Decentralized crypto exchange Trader Joe has launched its stablecoin pools on the Ethereum blockchain, the exchange announced on Friday.
The DEX's Liquidity Pool, an automated market maker (AMM), is now available on Ethereum. Trader Joe's AMM was present on Arbitrum, BNB Chain and Avalanche. AMM is the underlying protocol that underpins all DEXs.
Trader Joe's is now live on Ethereum
Introducing Liquidity Book, the innovative and highly efficient concentrated liquidity AMM, to the Ethereum ecosystem. pic.twitter.com/sW12IV0db3
— Trader Joe – Live on Mainnet (@traderjoe_xyz) August 4, 2023
At launch, the exchange will only offer stablecoin pools to demonstrate the efficiency of its liquidity pool.
Trader Joe's updated 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) rose nearly 3% to 31 cents following the announcement.
Read more: Crypto exchange trader Joe is about to launch an updated trading engine
UPDATE (August 4, 11:30 UTC): Adds additional details and links.
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