DEXs (or decentralized exchanges) allowed users to trade crypto assets in a decentralized, non-custodial manner, upholding the values that make cryptocurrencies valuable.But these DEXs have been limited to serving single blockchain ecosystems. For example, UniSWAP is built on top of the Ethereum blockchain and is limited to trading tokens built on the Ethereum blockchain. It does not support other blockchains, such as Bitcoin, Litecoin or Bitcoin Cash.
In order to solve all these problems, THORChain appeared. Through THORchain, users can trade cryptoassets across different blockchains without going through centralized, custodial intermediaries, or being restricted to only one blockchain. On THORchain, assets such as BTC, ETH, LTC, BCH, and BNB can be natively swapped.
The article shows how those 6 assets swapped on THORchain and the average size of the swaps taking place on multiple Blockchains on THORchain.
We can see from the below graph that Ethereum and Bitcoin have higher average swaps than other blockchains. We can see that a low average swap amount is associated with LITCOIN while a high average swap amount is associated with Ethereum.
Comparing the swapped transactions on different Blockchains in the past 30 days, we see that the BNB Blockchain has had a greater number of swaps than other blockchains. It is interesting to note that even though there are more transactions on the BNB Blockchain, the swap average for it is in 4th place. ETH has the highest swap average followed by BTC in 2nd place, then THOR on 3rd place, then BNB, and BCH and LTC in succession. Accordingly, the majority of average swap amounts are handled on Ethereum and Bitcoin blockchains, with THOR Blockchain following after them.
This graph shows the average daily swapped amounts across all blockchains for the past 30 days.
From the below graph, we can see the daily average swapped amount across all blockchains. An increase in swapped amounts is visible on the THOR blockchain following Bitcoin and Ethereum.
After the Launch of $THOR token, we will have a Thorstarter IDO, and once you are a member of the DAO you may participate in the IDO on IDO day and receive $THOR tokens. I also assume that the THOR swaps will be increased after November 1,2021.