THORWallet adds several Features
Savings Accounts for Stables, Streaming Swaps & CASHBACK Staking
Saving Accounts for Stables
With the newest update, savings accounts for stablecoins are available on Thorwallet. The new addition includes :
- USDT — ERC20
- USDC — ERC20
- USDC — AVAX
- BUSD (Bep2)
The saving vault yields are based on the trading activity of the underlying liquidity pools which are used to facilitate the cross-chain trades. If there are a lot of trades with those stable pairs, the APY will be high, if there is low volume, the APY is low. Simple.
The pools are held on the blockchain itself, there is no central entity — you and only you have access to your saving vaults. That’s the definition of decentralized finance. At the same time, it’s your individual responsibility to keep your seed phrase safe.
Streaming Swaps
Streaming Swaps are another game changer, that make decentralized finance more competitive and usable. Streaming swaps allow you to (automatically) split up a big swap into smaller subswaps over several hours. As a result, you will receive a much better exchange rate.
In the following example, you can choose your swap execution between price-optimised or time-optimised.
Price-optimised: 869.5 ETH (+$430k)
Time-optimised: 618.2 ETH (5h 51m faster)
The streaming swaps enjoy a great market fit and the cross-chain DeFi volume flowing through Thorchain grew rapidly and remains at a high level.
CASHBACK Staking
We are adjusting the mechanism for $TGT stakers to align with a more sustainable future. Instead of inflationary bonus tokens for stakers issued by the treasury, we are switching to a real-yield model where $TGT stakers receive a cashback in USDC —so to say a discount on the accrued fees. At the beginning, we use 50% of the protocol fees for the cashback pool. At the same time we are introducing Staking Power, which incentivises stakers to think long-term.
Staking Power influences your cashback. The longer you are part of the community through staking, the more you get:
- Zero for the first 7 days
- 1x staking power starting from day 8
- linearly increasing staking power to 2x which is reached after 1 year.
You will not lose staking power if you add $TGT, however you will reset your staking power if you withdraw from staking. Harvesting your CASHBACK USDC, will not reset either.
Starting today, we will gradually reduce the current staking APY so users become aware of the change. We will provide a simple user experience, where you can unstake from the old and restake to the new staking contract in a seamless fashion.
Your THORWallet DEX team
✅ Webapp
