Trader Joe, a decentralized exchange (DEX) on the Avalanche blockchain, has announced plans to bolster the utility of its native governance token JOE and other ecosystem tokens, developers wrote Thursday.

Developers plan to bridge JOE tokens once the DEX is live on Arbitrum and BNB Chain, two other blockchain networks. JOE will be the governance token on those networks, with 1 JOE equal to 1 vote on Trader Joe’s governance forums, where holders can propose and decide on strategies or improvements for the platform’s future.

In addition, Trader Joe plans to provide stakers with a share of trading fees accrued on the DEX through staked joe (sJOE), a token given to users who supply JOE to the DEX in return for rewards.

(By Shaurya Malwa)