THORChain, a non-custodial decentralized liquidity protocol that enables decentralized exchanges (DEXs) and users to seamlessly transfer their digital assets across blockchains, has integrated support for Avalanche, which claims to be the fastest smart contracts platform in the blockchain industry, “as measured by time-to-finality.”
Avalanche considers itself to be “a pioneer in the decentralized finance (DeFi) industry, with over ~$1.59 billion in total value locked on the network.”
The integration “enables users to seamlessly swap the Avalanche native token, AVAX, and Avalanche C-Chain ERC-20 assets for BTC, ETH and other THORChain supported assets without the need for bridging or wrapping tokens.” The aggregator integration directly connects the THORChain DEX aggregator and the Avalanche ecosystem “via Pangolin Exchange, a premier community-driven DEX.”
Chad Barraford, Technical Lead at THORChain commented:
“We’re excited to make another step towards the multichain, through our integration with Pangolin. Pangolin is a leader in decentralized liquidity in the Avalanche ecosystem and by joining forces we can power a stronger, open and frictionless ecosystem of cross-chain financial services.”
The collaboration “has significant benefits for the broader Avalanche and DeFi ecosystem, enabling immediate access to USD Coin and Tether for users, all while retaining full custody of their funds.”
By connecting these industry leading base layer protocols, users can “benefit from increased liquidity and native swaps across a range of long-tail assets.” In the coming weeks, Pangolin Exchange will “integrate its own aggregator to further add over 3,000 token pairs.”
Justin Trollip, CEO at Pangolin Exchange commented:
“The integration of the THORChain DEX aggregator and AVAX is the first step in unifying two major community-driven projects dedicated to decentralizing liquidity, and broadening the access, usability and efficiency of decentralized financial services. Pangolin always looks to partner with the most innovative projects within Web3, So it was important that we introduced the settlement utility of THORChain’s native token, RUNE to the Avalanche ecosystem, allowing us to build features that are unheard of in DeFi.”
THORChain successfully “transitioned to mainnet in June marking a major step forward in securing a multichain future where transparent, interchain asset transfer is seamless and user-friendly.”
The network “integrated support for ATOM earlier this year, enabling users of Cosmos based inter-blockchain communication (IBC) chains to transfer assets across THORChain supported blockchains.”
As noted in the update, THORChain is “a non-custodial decentralized liquidity protocol that enables decentralized exchanges (DEXs) and users to seamlessly transfer their digital assets across blockchains.”
By enabling anyone in the world “to exchange native assets (BTC, ETH, BNB, BCH, LTC, DOGE) across multiple chains via pairings with THORChain’s native token, $RUNE, THORChain provides the freedom to trade cross-chain.”
Maintained entirely by the community, THORChain “unlocks the true power of decentralized finance (DeFi), allowing users to quickly and easily swap assets that are not supported by any other DeFi protocol.”
THORChain claims it is “the only network to facilitate decentralized swaps from networks without smart contract capabilities like Bitcoin, Dogecoin, and more without compromising user security or self-custody.”
Using THORChain, any DEX can “integrate native cross-chain swaps and any user can take advantage of the full suite of capabilities.”