THORCHAIN Launch: Tip for Mobile Wallet Users

Today was pretty cool.

Back in the day, folks from LeoFinance were waving the RUNE flag. When I researched what RUNE was, I thought the branding and theme were neat, but everything else just went over my head. Since I didn't really understand the project, I invested elsewhere.

Then a few months back, I decided to re-visit all this RUNE crazy-talk.

In the time that passed, I had grown a little wiser and more experienced in the ways of DeFi. So now it made more sense. Of course, the price of RUNE had jumped from pennies to like $1.50.

But whatever. I grabbed some. When it hit 3 bucks, I grabbed some more. And even when it hit the $5 range, I grabbed even more.

I'm not financially well off by any stretch of the imagination, but I was proud of my semi-hefty sack of RUNE. I like coins that have UTILITY. That I can PLAY with. I bounced around on BEPSwap, using Trust Wallet on my phone.

I enjoyed how easy it was to swap and add liquidity using some RUNE, BNB, and a mobile device. Fun times!

And today was the release of the mighty THORCHAIN! Yay!

Now we can swap and participate in pools that cross different blockchains.

Currently, the ROI doesn't even come close to CubDeFi. So hats off to CubDeFi for knocking it out of the park on their first day.

But I guess the real value of Thorchain is cross-compatibility.

I was too nervous to play with large amounts on the first day, so I kept it small to start. Just to see if things work, haha.

I downloaded the ASGARDEX Desktop client. If you're not sure where to get it, you can grab it here:
https://github.com/thorchain/asgardex-electron/releases

Just click the latest version to see download options.

I recommend doing the Desktop download first, since it's probably the most user-friendly out of the various interfaces you can use to access Thorchain.

My only gripe was that once you setup the wallet, there was no QR option for depositing funds. At least, not initially (later, I found out that QR options are displayed once you make a deposit and a balance is displayed).

This was a problem, since the bulk of my liquid RUNE and BNB was in my Trust Wallet, and I didn't want to sit there trying to type out a long string of random characters. Does that make me lazy? I dunno. I guess HIVE has spoiled me with its user-friendly usernames.

Well, it turns out that ThorSwap (https://thorswap.finance/) had what I needed!

If you're like me, you'll want to download the Keystore from your ASGARDEX desktop settings. Then use that to log into ThorSwap (when you click on "Connect Wallet", a pop-up asks you to upload your keystore file). From there, you tap your Wallet Details in the upper corner, and...ta-da! QR code options!

Since you used the keystore from your desktop wallet, it's the same addresses. Funds will go to the same place. So feel free to use your Trust Wallet to scan those QR codes to send funds to your new Thorchain wallet!

I started off by just sending $20 worth of BNB. Seconds later, I checked my desktop wallet, and there it was! It WORKS! Yay! And once you have a balance, the little QR icon option appears.

Next, I tried sending just 1 RUNE. How to send RUNE on the Binance chain to the Thorchain? I'm glad you asked.

Send the RUNE in your Trust Wallet to the Binance address in your Thorchain wallet. Once deposited, it will look like this.

From there, you can convert your BNB.RUNE into Thorchain RUNE! After you upgrade the RUNE, it looks like this.

Just so I can say that I participated in a pool on Day One, I went ahead and tossed about 25 bucks into the LTC/RUNE pool (since it had the best APR compared to the others).

Once any bugs are worked out and the caps are raised, I look forward to playing with the platform more.

Hopefully, this helps out anyone else who is curious about trying out Thorchain.

Posted Using LeoFinance ^Beta