Thorchain (RUNE) is now live.
“Multichain chaosnet is now live to the public, ASGARDEX released,” announced the team on Tuesday.
The blockchain for decentralized cryptocurrency trading has been in the making for three years and finally amidst the bull run of 2021, it has been launched. The Multichain chaosnet (MCC) basically enables cross-chain swaps between Bitcoin, Ethereum, Bitcoin Cash, Litecoin & Binance Chain networks.
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In response, its token RUNE also surged to $12.90. The three billion dollar market cap crypto is up 880% YTD.
For the time being, the team has advised against rushing to upgrade to native RUNE or sending large amounts of assets to the wallet for swaps, adding “there is ample time.”
Much like popular DEXs Uniswap, SushiSwap, and Bancor, Thorchain is an automated market maker (AMM) with one big difference: it enables the trading of cryptos from other blockchains without being “wrapped” in their real versions and not synthetic.
“CEX is great, but have you ever experienced a chain-agnostic bridging protocol enabling trustless and secures value-transfer connections with most other chains… Enter Thorswap powered by THORCHain,” tweets the team.
MCCN is live now
https://t.co/9Y7iy4aq44#THORCHAIN $RUNE pic.twitter.com/5WqjrNkAJM
— THORSwap #BRINGTHECHAOS
ᚱ (@thorswap) April 13, 2021
Thorchain is a native cross-chain decentralized exchange (DEX) that boasts of being the “first and only protocol” to swap assets between different chains in a non-custodial setting without pegged or representative assets.
The network is secured by node operators who underwrite pooled liquidity provided by yield-seeking asset holders. For now, there are liquidity caps, but over time, they will be increased.
Over the coming weeks, the team plans to add more features such as synthetics which are secured base layer assets, composites like THOR.USD, THOR.DEFI, loans, and more chains.
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