Trader Joe joins top 5 DEX list as Liquidity Book model thrives on Arbitrum
JOE token surges as Trader Joe’s Liquidity Book model climbs into the top 5 DEX list. Trader Joe has risen to the top five decentralized exchanges by trading volume after the launch of its V2 platform on Arbitrum on Feb. 1, 2023. Top five DEX by 7-day trading volume. Source: DeFiLlama The project launched a liquidity incentive program to boost deposits for ARB, ETH and USDC trading which shared 300,000 JOE token rewards worth around $171,000. The incentive program ends on April 6. The project’s social media account reported that Trader Joe accounted for 15.7% of the total ARB trading volume in the first week. We do a little trading at Trader Joe's. Liquidity Book powered 15.7% of all $ARB trading on-chain in the first 7 days pic.twitter.com/qlcYwvXFrp — Trader Joe | (@traderjoe_xyz) April 2, 2023 While JOE token incentives played a hand in increasing the liquidity for ARB token, innovation from the team in developing the capital efficiency of the DEX is the primary reas...