Trust wallet has now integrated THORchain’s technology to enable cross-chain crypto swaps in the app. The feature will eliminate the need to use fiat onramps or complicated cross-chain swaps to complete swaps across blockchains and at zero fees.
THORchain is a decentralized cross-chain liquidity provider open to any person, product, or institution. The platform boasts a total value locked (TVL) of $225.8 million.
The wallet is a non-custodial cryptocurrency wallet that enables you to buy, store, collect NFTs, exchange, and earn crypto.
Trust wallet THORchain integration
Šios nauja integracija will enable the wallet’s 10 million users to access cross-chain swaps between Bitcoin, Ethereum, Binansas coin, and the wallet’s native currency, Trust Wallet token.
The feature will be available on Android and should be available on iOS soon.
Noncustodial dApps have had an uptick in interest following the recent troubles on centralized exchanges.
Analysts suggest a mass exodus of users from centralized platforms like Binansas, citing liquidity fears. The collapse of the FTX exchange exacerbated the situation, then the 3rd largest exchange by trading volume.
The two platforms share an ethos that ensures self-sovereignty and transparency for its user; these include open-source code publicly available for perusal, user absolute control of funds, all transactions on-chain, and battle-tested security features.
In a multi-chain crypto world, more decentralized, secure, and easier cross-chain integration is necessary for user adoption of web3 services. I am very excited about Trust Wallet’s integration with the protocol to pave the way for users to swap multiple major blockchains while maintaining security and full ownership over their assets. It’s the first step, and we will continue to increase chain coverages and improve user experiences.
Eowyn Chen, „Trust Wallet“ generalinis direktorius
Users will require no signups to utilize the feature. The protocol will maintain swaps on native blockchains, so no bridging or wrapping will be involved, which usually brings additional risks.
The protocol determines the fees paid to chain validators according to the trade size.
Source: https://www.cryptopolitan.com/trust-wallet-cross-chain-crypto-swaps/