THORChain, an open-source protocol that enables the swap and settlement of cross-chain native crypto assets, and ShapeShift DAO, are pleased to showcase the recent launch of rFOX and Rune Pool as supporters of Rare Evo.
ShapeShift DAO was reportedly the first major decentralized exchange (DEX) to “integrate the THORChain protocol. ShapeShift offers a unified wallet and trading platform.”
Its FOX governance token gives holders “a voice in the protocol’s direction, plus discounts on protocol fees.”
Over the past month since its launch, rFOX stakers have “been accumulating native RUNE (THORChain’s protocol token) rewards for all monetized ShapeShift THORChain trading volume.”
JonisJon, who originally proposed the rFOX feature:
“rFOX is a major cross-chain community-driven upgrade to FOX tokenomics and I am thrilled to see it come to fruition! There are not many opportunities to earn native RUNE yield in a single-sided manner, and now it will be as easy as staking FOX in order to earn RUNE. This native ‘real yield’ adds significant power to the FOX token and I am excited to see what tokenomic upgrades the community builds on top of this foundation. The ShapeShift DAO continues to evolve through decentralization and community engagement, and I can’t wait to see where things go next.”
Having integrated the recently released THORChain RUNE Pools, users can “both earn native RUNE and start to earn single-sided yield on it.”
RUNE Pool is integrated “across THORChain’s Protocol-Owned Liquidity (PoL)-enabled pools such as Bitcoin, Dogecoin, Litecoin, Ethereum, and others.”
This enables depositors to earn rewards “on their RUNE while participating in the aggregate performance of the cross-chain blue-chip liquidity pools.”
Users can easily connect their wallet “at app.shapeshift.com, navigate to the Earn tab, and begin staking RUNE through THORChain Savers to earn rewards.”
Julia Love, Brand Ambassador for THORChain said:
“We’re excited to debut these innovative ways to earn RUNE yield hrough the launch of RUNEPool and the cross-chain rewards distribution during Rare Evo. RUNE Pool plus the rFOX RUNE rewards on ShapeShift offers a compelling flywheel for users to earn RUNE rewards across diverse liquidity pools within the THORChain network without the need to pair it with another token—all while enhancing both security and liquidity of THORChains network.”
As noted in the update, THORChain is an open-source blockchain protocol that “enables the swap and settlement of cross-chain native assets directly from self-custodial wallets.”
It eliminates the need for centralized exchanges and third-party KYC “to reduce friction, risk, and costs while allowing users to maintain control of their assets.”
THORChain currently “supports Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos Hub, Dogecoin, Bitcoin Cash, and Litecoin.”
It is secured by its native token, RUNE, which “deterministically accrues value as more assets are deposited into the network.”
Anyone can use THORChain to swap native assets “between any supported chains or deposit their assets to earn yield from swaps.”
Developers and contributors from around the world are “building a growing number of apps, wallets, tools, and resources in the THORChain ecosystem.”
As covered, ShapeShift, founded in 2014, is “a DeFi platform that provides a seamless, secure interface for trading and managing digital assets across multiple blockchains.”
Powered by THORChain and other leading DEX’s “such as CoW Protocol, LiFi, and others, ShapeShift offers users an optimal aggregated DeFi experience with features like zero-interest lending, non-custodial trading, LPing, and streaming swaps on top of an easy-to-use portfolio interface.”
ShapeShift is dedicated to empowering users “to maintain full control over their crypto assets while navigating the rapidly evolving multichain landscape.”