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Decentralized exchange Trader Joe, Arbitrum has rapidly expanded the total deposit amount and trading volume

Decentralized exchange Trader Joe, Arbitrum has rapidly expanded the total deposit amount and trading volume

Trader Joe’s Rise
Crypto asset (virtual currency) decentralized exchange (DEX) Trader Joe v2 has improved in key indicators after the introduction of the liquidity incentive program.
Trader Joe v2 saw a surge in trading and deposit volumes on Arbitrum since March 24, more than tripling its protocol-locked asset value (TVL). At the time of writing, it is valued at approximately ¥3.9 billion ($30 million).
Over the same period, Trader Joe v2’s arbitrum transaction volume also doubled to $40 million, according to statistics site DefiLlama.
The main driver is the increase in deposits of Arbitrum’s Proprietary Token (ARB), which was released on March 23. On the 28th, ARB’s deposit amounted to the equivalent of up to $1,800, making ARB the largest share of Trader Joe’s v2.
Trader Joe v2 is an AMM (automated market maker) that can adjust the price range of liquidity provision. Users can enjoy zero slippage and market makers can expect increased commission income.
Joe v2 launched the Arbitrum version in January 23, and received an allocation of 901,392 ARB (about 150 million yen) in the ARB airdrop.
The price of Trader Joe’s Own Token (JOE) has also increased in response to the growth of various indicators. According to CoinGecko, it is up 15.3% from the previous day and 178% over the past two weeks.

JOE’s price movements in the last 90 days/USD denominated Source: CoinGecko

connection: Willingness to buy Bitcoin is strong, to Arbitrum (ARB) airdrop, the largest L2 force
Liquidity incentive program
On the 22nd, Trader Joe v2 launched a “liquidity incentive program” that rewards participants for cooperating in market making on two trading pairs, ARB and Ethereum (ETH) and ARB and USDCoin (USDC).
A total reward of 300,000 JOE of Trader Joe’s proprietary tokens will be distributed to users who lock their cryptocurrencies into a given smart contract. The incentive program will continue until April 6th.

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