Trader Joe DEX And NFT Marketplace Will Expand To BNB Chain Before Q1
- By the end of March, the BNB Chain will be added to the Joepegs NFT marketplace and Trader Joe DEX both of which are based in Avalanche.
- Users of BNB Chain will be able to launch NFT collections on the Joepegs marketplace following the chain expansion.
- Liquidity Book will allow BNB Chain users to trade tokens on Trader Joe as well.
By the end of March, BNB Chain will be equipped with the DeFi trading platforms Trader Joe DEX and NFT marketplace.
According to a press release from the firm, users of the BNB Chain will be able to trade tokens through Liquidity Book and take part in the introduction of new NFT collections utilizing the Joepegs NFT marketplace.
By employing the Liquidity Book, liquidity providers can increase their fees while placing less cash at risk. By receiving higher prices and less slippage on their trades, traders also gain indirectly from efficiency improvements.
Alvin Kan, director of growth and ops at BNB Chain, said in a statement:
“We believe the efficiency and security of BNB Chain, combined with the user-friendly offerings of the Trader Joe DEX and Joepegs NFT Marketplace, will drive growth and success for the wider NFT and DeFi ecosystem.”
The change will greatly improve the services offered to the BNB Chain community.
The broader NFT and DeFi ecosystem will be driven by the effectiveness and security of the BNB Chain as well as the user-friendly services provided by Trader Joe DEX and Joepegs NFT marketplace.
DappRadar reports that Trader Joe has the greatest overall trading volume among all Avalanche applications. At the time of this writing, Joepegs had over 35,000 users and enabled secondary sales of over $9.7 million.
Last month, Trader Joe also took action to increase usage of the Ethereum scaling solution Arbitrum. In November, Joepegs announced a $5 million in a round co-led by Avalanche Foundation and now-defunct FTX Ventures.
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