Thread by @flyacro

Today's special issue: smart contracts on @THORChain – the mind-bending, killer feature, that (almost nobody) talks about.

TL;DR: @Thorchain will deploy smart contracts faster than @Cardano

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Smart contracts extend the capabilities of the @THORChain by deploying custom logic that can be formulated using @THORChain financial primitives.

Let's have a look at some of them:

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@THORChain has four types of key, financial primitives:

1. $RUNE
2. Synthetics – secured and derived from LP collateral
3. LP units – your “share” of ownership of a pool
4. THOR.USD – arguably the most important composite

On top of that TC is a price oracle and gas oracle.

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What's needed is the ability to transfer LP, synths, $THOR.USD and $RUNE ownership to another address (ie a smart contract address). But how will @THORChain do it, one may ask.

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For each EVM-based chain, THORChain will have unique contract deployed. This contract will send/receive events from other contracts.

gitlab.com/thorchain/thor…

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The real magic will happen when the developers understand the ability of TC to be chain-agnostic, secure messaging layer – this feature allows to trigger contract calls between dissimilar chains

https://twitter.com/THORChain/status/1388365537399369728?s=20

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Why is any of this a big deal? dApps that are cross-chain are a new concept. Most dApps do not have technical abilities or manpower to support mulitichain needs today – @THORChain will fill this gap enabling any #Ethereum or #Terra developer to build a cross-chain dApp

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These dApps unlock new avenues of value-transfer not provided by @THORChain core capabilities. This is ultra bullish for $RUNE, as in order to play you need to lock $RUNE in a pool

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Today we see an explosion of various #DeFi protocols that are specific to a particular chain. Those dApps and ripe for @THORChain adoption. With TC smart contracts you would be able to create for example:

- free-floating reserve currency - chain-agnostic fork of $OHM
- yield bearing NFTs – a TC specific charged.fi
- play-2-earn games, lotteries like #LoTerra
- ultra-fast, synth based hybrid-DEXes
- yield optimizers, autocompounders, payment systems, etc...

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The opportunities are endless and it would be naive to think that the most active community builders are going to sit idle. My bet is on @THORSwap, @BrokkrFinance, @ninerealms_cap

Please retweet, if you find this topic fascinating. Please reach out if you want to brainstorm!