As Interest in Decentralized Finance Peaks, This Project May Have the Full DeFi 2.0 Package
With native cross-chain trading and very attractive Bitcoin APYs, Thorwallet offers a user-friendly UI with all the trimmings this Christmas
As we near the end of a spectacularly explosive year for the growth of DeFi and blockchain technology in general, both interest and investment in the industry are at an all-time high. Institutions continue to explore the likes of Bitcoin and Ethereum as major investment assets, but decentralized finance solutions have also becoming major forces to be reckoned with; offering financial inclusion to millions of unbanked people around the world, DeFi products are enabling people everywhere to unlock new and independent sources of income as the global economy continues to struggle with the fallout from COVID-19.
Taking a look into blockchain infrastructure, several popular blockchains have grown both in terms of capabilities and ecosystem size in recent months; THORchain is one such example and, having steadily expanded its reach within the industry, the Cosmos-based blockchain protocol is today the home for an array of exciting projects offering a multitude of crypto and DeFi services.
THORWallet Pushes the Envelope for DeFi 2.0 Products
Amongst many innovative solutions being built on THORchain is THORWallet, a non-custodial wallet that looks to pander to both DeFi power users and mainstream consumers with 2 separate mobile applications available to the public. Both THORWallet products offer feature-rich user experiences and exposure to DeFi, with multi-chain savings accounts, liquidity provision capabilities and synthetic asset trading just some of the many things on offer; the retail targeted app strips away some of the more complex attributes of the THORWallet application but continues to extend access to a large majority of the benefits on offer.
THORWallet has been built to complement THORchain’s cross-chain functionality and users of the THORWallet app are able to swap Layer 1 tokens such as Bitcoin and Ethereum in a completely decentralized manner with no middlemen. This improves massively on swapping options available on many other popular blockchain platforms which offer only wrapped assets, keeping custody of the native assets. By doing this, THORWallet is also able to offer users a way to earn yield on their Bitcoin whilst keeping complete custody of their assets at all times.
Previous Funding and the Upcoming MISO IDO
The THORWallet team successfully raised over $3.4 million during private rounds led by THORchain, Fomocraft, Nine Realms, 0x Ventures and several other leading funds in the blockchain investment space. THORWallet’s native TGT multi-utility token serves a variety of purposes within the THORWallet ecosystem such as node operation and as a tool for gamification and community incentives such as airdrops, as well as unlocking premium features for holders.
Having already concluded the first phase of their public token sale on THORStarter, which sold out in just over one minute, phase 2 of the public token sale will take place on Sushi MISO on December 20th 2021. Token holders are currently able to stake their TGT, with rates for single-sided staking sitting at 800% and 1200% for eth-tgt pooling respectively.
“We are thankful to have received considerable interest and support from both reputable funds and the public and we are excited to open the doors to future THORWallet users with the upcoming MISO IDO. The THORchain ecosystem continues to grow rapidly and we’re proud to be one of the projects driving that growth.” – Marcel Harmann, THORWallet Co-Founder and CEO.