Trader Joe’s decentralized exchange franchise, Merchant Moe, has announced a significant partnership with Mantle, a rapidly growing DAO-led web3 ecosystem.
This partnership revolves around the Ethereum Layer 2 Mantle Network and Mantle Liquid Staking Protocol, aiming to enhance users’ trading and liquidity provision experience.
Merchant Moe’s innovative Liquidity Book protocol is the first of its kind, representing a new breed of Automated Market Maker (AMM) that offers concentrated liquidity. According to the network, this will massively optimize capital efficiency and yield opportunities.
Unlike traditional AMMs, Merchant Moe’s system allows users to concentrate their liquidity within specific price ranges, enhancing the token trading experience and maximizing fee earnings for liquidity providers with reduced capital requirements.
The Merchant Moe protocol is governed by the MOE token, which provides voting power to the users, enabling them to influence the liquidity distribution on the platform. This is facilitated through gauge voting and a bribe system, using veMOE to empower the community’s participation in shaping the platform’s liquidity landscape. The protocol also reached a new milestone this week, surpassing a TVL of $25 million.
With the launch of Merchant Moe, several key offerings are unveiled, including a Version 1 AMM, a MOE airdrop for JOE stakers, and various staking and farming opportunities.
0xMurloc, the co-founder at Merchant Moe, expressed optimism about the partnership, stating, “Mantle Network is building a truly novel defi ecosystem. Merchant Moe will fit right in by bringing a top-tier DEX experience and becoming the liquidity hub for all these defi offerings.”
This news is republished from another source.
