ThorChain is the atomic swap tech that Bitcoiners were dreaming about back in 2017 when Bitcoin was still more about building a global economy than it was about toxic maximalism.
THORChain also has the highest yields available compared to less superior options.
Thorchain is well on its way to becoming a liquidity black hole and approaching Valhalla After the network was relaunched, its recovered to reach ATHs of $1 bn in total TVL, $500mn in its liquidity pools, and $2bn in swap volume all in the month of March.
Last month, Thorchain integrated Terra onto the network. In 3 weeks, the network amassed $90mn in UST and LUNA liquidity. 11 days into April, THORChain has already done $1bn in swapping volume, with UST being the 2nd most traded asset. UST should surpass BUSD in no time.
For the first time, THORChain allows Bitcoin holders to earn yield on the NATIVE asset. No centralized custodians, no wrapping, and no bridging. It currently has the highest APY out there for Bitcoin.
The determinsitic pricing mechanism, the minimum RUNE price can be projected based off potential future TVL growth. Assuming 3% of UST from Anchor and 5% of BTC at work on Ethereum come to THORChain in search for higher yields, the floor price of rune could inc. 484%!
THORFi is the final building block needed for THORChain to become a premier DeFi hub with a full suite of financial products including lending, saving accounts & a stablecoin.
Also, THORSwap is an incredibly cheap way to gain exposure to the growth of cross-chain swaps.
Why Bitcoin and ThorChain?
The entire point of Bitcoin (BTC) is about maintaining financial sovereignty. Some BTC holders want to sell it periodically to avoid volatility or to reduce risk. Others would like to use it as a collateral. Those who want more yield would want to stack more sats.
The raison d’être of Bitcoin is open, borderless, and immutable money for sovereign individuals. However, when third party intermediaries like any cryptocurrency exchange is utilized the “Sovereignty” is lost. This is because of “Not your keys-Not your Coin.”
Intermediaries are required to legally spy on your holdings, and they can even freeze accounts if required by the governments.
DeFi is proposed as an alternative to the intermediaries. With Defi you are the Sovereign over your own money. How can someone access DeFi without intermediaries? How can they sell without Intermediaries?
Holding a multichain wallet is considered to be a method to hold Bitcoin without intermediaries. There are no KYC, banks, transaction limits, permissions, territory restrictions, and it is faster and more convenient.
Thorchain, the decentralized exchange makes it possible of Bitcoin holders to sell native Bitcoin into something stable without an intermediary. Thorchain is the world’s only decentralized multi-chain liquidity pool. While this does not help the holder of BTC spend BTC in the real world – this is one of the way in which people who have different risk preference to buy and sell BTC without intermediaries.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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