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Thorchain Introduces Lending On Its Blockchain

Twitter icon  •  Published il y a 8 mois  •  Hassan Maishera

The Thorchain team announced via a Medium post on Monday that it had introduced lending on its blockchain.

The Thorchain team announced via a Medium post on Monday that it had introduced lending on its blockchain. This means that users can lend their native Layer-1 assets, such as BTC and ETH, to THORChain and borrow a USD-denominated debt with no liquidations, no interest, and no expiration.

Loans have a minimum period of 30 days. Borrowers can repay their debt at any time after 30 days and receive their collateral back, the Thorchain team added. At the moment, lending is available for ETH and BTC collateral. However, the team said lending would soon be opened to all Layer 1 gas assets supported on THORChain (BNB, BCH, LTC, ATOM, AVAX, and DOGE). 

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 up by 1% so far today and is currently trading at $1.717.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.