- The dominance of JOJO DEX in Base’s ecosystem indicates a positive trend in user involvement.
According to data aggregator DefiLlama, Base is the blockchain with the most monthly and weekly growth in permanent trade volume among the top 10 chains in terms of total value locked (TVL).
The newly established permanent decentralized exchange (perp DEX), JOJO, is responsible for this weekly surge. Over the last seven days, its trade volume has increased by about 75%.
Furthermore, within the past day, JOJO has surpassed $95 million in trading volume, accounting for 61% of Base perpetual trading activity. Co-founder of JOJO Jotaro Kujo revealed that trading perpetual contracts is being done by “quite a lot of real users.”
According to Kujo, actual users can be found throughout the Base ecosystem in addition to JOJO’s platform, which is why the team decided to employ their infrastructure to create a perp DEX. He continues, “Base offers engaged users, a significant amount of TVL, and fast growth, even though Arbitrum and Blast have a larger derivatives volume.”
Furthermore, Kujo disclosed that the project does not currently have plans to go multichain, and JOJO is solely available on Base. JOJO will concentrate its growth on Base and establish a link inside the ecosystem, notwithstanding internal team disputes.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
