Avalanche DEX is being deployed on Arbitrum by Trader Joe
Trader Joe, a decentralized exchange built on Avalanche, is launching on the Ethereum scaling platform Arbitrum.
Trader Joe’s decentralized exchange is debuting on Ethereum’s scaling chain Arbitrum. This is Trader Joe’s first deployment on a new chain since the company’s founding in 2021. According to DeFiLlama, Trader Joe has the largest overall trade volume among all Avalanche apps, however, this has decreased significantly since June.
In the next few days, Trader Joe will deploy on Arbitrum’s testnet, with a mainnet launch anticipated for early next year.
The introduction of Trader Joe’s Arbitrum will be restricted in scope. Avalanche is the sole platform that will support its native coin JOE, loan platform Banker Joe, and NFT marketplace Joepegs. It introduced a new technology known as the Liquidity Book Automated Market Maker (AMM) last week, which it says is more efficient than conventional decentralized exchange setups. Liquidity Book will be the only other feature accessible on Arbitrum besides trading.
Multiple Layer 2 networks, such as Arbitrum, are constructed on top of Ethereum. According to L2beat, Arbitrum is the biggest chain by market capitalization.
The integration of Trader Joe’s with Arbitrum follows the trend of other decentralized finance (DeFi) protocols deploying on different chains. Other DeFi protocols, such as Uniswap and Aave, have been implemented on many chains throughout the last year, with the logic that increasing the number of chains would increase the number of people reached.