A decentralised cross-chain liquidity network called THORChain (RUNE) makes it possible to exchange cryptocurrencies without the use of a centralised middleman. In order to facilitate the exchange of digital assets across several blockchain networks, such as Bitcoin, Ethereum, Binance Smart Chain, and others, it intends to offer a permissionless and trustless platform.
The THORChain platform was introduced as an open-source, decentralised platform for cross-chain liquidity in January 2019. The project was initially financed by a token sale, and during the ensuing years, development continued apace. Due in major part to the platform's creative layout and the rising demand for decentralised financial (DeFi) apps, the platform saw a huge increase in attention and popularity in 2021.
The main use case for THORChain is to offer a decentralised platform for exchanging cryptocurrency between various blockchain networks. By permitting cross-chain swaps, THORChain hopes to improve liquidity among different digital assets and give customers a quicker, more affordable option to exchange cryptocurrency. Anyone with a compatible wallet can utilise the platform, and it's made for an easy, basic user experience.
Cross-chain swaps are made possible by THORChain, which also offers liquidity pools where users can stake their assets and get incentives. The THORChain network's native currency, RUNE tokens, is used to pay out these benefits. Users can generate passive revenue from their digital assets by supplying liquidity to the marketplace.
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