SubQuery Network Integrates THORChain

Published on: 21.12.2022
SubQuery Network Integrates THORChain

SubQuery Network is supporting another Cosmos chain: THORChain, a decentralized cross-chain liquidity protocol.

THORChain provides a solution in the form of a decentralized exchange (DEX) based on the Cosmos software development kit (SDK). Its automated market maker (AMM)-based protocol provides the backend technology needed to swap cryptocurrencies between blockchains that were previously non-interoperable.

One of the most significant innovations to come out of the decentralized finance (DeFi) space is the automated market maker (AMM) model. AMMs allow crypto users to deposit a specific ratio of cryptocurrencies to a so-called liquidity pool. Participants then use these pooled funds to execute trades, with the pooled cryptocurrencies acting as the trading pair.

SubQuery Network Integrates THORChain

THORChain will benefit from the full SubQuery experience, including the open-source SDK, tools, documentation, developer support, and other benefits developers receive from the SubQuery ecosystem including SubQuery’s managed service, which provides enterprise-level infrastructure hosting and handles over 400 million requests each day.

SubQuery provides decentralised data indexing infrastructure to developers building applications on multiple layer-1 blockchains. SubQuery Network Integrates THORChain, As an open data indexer that is flexible and fast, the open indexing tool helps developers build APIs in hours and quickly index chains with the assistance of dictionaries (pre-computed indices).

Engineered for multi-chain applications, SubQuery’s tools allow developers to organize, store, and query on-chain data for their protocols and applications. SubQuery eliminates the need for custom data processing servers, helping developers focus on product development and user experience.

About THORChain

THORChain is a decentralized cross-chain liquidity protocol that allows users to swap assets between blockchain networks. THORChain provides a solution in the form of a decentralized exchange (DEX) based on the Cosmos software development kit (SDK). Its AMM-based protocol provides the backend technology needed to swap cryptocurrencies between blockchains that were previously non-interoperable.

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About SubQuery

SubQuery is a blockchain developer toolkit facilitating the construction of Web3 applications of the future. A SubQuery project is a complete API to organise and query data from Layer-1 chains. Currently servicing Polkadot, Avalanche, Algorand, Cosmos and Flare projects, this data-as-a-service allows developers to focus on their core use case and front-end without wasting time building a custom backend for data processing activities. In the future, the SubQuery Network intends to replicate this scalable and reliable solution in a completely decentralised manner.

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SOURCE:

https://subquery.medium.com/subquery-extends-cosmos-zone-indexing-with-thorchain-integration-79938e8186b2

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