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Avalanche-Based Trader Joe Expands on BNB Chain

  • Trader Joe and NFT Joepegs will boost BNB trading by March. Trader Joe utilises DeFi from Avalanche.

  • Trader Joe trades the most on Avalanche. The business stated that trading volume has substantially declined since June of last year.

Avalanche-Based Trad

By the end of March, the BNB chain will join the Trader 

Joe and its NFT Marketplace Joepegs trading platform, which is based in Avalanche.

By the end of March this year, Trader Joe and its affiliated NFT Joepegs will increase their trading on the BNB chain. Avalanche-based DeFi trading platform Trader Joe uses. This is in line with the recent trend of decentralised protocols being implemented across various chains.

On Avalanche, Trader Joe has the largest overall trade volume. The corporation issued a statement in which it claimed that the trading volume has been sharply declining since June of last year. According to the company, Joepeg has over 34,000 users and assisted in over 9.5 million USD worth of secondary sales transactions. Liquidity Book would be used by investors to trade coins, it was also mentioned. As a result, users of the BNB chain can now redeem their NFTs on Joepeg's NFT Marketplace.

We believe that the effectiveness and security of BNB Chain, together with the user-friendly services provided by the Trader Joe DEX and Joepegs NFT Marketplace, will foster growth and success for the larger NFT and DeFi ecosystem, said Alvin Kan, the director of growth and operations for BNB Chain.

Trader Joe's chain on Ethereum is growing

In December 2022, Trader Joe also increased their presence on Arbitrum. A scaling platform for Ethereum is called Arbitrum. Since the company's founding in 2021, Trader Joe has taken this first step toward growth. The business then stated that while developing Avalanche would be its major priority, it also wanted to reach a wider audience by utilising a variety of media.

Numerous decentralised financial protocols have been expanding across multiple platforms. Uniswap and Aave are two examples of companies that have steadily deployed on different chains.

Release of the Liquidity Book

The Liquidity Book, Trader Joe's version 2 of Automated Market Maker, was introduced just last year. In contrast to a standard AMM, which distributes user liquidity equally across price ranges from 0 to infinity, this AMM allows liquidity suppliers to earn trading commissions within a fixed price range, improving their efficiency.

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