The move represents Trader Joe's first development on a new chain since the protocol's launch in 2021, as part of a plan to reach new markets and boost user activity. Trader Joe has the highest total trading volume of all the above apps Avalanche, but has decreased significantly since June 2022.
The Trader Joe team has announced they are working closely with Offchain Labs, the development company behind Arbitrum One, to launch the testnet in the coming days, before officially rolling out on the Arbitrum mainnet One in January 2023.
“Integrating with Arbitrum One is the next step in our global expansion efforts and we look forward to showcasing AMM innovations built on Avalanche, while collaborating with new partners to benefit the ecosystem DeFi joint of Arbitrum and Avalanche.”
While it was announced that it was time to take the protocol global, the Trader Joe team confirmed that their true home and top priority for all of their growth efforts will continue to exist on Avalanche.
However, this appearance on Arbitrum One will be limited in scope. Products such as JOE token, Banker Joe lending platform, staking and market NFT Joepegs will only be available on Avalanche.
Prior to announcing its expansion to Arbitrum One, Trader Joe launched a new technology, seen as a more progressive solution to overcoming the most worrisome challenges in the industry. DeFi.
Accordingly, Trader Joe will use the Liquidity Book (LB) with a variable swap fee adding a feature that provides traders with zero or low slippage trades. Interestingly, the Liquidity Book (LB) is the only feature other than trading that will be available on Arbitrum.