This makes it possible to swap the meme coin for Bitcoin, Ether, Litecoin and other supported cryptocurrencies without relying on centralized exchanges.
Thorchain uses the automated market maker model, which means that it functions similar to such popular DEXes as Uniswap. However, the important difference is that it allows the trading of real cryptocurrencies instead of ersatz synthetic versions, such as"wrapped Bitcoin" or"wrapped ETH" .Thorchain, which was initially started in 2018 by a team of anonymous developers, launched its blockchain in April.
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