The Avalanche-based decentralized exchange, Trader Joe, ranks in the top 5 decentralized exchanges (DEX) by trading volume.
In an effort to increase deposits for Arbitrum’s trading of ARB, ETH, and USDC, Trader Joe developed a liquidity incentive program. This program shared rewards of 300,000 JOE, or about $171,000, and it ended yesterday.
More than 900,000 ARB tokens were also handed to Trader Joe, as part of the Arbitrum AirDrop. According to the leading DEX, it made up 15.7% of the entire ARB trading volume in the first week.
Trader Joe also launched a Liquidity Book (LB) model bringing in many of the community members into its platform. The on-chain trading experience is enhanced with Liquidity Book, making it easier for depositors to add tokens to Trader Joe’s liquidity pools.