Cross-Chain Decentralized Exchange, THORchain (RUNE), Launches After 3 Long Years of Development
Thorchain (RUNE) is now live.
“Multichain chaosnet is now live to the public, ASGARDEX released,” announced the team on Tuesday.
The blockchain for decentralized cryptocurrency trading has been in the making for three years and finally amidst the bull run of 2021, it has been launched. The Multichain chaosnet (MCC) basically enables cross-chain swaps between Bitcoin, Ethereum, Bitcoin Cash, Litecoin & Binance Chain networks. BTC 1.19% Bitcoin / USD BTCUSD $ 58,455.00
$695.611.19% Volume 69.43 b Change $695.61 Open $58,455.00 Circulating 18.7 m Market Cap 1.09 t 14 h VanEck Files for the First Ethereum ETF in the US 17 h Risk-on Sentiment Sending Bitcoin, Ether, & Gold Higher as President Biden Declares 'We Can’t Let Up' 1 d BoE Governor Andrew Bailey Says Crypto Investors Trading In A Bubble ETH 12.89% Ethereum / USD ETHUSD $ 3,981.26
$513.1812.89% Volume 54.22 b Change $513.18 Open $3,981.26 Circulating 115.8 m Market Cap 461.03 b 14 h VanEck Files for the First Ethereum ETF in the US 17 h Risk-on Sentiment Sending Bitcoin, Ether, & Gold Higher as President Biden Declares 'We Can’t Let Up' 1 d BoE Governor Andrew Bailey Says Crypto Investors Trading In A Bubble BCH -1.42% Bitcoin Cash / USD BCHUSD $ 1,363.80
-$19.37-1.42% Volume 6.38 b Change -$19.37 Open $1,363.80 Circulating 18.73 m Market Cap 25.55 b 2 d Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance 3 d Bitcoin and Ether Record The Largest Inflows Since February: CoinShares Report 4 d DOGE Hits A New ATH, Now Halfway to $1, as A Major League Baseball Team Accepts it as Currency LTC 0.31% Litecoin / USD LTCUSD $ 345.98
$1.070.31% Volume 6.33 b Change $1.07 Open $345.98 Circulating 66.75 m Market Cap 23.1 b 2 d Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance 3 d Grayscale Partners with New York Giants, Becoming the Second Crypto Sponsor of an NFL Team 3 d Bitcoin and Ether Aren't the Top Traded Crypto's on Binance Or the Biggest South Korean Exchange BNB 3.17% Binance Coin / USD BNBUSD $ 648.61
$20.563.17% Volume 4.03 b Change $20.56 Open $648.61 Circulating 153.43 m Market Cap 99.52 b 1 d Cryptocurrency Related Stocks Tumbling in a Massive Divergence from Crypto Assets 1 d Sushi Goes Live on Polygon (MATIC), Andre Cronje Proposes A Curve like Mechanism for it 3 d WallStreetBets Launches Blockchain-Powered Exchange Traded Portfolios, Ran Through A DAO
In response, its token RUNE also surged to $12.90. The three billion dollar market cap crypto is up 880% YTD.
For the time being, the team has advised against rushing to upgrade to native RUNE or sending large amounts of assets to the wallet for swaps, adding “there is ample time.”
Much like popular DEXs Uniswap, SushiSwap, and Bancor, Thorchain is an automated market maker (AMM) with one big difference: it enables the trading of cryptos from other blockchains without being “wrapped” in their real versions and not synthetic.
“CEX is great, but have you ever experienced a chain-agnostic bridging protocol enabling trustless and secures value-transfer connections with most other chains… Enter Thorswap powered by THORCHain,” tweets the team.
— THORSwap #BRINGTHECHAOS ⚡ ᚱ (@thorswap) April 13, 2021
Thorchain is a native cross-chain decentralized exchange (DEX) that boasts of being the “first and only protocol” to swap assets between different chains in a non-custodial setting without pegged or representative assets.
The network is secured by node operators who underwrite pooled liquidity provided by yield-seeking asset holders. For now, there are liquidity caps, but over time, they will be increased.
Over the coming weeks, the team plans to add more features such as synthetics which are secured base layer assets, composites like THOR.USD, THOR.DEFI, loans, and more chains.