THORSwap is a leading multi-chain, decentralized exchange (DEX) dApp powered by THORChain’s cross-chain liquidity protocol. It is also the primary interface for all THORChain services like THORNames and synthetic assets.
The platform has come a long way as a DEX. It started when BEPSwap launched in 2020 on THORchain’s single-chain chaosnet. THORSwap debuted in Q2 2021 as a cross-chain DEX on top of THORChain’s multi-chain chaosnet. The platform now offers a variety of services as a leading DEX. It supports decentralized and non-custodial cross-chain L1 swaps between more than 25 crypto assets across over seven leading Layer 1 blockchains.
THORSwap supports the following blockchains:
- Terra Litecoin
- Ethereum (ERC20)
- Binance Chain
- Bitcoin Cash
A Community-Driven Platform
Amongst many things, THORSwap operates a community-first approach. It believes in a cross-chain world that is open and inclusive. Furthermore, the platform offers all its services as truly decentralized and scalable. THORSwap prioritizes its investors, traders, and liquidity providers. As a result, the platform’s native token, $THOR, is majorly owned by the THORSwap community.
Besides running a community-driven protocol, THORSwap is also an excellent place to earn yield on native currencies such as Bitcoin and Ethereum. THORSwap also permits its users to swap other blockchains in one simple swap. Furthermore, this process does not involve pegging, bridging, or even wrapping. So, users can swap native assets, stablecoins, Binance Chain assets, and ERC-20 assets.
Top 3 Farms in THORSwap
Let’s take you through the top three farms in THORSwap. However, our first choice will focus on earning on your native BTC.
This is one of the most profitable pools in THORSwap. Users can provide liquidity in either BTC/RUNE. Furthermore, users who supply liquidity will receive an APY of +9.93%. So far, there are about 1.20K pooled BTC and 7.19M pooled RUNE. The BTC-RUNE pool has a total liquidity of $86.15M. It has a 24-hour volume of $6.78M. In addition, there are about 4245 members in this pool.
Here’s another pool with a fantastic APY. The USDT-RUNE pool has an APY of +22.69%. The pool further has a total liquidity of $4.58M and a total volume of $60.56M. So far, there are about 2.29M pooled USDT and 380.81K pooled RUNE. Additionally, the pool has about 145 members supplying liquidity.
Liquidity providers will receive an APY of +17.62% in the UST-RUNE pool. Users can either provide liquidity in UST or RUNE. The pool has a total liquidity of $35.51M and a total volume of $300.41M. In addition, the UST-RUNE pool’s 24-hour volume is currently at $8.75M. The pool has about 5022 members. Finally, there are approximately 17.74M pooled UST and 2.95M pooled RUNE.
Yield farming is a good way to earn passive income on any DeFi protocol. However, it requires detailed research. Therefore, we often advise investors and users to take the time to conduct additional research before committing their funds.
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