Trader Joe Integrates LayerZero: JOE evolves into an Omnichain Token

Trader Joe announces integration with LayerZero, launching JOE as an omnichain token and unlocking seamless connectivity for the JOE token across all chains supported by the Trader Joe DEX.

JOE is now an ‘OFT’

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, all thanks to the next-generation interoperability protocol, LayerZero.

By adopting the omnichain fungible token (OFT) standard, JOE becomes a truly native, multichain token that can be bridged – without the security risks of ‘wrapping’ – to different blockchains with a 1:1 ratio. LayerZero leverages on-chain Ultra Light Nodes to deliver light-weight messaging across chains, providing authentic and guaranteed message delivery that meets the demands of an absolute security model, whilst also remaining highly efficient for the end user. Unique to LayerZero’s architecture, applications maintain ownership over their own security configurations via Oracle and Relayer pairings. Trader Joe will utilize industry-standard, decentralized oracle solution, Chainlink.

What does this all mean exactly?

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.

The LayerZero integration is expected to be completed today and on completion, JOE will be bridgeable to Arbitrum and also BNB. So, prepare your JOE tokens for intergalactic blockchain travel, a further announcement will shortly be shared once bridging is live.

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About LayerZero

LayerZero is the leading omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner. LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle-chain. Using the protocol, developers can turn their dApps into omnichain-applications using a single, simple interface. Learn more about LayerZero and explore documentation by visiting

Website

About Trader Joe

Trader Joe is a one-stop-shop decentralized trading platform and the creator of Liquidity Book, the most efficient AMM in DeFi. Trader Joe offers a comprehensive DeFi platform where you can Swap Tokens, Yield Farm, Supply and Borrow and shop for NFTs. Visit Trader Joe and discover DeFi today.

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