Thorchain has launched the first cross-chain DEX, with native assets on 6 different chains all able to be pooled or swapped. This event has been years in the making, and the first moments of activity seem to be running very smoothly. The network actually started a few days ago, in a "closed" manner for the team to test and slowly get things started, and just opened up to the wider community.
Launch Party.
Currently, there is a launch party underway on Clubhouse and YouTube.
You will note that high profile people on the launch panel include 3 Shapeshift panel members. Shapeshift have already implemented Thorchain, and are moving their business from being a swap Cex, to being a interface to DEX's, with Thorchain at the forefront of its new business model. C.E.O. Erik Voorhees stated that he has been looking for a while at finding a way to move away from being a Cex, with KYC and all the regulatory restrictions, to being a Dex, and had the same feeling when he learned about Thorchain that he got when he first learned about Bitcoin.
It works:
Aside from Shapeshift there is also currently 2 interfaces launched to manage your Multi-chain Chaosnet activity. The above image is from Asgardex, and there is also Thorswap which has a very familiar feel for anyone that has used Bepswap previously.
Initially, there are liquidity caps in place, and the rewards are quite low for LP's and nodes. These will scale up over the coming weeks as the network stabilizes, and any potential bugs are ironed out. It is not urgent to move your liquidity from Bepswap over, incentives will slowly increase for native Rune and the MCCN network, and gradually decrease for Bepswap LP's. No rush.
Is it too late to start?
Short answer is: NO.
Long answer is: HELL NO.
Thorchain is just getting started, Multichain has only just launched, and for the first time, native Bitcoin now has access to a truly decentralized DeFi protocol, and there is so much more still to come from Thorchain.
There is not really much more to say, Multichain Thorchain is alive, launched and running smoothly. It will gradually scale up over time. In my opinion, this is the biggest event in crypto for quite a while, and will reshape the landscape for years to come. RUNE is around $13 at the moment. Many are asking if it will sell off now on a "buy the rumor, sell the news" type sell off. I think it most definitely will not, MCCN is hugely bullish for RUNE and I fully expect it to be a $100 token at some stage this year. Long term, RUNE will be a top 5 crypto, maybe this year, maybe not.
If you need more info about Thorchain, check this feed and scroll back along all the Thorchain related content that has been created on LeoFinance.
Thanks for reading, congrats to everyone that has invested in Thorchain and RUNE, and here is to a decentralized, cross chain future.
Cheers,
JK.