2022: A year in review
4 New Chains, THORNames, THORSwap WebApp v2 Update, THORSafe Multi-Sig, ETH & AVAX Cross-Chain DEX Aggregator, Wallets Integrations and Partnerships.
It’s been an incredible year, THORChads!
As we reflect on the past year, we wanted to take a moment to highlight some of the major milestones and achievements that THORSwap has accomplished in 2022.
January 18th: $DOGE Launch on THORSwap
We kicked off the year by adding support for Dogecoin ($DOGE) to THORSwap, allowing users to trade $DOGE and earn yield by adding liquidity in a permissionless, Non-custodial and decentralized way.
This integration will bring more utility and value to Dogecoin. To learn more about THORChain’s technology, please visit the docs.
March 9th: THORSynths: Mint, Redeem and Swap Synth Assets
In March, we launched THORSynths, a suite of synthetic assets.
Synthetic Assets (“Synths”) are a collateralized representation of an asset on THORChain. These derivatives of cryptocurrencies such as Bitcoin, Ethereum, etc will always have the same value as the original asset.
Synths have great utility for traders and arbitrageurs, as they can be transacted nearly instantly and at a fraction of the cost compared to native L1 swaps. This is due to the fact that synths solely live on the highly-scalable THORChain network (so no need to worry about different chains, gas prices, wallets).
March 25th: Terra $LUNA & $UST launch on THORSwap
Back in March, we also added two new assets to THORSwap: TERRA $LUNA and $UST. The launch of these assets was met with high demand, leading to a significant increase in trading volume on the platform.
April 13th: THORSwap v2 launch
In April, we released THORSwap v2, which included a number of enhancements and new features such as improved performance, a sleek new user interface, and enhanced security measures.
April 21st: [Q2 Update] THORSwap roadmap
We also shared our roadmap for the second quarter of the year, outlining our plans for the future development and growth of THORSwap.
Major Highlights from our Q2 (2022) Update includes:
vTHOR Staking, Cross-Chain DEX Aggregator and the THORSwap API, everything has been delivered on time, respecting the expectations of the community.
April 25th: vTHOR Staking launch
On April 25th, we launched vTHOR staking, allowing users to earn rewards, and access to trading discounts.
$vTHOR is the new membership staking token that offers generous rewards and benefits to active THORSwap participants and users.
$vTHOR is built as a Tokenized Vault Standard (ERC-4626) on Ethereum, a cutting edge development which will become the “gold standard” in DeFi.
The upgraded Staking 2.0 Rewards includes Community Incentives emissions, and also 75% of ALL THORSwap fees!
This new staking rewards model signifies a transition from emissions-based rewards, to a more sustainable model based on fee-sharing with our community. As of today, January 3rd the TVL of vTHOR Staking is 72.797,925 THOR ($21.164M).
June 29th: THORName launch
In June, we introduced THORName, a decentralized naming service.
This truly cross-chain name service simplifies and humanises THORChain wallet addresses to optimize cross-chain compatibility. Register yours today: https://app.thorswap.finance/thorname
Unique to THORChain, TNS allows anyone to register cross-chain wallet addresses to a 1–30 long string of hexadecimal characters which includes special characters
-_+. THORNames are case insensitive.
In short, it is a domain naming system for your wallet based on the THORChain blockchain.
A THORChain address can be assigned one (1) THORName to manage the other associated addresses for supported L1 Chains.
For example, Chad registers Chad.THOR and assigns it to their THORChain address. Using our dedicated interface, they can then assign a wallet address to each supported L1 chain.
July 14th: Cosmos $ATOM Launch
We added Cosmos $ATOM to THORSwap in July, expanding the range of assets available for trade on our platform.
With the arrival of native $ATOM to THORChain, IBC’s true cross-chain potential can finally be unlocked. All #Cosmonauts can now directly swap BTC for ATOM, then use protocols such as Osmosis to swap from ATOM to any other asset in the Cosmos ecosystem. We also added support for Keplr Wallet and Ledger following the integration of this new chain.
July 15th: THORYield v2.0 launch
We also launched THORYield v2.0, which introduced new features and improvements to our yield tracking app.
THORYield v2.0 includes a full design revamp of the existing app, maintaining core features and introducing new functionality. We added THORChain Learn UI, vTHOR Staking and a fully revamped portfolio tracker with detailed metrics on your holdings. Learn more here.
July 26th: $THOR Sushi Onsen Launch
With the launch of our new $THOR Onsen farm, users who are providing THOR-ETH liquidity on SushiSwap can stake their SLP tokens to receive additional liquidity mining rewards — in the form of both $SUSHI and $THOR — whilst maintaining their exposure to THOR/ETH. Don’t miss this chance to stack more yield! Learn more on how to provide liquidity here.
