#THORFi is coming ⚡️
Here's your breakdown of THOR.USD, #THORChain's algorithmic stablecoin.
A thread🧵👇
Here's your breakdown of THOR.USD, #THORChain's algorithmic stablecoin.
A thread🧵👇
2. THOR.USD is an algorithmic stablecoin pegged to USD.
Here's a quick explanation on the different types of stablecoins:
Here's a quick explanation on the different types of stablecoins:
https://twitter.com/Cov_duk/status/1499822143621656576
3. $RUNE is burnt to mint THOR.USD and THOR.USD is burned to redeem $RUNE.
A fee is paid to mint or redeem to prevent attacks.
A fee is paid to mint or redeem to prevent attacks.
4. The median price of USD is computed through Anchor pools that already exist.
These pools consist of $USDT, $USDC, $UST and $BUSD.
Down the line, more pools may be added. These pools will anchor the price of Thor.USD to the dollar.
These pools consist of $USDT, $USDC, $UST and $BUSD.
Down the line, more pools may be added. These pools will anchor the price of Thor.USD to the dollar.
5. Given that #ThorChain watches over these anchor pools already, it will know if the markets are being manipulated. 
6. #THORChain guarantees on chain liquidity through the USD-RUNE pool.
This USD-RUNE pool does not have any LPs, all balances are virtual.
The $RUNE quantity in the pool is not counted against network security
This USD-RUNE pool does not have any LPs, all balances are virtual.
The $RUNE quantity in the pool is not counted against network security
7. This virtual pool ensures deepest stable pool in the network and therefore the cheapest stable by fee.
Both $RUNE and Thor.USD do not actually exist in the special virtual pool, it is only there to convey the burn and mint prices.
Both $RUNE and Thor.USD do not actually exist in the special virtual pool, it is only there to convey the burn and mint prices.
8. Fees collected will be added to the Thor.USD vault.
Using ThorChain, Thor.USD can be easily used with other chains. Just like the RUNE -USD pool, there exists other virtual pools for Thor.USD and other assets.
Using ThorChain, Thor.USD can be easily used with other chains. Just like the RUNE -USD pool, there exists other virtual pools for Thor.USD and other assets.
9. Fees collected from these pools are added to the Thor.USD vault, thus increasing yield.
10. #THORChain accounts to follow:
@crypto_stevie @ChadThoreau @ConwellsClub
@JaneDButterfly @THORmaximalist @THORChain
@AkuRypto @itsloganshippy @RuneMaxi @GrassRootsio @crypto_magix @BitStern
@THORWalletDEX @Mastermined710
@THORChadsDAO @0xSmith
RT would mean a lot!
@crypto_stevie @ChadThoreau @ConwellsClub
@JaneDButterfly @THORmaximalist @THORChain
@AkuRypto @itsloganshippy @RuneMaxi @GrassRootsio @crypto_magix @BitStern
@THORWalletDEX @Mastermined710
@THORChadsDAO @0xSmith
RT would mean a lot!
11. #THORChain accounts to follow:
@TheRuneRanger @CBarraford @CryptoVillain_
@Bull_Sander @Asian0xV @TehSlaw
@NicolasFlamelX @crypto_magix @RimaSabila
@THORChainLPU @Jatinkkalra @THORNOOBs @runebase_org @thorstarter @m0nkey_space
@Cryptofriendlyy
RT would mean a lot!
@TheRuneRanger @CBarraford @CryptoVillain_
@Bull_Sander @Asian0xV @TehSlaw
@NicolasFlamelX @crypto_magix @RimaSabila
@THORChainLPU @Jatinkkalra @THORNOOBs @runebase_org @thorstarter @m0nkey_space
@Cryptofriendlyy
RT would mean a lot!
12. I hope this was insightful, a retweet would mean a lot!
More #THORFi breakdowns coming your way, follow to keep up.
Here are some of my past threads:
covduk.notion.site/4798517af2944e…
More #THORFi breakdowns coming your way, follow to keep up.
Here are some of my past threads:
covduk.notion.site/4798517af2944e…
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