About THORSwap

THORSwap is a decentralized exchange (DEX) that supports multiple blockchains by utilizing the THORChain network. THORSwap acts as a front-end user interface to perform cross-chain swaps done in a permissionless, trustless, and non-custodial manner.

Although multiple DEX interfaces exist that use the THORChain network, THORSwap is definitely the most recognized one and is also responsible for a majority of the trading volume on THORChain.

THORSwap currently supports 20+ different crypto assets across six blockchains (Bitcoin, Ethereum, Binance Chain, Bitcoin Cash, Litecoin, Doge and THORChain) on THORChain’s MCCN.

THOR Token

THORSwap’s Native THOR Token

THORSwap introduced its own native token $THOR in November 2021 and the team called it “a crucial step in THORSwap’s evolution” as $THOR acts as a governance token, utility token, and proof of membership.

The THORSwap team defined the following principles for its token:

Reward the Community: THORSwap started as a community effort and THOR will help to align a large group of engaged and proactive community members Facilitate community-based decision making and coordination through decentralized governance Build a sustainable revenue model which then accrues to the community Increase user loyalty through various incentives like airdrops, members-only access, trade mining and trading fee discounts

THOR has a maximum supply of 500,000,000 tokens, emitted over four years. 50% of the total token allocation have been reserved for community incentives.

Introduction

THOR Staking

• $vTHOR token:
  Stake $THOR tokens to receive $vTHOR tokens, a composable and transferrable representation of your staked $THOR position.
• Additional Staking Rewards:
  Legacy Staking Rewards came purely from emissions of the Community Incentives. Staking 2.0 Rewards are a culmination of Community Incentives emissions plus 75% of all THORSwap revenues.
• Auto-compounding Staking Rewards:
  Staking 2.0 now features automatic compounding — your staking position will receive daily rewards and auto-compound without any user action. You no longer need to repeatedly claim and re-deposit, saving you gas and helping you to earn more rewards.
• Trading Discounts:
  THORSwap users holding $vTHOR will be entitled to Exchange Fee discounts. To celebrate the launch of $vTHOR, for a limited time, THORSwap Exchange Fees will be 100% waived for everyone staking $THOR + holding any amount of $vTHOR!

Thor Staking start on May 4th and Volume of Thor stake reached 15.7M in first day. After that the trend of thor stake volume has been declining.

After The Thor staking start the trend of price of Thor has been declining and it show staking it has not had a good effect on the price.

In first days of start stake the swap volume of THOR was growed. one of the main reasons is that users buy THOR to stake it and makes the volume increase.

After May 4th the type of transactions of THOR was not change and continued the previous procedure.

Conclusion

Let see what happened for THOR token after starting STAKE:

• Its price trend went down.
• Its swap volume increased by nearly 70%.
• The type of transactions has not changed.

Thanks for reading

All data used are from Flipside Crypto.
My Twitter :Sepehrmhz8.