BNB Smart Chain added to THORChain

2023-09-20 — 3 min read

BNB Smart Chain has been successfully added to THORChain. BNB and BEP-20 assets are immediately available for all users to provide liquidity & swap

BNB Beacon Chain and BEP-2 assets like BUSD, have been available on THORChain since the genesis of the network. Single Chain Chaosnet, the precursor to THORChain Mainnet, operated entirely using BEP-2 assets. Now, THORChain has expanded its support for BNB Chain through BNB Smart Chain and BEP-20 assets.

Active Interfaces

THORWallet
THORSwap
Additional interfaces will be added as they go live

BNB Savers

Savers is now available for BNB on BNB Smart Chain

Savers is a simple way to provide single-asset liquidity on THORChain with no risk of impermanent loss. Savers is available for any Layer 1 gas asset pool and TOR anchor pool, now including BNB on BNB Smart Chain. When BEP-20 stablecoins are added to the TOR Anchor pool list, they will be immediately available for Savers. Note that Protocol Owned Liquidity has not been activated for any chains other than BTC and ETH, so capacity is limited by total dual-liquidity in the BNB pool.

Active BNB Smart Chain pools

BNB

BEP-20 assets available for pool creation

Pools can be created for any whitelisted asset. For a pool to be created, it must have a depth of over 10,000 RUNE to be available for swaps. Assets can be added to the whitelist via Pull Request in the THORNode Gitlab.

DEX Aggregation for BEP-20 Assets

THORChain’s DEX aggregator functions with BNB Smart Chain, giving users the ability to swap in/out of THORChain to/from another DEX like PancakeSwap. This provides access to an expanded list of BEP20 long-tail assets without requiring pool creation on THORChain. Enabling automatic routing from Native $BTC to $CAKE for example, in a single transaction. This feature can be accessed through various frontends who develop this functionality, such as THORSwap & THORWallet. The current list of whitelisted assets for SwapOut can be found here.

Lending

Lending is not yet available for assets outside of BTC and ETH. BNB on BNB Smart Chain will be available as collateral for lending at a later time. Note that the collateralization ratio is based on the outstanding debt and pool depth, so a shallow BNB pool will also have a correspondingly shallow lending cap.