What is THORChain?

THORChain is a cross-chain liquidity platform that allows users to swap assets from different blockchains, for example a swap of ETH to BTC. This is done utilizing THORChains native token RUNE. Each THORChain pool is made up of RUNE and another coin, and users swap from their asset to RUNE, and then from RUNE to the desired asset. For example, BTC -> RUNE, RUNE -> ETH.

Methodology

In this dashboard, we will look at the total number of swaps, volume of swaps (in USD), TVL, and # of pools on THORChain in its first 30 days compared to its last 30 days. The data for the first 30 days will be from May 1st to May 30th of 2021, and the data from the last 30 days will be taken March 1st to March 30th of 2022.

THORChain has had a significant increase in number of swaps from its first 30 days to its last 30 days. The peak of daily number of swaps from its first 30 days was just under 6000, while the peak for the last 30 days was slightly over 12,000, more than double the peak from the first 30 days.

The daily swap volume has increased even more than the daily number of swaps from the first 30 days to the last. The daily swap volume in USD ranged from around $500,000 to about $9.5 million in the first 30 days, while in the last 30 days it ranged from a low of just under $7 million to a high of ~$43 million.

THORCHain's TVL, or Total Value Locked, also increased significantly from inception. While the TVL in the first 30 days ranged from around $70 - $200 million, the last 30 days have seen a TVL on THORChain of about $400 million to almost $1.3 billion.

The number of pools on THORChain have not increased as much as the other metrics looked at thus far, although there are still about 20 more pools currently on THORChain than there were at inception.

Conclusion

In conclusion, the number of swaps, swap volume, TVL, and the number of pools have each significantly increased from THORChain's first 30 days to its last 30 days.