Thorchain, within the realm of decentralized finance (defi), has amassed significant volumes. The DeFi functions as a decentralized cross-chain infrastructure, enabling the seamless transfer of native assets for settlement across multiple blockchain networks.
Thorchain lets users deposit assets to generate yields from swaps or exchange native assets between supported chains. The DeFi was constructed utilizing the Cosmos SDK, a Golang framework for building blockchain applications.
According to data archived on defillama.com, Thorchain ranked third in dex volume this week, amassing $1.854 billion. Pancakeswap had approximately $2.974 billion, whereas Uniswap disclosed $12.021 billion.