THORSwap decentralised THORChain-based exchange raises $3.75m

THORSwap decentralised THORChain-based exchange raises $3.75m

THORSwap, a THORChain crosschain-based exchange, has raised $3.75m in a private tokenseal led by IDEO CoLab Ventures.

.@IDEOVC, @trueventures and @SanctorCapital invest in @THORSwap, one of the 3 projects that recently graduated from #sanctorturbo’s YC for crypto projects. THORSwap is the first multi-chain exchange using the @THORChain protocol and it has a desktop app too! 

True Ventures, Sanctor Capital, THORChain, Nine Realms, Proof Group, 0xVentures, Qi Capital and others also participated in the tokenseal.

THORSwap will use the funds to scale the platform, launch new products and expand its decentralised liquidity network.

DEX supports bitcoin, Bitcoin Cash, Litecoin, Ethereum, Binance Coin and ERC-20 and BEP-20 tokens. The project has set a goal of becoming the leading crosschain liquidity aggregator.

THORSwap will host an IDO of THOR tokens in October.

According to DeFi Llama, THORChain has $176.3 million in blockchain funds at the time of writing.

As a reminder, the THORChain protocol was attacked twice in July by a hacker. The developers estimated the damage at about $8 million. On July 27, the project team announced that it had suspended its work.


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