Trader Joe, the multichain decentralized exchange, has recently launched a new feature called Auto-Pools, which is set to improve liquidity and user experience on the platform.
According to a Trader Joe announcement, the project will deploy the Liquidity Book ver2 feature on Avalanche, Arbitrum, and BNB Chain with the name Auto-Pools. This new feature will combine the efficiency of Liquidity Book and the simplicity of Joe ver 1.
In 2023, Trader Joe has continuously introduced new updates to improve the platform’s liquidity situation. The most notable of these updates is the deployment on multichain and the Liquidity Book feature. Since the launch of ver2 (a centralized liquidity model with Liquidity Book), Trader Joe has earned more than $30 million TVL on the Arbitrum ecosystem, according to DefiLlama.
But Trader Joe is not stopping there; it is continuing to improve the user experience by combining liquidity book with Joe ver 1.
“Auto-Pools introduce automatic position management for Liquidity Book. Users who do not want to manage their positions can use Auto-Pools instead. Auto-Pools will increasingly bring new, unique choices like off-chain signals and combinations of different assets,” Trader Joe said in an interview with Interlock.
In addition, the project revealed that users who deposit tokens into Auto-Pool will receive a representative token. This token will be used for other decentralized financial activities such as yield farming and collateral. This is one of the features of Joe ver 1 that people still commonly use. “Furthermore, the transaction fee of Auto-Pools will be shared with sJOE, JOE’s staking token,” Trader Joe added.
Since the beginning of 2023, the price of JOE, Trader Joe’s token, has increased by more than 400%, from $0.13 to $0.66. Currently, JOE is trading at around $0.6 according to Coingecko data.
Trader Joe’s Auto-Pools feature is set to revolutionize the way users manage their positions and improve liquidity on the platform. The combination of Liquidity Book and Joe ver 1 will undoubtedly make it easier for users to participate in decentralized financial activities. With JOE’s price steadily increasing, it is clear that the market is responding positively to these developments.
#TraderJoe #Binance #crypto2023 #Binance #azcoinnews
This article was republished from azcoinnews.com