THORChain Description

THORChain functions as a decentralized liquidity protocol for cross-chain transactions, leveraging Tendermint and the Cosmos-SDK while employing Threshold Signature Schemes (TSS). Rather than pegging or wrapping assets, it effectively orchestrates their movement according to user interactions. The protocol monitors user deposits into its vaults, executes necessary business operations like swaps or liquidity adjustments, and manages outgoing transactions seamlessly. Acting as a decentralized vault manager, THORChain ensures that all processes are resilient to Byzantine faults. Its core mission is to maintain a decentralized structure and prevent any form of centralization or market manipulation while enhancing cross-chain liquidity. By securing only the assets held in its vaults, THORChain provides robust economic assurances regarding the safety of those assets, fostering user trust and participation in the ecosystem. In doing so, it aims to create a more interconnected and liquid blockchain environment.

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Company Details

Company:
THORChain
Year Founded:
2018
Headquarters:
Switzerland
Website:
thorchain.org

Media

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Product Details

Platforms
Web-Based
Types of Training
Training Docs
Live Training (Online)
Customer Support
Online Support

THORChain Features and Options

THORChain User Reviews

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  • Name: Anonymous (Verified)
    Job Title: President
    Length of product use: Less than 6 months
    Used How Often?: Daily
    Role: User
    Organization Size: 1 - 25
    Features
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    THORChain + Thorwallet 👏👍

    Date: Feb 22 2023

    Summary: I think THORChain is a somewhat hidden gem. It is used by trust wallet and others when the users make back swaps from within the wallet.

    I have used Telegram to ask questions and the devs answered immediately every time.

    THORChain is all set to have a great run during the next bull run.

    Positive: Hands down the easiest way to make swaps between tokens/cryptos from one chain to another. Plus you can place your crypto into savers vaults and earn yield that is generated by swap fees onchain.

    It is decentralized and thorwallet is noncustodial. Meaning you maintain control of you private keys. There are automated market makers on the way this year as well as zero intrest loans with no payback period. If you purchase and stake thorwallet's utility token TGT you can reduce your fees and earn staking rewards. All of this can be done with thorchain from within thorwallet or from a browser. There are other compatible wallets as well.

    By purchasing Thorchain's native token RUNE you can benifit from it's price appreciation as the liquidity pools and savers vaults fill up. As the dollar amounts increase in these pools the node operators are required to increase the amount of RUNE they hold. So the price of RUNE increases as the value of savers vaults increases.

    Thorwallet requires no KYC also. Nor does THORChain.

    Negative: THORChain is almost perfect. Thorwallet is a bit slow to load data but the devs are apparently working on an update to make it more responsive.

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