THORChain developers announced that their cross-chain liquidity protocol has fully integrated the platform’s features for Dogecoin. THORChain’s local DOGE liquidity pool is operational, allowing users to trade their DOGE and earn returns on their DOGE. cryptocoin.com We are giving the details as…
Dogecoin moves to decentralized finance
With the THORChain integration, DOGE holders are provided with decentralized finance (DeFi) opportunities. Thus, users of the decentralized, cross-chain liquidity protocol can now exchange DOGE with other supported cryptoassets and earn returns. For example, DOGE can now be directly traded for native BTC, ETH, BNB, BCH, LTC, various stablecoins and several other BSC and ERC-20 assets via the THORChain liquidity protocol.
Now that the THORChain DOGE pool is open, Dogecoin holders can become liquidity providers and earn net returns on the protocol which helps minimize the risks of users suffering permanent losses. Chad Barraford, technical leader of THORChain, said:
DOGE has been standing firm for years. DeFi, on the other hand, has exploded in other ecosystems. Today, this marks an integration where DOGE can be traded without the need for a KYC (customer-knowledge) procedure. This significantly changes the foundations of existence as both a store of value and a medium of exchange.
THORChain allows users to exchange local crypto assets of various networks or provide liquidity to earn returns on one’s local assets. The protocol does not require a “wrapped” version of coins. The network currently supports five chains: Bitcoin, Ethereum, Binance Smart Chain, Litecoin and Bitcoin Cash. The latest news does not seem to have caused a change in the price of DOGE and THORChain (RUNE).
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.