Try Quests to earn cryptoIt is not widely known that THORswap and THORchain are separate. THORchain is a blockchain protocol, while THORswap is an automated market maker (AMM) built on THORchain. The two entities are independent and run by different teams.
THOR is THORswap's ERC20 governance token. It can be staked in exchange for a liquid token called vTHOR. THORswap describes vTHOR as a 'membership token'. It gives stakers access to the following benefits:
- A discount on THORswap trading fees,
- Auto-compounding staking rewards, and
- Fee sharing (vTHOR holders receive 75% of THORswap revenues).
In this post I show the daily number of wallets that have staked THOR in exchange for vTHOR.
Most wallets staked THOR on the first few days after the launch of vTHOR.
The gold bars show the daily number of distinct wallets staking THOR. The line approximates the cumulative number of wallets staking THOR.
The cumulative number of stakers is slightly overestimated. If the same wallet staked THOR on two different days, then the wallet is counted twice.
From the launch of vTHOR to May 22, 2022, a total of 1522 distinct addresses have staked THOR. These addresses are all distinct.
The number of THOR stakers has levelled off. If this trend continues, the THORswap team should not expect large increases in THOR stakers.
