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What Are THORSwap and THOR Coins?

2023-04-20 13:00:18

ThorSwap and Thorchain are decentralized exchanges based on the Thorchain network, however, they fulfill distinct functions. Thorchain is a cross-chain decentralized liquidity network that allows users to swap cryptocurrencies across different blockchains without the need for intermediaries while ThorSwap is a decentralized exchange built on the Thorchain blockchain. Thorswap allows users to trade cryptocurrencies in a decentralized and non-custodial manner.

In this article we will discuss Thorswap, Thorchain and Thor coins, we will also briefly discuss the history of Thorswap, and how and where to buy Thor coins. Additionally, we will address some frequently commonly asked questions such as Thorswap price history and Thorswap market capitalization.

What Are THORSwap, THORChain, and THOR Coins?

THORSwap

THORSwap is the leading multi-chain decentralized exchange powered by THORChain. The THORSwap decentralized exchange aggregator combines liquidity across several blockchains and compares pricing from multiple aggregators to provide users with the best cross-chain swap.

what is THORSwap

THORSwap leverages THORChain's cross-chain liquidity protocol to provide liquidity for over 25 crypto assets on layer-one blockchains.

THORSwap.finance is THORSwap's decentralized exchange interface to THORChain's cross-chain liquidity, allowing anyone to trade native assets in a decentralized manner and provide liquidity.

The THORSwap dashboard displays several crucial indicators for the THORChain, including trading volume and liquidity over time as well as TVL, total liquidity, total active bonds, total volume, 24H volume, total pooled RUNE, and liquidity APY.

THORSwap dashboard including trading volume and liquidity

The application allows traders to swap more than 20 different crypto assets across seven different Layer One Blockchain.

THORChain

THORChain is an autonomous blockchain that functions as a Layer 1 cross-chain decentralized exchange. THORChain, built with the Cosmos SDK, provides non-custodial asset trading between many blockchains. Many user interfaces use THORChain as their backend.

THORChain Features

  1. Ability to efficiently swap Layer 1, or native, assets across multiple chains. For example swap native BTC to ETH.
  2. Non-custodial and anonymous. No user registration required, simply send a transaction and THORChain will execute it.
  3. THORChain doesn't wrap assets, all assets are natively secured.
  4. THORChain is transparent and has low transaction fees.
  5. THORChain is completely decentralized, it doesn’t rely on centralized third parties.
  6. THORChain has continuous liquidity pools that maximize the efficiency of the protocol.

THORChain was built to provide a scalable, economically secure cross-chain communication and settlement layer. THORChain is trusted and used by many decentralized exchanges to perform swaps and other transactions for their users.

THOR Coin

THOR Coin is the governance and utility token for the Thorswap platform. THOR holders can vote on proposals related to fee structures, new features, and upgrades. They can also provide liquidity to Thorswap's pools and earn a share of trading fees through liquidity mining. 

THOR is used as a trading pair asset on the Thorswap platform, allowing users to trade cryptocurrencies against it. THOR is crucial to the governance, liquidity provision, and trading of the Thorswap platform.

A Brief History of THORSwap (THOR)

THORChain is a decentralized liquidity network that facilitates cross-chain swaps in a non-custodial manner. THORSwap, a DEX that launched in April 2021, is built on top of THORChain. Its native token, THOR, serves as the platform's governance and utility token. 

THORSwap enables users to trade cryptocurrencies from different blockchains without an intermediary. The platform's mission is to offer a swift, secure, and transparent trading experience. 

Cryptocurrency traders have embraced THORSwap for its distinct features and commitment to decentralization and transparency. The THORSwap team is continually enhancing the platform to increase its capabilities and provide its users with a seamless trading experience.

How to Buy THOR Coins step-by-step?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including THOR, users can now trade easily and seamlessly. Here's a guide on how to buy THOR on CoinEx.

  1. To access CoinEx's services, register for an account by clicking "Register". Existing users can log in.
  2. After logging in, deposit funds into your CoinEx account using one of the supported cryptocurrencies or deposit methods supported by the exchange.
  3. After depositing fiat or cryptocurrency, go to the THOR trading page, choose a trading pair, and specify the amount of THOR to purchase.
  4. To buy THOR tokens, choose the appropriate trading pair, specify the desired quantity of THOR, and trade the paired token for THOR.

THOR FAQs

THORSwap Price History 

The price history of THORSwap has been volatile for the past few years since its launch. THORSwap reached its highest price on November 2021 when it was trading at an all-time high of $ 3.05, and its lowest price was on November 2022, when it traded at an all-time low of $ 0.081492. The lowest price since its all-time high was $ 0.081492. (cycle low). The highest THOR price since the last cycle low was $ 0.392229 (cycle high). 

As THORSwap cryptocurrency grows in popularity and is listed on additional exchanges, its value is expected to rise in the next few years.

THOR Coin Supply

THORSwap (THOR) has a max supply of 500 million THOR coins. THOR supply of 500M means that there are 500 million coins in circulation or available for use in the THORSwap network. This is a measure of the total number of coins that will ever be created or mined for THORSwap. The coin supply is an important factor in determining the value of a THORSwap, as it affects factors such as scarcity, market demand, and price fluctuations.

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