THORchain DEX finally delivers Dogecoin to the DeFi world

Dogecoin has finally been accepted into the ranks of DeFi DEX protocols following THORchain's ambitious integration

After years of waiting, Dogecoin can now be purchased on a decentralised exchange following a successful listing by THORchain.

Dogecoin holders will no doubt be elated by the significant milestone, with THORchain delivering the first ever DeFi protocol connection to the standalone DOGE blockchain network.

THORchain will enable users to swap their DOGE for Bitcoin, ERC-20 tokens, BSC tokens, LTC native tokens, and stablecoins.

Read more: Shiba Inu crisis: Breeders worried by Dogecoin abuse surge

THORchain open the door to DOGE liquidity farming

Additionally, the non-custodial offering will open new yield farming doors for diamond-handed investors looking to reap additional harvests from their stacks through a new permissionless DOGE liquidity pool.

Chad Barraford, the technical lead at THORchain, explained that DOGE joining the DeFi world was critical for protecting the privacy of holders in the long term.

“For years, DOGE has stood still, while DeFi exploded in other ecosystems,” he said.

“Today that changes, as DOGE reaches a new level of self sovereignty by being able to enter and exit without being KYC’ed.

 “This changes the fundamentals of the asset significantly both as a store of value and as a medium of exchange.”

Read more: Seven reasons Dogecoin is a better memecoin than Shiba Inu

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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