THORChain is a decentralized autonomous cross-chain network for cryptocurrency swaps. It was founded in 2018. THORChain acts as a settlement layer for the facilitation of swaps between 8 chains – Ethereum, Binance Chain, CosmosHub, Dogecoin, Litecoin, Bitcoin, Avalanche, and Bitcoin Cash. THORChain (BEP20) acts as a settlement layer for the Binance Chain.
THORChain (BEP20) is a leaderless vault manager that monitors incoming user deposit vaults and prepares the required transaction steps such as swapping a cryptocurrency or adding and removing liquidity. The platform also performs outbound transactions. In essence, THORChain allows the swapping of native layer-one assets across multiple chains.
THORNChain (BEP20) cryptocurrency exchange enables its users to trade without verifying their identity as required by KYC and AML regulations. This may make the product illegal in some countries with strict crypto regulations. However, the platform has not provided a list of restricted countries. THORNChain is accessible via the web.
Markets
There is no THORChain (BEP20) spot in a traditional sense, as well as no leverage or margin trading. Instead, the exchange supports more than 5,000 tokens across eight chains. It employs an AMM architecture with liquidity pools to facilitate asset swaps. Any platform user can swap various cryptocurrencies including leading digital assets such as BTC, ETH, and BNB, through cross-chain liquidity. THORChain (BEP20) volume for supported assets is displayed on their platform. The Bifröst Protocol, a cross-chain bridge system, is a feature that links various chains together.
Additionally, THORChain leverages Continuous Liquidity Pools (CLPs), which are modified versions of Bancor's smart tokens, to help in asset trading. Traders can access liquidity through these open asset pools without having to look for, or get in touch with, additional buyers or sellers.
THORChain (BEP20) crypto exchange has a native token, RUNE, which serves as the base swap pair (or a settlement asset), providing network security to the platform. RUNE is also a governance token, enabling users to vote on the proposals for the platform. Besides, the native token supports incentive programs on THORChain (BEP20) protocol. THORChain crypto price is available on the live chart right here.
The exact amount of THORChain (BEP20) exchange fees depend on the gas cost for each chain. Besides, there are no THORChain (BEP20) crypto fees for deposits or withdrawals.
Other Services
THORChain enables users to earn passive income by providing liquidity to the network. The platform offers over 35 liquidity pools where users can deposit their funds to earn rewards.
THORSwap offers a composable user-friendly Partner API on top of the THORChain cross-chain liquidity protocol. The Third-Party API follows two product paths. One product is a user-friendly DEX aggregator interface and a gateway to all THORChain functionality. The other API product is composable and easy to integrate third-party API for all users who want to access THORSwap services. Examples of API functions include:
- API for third-party wallets that enable in-wallet cross-chain swaps;
- An “auto-balancer” that automatically moves liquidity to the highest-yielding THORChain liquidity pool;
- Coin Tracker API that enables cross-chain swaps.
Besides the extended offering benefits to customers, third parties that integrate THORSwap’s API also earn a share of all affiliate fees.
About the Company
THORChain (BEP20) cryptocurrency exchange was founded in 2018 and began operating in 2021 after three years of development. There is no information about the platform’s founder. The project has no centralized organization, hence, no director, CEO, or headquarters. It uses Gitlab to organize its development.
THORChain has been experiencing an increasing user base since its launch in 2021. Besides, the cross-chain liquidity feature effectively supports the increasing THORChain volume.
