Trader Joe joins Ethereum with Arbitrum jpg

Trader Joe joins Ethereum with Arbitrum

Defi news, News

The Avalanche-based decentralized exchange expands into the Ethereum ecosystem by deploying on the Arbitrum chain.

The deployment is scheduled to become active on Arbitrum’s testnet over the next few days, as stated in the statement. It is predicted that it will become operational on the mainnet sometime in the beginning of January.

Trader Joe will not deploy the JOE Token, the loan platform Banker Joe, the NFT marketplace JoePegs, or its staking platform created on Avalanche during this first phase of the project.

In addition to the Trader Joe’s Liquidity Book Automated Market Maker (AMM), Trader Joe has said that the Joe V1 Automated Market Maker (AMM), the protocol’s first automated market maker (AMM), would also deploy on Arbitrum One.

Arbitrum was selected by Trader Joe because its ecosystem is rich in cutting-edge protocols and has participation from a large number of DeFi protocols that are considered to be industry leaders.

In tandem with this development, Arbiturm’s TVL has expanded to have a majority stake in the L2 sector and the ecosystem that is home to more than 400 DeFi and NFT projects. Trader Joe pointed out that the deployment of Liquidity Book into Arbitrum would be a wonderful contribution to the thriving ecosystem.

Compiled by Coinbold

Avalanche, ETH, NFT