THORChain Surges on Expected Terra Integration and DEX Project

Blockchain protocol THORChain

Blockchain protocol THORChain has recorded a 26% daily gain, and 51% jump in the past week amid expected Terra integration and a DEX launch.

The cross-chain protocol is planning to add support for Terra blockchain, onboarding LUNA and UST stablecoins for token swap on THORChain-powered chains.

Terra integration is expected to enable the chain to support other networks built through Cosmos SDK.

The rise on THORChain is also due to a positive sentiment from the anticipated launch of DeFiSpot, a DEX based on the layer-one chain.

A team with the objective of bringing institutional liquidity to THORChain, Nine Realms, notes that Terra’s integration has been finalized and that developers were working with SCV to verify it before launch.

THORChain allows users to directly swap assets from one blockchain to another without channeling them through a bridge or a decentralized exchange.

The protocol supports six blockchains maong them Litecoin, Ethereum, and Dogecoin. Its native token RUNE is currently exchanging for $5.52.

Source: Cryptobriefing

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