Discover and read the best of Twitter Threads about #ThorFi
Most recents (16)
1./ The concluding thread about $CHNG, $ROUTE and $RUNE.
Three protocols looking to solve the interoperability problem of blockchain, yet different from each other.
They can perfectly coexist and I’m about to tell you why.
Three protocols looking to solve the interoperability problem of blockchain, yet different from each other.
They can perfectly coexist and I’m about to tell you why.
2./ @FinanceChainge is working towards being an all-in-one #DeFi platform. Especially when a new bull run starts and new people will come trying to make some gains they could be the perfect platform.
3./ With their amazing visuals and easy-to-understand videos and articles they really seem to recognize this opportunity. They are the decentralized CEX competitor.
1./ $RUNE is a value-capture masterpiece, but why?
@THORChain enables cross-chain, decentralized, permissionless swaps. And because of how it's designed $RUNE will always have value.
Vague? I understand, a small thread 🧵👇
@THORChain enables cross-chain, decentralized, permissionless swaps. And because of how it's designed $RUNE will always have value.
Vague? I understand, a small thread 🧵👇
2./ To enable the cross-chain swaps, @THORChain made liquidity pools with native assets.
What are native assets?
$ETH for @ethereum
$AVAX for @avalancheavax
$ATOM for @cosmos
$BNB for @BinanceChain
And a few more...
What are native assets?
$ETH for @ethereum
$AVAX for @avalancheavax
$ATOM for @cosmos
$BNB for @BinanceChain
And a few more...
3./ In every liquidity pool the second asset next to the native one is $RUNE.
So if I deposit $100 of $BTC I have to pair it with $100 of $RUNE. I could also only deposit the $100 of $BTC, but it will be converted to $50 $BTC and $50 $RUNE behind the scenes
So if I deposit $100 of $BTC I have to pair it with $100 of $RUNE. I could also only deposit the $100 of $BTC, but it will be converted to $50 $BTC and $50 $RUNE behind the scenes
1/ Just as $UST disrupted centralized stables like $USDC and $USDT..
@THORChain's decentralized THOR.BTC can disrupt ~$13B of centralized wrapped $BTC.
While burning shit tons of $RUNE, like $LUNA does for $UST.
🧵👇
@THORChain's decentralized THOR.BTC can disrupt ~$13B of centralized wrapped $BTC.
While burning shit tons of $RUNE, like $LUNA does for $UST.
🧵👇
2/ Part of #THORFi will include a new type of synthetic called "derived assets."
These will be similar to the existing synthetic assets but the backing is different:
THORSynths are backed by LP (50:50 asset:RUNE).
Derived assets burn and mint the equivalent $RUNE.
These will be similar to the existing synthetic assets but the backing is different:
THORSynths are backed by LP (50:50 asset:RUNE).
Derived assets burn and mint the equivalent $RUNE.
3/ The focus for THORSynths is to quickly and cheaply arb the pools.
But there is a cap in terms of synth depth vs. LP depth, as to not strain LPers.
Whereas derived assets are theoretically unlimited, making them better for many new use cases.
But there is a cap in terms of synth depth vs. LP depth, as to not strain LPers.
Whereas derived assets are theoretically unlimited, making them better for many new use cases.
1./ Although many people are bullish on $RUNE not everyone seems to get why it’s programmed to $100 and probably far beyond.
In this thread I’ll explain why @THORChain is a liquidity black hole and you probably want to accumulate more now it’s still cheap 🧵👇
In this thread I’ll explain why @THORChain is a liquidity black hole and you probably want to accumulate more now it’s still cheap 🧵👇
2./ First of all it’s important to know what @THORChain is. @THORChain is a decentralized liquidity network that enables swapping native assets against each other without using bridges. Next to this it’s possible to mint synths of native assets which will always keep their price
3./ But why is this important?
Currently going from one to the other chain requires centralized parties or trust. You can either use a CEX, which is centralized. Or you can use a bridge which requires trust. There are reasons why this is not the preferred way.
Currently going from one to the other chain requires centralized parties or trust. You can either use a CEX, which is centralized. Or you can use a bridge which requires trust. There are reasons why this is not the preferred way.
Here are the top 10 things you need to know about #THORChain
I recently wrote a long 101 on #THORChain & $RUNE. Here is the TL/DR
A thread 🧵👇
I recently wrote a long 101 on #THORChain & $RUNE. Here is the TL/DR
A thread 🧵👇
1. The crypto world is becoming multi chain, but multi chain infrastructure is still lacking. This will be key in the coming months/years
2. THORchain is a cross chain AMM. It wants to be the chain exchange that bridges the gaps in the multi chain, immutable world.
2. THORchain is a cross chain AMM. It wants to be the chain exchange that bridges the gaps in the multi chain, immutable world.
