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About THORChain (BEP20)
What Is THORChain (BEP20)?
THORChain is a decentralized and autonomous cross-chain liquidity network. It decentralizes cryptocurrency liquidity by providing a network of public nodes which enable native on-chain swaps. Any person, product, or institution can swap various cryptocurrencies like BTC, ETH, DOGE, BNB, BCH, and LTC via its cross-chain liquidity. THORChain utilizes Threshold Signature Schemes and is based on the Tendermint and Cosmos software development kit.
The protocol can be described as a leaderless vault manager that observes incoming user deposits to vaults, processes the required step like swapping a currency or adding and removing liquidity, and performs the outbound transaction. That furthers its core goal: resistance to centralization and facilitating cross-chain liquidity. With economic guarantees regarding the assets’ safety, the network provides a secure solution to this problem.
All of this is available without requiring user registrations or resorting to wrapped assets. Instead, THORChain swaps native layer-one assets across multiple different chains. In doing so, its RUNE token serves as a settlement asset, provides network security, can be used for governance, and incentivizes using the protocol.
Who Are the THORChain (BEP20) Founders?
The project has no CEO, founder, or directors. It uses Gitlab to organize its development and focus on the decentralization of the project. Its anonymity helps developers to contribute by shipping code that improves the system’s value and helps stakers to secure their assets.
When Did THORChain (BEP20) Launch?
The "multichain chaosnet" is the equivalent of a mainnet. It launched in April 2021. Before that, the project was in development for three years.
Where Is THORChain (BEP20) Located?
Since THORChain does not have a centralized leader or team, the project has no headquarters and works in a decentralized manner.
THORChain (BEP20) Restricted Countries
At the time of writing, there is no information about restricted countries on THORChain.
THORChain (BEP20) Supported Coins List
How Much Are THORChain (BEP20) Fees?
The user is charged an amount that is three times the stored gas cost for each chain. This enables the pool and the reserve to earn a margin. The exact amount of fees depends on the gas costs for each chain.
Is It Possible To Use Leverage or Margin Trade on THORChain (BEP20)?
No data is available now
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