THORChain records 6-week high after the latest Terra integration, and it continues to show signs that it could bring it back to the game again so let’s read more today in our latest altcoin news.
THORChain records a 6-week high as it surged by 70% this week or $5.5 on a series of technical developments in the ecosystem. The liqudity protocol surged before the long-awaited mainnet launch and the Terra integration. ThorCHAIn allows users to exchange crypto assets and enables them to swap assets in permissionless settings without having a need to rely on centralized exchanges.
THORSwap supports 6 wallet types for 8 blockchains as a cross-chain DEX. pic.twitter.com/eOzoZbKR0f
— THORSwap (🔱 ,🔱) (@THORSwap) February 25, 2022
Terra is a blockchain protocol that powers algorithmic decentralzied stablecoins that is partnered withTHORChain as an independent blockchain for governance, bonding, rewards, and staking. After the Integration terra brings LUNA token and UST stablecoin to the THorChain ecosystem and the users will now have more trading options in the ecosystem. Thorchain now supports six wallet types for eight blockchains.
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However, another big change was the option for the platform to support the Cosmos-based projects. Cosmos is a solution that could lead to a whole network of decentralzied blockchains that can work together on the same ecosystem while some see the protocol as an option for scaling blockchains that can become a new standard in the future. What could also be behind the push, was likely the mainnet launch that can become a reality. THORChain was planning a mainnet launch in late 2021 but the issues delayed the release.
The Mainnet is a term used for fully developing a blockchain protocol and deploying it to fit the criteria to see the light of day which includes the rehearsal of adding new chains, removing BTC and LTC from the testnet and test runs with forking of the chain. THORChain will launch on the mainnet with the hard fork from the blockchain protocol.
Investors are attracted to ThorCHAIn for a reason like the high staking rewards. Among the highest rewards for liquidity providers are 55% for BUSD and 30% for DAI stablecoin. The assets like DOGE and LTC follow with high rewards as well. ThorCHAIn aims to launch notable new features for the decentralized system in an effort to compete with centralized exchanges like orders, peer-to-peer lending, and leveraged trading.
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