THORChain (RUNE) displays momentum following lending protocol launch

August 21, 2023 07:31 AM PDT | By Invezz

THORChain (RUNE) displays momentum following lending protocol launch — Image source: Invezz

THORChain’s lending protocol & Streaming Swaps

Streaming Swaps on THORSwap breaks cross-chain trades into smaller and more manageable parts that users can execute over an extended duration. Previously, performing many manual swaps catalyzed low slippage, welcoming increased gas charges and complexity.

That has been a challenge in the decentralized finance sector. Meanwhile, Streaming Swaps allow users to complete a transaction sent to the THORChain platform to attain the best prices and streamline the process.

THORChain’s lending protocol

While Streaming Swaps implementation enhanced THORChain’s appeal, the project recently announced the much-anticipated lending protocol. The new functionality allows users to borrow Bitcoin and Ethereum with no interest while ensuring decentralization.

Unique collateralization makes THORChain’s lending protocol one of the best in the marketplace. The platform converts loan collateral to RUNE coins before burning the difference between the loan amount and the collateral value.

This approach alleviates the need for interest or liquidation, matching THORChain’s vision of user empowerment and heightened decentralization.

RUNE price outlook

While RUNE enjoyed an impressive upside over the past seven days, its lost 7.5% in its daily chat. The altcoin’s 24hr performance mimics the deteriorated mood in the overall crypto space. Nonetheless, the lucrative weekly performance leaves RUNE 18% higher on the 7-day chart.

However, RUNE’s dip within the past day shows fading investor interest following its recent launches. THORChain’s price action indicates the buy rumors and sell news narrative.

The post THORChain (RUNE) displays momentum following lending protocol launch appeared first on Invezz.

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