3. Devs can choose the chain of their choice and use #THORChain to fuel liquidity from popular chains like ETH
4. THORChain supports native tokens across many chains & fulfills the role of a decentralized exchange
4. THORChain supports native tokens across many chains & fulfills the role of a decentralized exchange
1/ 最近老是看到 #THORFi，本来只是打算作为热点跟一下，结果看了Doc后就掉兔子洞里了，THORchain新的无清算借贷，很可能成为DeFi借贷的新模式：🧵⬇️⬇️
2/ 先大概介绍一下 @THORChain，它是用Cosmos SDK建造的应用链，用于底层公链Token的跨链交易，比如BTC换ETH。听上去有点像跨链桥，但还是有很大区别的。
3/ 现在资产跨链主要还是两种方式：跨链桥和CEX，都有不同程度的中心化或者托管风险，THORchain独特的地方就在于打造了一个完全去中心化的跨链渠道。
简单说就是：原生资产并不会真正“跨链”，只是在THORchain上建了LP池，所有池都以$RUNE为中心。比如，BTC➡️RUNE➡️ETH
简单说就是：原生资产并不会真正“跨链”，只是在THORchain上建了LP池，所有池都以$RUNE为中心。比如，BTC➡️RUNE➡️ETH
1/ Hey THORChads and crypto fanatics, the draft of #THORFi was recently released by @THORChain $RUNE. I will attempt to sum up THORFi as best as I can and give my thoughts about this exciting initiative.
TLDR will be listed at tweet 34.
TLDR will be listed at tweet 34.
2/ to know what is #THORFi, one must understand what is #THORChain (skip to /5 if you already know).
Well, THORChain is a decentralised ecosystem that allows the exchange of native assets across different chains.
Well, THORChain is a decentralised ecosystem that allows the exchange of native assets across different chains.
3/ When you swap one token from a specific chain to another token from another chain, you receive the native asset and not a wrapped version (such as $wETH for $ETH).
This removes the step of converting the wrapped asset back to the native asset and also ensures no depeg risk.
This removes the step of converting the wrapped asset back to the native asset and also ensures no depeg risk.
25/ How a bank run can occurs (correct me if I am wrong) when the price of $RUNE falls greatly, THOR.USD holders may be afraid of depeg risk and hence redeem RUNE with THOR.USD, the dilution of RUNE’s supply will hence lead to a further price drop which causes a death spiral.
26/ As stated before, RUNE-USD pool guarantees that THOR.USD is the most attractive stablecoin to use due to it having the most liquidity.
Also, as THOR.USD is used to buy up $RUNE as it dips to maintain the liquidity, the risk of a death spiral is mitigated.
Also, as THOR.USD is used to buy up $RUNE as it dips to maintain the liquidity, the risk of a death spiral is mitigated.
27/ Another thing to take note of is that when loaning THOR.USD, one is essentially short USD and long crypto. Loaning THOR.USD would make sense if you were afraid of a depeg.
If THOR.USD goes to 0, you would have gained free money if you converted it into other assets.
If THOR.USD goes to 0, you would have gained free money if you converted it into other assets.
2. Lending.
Users can borrow in THOR.USD by depositing collateral.
Collateral is in LP units of the primary asset of any chain. In other words, it will be in the units of ETH not ERC20s.
This makes the pools deeper and drives $RUNE price up.
Users can borrow in THOR.USD by depositing collateral.
Collateral is in LP units of the primary asset of any chain. In other words, it will be in the units of ETH not ERC20s.
This makes the pools deeper and drives $RUNE price up.
3. Borrowers pay 0% interest. This is BIG. The way this works is, borrowers forego yield on their collateral and all loans must be open for a minimum of 100 days.
The hype about #THORfi is absolutely warranted. Much has been written about the mechanics, which is some real giga brain stuff. But there are two things about what this means that I am most excited about
1. Adoption 🏃♂️
2. Tokenomics 💰
@Thorchain #RUNAtics
🧵🕒
1/9
1. Adoption 🏃♂️
2. Tokenomics 💰
@Thorchain #RUNAtics
🧵🕒
1/9
2/9 Adoption - Terra has shown that the path to adoption is to make things simple (e.g. $ANC). #THORfi does this in spades with a) a lending product that has 0 liquidation risks (no more sweating on whether you might have been liquidated during a flash dump)
3/9 The lending product has 0% interest rate - no more having to watch your yields move up and down depending on demand in market
#THORFi is coming ⚡️
Here's your breakdown of THOR.USD, #THORChain's algorithmic stablecoin.
A thread🧵👇
Here's your breakdown of THOR.USD, #THORChain's algorithmic stablecoin.
A thread🧵👇
2. THOR.USD is an algorithmic stablecoin pegged to USD.
Here's a quick explanation on the different types of stablecoins:
Here's a quick explanation on the different types of stablecoins:
3. $RUNE is burnt to mint THOR.USD and THOR.USD is burned to redeem $RUNE.
A fee is paid to mint or redeem to prevent attacks.
A fee is paid to mint or redeem to prevent attacks.
Synthetic assets are now available @THORChain. Why is this a big deal? Follow the 🧵
#DEFI $RUNE #SYNTHETICS #ActiveTheSynths
#DEFI $RUNE #SYNTHETICS #ActiveTheSynths
Let's start by defining what a synthetic asset is, and what makes it different than a wrapped asset.
