today, $RUNE’s fundamentals are stronger today than ever before.
1) the network is more decentralized now than ever with the highest number of nodes, which is continuously expanding.
2) the network bond are near ATH high and the pools are deeper than ever.
3) not a single core dev has left the project while there are more full time devs joining, making the dev team stronger than ever
4) the THORChain ecosystem continues to expand launching new websites, projects and communities further cementing the long term growth of the project
with integrations of economic powerhouses like @terra_money , $ATOM, @TokenReactor and much much more coming downstream, which will only drive into value of @THORChain up and up.
5) this dev team along with the greater community has proven to be able withstand even the harshest
events and pull through them coming out stronger on the other side. Bugs discovered are getting increasingly edge case proving the network is maturing.
6) Major new features are nearing release like synthetics, while new game changing features like
protocol owned liquidity, THORSavings, and lending are set to be released in the first half of 2022.
For these reasons amoung others, i have great confidence in the project’s long term prospects and excited to keep pushing the vision and goals of the project! Onto Valhalla!
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I want to clear up @THORChain's relationship with #IBC and why it's made the decisions its made.
IBC is a good bridging design but doesn't meet the design specifications and requirements of the @THORChain project. 🧵
THORChain will be implementing IBC, but NOT for interfacing with its liquidity pools. Instead, you can beam out $RUNE and THORChain synthetic assets to other cosmos chains via IBC, but not beam in external assets via IBC. This will contribute a massive amount to the IBC ecosystem
THORChain uses its own bridging design called "Bifrost" for its pools. This was designed & developed before IBC even existed. So IBC wasn't really an option from the start. But even if it was it would have not been a good choice for the goals and design requirements of THORChain
Now that @THORChain is BACK, we should reflect on what it took to get here. Follow the 🧵
1/ Multiple external audits have been conducted, of which those audits found nothing critical (will be released publicly soon).
2/ Internal audits did find critical issues, which were of course patched.
3/ A new team was born comprised of highly experienced white hat hackers. This "red team" takes an adversarial perspective on all code changes and must approve all changes. As well as pierce current code for potential threats/exploits they can find.