THORChain

THORChain RUNE

$0.4848
Market Cap $ 76.808 MM (#172)
24h Volume $ 6.179 MM
Chg. 24h: 15.36%
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THORChain project purpose and description

THORChain clarity of purpose

THORChain purpose and aspects

THORChain is built for cross-chain permissionless digital asset liquidity. Stake assets in liquidity pools to earn fees, swap assets instantly at open market prices, borrow and lend on any asset, and pay in any currency. THORChain does not compete with any existing protocol or chain. Rather it is built to connect them all in one massively liquid, redundant and decentralised network.

THORChain categories

ExchangeMarketplace

Short description

THORChain is built for cross-chain permissionless digital asset liquidity. Stake assets in liquidity pools to earn fees, swap assets instantly at open market prices, borrow and lend on any asset, and pay in any currency. The future is open, liquid and incentivised.

Abstract

THORChain is a highly optimised multi-chain using pBFT consensus to achieve sub-second block finality. Tokens are traded on single chains, known as tokenChains with discrete address spaces. Multi-set sharding is proposed to allow byzantine resistant scaling. The native protocol facilitates on-chain atomic asset swaps at the protocol level. Continuous liquidity pools ensure liquidity is always available for any token pair, and double as the source of trustless on-chain price feeds, a cornerstone of the protocol. Fee incentives are designed to continually attract on-chain liquidity. On-chain token generation is built-in for both fixed and variable supply tokens, with the potential for auditable collateralized stablecoins. Two-way pegs with UTXO, account and contract-based cryptocurrencies allow most existing cryptocurrencies to seamlessly move on and off THORChain. Transparent developer incentivisation strategies allow wallet and developers to be funded at the protocol level which will encourage a vibrant developer community. On-chain governance and smart updates with enforced voting and quadratic voting ensures THORChain is an adaptive and iterative platform that grows with its needs without contentious hard forks. THORChain is built to be compatible with the Flash Network; a layer 2 payment channel network.

Link to Roadmap: https://thorchain.org/#roadmap
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