{"id":526055,"date":"2023-04-07T22:00:54","date_gmt":"2023-04-07T22:00:54","guid":{"rendered":"https:\/\/wncen.com\/?p=526055"},"modified":"2023-04-07T21:06:14","modified_gmt":"2023-04-07T21:06:14","slug":"uniswap-who-trader-joes-amm-takes-defi-by-storm","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/defi\/uniswap-who-trader-joes-amm-takes-defi-by-storm\/","title":{"rendered":"Uniswap Who? Trader Joe&#8217;s AMM Takes DeFi By Storm"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In the fast-evolving world of decentralized finance (DeFi), new players are constantly emerging with innovative solutions to address the challenges of trading and liquidity provision. One platform that has been making waves in the DeFi ecosystem is Trader Joe, which has gained steam with its capital-efficient decentralized exchange (DEX).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a recent Twitter <a href=\"https:\/\/twitter.com\/chasedevens\/status\/34904833?s=20\" target=\"_blank\" rel=\"noopener nofollow\">post<\/a> by Chase, a researcher at Messari, the heart of Trader Joe\u2019s success is its Liquidity Book (LB), a concentrated liquidity model that is being hailed as a game-changer for liquidity providers in the DeFi space.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/defi\/dydx-tumbles-5-as-ethereum-based-dex-downsize-operations\/\" target=\"_blank\" rel=\"noopener \">DYDX Tumbles 5% As Ethereum-Based DEX Wind Down Operations<\/a><\/div>\n<h2>What Makes Trader Joe Different From Other DeFi Protocols?<\/h2>\n<p><span style=\"font-weight: 400\">Competing with established players like Uniswap V3, Trader Joe\u2019s LB is quickly gaining traction, being the fastest-growing DEX over the last 180 days. The platform\u2019s surging growth is a testament to its appeal to traders and liquidity providers.<\/span><\/p>\n<figure id=\"attachment_526056\" aria-describedby=\"caption-attachment-526056\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-526056\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/FtC4r9eagAElXps.jpg?resize=860%2C484\" alt=\"DeFi\" width=\"860\" height=\"484\"><figcaption id=\"caption-attachment-526056\" class=\"wp-caption-text\">Trader Joe&#8217;s growth over the last 180 days. Source: <a href=\"https:\/\/twitter.com\/chasedevens\/status\/34904833?s=20\" target=\"_blank\" rel=\"noopener nofollow\">Chase on Twitter.<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Trader Joe and Uniswap are decentralized exchanges allowing users to trade cryptocurrencies without relying on centralized intermediaries. However, there are several key differences between the two platforms:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400\">Liquidity Model: Trader Joe&#8217;s uses a concentrated liquidity model called the Liquidity Book, as said before, while Uniswap uses a constant product market maker model. The LB can be more capital-efficient and cost-effective for liquidity providers, while the construct product model is simpler and more widely used in the DeFi ecosystem.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Furthermore, its LB is a liquidity provision model developed by Trader Joe&#8217;s. It allows liquidity providers to concentrate their funds in a specific price range rather than spreading them out across the entire price spectrum.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, the LB can be more cost-effective for smaller liquidity providers, who may not have the capital to provide liquidity across the entire price spectrum on other Automatized Market Makers (AMMs)<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400\">Fees: Trader Joe&#8217;s charges lower fees than Uniswap. This can make it more attractive to traders and liquidity providers looking to minimize costs.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400\">Development: Trader Joe&#8217;s is community-driven, allowing users to propose and vote on changes on the platform. On the other hand, Uniswap is governed by a protocol controlled by a small group of stakeholders.\u00a0<\/span><\/li>\n<\/ul>\n<h3><b>Keys Behind Trader Joe\u2019s Current Success In DeFi\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400\">According to Chase, one key factor behind this success is Joe V2\u2019s higher base fees. This means liquidity providers earn more fees on every trade in the pool. Joe V2 adds a volatility fee, further increasing liquidity providers&#8217; profitability.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to data compiled by Chase, 36.5% of Joe V2\u2019s WETH-USDC liquidity on Arbitrum falls within the +\/- 2% price range, significantly higher than the 19.9% for Uniswap V3 and the 4% for SushiSwap. This concentration of liquidity is likely driven by the lower liquidity provider management costs on Joe V2 compared to Uniswap V3.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite the success of Trader Joe\u2019s V2 pools regarding liquidity provider profitability and liquidity concentration, the platform still faces significant competition from established players like UniSwap.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Per the researcher, over the last 2 weeks, UniSwap V3 has averaged $10 million in daily ARB-ETH volumes from 1inch, while Joe V2 has only averaged $9,800. Chase claims that to compete with UniSwap and attract more trading volumes, Joe V2 must either cut its fees or grow its liquidity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As of this writing, the circulating market capitalization of Uniswap is worth over $4.5 billion, down 2% in the last few days. In contrast, Trader Joe&#8217;s market cap is currently at $195 million, with a trading volume of $29 billion. This is significantly lower than Uniswap&#8217;s trading volume, which is $831 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite the differences between Trader Joe and Uniswap, the fast growth of Trader Joe, and the continued dominance of Uniswap in the decentralized exchanges (DEX), the DeFi ecosystem seems poise to grow. Competition and further innovations in the ecosystem can attract more users and investors to the nascent industry and its technologies.