Review on THORChain by erdi yılmaz
About THORChain
THORChain is a decentralized network with cryptocurrency tradable and liquidity pools.
It works with all cryptocurrency units. Transactions on the network are paid in RUNE tokens. RUNE has been developed on the BEP2 network.
There is a direct conversion between cryptocurrencies. Liquidity pools are used to simplify swap transactions. Investors provide liquidity to pools and earn staking income.
A RUNE must also be staked for each cryptocurrency provided to the pools. The fees of the swap transactions are divided between the liquidity providers according to their staking amounts. In problematic transactions on the network, the tokens that are staked by the people who make the transaction are burned.
Pros
- Its ability to work integrated with all networks makes it one step ahead of its competitors.
- Allows users to earn more than 120% annually through liquidity mining
- Listed on major exchanges such as Binance and FTX
- It is both a fast and highly scalable network
Cons
- Decentralized exchanges are always risky
