Thorchain offers us the solution we’ve been asking for: a truly decentralized swap exchange that utilizes smart contracts. That’s a mouthful and needs some unpacking, so let’s dive into it.
This is my 506th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!
In this video I go through using https://sideshift.ai/ which is fantastic, but still not as secure or fast as https://app.thorswap.finance/. This offers you the ability to trade between chains for the first time in decentralized way using smart contracts. While it has much fewer coins, it’s adding more all the time and is very promising. You can invest in its growth so to speak with the Rune token and use it for liquidity etc. I’m mainly just interested in the interoperability this offers provided by the ThorChain blockchain.
It's as simple as connecting with your wallet of choice and then choosing one of the available cryptocurrencies to trade.
You can currently trade Doge, LTC, BTC, BNB, ETH, BCH, RUNE, and several BEP20 and ERC20 tokens. They are working on Luna right now and Monero is the next big coin to be added.
It's a pretty amazing thing that after going from centralized exchanges to exchanges without KYC to swap exchanges that are centralized to decentralized swap exchanges with smart contracts that are on one chain to now finally cross chain swaps.
Have you ever used ThorSwap or invested in Rune? Is there a better decentralized exchange than ThorSwap? What’s your go to decentralized swap exchange? Do you care if a swap exchange uses smart contracts or not? Let me know what you think about this in the comments below and don’t forget to subscribe!
*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*
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