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/ada\/cardano-ada-takes-a-step-closer-to-full-decentralization-heres-how\/\" target=\"_blank\" rel=\"noopener \">Cardano (ADA) Takes A Step Closer To Full Decentralization, Here\u2019s How<\/a><\/div>\n<figure id=\"attachment_526057\" aria-describedby=\"caption-attachment-526057\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-526057 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/JOE_TVL_2023-04-07_16-12-18_c4e20.png?resize=860%2C407\" alt=\"DeFi\" width=\"860\" height=\"407\"><figcaption id=\"caption-attachment-526057\" class=\"wp-caption-text\">Trader Joe&#8217;s total value locked. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7EqogTce\/?symbol=DEFILLAMA%3AJOE_TVL\" target=\"_blank\" rel=\"noopener nofollow\">JOE on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from Unsplash, chart from TradingView.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the fast-evolving world of decentralized finance (DeFi), new players are constantly emerging with innovative solutions to address the challenges of trading and liquidity provision. One platform that has been making waves in the DeFi ecosystem is Trader Joe, which has gained steam with its capital-efficient decentralized exchange (DEX).\u00a0 According to a recent Twitter post by Chase, a researcher at Messari, the heart of Trader Joe\u2019s success is its Liquidity Book (LB), a concentrated liquidity model that is being hailed as a game-changer for liquidity providers in the DeFi space.\u00a0 Related Reading: DYDX Tumbles 5% As Ethereum-Based DEX Wind Down Operations What Makes Trader Joe Different From Other DeFi Protocols? Competing with established players like Uniswap V3, Trader Joe\u2019s LB is quickly gaining traction, being the fastest-growing DEX over the last 180 days. The platform\u2019s surging growth is a testament to its appeal to traders and liquidity providers. Trader Joe and Uniswap are decentralized exchanges allowing users to trade cryptocurrencies without relying on centralized intermediaries. However, there are several key differences between the two platforms: Liquidity Model: Trader Joe&#8217;s uses a concentrated liquidity model called the Liquidity Book, as said before, while Uniswap uses a constant product market maker model. The LB can be more capital-efficient and cost-effective for liquidity providers, while the construct product model is simpler and more widely used in the DeFi ecosystem.\u00a0 Furthermore, its LB is a liquidity provision model developed by Trader Joe&#8217;s. It allows liquidity providers to concentrate their funds in a specific price range rather than spreading them out across the entire price spectrum.\u00a0 Additionally, the LB can be more cost-effective for smaller liquidity providers, who may not have the capital to provide liquidity across the entire price spectrum on other Automatized Market Makers (AMMs) Fees: Trader Joe&#8217;s charges lower fees than Uniswap. This can make it more attractive to traders and liquidity providers looking to minimize costs.\u00a0 Development: Trader Joe&#8217;s is community-driven, allowing users to propose and vote on changes on the platform. On the other hand, Uniswap is governed by a protocol controlled by a small group of stakeholders.\u00a0 Keys Behind Trader Joe\u2019s Current Success In DeFi\u00a0 According to Chase, one key factor behind this success is Joe V2\u2019s higher base fees. This means liquidity providers earn more fees on every trade in the pool. Joe V2 adds a volatility fee, further increasing liquidity providers&#8217; profitability.\u00a0 According to data compiled by Chase, 36.5% of Joe V2\u2019s WETH-USDC liquidity on Arbitrum falls within the +\/- 2% price range, significantly higher than the 19.9% for Uniswap V3 and the 4% for SushiSwap. This concentration of liquidity is likely driven by the lower liquidity provider management costs on Joe V2 compared to Uniswap V3.\u00a0 Despite the success of Trader Joe\u2019s V2 pools regarding liquidity provider profitability and liquidity concentration, the platform still faces significant competition from established players like UniSwap.\u00a0 Per the researcher, over the last 2 weeks, UniSwap V3 has averaged $10 million in daily ARB-ETH volumes from 1inch, while Joe V2 has only averaged $9,800. Chase claims that to compete with UniSwap and attract more trading volumes, Joe V2 must either cut its fees or grow its liquidity.\u00a0 As of this writing, the circulating market capitalization of Uniswap is worth over $4.5 billion, down 2% in the last few days. In contrast, Trader Joe&#8217;s market cap is currently at $195 million, with a trading volume of $29 billion. This is significantly lower than Uniswap&#8217;s trading volume, which is $831 billion. Despite the differences between Trader Joe and Uniswap, the fast growth of Trader Joe, and the continued dominance of Uniswap in the decentralized exchanges (DEX), the DeFi ecosystem seems poise to grow. Competition and further innovations in the ecosystem can attract more users and investors to the nascent industry and its technologies. Related Reading: Cardano (ADA) Takes A Step Closer To Full Decentralization, Here\u2019s How Featured image from Unsplash, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":526058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83405],"tags":[6664,1558,86776,54512,86983,80532],"class_list":["post-526055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-crypto","tag-cryptocurrency","tag-decentralize-exchange","tag-defi","tag-defi-protocol","tag-uniswap"],"acf":[],"yoast_head":"\n<title>Uniswap Who? Trader Joe&#039;s AMM Takes DeFi By Storm<\/title>\n<meta name=\"description\" content=\"One platform that has been making waves in the DeFi ecosystem is Trader Joe, which has been gaining steam in the last months.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/defi\/uniswap-who-trader-joes-amm-takes-defi-by-storm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uniswap Who? 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Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. 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