THORChain Announces Imminent Integration of XRP into the Protocol's Mainnet, Offering Massive Benefits to XRP and RUNE Holders.

The decentralized liquidity platform shared in a tweet on Tuesday, April 29, that XRP swap is coming to its protocol. The much-anticipated integration will bring decentralized finance (DeFi) presence to XRP

Decentralized cross-chain liquidity provider THORChain is integrating XRP into its protocol, offering massive benefits to both XRP and RUNE holders.

The platform shared in a tweet on Tuesday that XRP swap is coming to its protocol. The much-anticipated integration will bring decentralized finance (DeFi) presence to XRP, while THORChain will tap into XRP’s massive trading volume.

⚓ XRP swap is coming to THORChain!

The integration is a significant milestone for both chains. XRP is the third-largest token by market cap and boasts the highest trading volume, with an average daily liquidity of $2B on THORChain. This will lead to increased swaps, which in turn amplifies protocol generation fees and yields for the RUNE ecosystem.

The integration will also bring a better DeFi presence for XRP, which has most of its trading controlled by centralized exchanges. It spells the edges off wrapping, synthetic derivatives, and intermediate custodial solutions for XRP swaps. Finally, it sets the pace for future DeFi functionalities for XRP. This support lays the groundwork for expansion to the Rujira Network, an application built atop the THORChain, offering specific functionalities, such as OTC trading, interoperability, and DeFi features.

From the integration, we can expect to see native lending, perpetual trading, and spot order books for XRP. This is despite the lack of native DeFi functionalities on the XRP Ledger, which has been a pain point for XRP enthusiasts. While Ripple aims to change this narrative with the imminent new programmability, protocols like Flare have also taken the initiative to offer DeFi features to XRP holders.

Earlier this month, THORChain announced that XRP swaps are now live on stagenet, its testnet. The platform revealed that it would make the third-largest cryptocurrency by market cap the next asset available for decentralized trading on the protocol, with mainnet integration slated for May.

The integration, led by Strangelove and THORChain’s core developers, Nine Realms, will introduce native, non-custodial swaps for XRP holders. This allows users to swap the token for other supported coins on the platform directly through self-custody wallets and without the need for centralized exchanges or wrapped tokens.

The integration will also bring a better DeFi presence for XRP, which has most of its trading controlled by centralized exchanges. It spells the edges off wrapping, synthetic derivatives, and intermediate custodial solutions for XRP swaps.

Moreover, the announcement emphasized the importance of this support for both chains. First, XRP ranks third among tokens in the crypto market with the highest trading volume. With an average daily liquidity of $2 billion, the massive volume would lead to increased swaps, which in turn could amplify protocol generation fees and yields for the THORChain ecosystem.

This would also bring a better DeFi presence for XRP, setting the stage for future functionalities for the token.

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