THORChain is a Decentralized Liquidity Network. It facilitates cross-chain liquidity pools with no pegged or wrapped tokens.
THORSwap is the world’s first Multichain DEX that utilizes the THORChain network to provide a front-end user interface to perform cross-chain swaps. This is done in a permissionless, trustless, and non-custodial manner. There are no pegged or wrapped assets, it is purely native.
For more information check out: https://thorswap.medium.com/thorswap-has-launched-is-this-the-death-of-cexs-cb6cf015b8f
THORChain offers the following breakthroughs:
No. Users are expected to withdraw, swap to natives, enter MCCN LP manually. BEPSWAP will coexist for a while until all funds are withdrawn.
Yes, BUT currently LP’s are capped! You will have to wait for official announcements when caps are raised. Once they are raised you can then provide liquidity.
Announcements will be made on twitter.
Disclosure: If you provide liquidity when caps are FULL, then you will be refunded, however, you will be returned with less than you originally had in order to pay for the gas to refund you.
https://thorswap.medium.com/how-to-use-thorswap-e13a2a4eafdd ^ Here is an article on how to:
Keystore Wallet and xDEFI are fully compatible. TrustWallet and Ledger will be integrated soon!
No. Users are expected to withdraw, swap to natives, enter THORSwap LP manually. BEPSWAP will co-exist for a while until all funds are withdrawn.
Technically yes, but by becoming a liquidity provider (LP) which earns APY.
Liquidity providers earn rewards in exchange for supplying their assets to the network. Their assets are added to pools which swappers use to exchange assets. The main benefit for Liquidity Provider is that they’re able to earn yields on stagnant assets like Bitcoin, Ethereum, Binance coin etc.
You will be providing liquidity at a 50:50 ratio. i.e 50% RUNE and 50% Asset.
Liquidity Providers are rewarded for keeping their assets in THORChain. APY comes from block rewards, incentives and the swap fees. LP’s get their rewards when they take their assets back out of THORChain.
If each pool is comprised of two assets eg. BTC:ETH then there will be a scaling problem with n*(n-1)/2 possible connections. By having RUNE one side of each pool, $RUNE becomes a settlement currency allowing swaps between any two other asset. Additionally, having $RUNE in a pool ensures that the network can become aware of the value of assets it is securing.
Simply put, Cross-chain bridges are a better solution than Atomic Swaps. Atomic Swaps involve a complex 6-8 process of signing cryptographic keys between two parties that require interactivity. You also need a counter-party on all trades. Cross-chain bridges, coupled with continuous liquidity pools means you don’t need a counter-party, and swaps can happen in less than a second. 1-way state pegs are better than 2-way asset pegs because assets don’t need to be wrapped or pegged. Instead of having IOU tokens, real assets can be used instead.
YES! Liquidity Providers will receive 100% IL protection for 100 days. Essentially this means you are adding 1% protection for every day that you provide liquidity. 49 days provided = 49% IL protection, 100 days = 100% IL protection.
There is no minimum or maximum time or amount. Join and leave whenever you wish.
Become a student at LP University! https://discord.com/invite/9TftHUuU3k
The goal is to have a fixed supply at all times. Instead of constantly emitting (infinite supply like Cosmos or Ethereum) or reducing the emission down to zero (Bitcoin) the team elect to match emissions to the difference between current circulating supply and the max supply, as well as burning fees. This means there is 500 million progressively emitted to nodes for security and liquidity over time.
No - not profit orientated. All fees go back to users. There is no revenue model for the team via the protocol. All swap fees go to liquidity providers, all protocol fees are burned, emissions/block rewards go to validators. The team are incentivised through holding the same RUNE as everyone else. The team are providing a service, a service that contributes to the decentralisation of the whole crypto ecosystem. We are the first multi-chain DEX with native assets!
Try not inputting a max amount (100%) to leave some funds for gas.
You will need additional BNB or ETH in your wallet to cover the tx to upgrade.
It is important to note the current congestion of said asset you want to swap, as gas fees on ETH and congestion on BTC will affect how much fees you will pay.
This will improve when depths of liquidity pools increase and a prediction of gas will also soon be implemented.
The other chain’s network fee is out of THORSwaps control and is due to efficiency of their native network.
i.e to swap Native BTC to Native ETH directly on THORSwap -> you would pay BTC network fee, ETH network fee, and RUNE network fee.
Compare it to a swap from Native BTC -> Wrapped BTC -> Wrapped ETH -> Native ETH. You would pay multiple transaction fees using ETH.
When you swap to an L1, you pay the outbound gas fee on that chain with a 3x premium.
We are updating the interface to: 1) Give you a quote with this fee added 2) Not let you swap an amount below this 3) Add more info about fees
In the future, you will be able to swap any small amounts -> BTC/BTC synth (for 10-20c), then redeem all at once in a large amount of BTC.BTC.
1x doesn’t work as the system would be at a loss, since it uses 1.5x the advised gas.
1.5x wouldn’t work because the system would barely break even.
So it charges 2x what the nodes use (1.5x) and pays the LPs back for ACTUAL gas.
The margin, 1.5x, is system income.
The fee structure has a fixed component and variable component on the tx size.
On those 3x of the gas outbound chain, there is half of that is going to the network and LPs as a “network fee” (1.5x) and the outbound transaction has the other half (1.5x) of that fee to use as gas on the chain, so its up to 1.5x the average current gas to make sure its a fast transaction.
TLDR: This is your ticket to ASGARD!
All-in-one tools and features in one interface, you can stay in just one interface and never need to leave all the time
Analytical Dashboard and Professional UI/UX
Highly Scalable Infrastructure
Extraordinary development speed
High Quality and scalable codebase (maintain and integrate thorchain.js)
Strong Community Engagement and Social Activity
100% Transparency through the medium blog post
Support other ecosystems like LPU and Marketing Campaign
24/7 Technical Support through Discord
Currently - BTC, ETH, LTC, BNB, BCH, ERC-20 (USDT and SUSHI), BEP2 (BUSD and BTCB)
Soon - XHV, BSC, DOGE, ZCASH, DOT, KSM, XMR, SOL, LUNA, ATOM, AKASH, SCRT, INJ, SIF, FIL and many more!
No. Only short tail assets with high MarketCap, good velocity and economic activity would have chances to win liquidity competition to get listed.
There will be a USDr pool, which will be connect with many different USD stablecoins, derisking them all and allowing traders to arbitrage the price to exactly $1. USDr will use collateralised debt positions in a novel way with the existing continuous liquidity pools so that it is liquid and safe.
THORSwap are the team that built BEPSwap and our vision is to become the #1 decentralized exchange in the world.