THORSwap closes investment round as cross-chain DEXs take center stage
Summary
The funding will be used by THORSwap to continue building its development and operational resources, including the launch of new products on top of THORChain, the decentralized liquidity network powering the exchange. THORChain’s April launch was viewed favorably by the cryptocurrency community, with ShapeShift CEO Erik Voorhees describing it as a seminal moment for the industry. As Cointelegraph reported, THORChain experienced a sophisticated attack during the summer that resulted in the loss of $8 million worth of Ether. Meanwhile, in August, DeFi lending protocol Cream Finance was drained of $19 million in a flash loan attack. By recruiting the assistance of a DeFi security platform, Cream Finance has been able to recover most of the lost funds.