NFT Marketplace Joepegs and Avalanche-based DeFi Trader Joe trading platform will expand to the BNB chain at the end of March.
LET THE ADVENTURE BEGIN… pic.twitter.com/Nmck74HN89
— Trader Joe – Live on Mainnet (@traderjoe_xyz) January 5, 2023
Following the chain expansion, BNB chain users will be able to launch NFT cashouts on the Joepegs marketplace.
JoePegs and the BNB Chain
BNB Chain users will also be able to trade tokens on Trader Joe using Liquidity Book, the decentralized exchange’s new automated market maker (AMM), launched in August.
“We believe the efficiency and security of BNB Chain, combined with the easy-to-use offerings of Trader Joe DEX and Joepegs NFT Marketplace, will foster the growth and success of the NFT and DeFi ecosystem overall,” Alvin Kan, BNB Chain’s chief growth and operations officer, said in a statement.
Liquidity providers using the Liquidity Ledger can earn more commissions by putting less capital at risk. Merchants also benefit indirectly from efficiency improvements, as they get better pricing and fewer slippages on their transactions.
We are going multi-chain! ⛓️
Joepegs is excited to be embarking on a new journey to @BNBCHAIN 🔶
No matter which chain you call home 🔺 or 🔶 , Joepegs is a place where people with a shared passion for NFTs come together.https://t.co/yJNuTxBjg6
— Joepegs (@joepegsnft) January 5, 2023
Since launching in July 2021, the exchange has more than $75 million in trading volume on Avalanche as of Jan. 2.
Trader Joe’s also claims to have facilitated over $88 billion in trading volume for thousands of active users each day.
Trader Joe’s is working on its expansion from Avalanche to acquire more users. Last month, the platform implemented the Ethereum-based scaling solution Arbitrum, its first expansion from Avalanche.
The company said it will continue to prioritize innovation and growth on Avalanche, while launching on other chains as part of its global expansion effort.
Trader Joe’s and Joepegs join Uniswap, Aave and OpenSea in its expansion into the BNB chain. According to Cryptoslam, BNB ranks as the eighth best blockchain by NFT sales volume, four spots ahead of Avalance.
In November, Joepegs announced $5 million in funding in a round led by Avalanche Foundation and the now-defunct FTX Ventures.
The founders of JoePegs, known by the pseudonyms Cryptofish and 0xMurloc, stated, “The FTX Ventures funding was completed in June, and they have since exited FTX prior to recent bankruptcy events.”
The founders have also developed an in-house production unit, Joe Studios, and an NFT pitch deck, which already has 50 projects.
About Trader Joe
Trader Joe is a decentralized one-stop trading platform and the creator of Liquidity Book, the most efficient AMM in DeFi. Trader Joe’s offers a complete DeFi platform where you can trade, lend and leverage, participate in a Launchpad and buy NFTs. Visit Trader Joe’s and discover DeFi today.
About BNB Chain
BNB Chain is a community-driven, decentralized, censorship-resistant blockchain powered by BNB.
It is composed of BNB Beacon Chain and BNB Smart Chain (BSC), which supports EVM and facilitates a multi-chain ecosystem. It is the world’s largest smart contract blockchain in terms of transaction volume and daily active users.
It has processed 3 billion transactions to date from 200 million unique addresses, offering developers massive user access with ultra-low gas rates and zero downtime since its inception.
The ecosystem has over 1,300 active dApps across multiple categories such as DeFi, Metaverse, blockchain gaming, NFT and more.
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