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CDS Collaboration First Step of Trader Joe into ETH

Collaboration

First Step of Trader Joe into ETH

Burak DANACI09/12/20221 Mins read489

vTrader Joe's Takes Its First Step into the Ethereum Ecosystem

Trader Joe‘s, the DeFi protocol, has announced its first expansion from Avalanche to the Ethereum ecosystem in line with its goals of accessing new markets and increasing user activity.

Table of Contents

Multi-Chain Expansion to Arbitrum One from Trader Joe

DeFi protocol Trader Joe recently announced its intention to expand into additional markets and sign new partnerships amid falling TVL and user activity. Upon the announcement, it made a development towards its goals of accessing new markets and increasing user efficiency without slowing down.

The DeFi Protocol’s announced its first step into the Ethereum ecosystem via social media with the multi-chain expansion to Arbitrum One, a Layer 2 sharding solution.

Time for Globaization

Although the shared tweet stated that the ‘time for globalization’ has come, it was underlined that Trader Joe’s ‘true home’ and its priority for all growth efforts will continue to be in Avalanche.

Working closely with those behind Arbitrum One and Offchain Labs, the team announced that they will be launching a testnet in the coming days before officially launching the Arbitrum One mainnet in January 2023.

The statement made by Trader Joe’s was as follows: “Deployment to Arbitrum One is the next step in this global expansion effort and, we look forward to introducing the innovative AMM built on Avalanche and also working with new partners to benefit the collective DeFi ecosystems of Arbitrum and Avalanche,”

V1 AMM

Additionally, Trader Joe stated that Joe V1 AMM, the original AMM of the protocol, will migrate to Arbitrum One in addition to Liquidity Book AMM, which will provide zero slippage and confidential liquidity supply to all Arbinauts.

According to the statements made, one of the reasons Trader Joe’s launched its AMMS on Arbitrum One was that it was influenced by Offchain Labs’ efforts to create a DeFi Protocols System on its network.

The Arbitrum One team said in a statement“ “Deploying (the) Liquidity Book will be a great addition to the vibrant ecosystem,”

Trader Joe’s lending platform Banker Joe and token JOE, NFT market Joapegs and staking platform Liquidty Book AMM and Joe V1 AMM in Arbitrum will not be included in the first stage.

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Burak DANACI

The author focused on financial markets after graduating from Anadolu University, Department of Economics. After meeting with blockchain technology in 2019, he produces content on youtube and twitter in this field.