Altcoin News

THORchain DEX finally delivers Dogecoin to the DeFi world

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

Sam Cooling

London-based crypto journalist Sam Cooling studied at the London School of Economics (LSE) before working as a Data Technology Consultant for the Fairtrade Foundation. Coin Rivet combines his passion for technology writing with his zeal for the Decentralised Finance revolution. Sam loves providing daily regulatory and alt coin coverage. Outside of the crypto world Sam loves boxing, and spends his time working with NGOs in Zambia.

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