THORSwap Launches Cross-Chain Transactions for Most Ethereum Tokens
THORSwap, the multi-chain DEX aggregator built on THORChain, has just launched cross-chain trading for the majority of Ethereum tokens.
In last night's announcement, THORSwap integrated the Ethereum Aggregator DEX into its platform. Cross-chain trading thousands of ERC-20 tokens on 8 layer-1 blockchains has never been simpler.
The addition of support for these assets combined with aggregated liquidity from DEXs such as Uniswap and Sushiswap allows users to quickly swap crypto assets directly on THORSwap without the use of a bridge. third-party.
Users can choose which token they want to transfer and THORSwap is supporting Bitcoin, Ether, BNB, Dogecoin… The protocol currently holds about $361 million in total locked value (TVL).
Cross-chain swap allows users to swap tokens from one blockchain to another on another blockchain. This process can take place through a single protocol or multiple protocols (like a combination of decentralized exchanges and blockchain bridges). In this case, THORSwap uses only THORChain for execution.
THORChain (RUNE) is a decentralized cross-chain protocol built on top of Tendermint and Cosmos-SDK, with the goal of increasing liquidity for crypto assets. Back in 2021, THORChain suffered an exploit in July, causing a loss of 7.8 million USD because of Bifrost, this vulnerability pushed the price of RUNE down to 3 USD, but the platform only took 4 months to revive strongly. strong.
Although the market in early 2022 is struggling, TVL on THORChain has grown tremendously and it seems that THORSwap is the only product built on it.
Crypto Fox News summary
Aug 23, 2022