MELD expands into the Avalanche ecosystem through a new liquidity pool collaboration with Trader Joe
We are pleased to announce that we have partnered with Trader Joe, the largest and most popular decentralized exchange on Avalanche, to create a new liquidity pool for the MELD-AVAX pair. This marks another milestone in MELD’s expansion into the Avalanche ecosystem and we are very excited to be working with Trader Joe’s team.
Trader Joe is a fast and low-cost DeFi platform that allows users to trade and lend over 100+ crypto assets, including its own governance token, JOE. Users can also access innovative DeFi products and services on Trader Joe, such as: B. Yield farming, NFT trading and cross-chain bridging. Trader Joe has a loyal and active community of over 100,000 users and 50,000 JOE token holders across multiple blockchains including Avalanche, Arbitrum, and Binance Smart Chain. Trader Joe has a TVL of over $100 million and has facilitated $85 billion in trading volume since its launch in mid-2021.
This collaboration with Trader Joe is the first step in making our MELD token more interoperable and an omnichain token. By having liquidity pools on different chains, we make trading and switching between chains easier, ensuring our users have more flexibility and control over their assets.
The liquidity pool for the MELD-AVAX pair will be launched on TraderJoe v2 This is a new version of Trader Joe’s decentralized exchange based on liquidity book, a novel AMM protocol that offers several improvements over the previous version. Some of these improvements include:
- zero slip for inter-tick swaps, which are discrete price spreads with constant sum invariant.
- Dynamic Fees to improve the profitability of the liquidity provider, consisting of a fixed and a variable component that adjusts to market volatility.
- Fungible Liquidity PositionsThis means that no matter what price range they provide liquidity, users can get the same LP tokens and also trade or transfer their LP tokens without affecting their exposure.
- Flexible liquidity distributionThis means users can provide liquidity in any form they wish across the entire price range, rather than being limited to even distribution.
These features make Trader Joe v2 more efficient, flexible and user friendly than Trader Joe v1 and also more competitive with other AMMs. MELD users should be aware of these differences and how they affect their liquidity delivery and trading experience on Trader Joe v2.
Another exciting feature of Trader Joe v2 is that it recently opened 25 basis point permissionless pools, allowing users to create liquidity pools with a small fee of 0.25%. This fee is lower than the standard 0.3% fee for Trader Joe v1 and most other AMMs and is suitable for high volume, low slippage pairs. The permissionless 25 bps pools are also fungible, meaning they use the same LP token as the standard pools and can be easily migrated or swapped out. The MELD-AVAX pair will be one of the first pairs to utilize the 25bps permissionless pool on Trader Joe v2, meaning users can enjoy a cheap and efficient trading and liquidity delivery service with the lowest possible fees.
See the documentation for more details on how Trader Joe v2 works.
Check out our pool below: https://traderjoexyz.com/avalanche/pool/v21/0x333000333b26ee30214b4af6419d9ab07a450400/AVAX/25
We’re excited to be working closely with Trader Joe and look forward to an exciting expansion of the Avalanche ecosystem.
Stay tuned for more exciting announcements…
MELD – Be your own bank
MELD is a non-custodial DeFi protocol for Web3 finance that gives users complete control over their assets without intermediaries. It offers cross-chain lending, borrowing, staking, and integrated fiat banking services on the MELD blockchain. MELD supports six leading blockchains, enabling seamless asset transfer. Bridging is integrated into the MELDapp. Overall, MELD is a comprehensive DeFi protocol that allows users to take control of their finances from a single platform. With its cross-chain capabilities and integrated fiat banking services, it is poised to become a leading player in the DeFi space.
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