Avalanche-based DeFi trading platform Trader Joe and the associated Joepegs NFT marketplace will deploy on BNB Chain by the end of March.
This means BNB Chain users will be able to participate in the launch of new NFT collections using the Joepegs NFT Marketplace, as well as trade tokens using Liquidity Book, according to a company release.
Trader Joe has the highest total trading volume across all applications on Avalanche, but has seen significant decreases since June, according to DeFiLlama. Joepegs has 34,000 users and has facilitated more than $9.5 million in secondary sales, the release added.
"We believe the efficiency and security of BNB Chain, combined with the user-friendly offerings of the Trader Joe DEX and Joepegs NFT Marketplace, will drive growth and success for the wider NFT and DeFi ecosystem," Alvin Kan, director of growth and ops at BNB Chain, said in a statement.
Trader Joe also moved to expand on Ethereum scaling platform Arbitrum last month, the first time it had ventured from Avalanche since its launch in 2021.
Trader Joe's integration with Arbitrum an d BNB Chain follows a trend of other decentralized finance protocols deploying on multiple chains. Protocols such as Uniswap and Aave have deployed on several chains over the past year, with the rationale that more chains will result in reaching more users.
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