Hassan Maishera
On Wednesday, the Thorchain team announced via X that the limit orders have landed on ThorChain.
CEX traders have had limit orders forever. Traders set their target price, walk away, and come back later to find their order filled. Simple, convenient, genuinely useful.
But that convenience always came bundled with everything traders probably hate about centralised exchanges. They upload their passport. They hand over custody of their assets. Their $BTC sits in their database while their order is open, and they just hope nothing goes wrong in the meantime.
THORChain now does the same thing, minus all of that. With ThorChain, traders submit a swap with a minimum output condition. Something like "swap my bitcoin for USDC, but only if I get at least X amount."
Their funds go into a vault secured by 109 bonded node operators. Every 6 seconds, the protocol checks whether the pool price satisfies its target. When it does, their swap executes automatically, entirely on chain.
If the market never reaches its price, traders get refunded after a few days. No intervention needed, no support ticket, no waiting on a company to process anything.
THORChain is the first decentralized exchange (DEX) to swap Bitcoin and other UTXO chains, with Ethereum, and other EVM chains. All without using wrapped tokens.
THORChain currently supports swapping between 10 different blockchains. Assets available to swap on THORChain include the following:
THORChain is a decentralized cross-chain exchange where traders can swap cross-chain assets via liquidity pools across Binance Chain, Ethereum, and Bitcoin. RUNE is down 2.2% today and is currently trading at $0.3981.
