$2.63
1H
1.88%$0.0485
24H
6.66%$0.1642
7D
-11.5%$0.3424
30D
-65.0%$4.89
THORChain describes itself as a decentralized liquidity network that allows users to swap assets instantly at manipulation-resistant market prices. Swaps are done through permissionless cross-chain liquidity pools that allow users to stake their assets to earn trading fees. Traders can monitor pool prices and earn by arbitraging back to fair market prices. Projects can reportedly stake their treasuries to give their tokens deep liquidity.
However, this being the digital age, tokens like THORChain (RUNE), PancakeSwap (CAKE), and Calyx Token (CLX) are being created to make investing in new projects more accessible, safer, and more profitable.
DeFi tokens are from ecosystems that want to bring decentralized finance to the masses via a connection of decentralized applications and projects.
Trading and staking competitions might not make you rich, but they can supplement your main income while providing an incentive to try out new exchanges.