By returning a 20% portion of the transaction fees on all @SwapKitPowered swaps, THORChain enables SwapKit to provide users with significantly reduced pricing.
This mechanism has already shown promising results. Over the first 12 days of operation, SwapKit directed $18.58M in trading volume via THORChain. This amount marks a 24% increase when compared to the 12 days immediately preceding this period. This creates a beneficial loop where higher processing volumes lead to an increase in shared fees, directly financing even more affordable quotes for the community.
While these initial statistics are certainly positive, the overall trend of this system will become much clearer as we observe the data over the approaching weeks.
This mechanism has already shown promising results. Over the first 12 days of operation, SwapKit directed $18.58M in trading volume via THORChain. This amount marks a 24% increase when compared to the 12 days immediately preceding this period. This creates a beneficial loop where higher processing volumes lead to an increase in shared fees, directly financing even more affordable quotes for the community.
While these initial statistics are certainly positive, the overall trend of this system will become much clearer as we observe the data over the approaching weeks.