100 million TVL on ThorChain

This past week, Thorchain has had quite a few notable updates. Let’s go through and analyze and evaluate the events of week 23 of Thorchain.

Overview of ThorChain ecosystem last week tuần

The impressive numbers of the ThorChain system hệ

• On Multichain Chaosnet, there are currently 20 active pools, with a total TVL value of $97 million. You can track the above information on the dashboard of the ThorChain team here.
• On the first day of sale, 1000 THORNames were sold.
• In total, there are more than 300,000 swaps between Layer 1 on ThorChain, with a trading volume of about 10,000 transactions a day.
• XDEFI Wallet – the first native wallet app for ThorChain – has more than 25,000 users in 48 hours of launch.

New projects

Last week, Thorchain’s ecosystem had a number of new projects, along with many important updates:

• Suipe DEX – a DEX on ThorChain was just launched with a sneak peek of the project’s interface this past week. This is an application that provides a user interface based on ThorChain’s Liquidity Backend.
• Loop Finance – an AMM DEX on Terra – is about to link up with ThorChain to support crosschain swaps for the Terra ecosystem. This will be a very meaningful partnership, as ThorChain is being associated with an old image because the chains they support are very picky about users, while Terra is a very hot chain recently.

• Skip exchange – another DEX interface – is being developed on ThorChain. Currently, the project has released a preview version for Mobile, you can try it on your phone here.

Analyze each piece of the puzzle on the Thorchain ecosystem

AMM DEX

In the past week, the old DEXs on ThorChain have not had any significant updates (including ThorSwap, Vanaheimex, and Asgardex). However, ThorChain’s Raise The Cap campaign has been considered quite successful with nearly 100 million TVLs up to now, making it easier for DEX interfaces in the ecosystem to work with low slippage.

In the past week, there have been two new DEX interface projects on ThorChain, Suipe and Skip Exchange. The common point of the two projects is that they both only provide an interface for swapping, while both get liquidity from ThorChain. If you want to compare two projects, you can only compare the UI/UX side of the trading website.

Finally, Loop Finance – an AMM DEX in the Terra ecosystem – has announced that it will partner with ThorChain to connect liquidity from Terra to ThorChain. This is certainly a meaningful partnership for both parties, as ThorChain has access to abundant volume and liquidity on Terra, and users on Terra can also swap assets on the chains that ThorChain is running. Very easy support.

Wallet

XDEFI Wallet

A wallet application that specifically supports the ThorChain ecosystem has launched: the XDEFI Wallet. The wallet’s beta was still rolling out to users this past week – it’s a much-awaited app from the ThorChain community.

For example, when you use ThorSwap, you have two options to connect your wallet: connect directly to ThorSwap through the seed phase, or connect via XDEFI Wallet. With the implementation of XDEFI Wallet, you will have a much better UI/UX experience than the normal seed phase connection.

Infrastructure

Last week, ThorNames sold 1000 addresses on the first day of sale. Explaining ThorNames again: this is a service that names wallets via a Twitter handle. Assuming, your Twitter handle is “Alen”, then your cross-chain wallets through ThorChain will be Alen.btc, Alen.eth,… and can use that wallet address to receive BTC , ETH, … to the wallet. Currently, the chains that support this include: Bitcoin, Ethereum, Litecoin, Binance, and Bitcoin Cash.

From June 4-10, the registration of this address will be completely free, but from July 10 to 17, you will have to pay 5 RUNE for one use of the service, after July 17. is 10 RUNE.

You can try to register for yourself the name Thorchain wallet according to Twitter Handle here. This hits the psychology of users who want a wallet address that is easy to remember and easy to read, instead of a long string of characters that is difficult to remember and meaningless.

IDO Platform

Last week, ThorStarter – IDO Platform on Thorchain – is preparing extremely carefully for their public sale plan taking place on the 17th and 18th of this week. AMAs with groups are continuously opened, marketing activities are promoted continuously, twitter posts of this IDO Platform are continuously pushed on Twitter KOLs and projects on ThorChain.

Please stay tuned for more investment opportunities.

summary

• 100 million TVL was raised through the Raise The Cap campaign;
• DEX projects to watch out for this week include Suipe, Skip Exchange, and Loop Finance;
• ThorStarter is about to launch a public sale on June 17, 18,
• XDEFI already has 25,000 users 1 week after launch;
• ThorNames has launched and has sold 1,000 wallet addresses.

Are you guys most impressed with this update this week? Please comment below to let me know!

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