- THORChain does away with intermediaries such as bridges.
- Terra integration has been finished and is now ready for public release.
THORChain, a decentralised cross-chain exchange, gained 26% yesterday, bringing the network’s native RUNE token to a 51 percent gain in the last seven days, according to CoinMarketCap. THORChain, one of the network’s most anticipated integrations, has made a powerful reappearance.
Following a week of steady gains, the RUNE token on the cross-chain decentralised exchange gained an additional 26% on Wednesday. RUNE has gained 51% in the last week, reaching a 24-hour high of $5.77. The demand for THORChain’s native token has increased as a result of a variety of upcoming catalysts.
Customers of networks powered by THORChain can now exchange LUNA tokens and stablecoins for assets on the Terra network, which is presently in development. According to a tweet provided by Nine Realms on Tuesday, the Terra integration has been completed and is ready for public distribution. SCV, Terra’s smart contract auditor, is now collaborating with Terra developers to ensure that the integration works properly prior to the mainnet’s debut.
Alongside Terra, DeFiSpot, a decentralised multi-chain exchange built on top of THORChain, is about to launch. Along with the current high returns on THORChain-integrated chains, the initiative offers “boosted annual percentage yields.” Users can now earn 60% APY on Binance USD, 19% on native Ethereum, and 17% on Bitcoin.
By allowing users to transfer their assets directly between blockchains, THORChain eliminates the need for intermediaries such as bridges or controlled exchanges. Litecoin, Dogecoin, Ethereum, and BNB Chain are the network’s newest additions to its cross-chain trading, which now encompasses six other blockchains. Terra will be THORChain’s sixth integration.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.