Crypto Exchange Trader Joe Nears Launch of Upgraded Trading Engine
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Sage D. Young is a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.
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Decentralized crypto exchange (DEX) Trader Joe will upgrade its Liquidity Book, its trading engine automated market maker as soon as next week, the project’s pseudonymous marketing lead Blue said on a community Discord call that CoinDesk attended Friday.
Liquidity Book V2.1 will make it more efficient for depositors to add tokens to Trader Joe’s liquidity pools and also improve the on-chain trading experience, Blue said. Trader Joe has three implementations: on Arbitrum, BNB Chain and Avalanche, its biggest.
The upgrade will also introduce “auto-pools” that will automatically manage depositors’ active positions in high-yield liquidity pools to mitigate risk. A new rewards program also set to launch will focus on distributing tokens for those that participate in Trader Joe’s concentrated liquidity.
Trader Joe has $131.78 million in total value locked and had done more than $520 million in trading volume since March 26, according to crypto statistic website DefiLlama. The price of JOE was trading at 60 cents at press time.
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Sage D. Young is a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.
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Sage D. Young is a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.
