THORChain (RUNE) displays momentum following lending protocol launch

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Written on Aug 21, 2023

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THORChain bolsters network fundamentals with the latest functionalities.
Streaming Swaps and the highly-anticipated THORChain Lending Protocol keep RUNE afloat.
Streaming Swaps reduces gas charges and network complexity.

Decentralized exchange (DEX) THORChain (RUNE) flashes momentum following its recent launches. The highly-awaited THORChain lending protocol and Streaming Swaps functionality present a significant game-changer for the crypto project, enhancing usage and adoption.

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THORChain’s latest functionalities have helped native RUNE defy the current downside market trends. The alt traded firmly in the green territory on its weekly chart amidst optimism that the asset attained over the past seven days (with Streaming Swaps implementation and Lending Protocol launch keeping the alt afloat.

THORChain news have been positive lately. For instance, THORSwap introduced Streaming Swaps early in August to ensure price optimization for token swaps and trades.

THORChain’s lending protocol & Streaming Swaps

Streaming Swaps on THORSwap breaks cross-chain trades into smaller and more manageable parts that users can execute over an extended duration. Previously, performing many manual swaps catalyzed low slippage, welcoming increased gas charges and complexity.

That has been a challenge in the decentralized finance sector. Meanwhile, Streaming Swaps allow users to complete a transaction sent to the THORChain platform to attain the best prices and streamline the process.

THORChain’s lending protocol

While Streaming Swaps implementation enhanced THORChain’s appeal, the project recently announced the much-anticipated lending protocol. The new functionality allows users to borrow Bitcoin and Ethereum with no interest while ensuring decentralization.

Unique collateralization makes THORChain’s lending protocol one of the best in the marketplace. The platform converts loan collateral to RUNE coins before burning the difference between the loan amount and the collateral value.

This approach alleviates the need for interest or liquidation, matching THORChain’s vision of user empowerment and heightened decentralization.

RUNE price outlook

While RUNE enjoyed an impressive upside over the past seven days, its lost 7.5% in its daily chat. The altcoin’s 24hr performance mimics the deteriorated mood in the overall crypto space. Nonetheless, the lucrative weekly performance leaves RUNE 18% higher on the 7-day chart.

However, RUNE’s dip within the past day shows fading investor interest following its recent launches. THORChain’s price action indicates the buy rumors and sell news narrative.