IIntegrating THORChain’s decentralized exchange into MetaMask provides a gateway to multi-chain experiences that preserve individuals’ financial autonomy. So, let’s explore how exactly users can add THORChain to MetaMask to enjoy the most seamless, secure cross-chain experience available today.
TL;DR
You can add THORChain to MetaMask via its Snap, which enables seamless decentralized swaps and cross-chain asset transfers across 10+ major blockchains natively from your wallet. It offers secure access to yields, derivatives, and leading DeFi apps to maximize decentralized finance in a simplified, optimized user experience.
Overview of THORChain
THORChain is a decentralized liquidity network enabling native cryptocurrency swaps across various blockchains without wrapped tokens. Its native token RUNE secures the network and facilitates cross-chain transactions.
Key Metrics:
- Market Cap – $1.3 billion
- Price – $4.35
- 24h Trading Volume – $108.7 million
- Circulating Supply – 300.7 million
- Total Supply – 500 million
- All Time High Price – $20.87
- Fully Diluted Valuation (FDV) – $2.2 billion
- Supported Chains – 10+ including Bitcoin, Ethereum etc.
- Daily Active Users – Over 3,300
- Weekly Active Users – Over 11,500
- Total Value Locked – Over $180 million
With over $180 million total value locked, THORChain offers non-custodial swaps and asset management while contributing to an interoperable landscape.
Benefits of Integrating THORChain
Adding the THORChain Snap provides:
- Secure access to decentralized swapping and asset management
- Seamless in-wallet interaction with THORChain’s offerings
- Enhanced cross-chain capabilities and simplified asset movement across chains
Step-by-Step Guide to Add THORChain to MetaMask
Integrating THORChain into MetaMask is straightforward using the Snap developed by ShapeShift. This boosts your wallet’s cross-chain capabilities, enabling simplified decentralized exchange access.
To add THORChain:
- Access the Snaps section within your MetaMask wallet.
- Locate and enter the THORChain Snap page.
- Click the “Add to MetaMask” button typically found at the top right.
- Follow the integration prompts shown in MetaMask to securely connect THORChain.
The Importance of Using Snaps
Snaps enable secure third-party integrations. THORChain utilizes Snaps for:
- Allowlisting and auditing – Snaps undergo extensive review and audits during development, ensuring legitimacy.
- Permissioned access – Snaps only access specifically allowed data, protecting user privacy.
- Revoke anytime – Unnecessary permissions can be revoked, maintaining control.
This standardized process promotes security for non-EVM chains like THORChain while expanding MetaMask’s capabilities.
Why Add THORChain to MetaMask?
Integrating THORChain into MetaMask provides:
Expanded Functionality
Access decentralized swapping, liquidity pools, yields and more through an intuitive in-wallet experience.
Enhanced Cross-Chain Experience
Effortless asset movements across Bitcoin, Ethereum, additional chains without centralized wrapping systems.
Optimized Security
Bank-level security standards safeguard funds and transactions via rigorous auditing and formal verification.
Decentralized Finance Engagement
Seamless interaction with leading DeFi protocols through secure wallet integrations.
Additional THORChain Capabilities
With THORChain connected to MetaMask, users can also:
- Swap across 10+ blockchains like Bitcoin and Ethereum natively
- Earn yields by providing liquidity
- Access multi-chain synthetics and derivatives
- Pay gas fees in native cryptocurrencies, not only ETH
As the network develops, increased functionality will decentralized finance.
If you’re looking to integrate other innovative blockchains like Stacks, StarkNet or Sui, we have handy guides on how to add those networks to MetaMask as well.
Expanding MetaMask’s capabilities beyond Ethereum is easy by installing custom Snaps. Check out our articles on connecting StarkNet, Stacks and Sui for simplified access.
Conclusion
Integrating the THORChain Snap into MetaMask enables the true cross-chain experience THORChain offers directly within your wallet interface. This simplifies asset movements across chains, expands DeFi opportunities through secure access and optimizes the decentralized finance experience.
FAQs
Is adding THORChain to MetaMask free?
Yes, there are no fees to add the THORChain Snap or access the network. Gas fees are only paid when conducting transactions.
What networks does THORChain support?
THORChain enables swaps between 10+ networks like Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash and more to come.
Do I need RUNE tokens to use THORChain through MetaMask?
No. While RUNE facilitates operations, you can interact without owning RUNE tokens beyond paying gas as necessary.
Is providing liquidity on THORChain risky?
There is minimal impermanent loss risk since THORChain enables swaps between native blockchain assets. However, liquidity pools carry some risk and rewards to consider.
