Trader Joe Debuts on Ethereum, JOE Jumps 3%
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.
At launch, the exchange will only offer stablecoin pools to prove the efficiency of its Liquidity Pool.
Trader Joe had 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.
UPDATE (Aug. 4, 11:30 UTC): Adds additional details, links.
Edited by Parikshit Mishra.