A wrapped asset is collateralized by the asset its wrapping, while a synthetic is collateralized by one more assets (synthesizing an asset from multiple).
A wrapped asset is collateralized by the asset its wrapping, while a synthetic is collateralized by one more assets (synthesizing an asset from multiple).
Because wrapped assets have no correlation to the security of the network, they can and often exceed the value of the network securing it. THORChain's synthetics are collateralized by the pools, so 50% the asset, and 50% $RUNE.
Imho there has not been a more bullish period in the history of @THORChain network. This short thread explores what is going on under the hood of a sleeping giant and what it means for the current $RUNE hodlers
⚡️👇🚀
⚡️👇🚀
@THORChain is battle tested – as the old saying goes: what does not kill you makes you stronger. The core team not only came out of the summer 2021 stronger, but the team has grown, matured and introduced a number of practical anti-exploit & pro white-hat measures
🚀👇⚡️
🚀👇⚡️
@THORChain is still the only one secure L1 <> L1 DEX – that speaks volumes about the complexity of the problem it has set to solve. If this was simple a number of copy cats would pop out of nowhere. And it takes time to build strong foundations.
⚡️👇🚀
⚡️👇🚀
1/50 🧵
@THORChain is slowly resuming operation after the sobering hacks 2 months ago and the hardening that followed. This thread is about my thesis for the protocol and what it means to me. Not financial advice. No rocket emojis & price targets here. #DYOR
@THORChain is slowly resuming operation after the sobering hacks 2 months ago and the hardening that followed. This thread is about my thesis for the protocol and what it means to me. Not financial advice. No rocket emojis & price targets here. #DYOR
2/50
I initially ignored TC (THORChain) back in February because it sounded a bit goofy. The web page I landed on looked like an infomercial. Everything changed after I read @multicoincap's analysis in May: assets.ctfassets.net/qtbqvna1l0yq/5…
I initially ignored TC (THORChain) back in February because it sounded a bit goofy. The web page I landed on looked like an infomercial. Everything changed after I read @multicoincap's analysis in May: assets.ctfassets.net/qtbqvna1l0yq/5…
3/50
I understood the deterministic price floor of $RUNE and the size of the total addressable market (TAM) for a cross-chain DEX and what followed was a 4-month obsession. There are only 3 whitepapers that I've read more than once: #Bitcoin, #Ethereum, and @THORChain
I understood the deterministic price floor of $RUNE and the size of the total addressable market (TAM) for a cross-chain DEX and what followed was a 4-month obsession. There are only 3 whitepapers that I've read more than once: #Bitcoin, #Ethereum, and @THORChain
I received a few DMs with questions about the key differences between @Thorchain synths vs @synthetix_io vs or @mirror_protocol. While I am not an expert on the subject, I would like to point out ONE key difference that is obvious to my naked eye:
CAPITAL EFFICIENCY
👇👇👇
CAPITAL EFFICIENCY
👇👇👇
Let's start with @synthetix_io:
1. @synthetix_io is a protocol built on #Ethereum network and it is managed by a smart contract
2. The synths are collateralized by SNX token with 600% ratio (previously 750%)
👇👇👇
1. @synthetix_io is a protocol built on #Ethereum network and it is managed by a smart contract
2. The synths are collateralized by SNX token with 600% ratio (previously 750%)
👇👇👇
Let's have a look at @mirror_protocol:
1. Mir is built on Terra blockchain and is managed by a smart contract
2. The synths are collateralized by UST (A USD pegged stable coin) with 150% collateralization ratio or other mAssets with 200% ratio
👇👇👇
1. Mir is built on Terra blockchain and is managed by a smart contract
2. The synths are collateralized by UST (A USD pegged stable coin) with 150% collateralization ratio or other mAssets with 200% ratio
👇👇👇
So composite assets - what are they?
You buy them out of convenience, they're actually an index that is automatically rebalanced in a multi-asset liquidity pool.
Such as:
THOR.USD (important)
THOR.CRYPTO
THOR.ALTCOIN
THOR.DEFI
THOR.TEN
Let's take a look.
You buy them out of convenience, they're actually an index that is automatically rebalanced in a multi-asset liquidity pool.
Such as:
THOR.USD (important)
THOR.CRYPTO
THOR.ALTCOIN
THOR.DEFI
THOR.TEN
Let's take a look.
You hold this asset because:
1) It is an index that automatically and efficiently rebalances
2) They are yield generating, you are paid an interest to hold them (comes from liquidity fees from the pool)
1) It is an index that automatically and efficiently rebalances
2) They are yield generating, you are paid an interest to hold them (comes from liquidity fees from the pool)
Composites are generated from the liquidity shares of multi-asset synthetic liquidity pools.
Means they can be made up of 2+ synths, in equal proportions.
Arbitrage agents keep the pools balanced for profit, and liquidity fees go back to the composite, which generates yield.
Means they can be made up of 2+ synths, in equal proportions.
Arbitrage agents keep the pools balanced for profit, and liquidity fees go back to the composite, which generates yield.
