2021: A Year in Review
It’s been an incredible year, THORChads!
In less than 9months, we launched the official THORSwap app, quickly achieved the most stability, and shipped dozens of new products and features.
Let’s take a look back at 2021.
April 14th: THORSwap DEX Official Launch
THORSwap makes history by launching the world’s first MCCN DEX powered by THORChain. Users can swap cross-chain assets in a permissionless and non-custodial manner for the first time ever.
April 26th: MetaMask and XDEFI wallet integration
THORSwap integrates MetaMask and XDEFI Wallets.
May 10th: $300M swap volume milestone + 1st major update
In less than a month, we processed 55,632 native swaps equaling $305 million in total swap volume! We also shipped THORSwap’s first major product update, based off the amazing feedback from the community:
- Better Fees Handling
- Liquidity Dashboard (https://thorchain.tools)
- Liquidity Chart
- Pending withdrawal
- Expert Mode
- Improved asset Selector
- Live 1:1 Technical Support in our Discord
June 4th: THORNames launch
THORNames are vanity, human-readable THORChain wallet addresses, aka ENS for THORChain. The THORSwap team launched the interface for users to register their THORNames during a multi-phase launch.
June 30th: Strategic partnership with Thorstarter
September 14th: graduated from Sanctor Turbo
THORSwap graduated from Sanctor Turbo’s inaugural Alpha Class, a six-week mentorship program for blockchain projects. During Sanctor Turbo’s Demo Day, we unveiled a first look at a slew of new apps and product updates.
September 16th: 10 new features and improvements
- New UI Layout with a Sidebar
- New wallet integrations
- New wallet management
- New wallet statistics
- New simultaneous wallet management
- New Desktop App release
- New THORNode Management tools
- Improved Light mode UI
- New blockchain network status
- New infrastructure improvements
September 17th: New THORYield Discord BOT
September 20th: THORChads Platform & THORChad Score launch
To thank and reward loyal THORChain community members,
we launched the community-owned THORChads Rewards Platform, the future launchpad of community initiative projects.
September 28th: $THOR Tokenomics reveal
The $THOR token is designed to:
- Progressively decentralize towards majority ownership by the community
- Reward positive user actions and community contributions
- Incentivize trading, aka the “Trading Black Hole”
- Fund growth efforts and community projects
- Govern the protocol in a decentralized manner
- Complement and accrue value to the $RUNE token, THORSwap community and other THORChain ecosystem assets
October 5th: $3.75m round led by IDEO CoLab Ventures
THORSwap announced its $3.75 million round led by IDEO CoLab Ventures with participation from True Ventures, Sanctor Capital, THORChain, Nine Realms, Proof Group, 0xVentures, Qi Capital and more.
October 27th: XDEFI bonus allocation via THORChad Score
In the THORChads spirit of offering perks and rewards to loyal community members, we worked with our friends at XDEFI to offer a 5x increased allocation to XDEFI’s upcoming IDO — $4 million dollars dedicated to THORChads!
November 1st: $THOR token launch on Thorstarter
The goals of this launch were to allocate to the community as widely as possible, while also limiting whale activity. With this in mind, this fair launch allowed community members to participate at the same price as VCs, a rare opportunity in the cryptosphere.
100% of funds were committed within 17 mins, and the launch was oversubscribed by 2x by 5k+ participants!
November 3rd: $THOR pool launch on THORChain
The launch of the $THOR liquidity pool on THORChain saw roughly 1,200 participants deploy over $110 million in liquidity. That said, it was a poor user experience for most participants, which led to THORChain returning 100% of funds, additional $THOR airdrops, a community feedback campaign and a transparent report of the many lessons learned.
November 4th: $THOR available on SushiSwap
Thanks to Thorstarter’s assistance, $THOR became available to trade on SushiSwap.
November 5th: LP, Staking and Farming Rewards begin
To reward early supporters, juicy block rewards were offered to liquidity providers. THORSwap is progressively decentralizing into a community-owned protocol, with 65% (airdrop+community incentives+public) of $THOR’s total supply going to Chads like yourself.
November 9th: 1st $THOR Airdrop
November 30th: THORSwap launches THORYield V2
THORYield V2 launched with an improved design and many new features and enhancements. THORYield V2 is the best app to track THORChain LP yields and network stats.
December 9th: $THOR bonds launch on Olympus PRO (🔱,🔱)
This bonding mechanism allows THORSwap to accumulate its own liquidity (Protocol Owned Liquidity) — providing more consistent liquidity for trading, more efficient THORChain pools and nodes, thereby leading to more value accrual to $THOR and $RUNE.
December 10th: Introducing the THORSwap Incentive Pendulum
THORSwap’s own Incentive Pendulum rebalances incentive rewards to improve THORChain liquidity efficiency and allow THORSwap to acquire its own liquidity — all of which creates deflationary effects on $THOR.
December 14th: Season 1 drop of THORChad NFT Trophies
NFT Trophies are limited edition NFTs that are rewarded to top community members. Unlike most NFT collections, THORChad NFT Trophies are not purchased — they must be earned! Trophy hodlers will enjoy exclusive access, airdrops and other perks 😉
The Road Ahead
With almost two dozen product launches shipped in 2021, THORSwap will continue to buidl and ship through 2022 and beyond!
Happy New Year, THORChads! (🔱,🔱)
THORSwap is the leading multi-chain, decentralized exchange (DEX) platform powered by THORChain. Perform cross-chain swaps in a permissionless, trustless, and non-custodial manner.
The home of the THORChad Metaverse, where the community can interact with creative projects like NFTs and games. THORChads.com will act as a creative launchpad, supporting new creative community projects with marketing, dev support, and more.