Trader Joe, the largest decentralized exchange (DEX) on proof-of-stake blockchain Avalanche, has unveiled its latest offering on the Ethereum blockchain. On Friday, the exchange announced the introduction of its stablecoin pools, powered by the innovative and highly efficient concentrated liquidity automated market maker (AMM) called Liquidity Book.
Trader Joe’s AMM had already been successfully operating on other blockchain networks, including Arbitrum, BNB Chain, and Avalanche. However, by launching on Ethereum, Trader Joe aims to leverage the prominence of the Ethereum ecosystem as the birthplace of DeFi. This strategic decision aligns with the exchange’s mission to make DeFi accessible to all users.
With the rapid growth and adoption of DeFi, there has been an increasing demand for innovative, efficient, and user-friendly DEXs. Trader Joe’s Liquidity Book addresses this demand by offering liquidity providers a capital-efficient AMM with true flexibility, volatility-adjusted fees, and zero-slippage swaps on the Ethereum network.
One of the key advantages of Liquidity Book is its ability to provide users with a next-level DeFi innovation experience. This novel protocol is designed to bring a low-cost and highly efficient stableswap experience to the Ethereum ecosystem. The initial markets launched by Trader Joe on deployment include:
USDC/USDT with a base fee of 0.5 basis points (0.005%)
DAI/USDC with a base fee of 0.5 basis points (0.005%)
These markets are expected to offer traders enhanced stability and a smooth trading experience.
Auto-Pools, another exciting feature offered by Liquidity Book, will empower users with automated liquidity provisioning at their fingertips. The simplified, one-click process will enable efficient liquidity management for stable markets and will be rolled out on Ethereum in the near future.
Trader Joe also introduces fully on-chain limit orders, making it one of the first DEXs to implement this feature. Traders can now automate swaps with no trading fees or price impact, bringing ease, efficiency, and control to their trading activities. The deployment of Limit Orders on Ethereum is anticipated to happen in the coming days.
To support the ecosystem’s expansion, Trader Joe’s JOE token has embraced LayerZero’s omnichain fungible token (OFT) standard. This allows for seamless bridging across different blockchains like Avalanche, Arbitrum, and BNB. JOE’s expansion to Ethereum will soon follow, with the launch of popular sJOE staking on the horizon.
The Trader Joe Team is dedicated to pushing the boundaries of DeFi accessibility and innovation. They aim to provide users with a top-tier DEX experience through the Liquidity Book protocol. With the expansion to Ethereum, Trader Joe is poised to become a leading player in the DeFi landscape, catering to both experienced and novice users alike.
Source: https://azcoinnews.com/dex-trader-joe-expands-to-ethereum-with-stablecoin-pools.html
