THORSwap Monthly Recap: July 2022
Cosmos $ATOM Launch, THORYield v2.0 launch, SushiSwap Onsen Farm, vTHOR Reward Recap & more! ⚡Plus teases for DEX Aggregator, THORSafe 👀
Welcome back THORChads, it’s been another big month of BUIDL for us at THORSwap. We kicked off July with the official integration of Cosmos ($ATOM), followed by a brand new makeover of our DeFi tracking app — THORYield V2 for mobile devices. On the protocol side we launched a SushiSwap Onsen Farm and shared detailed metrics of vTHOR Rewards in May.
This month’s recap is full of important details and juicy #alpha, read on for more!
⚛ Cosmos $ATOM arrives on THORSwap ⚛
We have finally connected with Cosmos — The Internet of Blockchains! THORSwap Users can now swap $ATOM directly to native BTC, ETH, BNB, RUNE, DOGE, BCH, LTC, stablecoins (USDC, USDT, BUSD, DAI) and many other ERC-20/ Binance Chain assets.
Swaps between native assets can be completed in one step and do NOT require any bridging or wrapping.
The $ATOM pool on THORChain currently has $2.37M in liquidity. For a detailed step-by-step tutorial on how to swap $ATOM on THORSwap, please refer to our Tutorial Videos on YouTube:
To celebrate the arrival of Cosmos, as per tradition, we released a limited edition Tee featuring the key art by THORSwap’s @paperX_Art:
All collectors of this Limited Edition merch will be airdropped an NFT with every purchase.
⚡ THORYield v2.0 Launch ⚡
On July 15th we launched our completely revamped THORYield mobile app! Complete with modern UI, UX improvements and brand new features:
- New Design and Features
THORYield v2.0 includes a full design revamp of the existing app, maintaining core features and introducing new functionality.
- LP Positions UI has been fully revamped
LP Positions UI features a new design and structure, it’s now much easier to track your LPs on THORYield with a cleaner interface and more metrics.
- $THOR Staking UI
The $THOR Staking Rewards Tracker has been improved, now featuring token price and daily timeframe chart as well as Staking related Stats about your positions and token metrics.
- Portfolio Tracker
Our Portfolio Tracker page has undergone a design refresh and introduces new features. You can now view aggregated metrics and details on each specific token in a dedicated page with historical price charts.
- THORChain Learn
Want to catch up on everything THORChain on the go? We’ve built a dedicated section with news and learning material so that you can always stay up to date when a new educational updates and content on THORChain & THORSwap are released.
🍣 SushiSwap Onsen Farm 🍣
This month we partnered with SushiSwap to launch an Onsen Farm for very own protocol token $THOR.
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.
Currently our TVL puts us at Top 27 on Sushi Onsen with APR remaining strong. We thank all LP’ers who staked with our Onsen Farm as well as everyone who participated in Olympus Pro so we can have substantial POL to always guarantee liquidity for users.
You can learn more about the SushiSwap Onsen program and how to provide liquidity here.
🔥 vTHOR Distribution Update 🔥
Here’s a look back at THORSwap’s May Rewards Distribution:
- Nearly 1/3 of a Million was generated in revenue
- Over 1/4 of a Million worth of fees earned were distributed to $THOR stakers ( $vTHOR holders), equal to a sustainable real yield APY of 17.76%
- On The highest trading days, $vTHOR rewards from Fee-share equated to 25% of total yield.
- Fee-share yield + $THOR rewards meant on days we saw over 300%+ vTHOR APY
- $57,505 was collected for our treasury, helping us sustain BUIDL-ing no matter the market condition.
$vTHOR is now listed on Ledger Live!
You can now send, receive and manage $vTHOR directly from Ledger Live safely. To recap: $vTHOR is the new ERC-4626 vault token which represents your staked $THOR position. As a tradeable and composable token, you can send and receive $vTHOR to other wallets while still accruing staking rewards + compounding yield.
News & Media
THORSwap Web App Update Notes
- [Feature]: Cosmos Chain Integration
- [UI]: Slider for liquidity withdrawal
- [Optimization] Reduced first page load time by ~20%
- [Fix]: Cosmos fgasee calculation errors
- [UI]: RUNE Upgrade rate
- [UI]: High slippage warning
- [Fix]: Fee calculation errors
Coming up next…
The THORSwap DEX Aggregator is close to launch and is currently undergoing rigorous internal testing by the team.
Our brand new Ethereum Aggregator will include the following top DEXs and Aggregators: Sushiswap, Uniswap v2, Uniswap v3, 1INCH, 0x.
Our full featured Cross-Chain Dex Aggregator will allow users to swap from any ERC-20 to Native Bitcoin, Litecoin, Doge, Atom etc and vice versa. Even more importantly with deep liquidity across many pools, THORSwap will find you the best route and pricing on market for every trade.
THORSafe Multi-Sig Wallet
THORSafe Multi-Sig Wallet interface is currently undergoing testing and will be released to the THORChain community in the near future.
Some examples of THORSafe benefits:
- Enhanced Security for Self-custody
- Reduces dependency on one person and one device.
- DAO/ Group Decision making
- Escrow Transactions
- Running a THORNode/ Providing Liquidity as a Collective
Avalanche is coming soon to THORChain. We’re currently undergoing testing and UI development on THORChain Stagenet — get ready & spread the word! 📣
Wallet Picker UI update
With more chains and more wallets integrated, an redesign of our wallet connection UI is in the works…here’s a sneak peak 👀
…and that’s all folks! It’s another big update this month — we intend to do good on our promise to continue BUIDL-ing hard through any market. Thank you for sticking us through this Multi-Chain journey, onwards! ✊
THORSwap is the leading decentralized exchange (DEX) powered by multi-chain THORChain. Perform cross-chain swaps in a permissionless, trustless, and non-custodial manner.
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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