0xValoris Profile picture
Mar 10, 2022 β€’ 18 tweets β€’ 9 min read β€’ Read on X
Navigating through the THORChain ecosystem is still nebulous, especially for new users.

In anticipation of the Terra integration πŸŒ– and ThorFi, here's a PRACTICAL guide to THORChain 🧡 ⚑️

$LUNA 🀝 $RUNE

#RUNAtics
1/ For the unaware, THORChain is a cross-chain DEX where users can swap NATIVELY between assets like $BTC and $ETH (not wrapped) and soon $LUNA.

Here's a excellent 🧡 on Thorchain πŸ‘‡

2/ You could also provide liquidity into THORChain and get yield on assets like $BTC

The LP is always paired 50/50 with Thorchains native token $RUNE and there's Impermanent Loss protection(in dollar terms) if kept for 100 days πŸ‘‡

3/ Cool, now let's get to the practical part

I'll be using @xdefi_wallet for this

It's pretty straightforward to create an account, if you get stuck, refer to this πŸ‘‡

xdefi-io.medium.com/xdefi-wallet-1…
4/ In anticipation of the Terra integration, I'll be starting with $UST in my Terra wallet

Overview πŸ‘‡

UST -> CEX -> BUSD on Binance Chain(not Binance Smart Chain) -> Native RUNE

If not starting with UST, skip to CEX part
5/ Why CEX?

Afaik, there's isn't a proper decentralized way YET.

Once Terra is integrated into THORChain, you can use @RangoExchange to swap UST to native RUNE.
6/ Till then, a cex is needed.

I'll be using Binance but Kucoin and Ascendx also supports Binance Chain $RUNE(it's not native)

However, I recommend using Binance

Why?
7/ First reason is more liquidity and fewer fees

But mostly is to make use of the price discrepancy between BinanceChain $RUNE and Native $RUNE

As you can see, Rune is $5.2 on Binance while Native Rune is $4.93... a 5% variance
8/ Now let's start ⚑️

Go to Binance and deposit $UST.

Make sure the network is Terra and include the Memo
9/ Once received, choose the UST/BUSD pair

1000 $UST gets you 1004.8 $BUSD... sweet!
10/ Now withdraw BUSD to Xdefi

Make sure Binance Chain is enabled in Xdefi:
Settings -> Chain management -> Binance

To get the Binance Address, go to receive and choose Binance

btw, withdraw some BNB to the same address too, you'll need it for fees
11/ Don't worry if you haven't seen it yet. You probably didn't add $busd token on xdefi.

Add BNB chain $BUSD, not BSC.

Same thing for BNB, for the fees
12/ Now go to the Xdefi menu and enable "prioritize XDEFI"

After that, head over to app.thorswap.finance and connect Xdefi wallet

@THORSwap
13/ Once connected, click the wallet button and you'll see the BUSD and BNB in the binance chain section
14/ If you want to swap to $RUNE, go to trade-> swap

If you wanna provide LP, go liquidity-> add

Note: You can provide 50/50 or asymmetrically.

If u provided asymmetrically, it'd automatically swap to 50/50 asset-rune in the back end.
15/ Scroll down and you'll see the APYs and other metrics

Wanna see the fees ur LP is getting? πŸ’Έ

Head over to thoryield.com and paste your address
16/ Btw, Thor Synths just released, which will be the gateway towards ThorFi(lending and borrowing with 0% interest and no liquidations 🀯)

Thread by @CBarraford 🧠 on synths πŸ‘‡

17/ Be ready for the imminent launch of $LUNA- $RUNE LP #LUNAtics πŸŒ–βš‘οΈ

Tagging some #RUNAtics

@ChadThoreau @NicolasFlamelX @Cephii1 @danku_r @farmerdbrown @CryptoHarry_ @altcoinasian @THORmaximalist

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More from @0xValoris_

Feb 28, 2022
Okay, so we have $bLUNA, $stLUNA, $LUNAx, $nLUNA, $cLUNA, $yLUNA and $pLUNA

What are all these LUNA derivatives, and how can I use them? πŸŒ–

πŸ‘‡
1/ All of them except $cLUNA, $nLUNA and $pLUNA are STAKING derivatives.

What does that mean??

It means you get staking rewards if you hold them, and each varies slightly by how you receive the rewards.
2/ If you didn't know, $LUNA is currently the only asset with non-inflationary staking rewards(~10%)

After the community pool burnπŸ”₯, massive swap fees were generated. Currently, $1.3bn $UST and 32mm LUNA are being paid out over 2 years.

πŸ‘‡
apeboard.finance/dashboard/APE-…
Read 17 tweets
Jan 16, 2022
Long-term bullish on $LUNA, but indecisive of its short-term direction?

OPTIONS would be an excellent addition to generating income while the market moves sideways.

A Thread🧡
1/ The two platforms currently supporting Options for $LUNA are @friktion_labs and @Katana_HQ, both on Solana.

Friktion offers two options strategies for $LUNA–Covered Calls and Cash secured puts, while Katana only offers Covered Calls for LUNA
2/ WTF are covered calls and cash-secured puts?

Let's see πŸ‘‡
Read 22 tweets
Dec 7, 2021
Heard concerns about how Anchor will sustain ~20% yield during a bear market and whether yield reserve will deplete. A quick 🧡

$ANC $LUNA

πŸ‘‡πŸ‘‡
1/ First of all, the promise of Anchor is in the stabilized stable yield, not in the 20% itself.

The aim is to become the benchmark rate of Defi, and it doesn't necessarily have to be 20%.
2/ The long-term anchor rates can be algorithmically adjusted (currently static, set by gov), reflecting current market/protocol conditions, updating every long term period, like 6 months
Read 9 tweets
Nov 9, 2021
Terra lacks marketing but still is one of crypto's most eminent chains. Why??

Let me just list out some LIVE protocols and projects utilizing Terra

$LUNA
@xdefi_wallet and Terrastation (Supported Wallets)

terraswap.io (Dex)

mirror.finance (stock investing)

anchorprotocol.com (savings bank)

orion.money (Cross-chain savings bank utilizing Anchor)
kado.money (Spend $UST on Amazon and Walmart. In Beta)

withyotta.com/crypto-buckets (Savings bank in the US utilizing Anchor)

kash.io (Real-world savings bank utilizing Anchors rate)

pylon.money (lossless investing IDO platform)
Read 12 tweets
Oct 29, 2021
Many dont know the difference between APR and APY, especially when it comes to defi. A simple 🧡 πŸ‘‡πŸ‘‡
APR (annual percentage return) is the annual rate of return *not* taking into account effects of the compound of interest

APY(annual percentage yield) is the annual rate of return, taking into account the effects of the compound of interest.

APY>APR
It's better to calculate your returns on investment using APY, while APR is more common in lending

Eg, a yield farming program offers APR of 100%/yr. You deposit $1000. A year later you'll receive $2000, where $1000 is the initial capital and $1000 is APR
Read 6 tweets
Oct 14, 2021
Let's talk about @NexusProtocol. Was a bit skeptical on the sustainability of its yield, but after some dd, I'm bullish af! πŸ‘‡πŸ‘‡πŸ‘‡πŸ‘‡πŸ‘‡
What does Nexus do?

You deposit a basset like $bLuna or $bEth into a Nexus vault. In return, nexus gives you $nLuna or $nEth representing your share in the vault.

With your basset, nexus borrows $ust and manages LTV based on the activated mode
To know more about the different modes, read this


Moving on πŸƒπŸ»πŸƒπŸ»πŸƒπŸ»
Read 17 tweets

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