TechFlow reports that Trader Joe, a DEX in the Avalanche ecosystem, has announced on Twitter the launch of Monroe Protocol (MONROE), a new cross-chain stablecoin protocol now live on Avalanche. In collaboration with Benqi, a liquidity market protocol, it introduces a new strategic initiative for the Avalanche ecosystem through $sAVAX.
On the Trader Joe DEX, users can participate in various leveraged yield strategies or single-sided token strategies using $sAVAX and/or $monUSD.
As part of the liquidity book rewards program, the $monUSD - $sAVAX LP will receive incentives for 8 weeks, with at least 1.2 million $QI added to the LP.
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