With native cross-chain trading and very attractive Bitcoin APYs, Thorwallet this Christmas offers an easy-to-use UI with all the trimmings
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 examine Bitcoin and Ethereum as major investment assets, but decentralized financial solutions have also become important forces to be reckoned with; By bringing financial inclusion to millions of unbanked people around the world, DeFi products enable people everywhere to unlock new and independent sources of income as the global economy continues to grapple with the impact of COVID-19.
Looking at blockchain infrastructure, several popular blockchains have grown in recent months, both in terms of capabilities and ecosystem size; THORchain is one such example and, having steadily expanded its reach within the industry, the Cosmos-based blockchain protocol is today home to a series of exciting projects offering a multitude of crypto and DeFi services.
THORWallet pushes the envelope for DeFi 2.0 products
One of the many innovative solutions being built on THORchain is THORWallet, a non-custodial wallet that seems to suit both DeFi power users and regular consumers with 2 separate mobile applications available to the public. Both THORWallet products offer feature-rich user experiences and DeFi exposure, with multi-chain savings accounts, liquidity provisioning capabilities, and synthetic asset trading, just some of the many things on offer; the retail-focused app removes some of the more complex features of the THORWallet application, but continues to expand access to a vast majority of the benefits on offer.
THORWallet is built to complement the cross-chain functionality of THORchain and users of the THORWallet app can exchange Layer 1 tokens such as Bitcoin and Ethereum in a fully decentralized manner without intermediaries. This vastly improves on the swap options available on many other popular blockchain platforms that offer packaged assets only, preserving the original assets. By doing so, THORWallet can also provide users with a way to earn returns on their Bitcoin while maintaining full custody of their assets at all times.
Past Funding and Upcoming MISO IDO
The THORWallet team has successfully raised more than $3.4 million in 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 the operation of nodes and as a tool for gamification and community incentives such as airdrops, as well as unlocking premium features for holders.
Having already completed the first phase of their public token sale on THORStarter, which sold out in just over a minute, phase 2 of the public token sale will take place on Sushi MISO on December 20, 2021. Token holders can currently wager their TGT, with fees for unilateral stakes of 800% and 1200% respectively for eth-tgt pooling.
“We are grateful to have received significant interest and support from both renowned funds and the public and are excited to open the doors to future THORWallet users with the upcoming MISO IDO. The THORchain ecosystem continues to grow rapidly and we are proud to be one of the projects driving that growth.” – Marcel Harmann, co-founder and CEO of THORWallet.