trader Joe

On the homepage , Click Zap on the navigation bar or select the Zap icon in the middle of the screen.

Step 1: Select the token and LP Token pair that you want to Zap. I will choose JOE and the JOE-WAVAX

Step 2: Enter the number of tokens you want to Zap Click Zap. The system will charge a small fee to confirm, click Send.

So you have successfully Zap a token to a LP pair with only 1-click. It's convenient and simple, isn't it?

Note: The gas fee on Coin98 Wallet has been optimized for users to make fast transactions with the most reasonable cost. You can adjust the gas fee slider to suit your needs.

Why you should use Trader Joe on Coin98 Wallet

For both the newbies and the “4.0 farmers”, using Trader Joe on the Coin98 Wallet DApp Browser brings undeniable benefits, such as:

Simple, easy to access

For the browser, Coin98 Wallet has been integrated into Trader Joe, you only need to access and connect the wallet with a single click.

Besides, the DApp Browser is integrated in the Coin98 Mobile Wallet for both iOS and Android users. Just by clicking Browser on the home screen, you’ll be seamlessly taken to the marvelous DApp world.

Minimized risks of scams

Coin98 Wallet constantly strives to find the most trustworthy DApps with great use cases while prioritizing users’ security and privacy.

Coin98 Wallet directly integrates the exact addresses of all DApps on the app, which prevents the cases of searching and accessing fake DApps that steal users’ Private Keys/Passphrases, or swapping scam tokens.

The Cross-Chain Bridge

Considered as one of the innovative features of Coin98 Wallet, the Cross-Chain Bridge allows users to interact withTrader Joe easily. Now you can directly convert many token standards right on the wallet via Cross-chain Bridge without using third parties.

Numerous DApps

If you are inclined towards earning on Trader Joe after reading this article, why miss out on the great experience of trying other multi-chain DApps on the Coin98 Mobile Wallet DApp Browser?

Stay tuned for the upcoming planets that are about to be integrated into the Coin98 Wallet Universe!

Summary

I have introduced and shown you the detailed ways to optimize profits with Trader Joe. If there are any problems or questions during the process, please leave a comment below, Coin98 team will support you right away!

In addition, do not forget to follow the series Coin98 Earn to not miss any earning opportunities through Testnet, Airdrop, Play To Earn,,…. using Coin98 Wallet!

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