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THORChain’s Affiliate Fees

THORChain is a liquidity protocol that operates across multiple chains.

THORChain Soars by 35% as DeFi Sector Turns Bullish iBase Trading.
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THORChain is a liquidity protocol that operates across multiple chains. The interface (ASGARDEX), the public API (Midgard), and the state machine are the three layers (THORChain).

Users do not communicate directly with THORNodes. Instead, they query Midgard for data and then broadcast transactions to external chains via third-party nodes. These transactions are then handled by THORNodes.

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This means that anyone can use THORChain by simply broadcasting a transaction on a linked chain. Interfaces are nothing more than tools for creating transactions and displaying data. As a matter of fact, transactions, wallets, custodial assistance, and others can all make THORChain more attainable by simply shrouding the experience in a user-friendly interface.

As a byproduct, in addition to the utility of cross-chain swaps, it is crucial that there are benefits to doing so — that every wallet, transfer, and supervisory service provider has sufficient to connect to THORChain.

Affiliate Fees are the answer

THORChain’s solution is non-custodial, decentralized, and transparent. Before the user signs the transaction, a wallet developer simply adds their affiliate address and fee rate. The user can review it and see the fee rate that will be charged. Once THORChain detects a purchase, it subtracts the service charge and pays it directly to the affiliate.

To add a fee to a swap, simply add your affiliate address and fee (in Basis Points; 0–1000 0 percent–10 percent) to the end of the memo. They converts the fee into RUNE and mail it to you. With RUNE, your affiliate address will grow over time.

To claim a fee for an ADD LIQUIDITY event, simply include your affiliate address and fee (in Basis Points; 0–1000 0 percent–10 percent) at the end of the memo. You will be assigned liquidity as part of the fee rate, and you will be added as a liquidity provider to the pool alongside your user. You have the option of withdrawing your liquidity at any time or simply leaving it to earn interest.

Wallet developers can choose to set the transaction fee between 0 and 1000 basis points (10 percent), which means they can use dynamic fees, such as 1–10 BP for large amounts ($10,000+) and up to 1000 BP for extremely small amounts ($100). It is up to them to determine their own cutoff points.

THORChain is unlike anything else that has come before it

One can be sure that the team and community will work tirelessly to integrate it everywhere. By supporting a single cross-chain liquidity protocol, wallet developers, exchanges, and even custodial service providers can now gain access to incentives, new business models, and revenue streams via affiliate fees.

THORChain will be available on XDefi, Trust Wallet, Keplr Extension, Math Wallet, Ledger, and other platforms, according to the team.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Tanya Smith is an editor at iBaseTrading. With M.A. in Journalism and Mass Communication, she is pursuing her dream of creating a positive difference in the media industry. She also enjoys Fashion and Travelling.