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Finance

Trader Joe Debuts on Ethereum; JOE Jumps 3%

The DEX's Liquidity Pool was already available on Arbitrum, BNB Chain and Avalanche.

By Parikshit Mishra
AccessTimeIconAug 4, 2023 at 11:21 a.m. UTC
Updated Aug 4, 2023 at 12:15 p.m. UTC
(Trader Joe)

(Trader Joe)

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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 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.

Edited by Parikshit Mishra.


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Parikshit Mishra
Parikshit Mishra

Parikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. He does not have any crypto holdings.

Follow @parikshitm899 on Twitter

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