Thorchain has announced the upcoming integration of XRP in the mainnet of the protocol and offers enormous benefits to XRP and Rune holders.
The decentralized liquidity platform shared in a tweet On Tuesday, April 29, that XRP -Swap will come to its protocol. The long -awaited integration will bring decentralized finance (Defi) presence to XRP, using Thorchain the enormous trade volume of XRP.
Integration much larger than you think
Thorchain is a decentralized cross-chain liquidity provider that makes seamless swaps in supported networks possible without trusting centralized fairs or packaged tokens. The platform bridges exchanged between Bitcoin, Ethereum, BNB and five other assets.
On April 11, the network announced that XRP -Waps are now live on Stagenet, the TestNet. Thorchain revealed that it would make the third largest Cryptocurrency from Market Cap, the next active that is available for decentralized trade on the protocol, planned for May with Mainstet integration.
In particular, the integration, led by Strangelove and Thorchain’s core developers, nine rich, introduces native, non-cheating swaps for XRP holders. This allows users to exchange the token for other supported coins on the platform directly through self -wide portfolios and without the need for centralized fairs or packaged tokens.
Moreover, the announcement emphasized the importance of this support for both chains. Firstly, XRP is in third place under tokens in the cryptomarket with the highest trading volume. With an average daily liquidity of $ 2 billion, the massive volume would lead to increased swaps, which in turn could strengthen the protocol generation costs and yields for the Thorchain ecosystem.
As a result, the addition will result in a better Defi -Negeness for XRP, which has controlled most of his trade by centralized fairs. Moreover, it will spell the end of the packing, synthetic derivatives and intermediate storage solutions for XRP -waps.
Extra Defi functionalities for XRP
Interestingly, Thorchain teased that integration would also determine the pace for Defi functionalities for XRP. It shared that the support lays the foundation for the expansion of the Rujira network, an application built on top of the Thorchain.
The Rujira Alliance offers specific functionalities, including freely available (OTC) trade, interoperability and Defi functions. In the meantime, Thorchain suggested that the integration of XRP could ultimately lead to the introduction of native loans, eternal trade and spot order books for the holders of the Activum.
A lack of native Defi functionalities on the XRP whides in particular has been a pain for XRP enthusiasts. While ripple go To change this story with the imminent new programmability, protocols such as Glow have also taken the initiative to offer Defi functions to XRP holders.
