Thread by @redphonecrypto

I talk about $RUNE like a fanboi a lot

But there's something serious underlying that talk

And that is a question: what if $RUNE renders billions of dollars of R&D funding and complicated cross-chain solutions and pegs unnecessary?

More below

https://twitter.com/redphonecrypto/status/1333814255657873412

Playing devil's advocate: what if $DOT, $ATOM, $BNB, etc. are all overengineered clunkers?

What if they're woody wagons in a world with Teslas?

Once we can seamlessly move between blockchains with the actual native tokens, why use a purpose-built peg system?

Projects can simply spin up a blockchain and add liquidity to Thorchain then use it like a bridge between their chain and any chain in the world

Thorchain could become THE liquidity platform... the liquidity middleware if you will that's called in like any function

The one advantage I can see to pegs is that they normalize differences in the settlement time across chains... that helps with composability

A big disadvantage is using pegs triggers a taxable events

I have $BTC I've been holding for years. You think I'm going to sell it into $wBTC so I can get 10% in a yield farm?

Hell no. I'd have to pay capital gains tax that would far exceed my yield. But I'll definitely pool $BTC in Thorchain assuming it doesn't trigger a taxable event

I also think $RUNE could develop vaults or a temporary "credit" that could solve cross-chain settlement time issues

Def stuff I'm missing, but my main thought is if you're sleeping on $RUNE, it's time to read up

Buy it when it's hard to buy... that is BEFORE it's on $ETH