1/15
@THORChain's story over the past 9 months is best told by the nodes over time chart. It includes the downtime after the hacks, a consensus failure in November and the resumed steady increase in nodes (& largest use of MPC) - up to 63! But why bet big on @THORChain?
@THORChain's story over the past 9 months is best told by the nodes over time chart. It includes the downtime after the hacks, a consensus failure in November and the resumed steady increase in nodes (& largest use of MPC) - up to 63! But why bet big on @THORChain?
2/15
The name of the game continues to be trust minimization but the current space of cross-chain projects is rife with counterparty risk & trust assumptions whereas @THORChain is all about predictable & transparent cost of corruption:
The name of the game continues to be trust minimization but the current space of cross-chain projects is rife with counterparty risk & trust assumptions whereas @THORChain is all about predictable & transparent cost of corruption:
https://twitter.com/THORChain/status/1407960399878651910
3/15
The truth is that the current state of the space is much closer to a game of Jenga than reliably composable bricks of legos - cross at your own risk:
The truth is that the current state of the space is much closer to a game of Jenga than reliably composable bricks of legos - cross at your own risk:
4/15
This blog post by @Chainflip is an excellent overview of the security & tradeoffs in the cross-chain bridge space and puts Vitalik's recent comments into perspective:
blog.chainflip.io/was-vitalik-ri…
This blog post by @Chainflip is an excellent overview of the security & tradeoffs in the cross-chain bridge space and puts Vitalik's recent comments into perspective:
blog.chainflip.io/was-vitalik-ri…
5/15
There are plenty of skeletons in the closet of most projects and many users are simply not aware of them - the simple UIs, comforting slogans & TVL metrics hide what's behind the curtains:
There are plenty of skeletons in the closet of most projects and many users are simply not aware of them - the simple UIs, comforting slogans & TVL metrics hide what's behind the curtains:
6/15
@THORChain is on the other end of the spectrum of economic security & decentralization - node churns are an event for many in the community and it even wins the approval of @ChrisBlec when it comes to transparency which is saying something:
@THORChain is on the other end of the spectrum of economic security & decentralization - node churns are an event for many in the community and it even wins the approval of @ChrisBlec when it comes to transparency which is saying something:
https://twitter.com/ChrisBlec/status/1468686908427579396
7/15
If TC was already as big as it's aspiring to become, it would be the most liquid & secure cross-chain DEX/bridge/DeFi platform with the fewest steps needed to move from one chain to another or make any capital productive.
If TC was already as big as it's aspiring to become, it would be the most liquid & secure cross-chain DEX/bridge/DeFi platform with the fewest steps needed to move from one chain to another or make any capital productive.
8/15
The chicken & egg problem of liquidity & volume will be solved - there are plenty of reserve incentives and the network's value will grow exponentially following Metcalf's law with each new integrated chain - the mesh becomes much more valuable than the sum of its parts.
The chicken & egg problem of liquidity & volume will be solved - there are plenty of reserve incentives and the network's value will grow exponentially following Metcalf's law with each new integrated chain - the mesh becomes much more valuable than the sum of its parts.
9/15
Add to that protocol hardening, upcoming ThorFi, further decentralization, time without major incidents, adoption by more DEX interfaces & aggregators/routers, wallets, and at some point even centralized entities. Everyone will flock to the deepest liquidity.
Add to that protocol hardening, upcoming ThorFi, further decentralization, time without major incidents, adoption by more DEX interfaces & aggregators/routers, wallets, and at some point even centralized entities. Everyone will flock to the deepest liquidity.
10/15
1B$ of non-$RUNE assets in TVL will be crossed and the snowball will start rolling down the hill of a multi-year S shape of adoption & maturation. TC doesn't compromise on TAM & limit itself to EVM/smart contract chains - #Bitcoin matters (feels weird to have to say that).
1B$ of non-$RUNE assets in TVL will be crossed and the snowball will start rolling down the hill of a multi-year S shape of adoption & maturation. TC doesn't compromise on TAM & limit itself to EVM/smart contract chains - #Bitcoin matters (feels weird to have to say that).
11/15
It would take an unlikely breakthrough in information theory & math to enable a meaningfully better design - @THORChain is close to the best we'll ever get: the strongest economic model for a secure & operational bridge with a revenue-generating app:
It would take an unlikely breakthrough in information theory & math to enable a meaningfully better design - @THORChain is close to the best we'll ever get: the strongest economic model for a secure & operational bridge with a revenue-generating app:
https://twitter.com/ZacharyDash/status/1479204239230517251
12/15
Concerns such as scaling the bond, instability, the hacks, high #ETH outbound fees, or $RUNE's volatility will fade in time - all these are just growing pains. @THORChain is still a contrarian bet but it won't stay such forever - soon it will be common knowledge.
Concerns such as scaling the bond, instability, the hacks, high #ETH outbound fees, or $RUNE's volatility will fade in time - all these are just growing pains. @THORChain is still a contrarian bet but it won't stay such forever - soon it will be common knowledge.
13/15
The silver lining for these market conditions & setbacks is that whales have more time to accumulate cheap $RUNE and enter as node operators. The set of people that fully get TC only grows and few (if any) aren't bullish once they realize the tradeoffs of the competition.
The silver lining for these market conditions & setbacks is that whales have more time to accumulate cheap $RUNE and enter as node operators. The set of people that fully get TC only grows and few (if any) aren't bullish once they realize the tradeoffs of the competition.
14/15
Some food for thought: properly carrying out a fork of @THORChain requires 6+ months of preparation and planning (@MayaProtocolEng) - not your typical solidity 300-liner. The training wheels are slowly coming off & chain integrations ramping up.
Some food for thought: properly carrying out a fork of @THORChain requires 6+ months of preparation and planning (@MayaProtocolEng) - not your typical solidity 300-liner. The training wheels are slowly coming off & chain integrations ramping up.
15/15
Remi Tetot's tweet that normies don't get @THORChain still haunts me, so follow @THORmaximalist as he'll be doing daily deep dives into the different aspects of the protocol!
Remi Tetot's tweet that normies don't get @THORChain still haunts me, so follow @THORmaximalist as he'll be doing daily deep dives into the different aspects of the protocol!
https://twitter.com/Remi_Tetot/status/1398889504476385284
$RUNE
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