Trader Joe adds Arbitrum support on Avalanche

The Avalanche-based DEX Trader Joe has added support for Ethereum’s Layer-2 network Arbitrum.

Avalanche DEX Trader Joe is deploying on Arbitrumhttps://t.co/tJ26gmNEDz

— The Block (@TheBlock__) December 1, 2022

Initially, functionality on the new network will be limited: users will not have access to the platform’s native token JOE, the Banker Joe lending service, or the NFT marketplace.

According to DeFi Llama data, the total value locked (TVL) in the protocol stands at $75.53 million.

The Avalanche network’s total value locked exceeds $848 million. Trader Joe is third in TVL. Aave leads with $337.8 million.

Earlier, Trader Joe developers introduced a solution for one of DeFi’s main problems — impermanent loss.

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