Avalanche ecosystem DEX Trader Joe announced that it would integrate LayerZero. The integration will allow Trade Joe’s native Token JOE token to be seamlessly connected across all chains supported by the Trader Joe DEX.
According to the announcement, The JOE token has now been transformed into an ‘omnichain fungible token’ (OFT) standard that will enable users to bridge JOE across Avalanche, Arbitrum, BNB and beyond using the interoperability protocol, LayerZero.
The announcement notes that, JOE becomes a truly native, multichain token by adopting the omnichain fungible token (OFT) standard, allowing it to be bridged – without the security risks of ‘wrapping’ – to different blockchains at a 1:1 ratio.
LayerZero uses on-chain Ultra Light Nodes to deliver lightweight messaging across chains, ensuring authentic and guaranteed message delivery while meeting the demands of an absolute security model and remaining highly efficient for the end user.
What does this mean?$JOE token holders can be sure to receive the most secure and seamless UX whilst traversing blockchains. Furthermore, you will be able to bridge $JOE directly from the UI on the DEX.
— Trader Joe🔺💙 | Live on Arbitrum 🌊📘 (@traderjoe_xyz) February 6, 2023
ETA: Today/Tomorrow
💠 pic.twitter.com/QDRyRN0LoG
Through Oracle and Relayer pairings, applications retain ownership of their own security configurations, which is unique to LayerZero’s architecture. Chainlink, an industry-standard, decentralised Oracle solution, will be used by Trader Joe’s.
LayerZero technology is best-in-class and JOE token holders can be sure to receive the most secure and seamless user experience whilst traversing blockchains with their JOE tokens. With the LayerZero integration, JOE and the Trader Joe DEX can transform into a true omnichain dApp. reads the announcement.
The LayerZero integration is expected to be finished today, after which JOE will be bridgeable to Arbitrum and BNB. Prepare your JOE tokens for intergalactic blockchain travel; a further announcement will be made once bridging is operational.
LayerZero is a leading interoperability protocol for dApps to build across multiple blockchains with a trustless and efficient approach. It uses on-chain Ultra Light Nodes for connectivity and security, and offers a simple interface for developers to turn dApps into omnichain applications.
Trader Joe is a DeFi platform offering token swapping, yield farming, token supply and borrowing, and NFT shopping with its Liquidity Book, an efficient AMM in DeFi.
