Thread by @TraderJoe_xyz

Trader Joe is building a Liquidity Hub for an omnichain future, starting with #Avalanche, #Arbitrum and #BNB.

It all begins with omnichain fungible tokens (OFTs), a new standard developed by @LayerZero_Labs. OFTs solve 3 main issues associated with cross-chain token transfers...

🌊 Liquidity

Liquidity is the lifeblood of ecosystems. Thanks to OFTs, protocols to easily establish liquidity on new chains while being able to effortlessly handle even large transfers.

🧮 UI/UX

OFTs make it easy to move from one chain to another, even for inexperienced users. In the future OFTs could even allow for seamless omni-chain dapps...Intrigue.

🔐 Security

OFTs are not wrapped assets, meaning the risk of token depegging on one of the chains is eliminated.

One $JOE is one $JOE, on any and all chains.

Trader Joe was one of the first DeFi protocols to adopt the OFT standard for its token.

Users can effortlessly move their $JOE between three supported chains with minimum fees using the Stargate bridge.

Another token that uses the OFT standard is $BTC.b - Avalanche-bridged Bitcoin.

Thanks to LayerZero, BTC.b can travel to other EVM chains from Avalanche, such as #Arbitrum and #BNBChain, offering a decentralised alternative to WBTC.

One of Trader Joe's newest partners, @Level__Finance, is also utilizing an OFT standard for the $LVL token on #Arbitrum and #BNB.

Other DeFi protocols are already taking advantage of LayerZero's tech to kick-start and fuel their multi-chain expansion.

With the support for more than 14 L1s and L2s, OFTs are here to define the omni-chain future. And thanks to the industry-leading efficiency of the Liqudity Book AMM, users can easily trade $BTC.b, $JOE, $LVL, $STEAK, $RDNT and soon more OFTs.

Still not sure about OFTs or have yet to experience the feel of an omnichain adventure?

Fret no more, Trader Joe has teamed up with @layer3xyz to offer a thrilling multi-chain OFT adventure...Coming this week.