Now that things are moving forward again with Haven’s integration on THORChain, we’d like to provide a progress update for the community.
What is THORChain?
THORChain is an independent blockchain that acts as a cross-chain decentralized exchange (DEX). It uses an automated market maker (AMM) model to enable the exchange of assets across disparate blockchains in a non-custodial manner.
THORChain not only disrupts centralized exchanges but provides a giant leap forward for Haven. Large liquidity pools will benefit traders as well as those staking. And providing a yield will further incentivize users to hold xUSD and other xAssets.
More importantly, THORChain and Haven share a symbiotic relationship. xUSD provides a much needed private stablecoin for THORChain users, and Thor provides xUSD holders a route to markets and liquidity. For the first time, xUSD will be available to the masses, accessible to anyone on THORChain’s rapidly expanding network.
This will change the game.
THORChain and Haven developers worked closely together on XHV integration, right up until last month’s MultiChain ChaosNet (MCCN) release. This release was a monumental achievement for the Thor team, leaving us all in awe, and excited for what the future will bring. It also put an incredible workload on the Thor developers, delaying completion of their part of the Haven integration.
Following a team call with Thor’s developers last week, it was apparent that we needed to take matters into our own hands. Like Haven, Thor is an open source project, so the entire Haven dev team is now focused almost exclusively on Thor’s own codebase.
Great progress has already been made, and a clear path has been defined by our team for completion without any dependency on Thor’s developers. We’re in the process of writing code ourselves for the final pieces required for integration. We greatly appreciate the ongoing communication and support provided by the Thor team as they continue to focus on MCCN stability and growth.
We’re not going to commit to any hard dates for completion at this stage. But we can say this: the entire teams’ goal is to complete the Thor/Haven integration as soon as humanly possible.
Thank you for your patience and support. Stay tuned for additional details in future updates.