Key Points:

• Trader Joe’s and LayerZero’s collaboration is anticipated to lessen or eliminate the security issues associated with existing methods of communicating across blockchains.
• LayerZero integration is regarded as a significant milestone in the quest to “transition” out of the Avalanche blockchain framework.

Trader Joe’s JOE token will be able to be readily transferred from the original blockchain Avalanche to two additional chains, Arbitrum and BNB Chain, where the DEX exchange has just entered.

Trader Joe, the Avalanche system’s largest decentralized exchange (DEX), has announced a cooperation with cross-chain infrastructure solutions platform LayerZero to make its JOE token more adaptable, particularly in terms of capabilities interaction between many chains. Trader Joe’s and LayerZero’s collaboration is anticipated to lessen or eliminate the security issues associated with existing methods of communicating across blockchains.

LayerZero is designed to be an infrastructure platform that allows interoperable blockchains while maintaining decentralization and security. LayerZero will specifically communicate information between two smart contracts on Chain A and Chain B for token migration, which is considered to be a more secure approach than “wrapping,” which involves constructing an intermediate token to shift between two chains.

LayerZero‘s initial product is Stargate Finance, which recently announced the re-issuance of all STG tokens in order to prevent the negative implications of the FTX exchange hack in November 2022.

Trader Joe is a DEX that allows users to exchange tokens and even NFT on Avalanche. It now has over 110 million USD in total locked assets (TVL). The site also provides loan and borrowing services for the assets of its customers.

LayerZero integration is regarded as a significant milestone in the quest to “transition” out of the Avalanche blockchain framework. Previously, the platform began extending to Arbitrum in December 2022, followed by BNB in January 2023. The revelation of Trader Joe’s relationship with LayerZero has increased the value of its JOE token by 13%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

layer zero

multichain

trader joe

Trader Joe DEX

Author

Chubbi

Related Posts

• Deutsche Bank Layer 2 Built on ZKsync Technology
• BounceBit CeDeFi V2 Now Integrates Ondo Finance’s USDY As First RWA Asset
• Former US Treasury Secretary Criticizes Trump’s 5-Year Bitcoin Reserve Plan
• Michael Saylor Publishes Digital Assets Framework to Boost Crypto Market
• Bitcoin Spot ETF Inflows Hit $440M With 9-Day Streak
• President-elect Donald Trump’s Motivation Is in Doubt as Bitcoin Slips Below $95,000
• Binance Australia Sued Over $8.29M Compensation Claim
• OpenSea Foundation Registers Amid Token Issuance Speculation

News

Trader Joe Collaborates With LayerZero To Enable The Transfer Of Trader JOE To Multichain

Key Points:

• Trader Joe’s and LayerZero’s collaboration is anticipated to lessen or eliminate the security issues associated with existing methods of communicating across blockchains.
• LayerZero integration is regarded as a significant milestone in the quest to “transition” out of the Avalanche blockchain framework.

Trader Joe’s JOE token will be able to be readily transferred from the original blockchain Avalanche to two additional chains, Arbitrum and BNB Chain, where the DEX exchange has just entered.

Trader Joe, the Avalanche system’s largest decentralized exchange (DEX), has announced a cooperation with cross-chain infrastructure solutions platform LayerZero to make its JOE token more adaptable, particularly in terms of capabilities interaction between many chains. Trader Joe’s and LayerZero’s collaboration is anticipated to lessen or eliminate the security issues associated with existing methods of communicating across blockchains.

Trader Joe ???? LayerZero$JOE will be launched as an omnichain fungible token (OFT). This evolution of $JOE will unlock seamless connectivity for the $JOE token across all chains supported by the Trader Joe DEX.

Read more: https://t.co/ZVL1szBPLe pic.twitter.com/VzT1YWad6v

— Trader Joe (@TraderJoe_xyz) February 6, 2023

LayerZero is designed to be an infrastructure platform that allows interoperable blockchains while maintaining decentralization and security. LayerZero will specifically communicate information between two smart contracts on Chain A and Chain B for token migration, which is considered to be a more secure approach than “wrapping,” which involves constructing an intermediate token to shift between two chains.

LayerZero‘s initial product is Stargate Finance, which recently announced the re-issuance of all STG tokens in order to prevent the negative implications of the FTX exchange hack in November 2022.

Trader Joe is a DEX that allows users to exchange tokens and even NFT on Avalanche. It now has over 110 million USD in total locked assets (TVL). The site also provides loan and borrowing services for the assets of its customers.

LayerZero integration is regarded as a significant milestone in the quest to “transition” out of the Avalanche blockchain framework. Previously, the platform began extending to Arbitrum in December 2022, followed by BNB in January 2023. The revelation of Trader Joe’s relationship with LayerZero has increased the value of its JOE token by 13%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

Other Posts

Related Posts

[tptn_list limit="8" title_length="0" heading="0" show_date="0" daily="1"]