Introduction
Exactly a year ago, on 14 April, THORchain was finally made available to anyone with internet access. Since then swapping an asset on a chain, for a different native asset on another chain which was previously impossible, became a dream come true for most crypto enthusiasts.
The journey for THORchain, and its underlying protocol, Chaosnet has not been a rosy one at all. After suffering a series of attacks, THORchain has managed to grind through the dark days and live on to see a year.
A year in crypto feels like a decade because a lot of different things happen and THORchain has been able to move through the highs and the lows. It is time to give THORchain their flowers by taking a dive into growth metrics since inception.
Metrics In Retrospect
In this publication, we will look at the first 30 days of THORchain against the last 30 days. We will simply try to compare the growth that has happened so far within these two periods.
The first metric to tackle is the total number of swaps. From the table below, we can see that 48,696 swaps occurred in the first 30 days as against 550,482 swaps in the last 30 days. There has been a 10x growth in monthly swap volume.
Next, let us look at the swap volume. There was about 90M USD worth of volume moved on THORchain in the first 30 days. In the last 30 days, there has been a whopping 2.4B USB worth of volume moved so far.
Now, we will look at the total value locked (TVL) in the THORchain ecosystem. At the end of the First 30 days after launch, there was 148,250,855 USD in (TVL). And at the time of this writing, the TVL locked stands at 1B USD. A jump in three digits!
Now let us look at how the number of pools has grown since THORchain began. In the first 30 days, there were only 15 pools. Now there are 26 pools representing about a 90% increase.
Now let us look at the number of supported chains. In the first 30 days, there were 6 chains initially supported. Now, there are two new chains, in addition, making 8 supported chains in total.