THORChain Launches Mainnet Supporting 7 Different Blockchains
Started to develop around 2018 as a cross-chain project, however, THORChain is somewhat limited compared to projects in the same segment when it only allows users to support the conversion of certain assets such as Bitcoin (BTC) or Ethereum (ETH), and especially the platform has yet to make it to the mainnet.
The chain has made significant progress with the successful migration of its previous network to the mainnet, now extending support between seven major ecosystems including Bitcoin, Ethereum (ETH), BNB, Dogecoin (DOGE), Litecoin (LTC), Bitcoin cash (BCH), and RUNE.
Besides, the developers also said that THORChain will soon integrate more Cosmos (ATOM) and Avalanche (AVAX). Additionally, the focus of the protocol after the mainnet launch will be on integration with multiple DEXs and liquidity aggregators.
THORChain’s previous network, ChaosNet, was released in April 2021 and has been the subject of past multi-million dollar hacks on the platform. Even so, ChaosNet recorded around $9.2 billion traded across 3.4 million swaps from around 71,000 unique traders. Not only that, ChaosNet helped THORChain earn nearly $80 million in fees.
While the introduction of the mainnet will not necessarily bring about any fundamental changes to the way the protocol works other than fewer bugs, stability, and network security, the mainnet will provide important changes to how the project is managed and approved and marks the evolution of THORChain into a full-fledged network.
At press time, RUNE is up 13.67% and is trading around $2.26 prior to this news.
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