What is Thor Financial? Should I buy a Thor node? Is it safe? Is it a scam?

Would you like to invest in Thor Financial? Have you read about Thor Financial somewhere and now you would like to invest in the project? Would you like to buy a Heimdall, a Freya, a Thor, or maybe an Odin node? Is it safe? Will Thor Financial rug you like many other projects have, or is this something worth investing in that will give you a nice stream of passive income in 2022? Here we will share some thoughts on Thor Financial!

2021 was a fantastic year for the blockchain industry, and especially for those who invested in different cryptos. Yesterday, I saw a tweet in which a person said that he bought LUNA for $8000 at the start of 2021, and now, by the start of 2022, the same tokens are worth more than $1,000,000. Quite a lot of cryptocurrencies saw similar price movements. But, this also led to lots of scam projects showing up, all eager to get rich quickly as investors jump on every single train, hoping to get even richer.

This article was last updated

Strongblock was a real success ride in 2021 and the price went from $20 to $1200 at the highest. This is a project creating real Ethereum nodes, and now also Polygon and Sentinel nodes, strengthening the blockchains, and doing a real job. But, in the aftermath of the Strongblock success, many others decided to take advantage of the “node” success. The first and most famous such project was Ring Financial. It traded between $100 and $400 per token for a long time, and it started with an option where you had to buy 10 RING tokens in order to create a node. What was the function of the node? Nothing at all! It was just called a node because it sounded cool and nodes were already hyped through Strongblock.

Ring turned very popular, and suddenly developers started to fork Ring Financial. That led to Thor Financial, PowerNode, Comb Finance, and several others. So, Thor Financial came into being as a fork of Ring Financial, but as Ring Financial was hacked in the start of December 2021, they quickly went their own path and has since then been doing things very differently from Ring Financial (which has totally disappeared and rugged since then). So, let us forget about RING and return to THOR. Is this a solid project? Should you invest?

thor nodes

Should you invest in Thor Financial?

There are currently four types of nodes you can create with Thor Financial; Heimdall, Freya, Thor, and Odin. The four levels make it easier for all investors to join, with Heimdall being the cheapest node (the price is 1.3 THOR) while the price of the Odin node is 78 THOR. These will give you a constant return on your investment which can later be used to create new nodes, or you can withdraw your tokens and sell them on TraderJoe. Be aware of the fact that there is a tax when you claim your rewards to your wallet (the tax level depends on which node you have). The fees gathered are used to grow the Thor treasury and to invest in other projects, and also encourage people to compound rewards (by creating new nodes) instead of selling. If users decide to use their node rewards to create a new node, there are no taxes for the pending rewards used to create a new node (only for the plus that will end up in your wallet).

But, is it safe? Or will Thor suffer from extreme sell pressure and angry investors?

Thor for sure has developers working

My gut (and experience) tells me that Thor Financial is different from Ring Financial. First of all, they do have developers working on the platform and they are constantly pushing out updates and communicating with the community. They are doing great investments, and they are also using money from successful investments to buy back Thor tokens. From January 1st in 2022, they have also done a giant reward reduction, meaning that this will for sure decrease the selling pressure as people earn fewer tokens.

  • They already did some changes in December 2021, increasing the price to create the different nodes. The new price of the most popular node, the Thor node, was raised from 10 THOR to 12.5 THOR.
  • Earlier the daily reward for a Thor node was 0.7 THOR per day, but after the changes, the new reward turned to 0.33 THOR per day. This will further decrease to 0.144 THOR per day as of February 14th in 2022.
thor financial rewards
Changes coming to the rewards for a Thor node in February 2022.

Rewards from February/March 2022

  • ODIN: 1.3% (1.02 THOR / Day) – 8th February, 2022 (until then, 2.73 THOR per day)
  • THOR: 1.15% (0.144 THOR / Day) – 14th February, 2022 (until then, 0.33 THOR per day)
  • FREYA: 0.8% (0.05 THOR / Day) – 24th February, 2022 (until then, 0.13 THOR per day)
  • HEIMDALL: 0.64% (0.008 THOR / Day) – 1st March, 2022 (until then, 0.02 THOR per day)

With such changes, it will now require more tokens to create a node and you will earn less with it. The rewards are still nice, meaning that it takes 87 days to reach break-even if you buy a Thor node, while it takes 79 days to reach break-even if you buy an Odin node. These are major changes that try to put the project in the right direction when it comes to sustainability.

In other words, there are developers working hard with the protocol, and the Discord team (lead by Loki) is doing a great job communicating with the community. But, does this mean that Thor is a great project and a safe project?

Can we trust that Thor isn’t a scam?

We have a very good feeling about Thor. But, there are several things one should be aware of. First of all, even though they have a great team answering questions on Discord, we do not have a strong guarantee about the actual developers. However, they seem to be working very hard in the background and a giant update is expected to come to the protocol at the start of February 2022. If the team wanted to leave the project, they would probably have done so as the token went from $200 in December to below $30 in the start of January 2022. However, the team stood up, showed that they were serious and kept on working, and currently the price is back above $150.

Another thing you should pay attention to is the fact that if the general crypto market goes red, so will Thor Financial. Not only will the price suffer, but so will the investments of Thor Financial in other projects (that also suffer because the market is collapsing), and thus the project will most likely crumble like everything else. But, they have spread out their treasury in many interesting projects, all making this sound promising.

  • Thor Financial is currently running 2 Fantom validator nodes
  • They spent $300,000 purchasing TOMB tokens on Fantom (which will further give them TSHARE rewards)
  • Thor has also bought LUNA, HEC, MATIC, STRONG, and more.

In other words, they have an interesting treasury with millions of dollars worth in other projects!

We do suggest that you do your own research, but based on what we have seen and experienced so far, we do not consider Thor Financial to be a scam, but any investment in the project should be considered a high-risk investment.

Should I invest in Thor Financial? Some final words!

If you have read through the article, you probably have a better grasp of Thor Financial already. What is your feeling? We do suggest that you visit the Thor Financial Discord, ask some questions, and that you try to catch some vibes there in addition. Based on the information in this article and your own research, we do believe you will have a better insight as to whether you should invest or not.

Thor Financial is a high-risk investment, so no matter what you do, only invest money that you can afford to lose!

One thought on “What is Thor Financial? Should I buy a Thor node? Is it safe? Is it a scam?

Leave a Reply