BSC News

Trader Joe DEX Expands Joepegs NFT Marketplace to BNB Chain

Trader Joe is bringing the top-ranked DEX and NFT Marketplace on Avalanche to BNB Chain by the end of March. Can PancakeSwap retain its dominance?

Trader Joe Top DEX on Avalanche

Trader Joe is taking its talents to BNB Chain. Can the top-ranked Decentralized Exchange (DEX) and NFT Marketplace on Avalanche make a serious run at PancakeSwap?

The official BNB Chain Twitter account announced the expansion on Jan. 5.

According to an accompanying BNB Chain blog post, the expansion is set to occur by the end of March.

“The deployment of Joepegs NFT Marketplace and Trader Joe DEX on BNB Chain will be completed before the end of the first quarter of the year,” Trader Joe Co-Founder Crypto Fish said. “BNB Chain is one of the most popular blockchains in the world, currently home to over 1,400 dApps with an active daily user base of over 1 million and we're very excited to introduce the Trader Joe experience to this thriving ecosystem.”

According to DefiLlama, Trader Joe is the top DEX on Avalanche with a Total Value Locked (TVL) of $83 million, including its lending Dapp and upgraded version Joe V2.

DappRadar puts Trader Joe in the one-number spot for Decentralized Applications (dApps) on Avalanche overall, with 62,000 Unique Active Wallets (UAW) in the past month. Joepegs comes in fifth with 14,000 UAW.

In context, PancakeSwap has $3 billion in TVL, accounting for 44% of BNB Chain’s TVL, and 1.4 million UAW in the past month.

Meanwhile, the Uniswap Foundation is hosting a Twitter Spaces AMA on Jan. 5 to discuss a proposal to bring the super-heavyweight DEX to BNB Chain.

Trader Joe and Uniswap aren’t the only contenders vying to knock the BNB Chain chef’s hat off PancakeSwap’s head. Baby Doge Swap is counting on the huge following of Baby Doge Coin fanatics to build on its growing TVL of $34 million, while Wombat Exchange is seeking to increase its TVL of $100 million by branching out to an array of other blockchains.

Can PancakeSwap remain master of the BNB Chain kitchen? Will 2023 be the year PancakeSwap hegemony ends? Let the Battle of the DEXes begin!

What is BNB Chain:

Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.

Find more about BNB Chain here:

Website | Twitter | Discord | Telegram | GitHub |

Related News