Trader Joe (JOE) Launches DEX on Arbitrum, Expanding to L2s
Avalanche-native decentralized exchange Trader Joe is expanding its services by deploying an Ethereum-based scaling solution Arbitrum to capture new users. Per an article published by the Trader Joe team, the priority for innovation and growth will still be the Avalanche Network while the protocol seeks out its multi-chain vision by launching on more chains this year. As one of Trader Joe’s developers said in the announcement: Trader Joe is one of the largest DEXs on Avalanche, and as of 2nd January, the protocol has a TVL of over $75M on the chain and is the most used application by volume. The protocol has been expanding its ecosystem by partnering with other companies, some of its most notable partnerships being with Trust Wallet and Crypto.com in the last year. Trader Joe is live on #Arbitrum! #Arbinauts can now access the power of the innovative Liquidity Book AMM Trader Joe also recently launched version 2 of its Automated Market Maker (AMM), called Liquidity Book. While in a traditional AMM the liquidity provided by users is distributed evenly across price ranges from 0 to infinity, the Liquidity Book by Trader Joe enhances the efficiency of liquidity providers by allowing them to collect trading fees within a specific price range. Liquidity Book With the introduction of Liquidity Book, Trader Joe looks to compete with the likes of Uniswap V3, which has a similar architecture. Trader Joe v2 has reached a TVL of over $7 million, with more than 80% of that on Avalanche and the rest on Arbitrum. By launching its v2, the Trader Joe community expects its platform to become the home for all DeFi activity on Avalanche and Arbitrum. Trader Joe’s expansion to other chains shows that the multi-chain vision might still be alive despite many alternate L1s seeing a significant fall in prices and TVL over the last year. The launch of DEX’s V2 could potentially have some impact on Uniswap’s TVL as well.
“Deployment to Arbitrum One is the next step in this global expansion effort.”
For detailed deployment info: https://t.co/RUSnFekxeP pic.twitter.com/OTNeT1BXsOTrader Joe v2
The most efficient AMM in DeFi, Liquidity Book offers true flexibility for Liquidity Providers and ZERO slippage swaps for Traders
Liquidity Book enables true sustainability with $JOE tokenomics. And you can bet Trader Joe is doubling down on LB in 2023. pic.twitter.com/EMm1euwG42On the Flipside
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Read more: https://dailycoin.com/trader-joe-joe-launches-dex-on-arbitrum/
Text source: DailyCoin.com
