Hey All,
As per coingecko the global cryptocurrency market cap today is $1.09 Trillion, a -3.8% change in the last 24 hours. There is a lot happening on Thorchain from streaming swap to lending and then introducing new @THORChain Savers Vaults: $USDT, $BUSD & $USDC (Ethereum & #Avalanche) on THORSwap
If you have $BTC you can earn more BTC with Savers Vaults at an APR above 2%. THORChain Savers Vaults allow users to earn yield on native assets permissionless-ly without price exposure to any other asset.
Savers Vaults are a pivotal innovation for THORChain and the first decentralized product to offer yield on native Bitcoin, and many other native assets.
What is a Savers Vault?
In very simple term - Savers Vaults are a new, permissionless, open-source, and self-custodial solution for users who want to provide single asset liquidity on THORCHain. This allows users to to earn yield on native assets without price exposure to any other assets, including RUNE. At present Savers Vaults are now available for every Layer 1 asset on THORChain: BTC, ETH, BNB, BCH, DOGE, LTC, ATOM, and AVAX. Lets take an example here to better understand Savers Vault.
- User deposits native L1 Ethereum, ETH
- ETH is added as liquidity in the Savers Vault, contributing to the pool’s depth
- Swappers pay fees to make trades on the network
- A portion of the fee is distributed to Savers after each swap
- Savers can leave at any time by sending a small transaction with their L1 ETH address
To be honest, I haven't tried the Saver Vault for now. As I would not like to swap the $RUNE that I am HOLDing for any other Layer 1 coin for now. Apart from that I think Savers Vault is unique in that it not only allows anyone to earn rewards, but it also gives users full control over their funds, meaning they can connect their non-custodial wallets (no KYC), stake to these single asset staking pools, and earn yield. Deposit ETH or BTC and earn ETH or BTC as that case maybe; it’s as simple as that. I saw the UI as well and its that simple to connect to ThorChain select the Layer1 coin that you want to put in Savers Vault and confirm the transaction and you are all set to earn the Yield as stated for that Layer1 coin.. For now, I'll be monitoring the numbers of the APY on the savers vault and once my target for $RUNE is achieved will think to redirect some funds here on the vaults on ThorChain.... cheers
Have Your Say on Thorchain - $RUNE - DEX - Saver Vault?
Are you invested in $RUNE? Did you hear about this news on THORFi Lending, Savers Vault? Tried Savers Vault? Can $RUNE hit $5+ mark from here? Are platforms like @Lends_so, @BrokkrFinance, @THORSwap fully DEX? Can we consider funds on these platforms SAFE? Are they PURE DEX as claimed? Would love to hear your thoughts around it in the comment box below? Cheers
$RUNE up and the entire Crypto Market is down -3% - Savers Vault on ThorChain...
#dex #thorswap #rune #thorchain #decentralization #deflationary #lending #savers #vault
Image Credits:: thorchain, coingecko, medium
Best Regards