The Avalanche blockchain’s biggest decentralized exchange named Trader Joe has recently filed an interim incentive proposal to Arbitrum. The respective proposal has a value of up to 1.83 million ARB tokens and shows the decentralized exchange’s enthusiasm for further development. Arbitrum is a decentralized autonomous organization (DAO) that operates on Ethereum.
Trader Joe Presents Exclusive ARB Grant Proposal to Arbitrum
On X, Trader Joe published a post to declare an important commitment to the ecosystem of Arbitrum. The respective post displays the established reputation of Trader Joe in the world of decentralized finance. The platform’s prestigious position in the DeFi sector has been developed on the pledge to long-term collaborative relationships.
Trader Joe has submitted its short-term incentive proposal to the Arbitrum DAO 💙— Trader Joe (@TraderJoe_xyz) September 25, 2023
Trader Joe is committed and aims to further support native, multi-chain, and builders that have yet to deploy or launch on #Arbitrum.
The proposed grant aims to foster deep and highly efficient… pic.twitter.com/njfQilB59V
It also pays a lot of attention to the approach that prioritizes the community. The post disclosed that this reputation witnesses a further boost via a roadmap for product development. The respective roadmap consistently pushes product innovation in the DeFi world, guaranteeing an effective and unparalleled DEX experience.
This facilitates builders, liquidity providers, and traders alike. According to the proposal, the chief driving force behind the grant is Trader Joe’s resilient objective. The company intends to promote innovation and growth within the network of Arbitrum. By increasing the spot liquidity, the grant could directly assist developers with an additionally efficient and stable exchange experience.
The Platform Increases Liquidity through Sustainable Dissemination of Rewards with Its Market Maker Incentive Project
Formerly, Joe Trader has improved the liquidity via sustainable distribution of rewards with its Market Maker incentive project. Additionally, Trader Joe’s anticipates leveraging the opportunities of the ecosystem of Arbitrum for more diverse and larger builders.
Moreover, the company also focuses on elevating the status of Arbitrum among the leading L2 companies in the DeFi world. In the meantime, Colin Wu (a blockchain news reporter in China) also commented on the proposal. The proposal highlighted Trader Joe’s keenness to increase awareness across the crypto community.
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