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Trader Joe Debuts on Ethereum; JOE Jumps 3%
The DEX's Liquidity Pool was already available on Arbitrum, BNB Chain and Avalanche.
Decentralized crypto exchange Trader Joe has introduced its stablecoin pools on the Ethereum blockchain, the exchange said on Friday.
The DEX's Liquidity Pool, an automated market maker (AMM), is now on Ethereum. Trader Joe's AMM was present on Arbitrum, BNB Chain and Avalanche. AMM is the underlying protocol that powers all DEXs.
STORY CONTINUES BELOW
Trader Joe is now live on Ethereum
— Trader Joe - Live on Mainnet (@traderjoe_xyz) August 4, 2023
Introducing Liquidity Book, the innovative and highly efficient concentrated liquidity AMM, to Ethereum ecosystem. pic.twitter.com/sW12IV0db3
At launch, the exchange will offer only stablecoin pools to prove the efficiency of its liquidity pool.
Trader Joe upgraded its Liquidity Book earlier this year. Liquidity Book V2.1 introduced “auto-pools” that automatically manage depositors’ active positions in high-yield liquidity pools to mitigate risk.
Tokens of Trader Joe (JOE) jumped nearly 3% to 31 cents after the announcement.
Read more: Crypto Exchange Trader Joe Nears Launch of Upgraded Trading Engine
UPDATE (Aug. 4, 11:30 UTC): Adds additional details, links.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
