Pool Ranks On THORChain After ‘TERRA’ Launch

With THORchain, users will be able to exchange tokens from various networks, including Bitcoin and Ethereum, with tokens from other networks. To trade cryptos, such as Bitcoin and Ethereum, traders and investors use decentralized exchanges, which are unable to facilitate the operation on native networks.As a result of its interoperability, THORChain enables users to directly exchange different cryptos without ever leaving the protocol and without requiring the use of any intermediaries. By depositing cryptos into the THORchain decentralized exchange, users can earn a yield on their money. Users can also borrow cryptocurrency within minutes.

THORChain – Liquidity Pool

On THORChain, swapping is made possible by “liquidity pools” – static pools of cryptoassets other users deposit into the network by granting permission to “liquidity providers”, otherwise known as “LPs”, to trade against,by offering LP fees and block rewards in exchange for yield on their assets. With THORChain, every swap incurs a small LP fee that is then split among the LPs based on the amount they have contributed to the pool.

Additionally, the THORChain protocol distributes a percentage of newly generated $RUNE tokens to LPs as part of its regular payout process. For users who wish to earn yield on their otherwise unproductive crypto assets, the combination of LP fees and block rewards provides ample incentive.

Terra has been Launched on THORchain from March,2022. From the below tweet we can see the about the launch of Terra on THORchain .

From the below graph, you can see the different pools of Thorchain and their TVL since February 2022. Additionally, we can see Pools TVL by their ranks on a weekly basis.  

This shows that BTC pool has always been ranked number one over time. ETH pool is in third place, while DOGE pool is in fourth place. BNB pool is in second place. On the other hand, since March 20th, Terra has gained an account and TVL began to fall to second place. Since the 13th of March 2022, the ranks of BCH and LTC will be swapped. In other words, they changed their rank from 5th to 6th (BCH), and 6th to 5th (LTC).

Apart from BCH and LTC, all other pools maintain a consistent growth of their TVL value. It is only known that from the 13th of March 2022 onwards, the ranks of BCH and LTC will be swapped. The rank changed from 5th to 6th (BCH), and 6th to 5th (LTC).

From the above analysis, we can see that the highest TVL is maintained by the BTC pool and the lowest TVL is maintained by the BCH pool since Feb 20,2022. A TVL of TERRA pool maintains the second rank position since March 2022. Additionally, TERRA pool ranks second in its TVL after its launch on the THORchain network, proving its consistency. 

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