Decentralized finance (DeFi) protocol Trader Joe has announced its very first expansion from Avalanche and onto the Ethereum ecosystem, as part of its plans to access new markets and drive up user activity.
The decentralized trading platform announced its “multi-chain” expansion into Ethereum layer-2 scaling solution Arbitrum One on Dec. 1 and follows around a month after it stated its intention to expand to additional markets and ink new partnerships amid falling TVL and user activity in the third quarter.
We’re extremely excited to announce that @traderjoe_xyz has expanded into the Ethereum ecosystem with Arbitrum One as its destination! https://t.co/pjnoirxkVi
— Arbitrum (,) (@arbitrum) December 1, 2022
The team stated that they’re working closely with Offchain Labs — the team behind Arbitrum One — to launch a testnet “within the coming days,” before officially deploying it onto the Arbitrum One mainnet in January 2023:
“Deployment to Arbitrum One is the next step in this global expansion effort and we look forward to introducing the innovative AMM built on Avalanche, and also working with new partners to benefit the collective DeFi ecosystems of Arbitrum and Avalanche.”
The deployment comes as Trader Joe has also expanded its…
