The decentralized exchange Trader Joe has started operating on the Arbitrum network.
The platform thus went beyond the Avalanche network.
Trader Joe’s Operates at Arbitrum
Crypto protocols work pretty hard at expanding to multiple networks. Due to the decline in Layer 1 blockchain transactions, platforms are starting to operate on new networks to reach more users.
The platform’s marketing and communications leader stated that the protocol will continue to expand into more chains.
The official emphasized that the goal of DEX is to increase the use of the Automated Market Maker (AMM) model. This has become quite popular, especially with Uniswap V3. According to DeFiLlama’s data, Uniswap V3 is currently the platform with the highest cumulative trading volume among all DEXs.
Arbitrum and Optimism, Layer 2 networks built on Ethereum, have seen consistent growth in the number of transactions this year, according to data from The Block Data. However, Layer 1 blockchains also experienced a decrease in the number of transactions in the same time frame.