THORChain is an autonomous cross-chain network founded in 2018 that allows users to swap crypto assets. Since it facilitates swaps between such chains as Dogecoin, Litecoin, Bitcoin, Avalanche, Ethereum, Binance Chain, CosmosHub, and Bitcoin Cash, it could be perceived as a settlement layer. THORChain (ERC20) acts as a settlement layer for Ethereum.
THORChain (ERC20) is a leaderless vault manager that keeps track of incoming user deposits and sets up the necessary transaction stages, including exchanging cryptocurrencies or providing and withdrawing liquidity. Outbound transactions are also carried out using the platform. Essentially, THORChain enables the exchange of native layer-one assets between different chains.
Users of the THORNChain (ERC20) crypto exchange are able to transact without having to prove their identity as required by KYC and AML rules. This might render the product unlawful in nations with tight cryptocurrency rules. The platform has not, however, produced a list of prohibited nations.
THORNChain can be accessed through the web.
There is no typical THORChain (ERC20) spot market, as well as no leverage or margin trading. Instead, more than 5,000 tokens from eight chains are supported by the exchange. To enable asset swaps, it uses an AMM architecture with liquidity pools. Through this cross-chain liquidity, platform users can exchange a huge variety of crypto assets. A feature that connects several chains together is the Bifröst Protocol, a cross-chain bridge mechanism. If you want to see the current THORChain (ERC20) trade volume, take a look above.
In addition, Continuous Liquidity Pools (CLPs), which are modified versions of Bancor's smart tokens, are used by THORChain to provide asset trading. Through these open asset pools, traders can access liquidity without needing to find or contact additional buyers or sellers.
RUNE, a native token of the THORChain (ERC20) cryptocurrency exchange, acts as the base swap pair (or a settlement asset). Additionally, RUNE functions as a governance token that allows users to decide on the future development of the platform. The native token also supports THORChain (ERC20) protocol incentive programs. On this live chart, you can see the current THORChain crypto price.
The cost of gas for each chain affects how much the THORChain (ERC20) exchange fees will be. Besides, there are no deposit or withdrawal THORChain (ERC20) crypto fees.
By adding liquidity to the network, THORChain allows users to generate passive revenue. More than 35 liquidity pools are available on the platform for users to deposit crypto assets into and receive incentives.
On top of the THORChain cross-chain liquidity protocol, THORSwap provides a composable Partner API. The API offers two different product categories. One product is a user-friendly DEX aggregator interface, while the other is a composable and simple-to-integrate third-party API for users who want to access THORSwap services.
About the Company
THORChain (ERC20) cryptocurrency exchange was initiated in 2018 but it only began operating in 2021. There is no structure, official development team, or CEO for the THORChain (ERC20) since it was established and developed by a team that wishes to remain anonymous in order to preserve the decentralized character of the whole system.
The person who first came up with the initiative is likewise unknown. Every single thing that the development team does can be found on GitHub, which is also where any new updates or upgrades are submitted.
Since its debut in 2021, THORChain has seen an increase in its user base. Additionally, the cross-chain liquidity function successfully supports the rising THORChain volume.