August 16th: THORSafe Launch
In August, we released THORSafe, a secure and easy-to-use non-custodial multi-sig wallet.
THORSafe Multi-Sig is a special THORChain wallet that is shared by two or more members. To create and broadcast transactions, it must be approved and ‘signed’ by designated members according to a set threshold.
Example: with a 2 of 2 wallet THORSafe Member A wants to send funds. When they try to move funds, the wallet creates a transaction proposal that is only signed by Member A. Sending the funds requires both Member A and Member B to sign the transaction. Until Member B approves the transaction, the funds stay in the wallet. Once Member B approves the proposal, their wallet signs the transaction, broadcasts it to the network and sends the funds.
A 2 of 3 THORSafe wallet has three members but requires only two signatures.
August 23rd: Ethereum cross-chain dex aggregator launch
THORSwap users can swap between 4,800+ whitelisted ERC-20 tokens and Layer 1 blockchains such as Bitcoin, Binance Beacon Chain, Cosmos, Dogecoin, Litecoin, Bitcoin Cash, THORChain (and soon Avalanche) in a seamless, non-custodial manner without the use of bridges or wrapped assets.
Read on to learn all about the most important update since the birth of our protocol. For a practical tutorial on how to use our Aggregator, watch this:
October 4th: Avalanche $AVAX launch
Blazingly Fast, Low Cost, & Eco-Friendly. We couldn’t be more excited to welcome the Avalanche community to the THORChain ecosystem. No compromise, truly decentralized self-custody exchange of native assets is not easy, but we believe it is critical for Crypto’s multi-chain future.
AVAX’s arrival on THORSwap means an end to over-reliance on centralized bridges & wrapped assets for Avalanche users who wish to conduct Cross-Chain swaps with full self-custody.
To learn more about THORChain’s technology, please visit the official docs.
November 4th: Avalanche Cross-chain dex aggregator launch
THORSwap is now a full-featured Decentralised Exchange for Avalanche tokens — trade your favorite C-Chain tokens with each other and cross-chain to all Ethereum ERC-20s, $BTC and more, with optimized routing for price, slippage and gas.
This is possible by connecting THORChain native LPs with the vast liquidity available on other Decentralized Exchanges and Aggregators (such as: Pangolin, Uniswap V2+V3, SushiSwap, 1inch, 0x Protocol).
By connecting your own self-custodial wallet to THORSwap, you can swap native $BTC with an AVAX token such as $PNG. We then pick the best route with lowest slippage — to bring you the best trade in a single transaction ($BTC > $AVAX > $PNG).
Likewise, swapping any AVAX and ETH asset for example could be routed from Uniswap to THORChain to Pangolin (i.e. $UNI> $ETH > $AVAX > $PNG) Learn more here.
THORSwap Cross-Chain API and SDK
THORSwap now offers our own full featured API+SDK for third party dApps and developers. Our secure solution removes technical barriers for permissionless 1-click native cross-chain swaps — allowing any any protocol can now go multi-chain! If you’d like to integrate our powerful API, you can read our documentation here.
November 14th: THORSwap Earn launch
Earn native yield with THORChain Saver Vaults with no additional assets exposure or impermanent loss. We’re proud to usher in a new era of single-sided yield, powered by THORChain’s latest innovation: Savers Vaults ⚡
It’s as simple as depositing $BTC and earn $BTC. With THORSwap Earn, there’s no longer additional $RUNE exposure compared to traditional LP, therefore no Impermanent Loss.
Try THORSwap Earn today 👉 app.thorswap.finance/earn
December 1st: KyberSwap Integration Launch
We integrated Kyber Network to make it the first aggregator and DEX to connect their liquidity and aggregation across multiple chains.
This means users can access one-click decentralized cross-chain swaps between KyberSwap’s Ethereum and Avalanche aggregator and liquidity.
Swap between any ETH token ↔ AVAX token using KyberSwap aggregation in 1 transaction. This also includes connecting KyberSwap for SwapIn’s to major L1s on THORChain like BTC, ATOM, DOGE i.e swap ETH/AVAX tokens -> Major L1s.
Learn more about the integration here.
THORswap is a multi-chain DEX Aggregator built on THORChain’s cross-chain liquidity protocol and the flagship interface for all THORChain services. Perform permissionless cross-chain swaps right from your own self-custodied wallet. Learn more at https://thorswap.finance.
THORSwap App: https://app.thorswap.finance
THORSwap Docs: https://docs.thorswap.finance
Telegram Announcement: https://t.me/thorswap_ann
Community YouTube: https://www.youtube.com/THORSwapCommunity
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