Trader Joe Expands to BNB Chain with DEX and NFT Marketplace

The DeFi trading platform on Avalanche, Trader Joe, along with its NFT marketplace, Joepegs, will be launching on BNB Chain by the end of March.

Trader Joe Takes DEX and NFT Marketplace to BNB Chain

Starting now, BNB Chain users will be able to trade new NFT collections on the Joepegs marketplace and buy and sell tokens using the Liquidity Book, as announced.

Despite leading in trading volume across all Avalanche-based applications, Trader Joe has seen a notable decline since June, according to DeFiLlama. Joepegs currently has 34,000 users and has generated over $9.5 million in secondary sales.

Alvin Kan, Director of Operations and Development at BNB Chain, stated:

“We believe that the efficiency and security of BNB Chain, combined with Trader Joe’s and Joepegs’ user-friendly services, will drive growth and success for the broader NFT and DeFi ecosystem.”

Overall, 2022 was a relatively quiet and subdued year for Trader Joe, with the exception of launching the Joepegs NFT platform and integrating multichain capabilities. Before moving to BNB Chain, the platform also ventured into Arbitrum last month, marking its first foray outside of Avalanche since its launch in 2021.

The integrations of Trader Joe with Arbitrum and BNB Chain align with the broader trend of multichain deployments. Protocols like Uniswap and Aave have also been expanding across various chains over the past year, aiming to reach a broader user base.