Too Long; Didn't Read
$JOE is the token of the Trader Joe decentralized finance platform on the Avalanche blockchain. The platform offers decentralized trading, borrowing / lending, staking, yield farming and soon an NFT marketplace. I believe $JOE is undervalued as the market 1.) does not fully recognize the potential of the Avalanche blockchain; 2.) underappreciates the project’s strong moat and innovative team; 3.) overestimates the risk of customer departure as reward emissions decline. Through my analysis, I arrive at a market cap of $422.5 million utilizing the average of a DCF and market approach, representing 124.3% upside from the current price.