Thread by @THORNoobs

What is @THORSwap 's token $THOR utility?

We saw some questions, and were eager to know ourselves.

Major utility: Incentivising a "Trading Black Hole".

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$THOR Utility TLDR;

1. Staking (platform revenue distribution)
2. Trading fee discounts for $vTHOR holders
3. Reward asset in "Trade mining competitions"
4. Bootstraps creative @THORChain projects (NFT's, WebApp, etc)
5. Liquidity Mining
6. Governance
7. Community Incentives

1. Staking:

$THOR holders will be able to stake $THOR and receive $vTHOR tokens in 1:1 ratio.

$vTHOR holders will earn 75% of protocol revenue, in $THOR tokens. Claimable on Weekly basis, no deadline to claim.

2. If you are a regular trader, you can hold $vTHOR tokens in your wallet and earn "Trading Fee Discounts" on your trades.

Fees could be a big use for Traders, such incentives should help them out.
Exact details on the mechanism for "Trading Fee Discounts" is yet to be out.

3. @THORSwap will occasionally host "Trade Mining Competitions".
$THOR token will be rewarded to participants.

Note that more trades -> more fees -> more income to liquidity providers -> more liquidity -> better trades.

4. @THORChadsDAO will be a community-governed DAO, which will mainly act as a "Launchpad" for creative and useful @THORChain projects.

Users will need $vTHOR here to vote on various proposals, & to filter projects which applied for funding by the @THORChadsDAO (in $THOR tokens).

5. Liquidity Mining:

@THORSwap will give liquidity mining rewards to $THOR pool liquidity providers.

6. Governance:

@THORSwap will be managed by the community, and community will be able to participate in crucial protocol decisions.

They will need to hold $vTHOR tokens to be eligible for this.

7. Community Incentives:

@THORSwap will also reward users who make exceptional contribution to @THORSwap or @THORChain overall.

This is a good image which shows how $THOR holders directly benefit by staking $THOR.

TRADING BLACK HOLE

Discounted Trading fees will encourage more trades.
This will ultimately benefit the "Liquidity Black Hole" of @THORChain .

Discounted Trading Fee -> More Trades -> More THORSwap Revenue -> Higher Discounted Trading Fee -> More Trades.

This is not all.
We think that various more use-cases for $THOR will emerge with time.

Some we can think of:

- Don't have asset to cover gas fee but are a $THOR holder? No worries ( $THOR on cheap chain though, Terra?)

- How about boosting the launch of a new token? An "Upcoming IDO" section?

Indirectly, @THORSwap will benefit from more trades happening through their platform.
Directly, New projects can pay to feature their pool launch on THORSwap platform (pay used to buy $THOR from market).

We might do another tweet thread on the above idea, sometime in second week of November.

Follow @THORNoobs for more.

cc @THORSwap @THORChadsDAO @THORChain $THOR

How is the work of our 9-year old graphic designer by the way?

His time has "no value", thus got the work done at cheap cost. 🤘