This week, THORChain (RUNE) grew 70 percent to $5.5, thanks to technical improvements in its ecosystem.
A decentralized liquidity protocol was prepared for the long-awaited launch of the mainnet, and the integration with Terra surged ahead of schedule. Users of THORChain can easily exchange cryptocurrencies. Besides enabling permissionless asset swapping, it can also eliminate the need for centralized exchanges for their users.
Integration with Terra
With Terra, a blockchain protocol that promotes algorithmic decentralized stablecoins, you can now trade, stake, bond, and reward stablecoins on THORChain, an independent blockchain for governance and staking.
Terra combines LUNA tokens and TerraUSD stablecoin (UST) into the THORChain ecosystem due to successful integration. Thus users can enjoy more trading and skating options presented in the ecosystem.
On THORChain’s cross-chain exchange, six wallet types are offered for eight blockchains.
Additionally, the platform has the option to work with all Cosmos-based projects. With Cosmos, you can potentially create a network of decentralized blockchains that operate as part of the same ecosystem. The protocol may also be used to scale blockchains in the future, which may lead to it becoming a new standard.
Mainnet Launch
Another thing that may have helped lift the coin was news of the mainnet launch, which was rumored to happen soon. It has been planned for THORChain to launch its mainnet in late 2021, but certain issues slowed it down.
The Mainnet, an established blockchain protocol that has been fully developed and deployed, finally meets the criteria for certification. Test runs with forking the chains are also included, rehearsals of adding and removing chains and removing Bitcoin and Litecoin from the testnet. As a result of a hard fork from the current protocol, THORChain will launch on the mainnet.
High Staking Yields
Numerous reasons make THORChain appealing to investors. One of them is its high stake rewards. There is a 55% reward for Binance USD and a 30% reward for DAI stable coin for liquidity providers. A few come after, like Litecoin and Dogecoin, which offer 26% and 24% rewards, respectively.
THORChain is rolling out notable new features for its decentralized system as part of its effort to compete with centralized exchanges. Peer-to-peer credit lending, market orders, or leveraged trading are among them.