Recording of the Thorchain Space: Rising Like a Phoenix

TCY UPDATE: Everything is looking really good! All test performed so far have been a success! https://x.com/AaluxxMyth/status/1913736135471223224

https://x.com/JaneDButterfly/status/1912108317532705156 RUNEBond app beta launch! It provides an avenue for NOs to list their bonding requirements while RUNE holders easily do "shopping" to look for a NO to request for bonding!

Updated: Recording of the space THORChain Current Events - Marketing and Bonding Rune UI Now includes part 2 (THORChain Space, post RUG XD: https://t.me/thorchain_org/718588) (Converted to mono, long(er) pauses shortened, some speakers' volume raised.)

TCY hopefully coming at the end of April! It is submitted for review :) https://x.com/AaluxxMyth/status/1908306491443937415

https://x.com/i/spaces/1mrGmPlVypMKy Space with code hans from Rujira and JP !!

BOND YOUR RUNE! LETS GO! 🚀🚀 https://x.com/patriotsounds/status/1900672772860494046?s=19

We empathize with THORFi/LP users affected (many of us mods are also affected) by the THORFi wind-down. We understand that many need a place to express your feelings. We will not censor such “genuine” posts. But there is a line between “THORFi Users expressing feelings” vs “Intentional/Baseless FUD”. Yes, THORChain as a protocol is permissionless; but that doesn’t mean this Telegram is totally permissionless. It is illogical to expect this Telegram to just accept intentional/baseless FUD.  Folks are free to criticize and debate TC designs, direction, etc. But again, there is a line between constructive criticism vs intentional/baseless FUD. Moving forward, we will enforce mutes/bans more rigorously towards any “Intentional/Baseless FUD”.

Alright guys, we've said all the words multiple times regarding the THORChain swapping situation. 😄 We're having a space on Saturday (USA Timezone) 12 est. Let's have a discussion and figure this out! 🤝 Please share this space and please attend! We are problem solvers, so let's do what we do best. ;) https://x.com/KentonC137/status/1895255018347078073?s=19

Hi everyone, The Rujira team has created an Amplify channel to amplify content and spread our message across the crypto industry. Together with the Rujira, Vultisig, and Maya communities, this is a great opportunity for us to work together and spread our shared vision. If you’d like to contribute, whether it's by amplifying others’ content or sharing your own THORChain, Rujira, Vultisig, or Maya content, come and join us! - You can join the channel via this link: https://t.me/+NXVVJqdTtIUzODc8 - Check the pinned message for a Notion document on best practices for engagement, plus a Figma file with branding materials Let’s show the world together where the future of finance is happening!

This is the audio file of the latest X Space with Rujira that has had thousands of listens! Very exciting things are happening soon!

My new THORChain update video is out! It covers general updates, what is coming and THORFi. Get the TLDR in one video. https://youtu.be/Vigy8uxTt1c

This is the latest space regarding TCY implementation and various other aspects. This is 45 minutes and covers a lot of ground https://rss.com/podcasts/thorchain/1894103/

Original problem described in: https://t.me/thorchain_org/695258 Accepted proposal : https://gitlab.com/-/snippets/4801556 Solution currently being implemented: https://gitlab.com/thorchain/thornode/-/issues/2152 Current status: https://x.com/therunetard/status/1888722500978438175

Gitlab for Prop6 released: https://gitlab.com/thorchain/thornode/-/issues/2152

https://x.com/familiarcow/status/1886843081376362946 I also just tweeted it out in case people start asking or FUDding. Shouldnt be long to get these fixes live. We just met with their engineers today to go over everything needed

Good video on the THORChain proposal featuring Aaluxx the author himself: https://x.com/THORChainUni/status/1886097872174961094

This is the audio of the lengthy space we did. This community came together and figured out a plan in record time. Audio of the space. Mono, pauses removed. Host: @patriotsounds Co-Host: @KentonC137 Speakers: @cryptoarnold420, @THORChainUni, @proof_steve, @BooneW, @kvreem, @ImpossibleHunt77, @Fortune_Hunting, @gionioFR, @AaluxxMyth, @zeymermontes, @WeiDai6502, @paperX_Art

A proposal has passed for the unwinding of ThorFi (Savers & Lending) https://gitlab.com/-/snippets/4801556.

I wanted to clarify this on the space: https://t.me/thorchain_org/701878

We got this guys, please share this post by Kenton. We did THORChain spaces for like 3.5 hours. We covered absolutely everything. If you want the end watch the 2nd space. https://x.com/KentonC137/status/1885915557591121927?s=19

https://gitlab.com/-/snippets/4801556

Interesting proposal by THORWallet dev https://x.com/crypto_XZ/status/1885753443601547275?s=19

Ninerelams update : https://x.com/ninerealms_cap/status/1885743387862556981?s=19

The TLDR for TCB 1. Snapshot Debt in USD Terms: o Calculate debt at the time of the pause in USD. o Create and distribute a claim token called $tusd at a 1:1 asset-to-token ratio, claimable by deposit wallets. Coverting the debit. 2. Unwind Module & Revenue Allocation: o Remove the current burn mechanism. o Allocate 10% of system income to a new Unwind Module to market buy $tusd claims regularly. 3. Retire ThorFi: o Convert all synthetic assets to LP units and lock them. o Force exit RunePool participants by selling the associated POL position back to RUNE. o Gradually retire the POL over a 60-day period, effectively acting as a $RUNE buy from the pools. 4. Create a Claim Process & Orderbook: o Implement a claim interface where creditors can claim their $tusd by signing with their native Thorchain wallet. o Establish an orderbook for creditors to sell their claims, serving both primary and secondary markets. 5. Market Buy Manager: o Automate hourly market purchases of claims from the orderbook using Unwind Module funds. 6. Code Simplification & Protocol Cleanup: o Once there is over $1M in unclaimed market order bids for a month, burn any remaining $tusd tokens. o Remove all associated code for claims, $tusd tokens, POL, and ThorFi to prevent future maintenance and security risks. 7. Final Protocol Transformation: o Thorchain returns to being exclusively a DEX with no financial instruments at the protocol layer. JP also has a proposal at https://gitlab.com/thorchain/thornode/-/issues/2143. Differences between TCB and JP's proposal 1. Not lottery based 2. Users get price at time of freeze 3. Force ejects all RUNEPoolers 4. No discounts on offer 5. Includes changes to LP design (move away from passive LPing to a V3 model) and block time to boost revenue 6. Forces POL back into reserve, taking that RUNE off market You can see more proposals in the dev discord.

https://gitlab.com/thorchain/thornode/-/issues/2144

TLDR: Nodes have voted to pause Savers withdrawal and Lending redemption. Swaps and LP deposits/withdrawals are not affected. Please read the below thoroughly: - Initial announcement from 9R on Dev Discord: https://t.me/thorchain_org/691364 - Spaces recording between Kenton & PatriotSounds: https://t.me/thorchain_org/694310 or https://t.me/thorchain_org/693863 - Tweet from JP: https://t.me/thorchain_org/692187 - Good post by Erik Voorhees summarizing the situation: https://t.me/thorchain_org/692211 - Commentary from TCB: https://x.com/1984_is_today/status/1882677133795062038 1- Please don’t ask repeat questions when it’s obvious you did not read the pinned messages above. 2- There are lots of discussions for path forward on Dev Discord. Feel free to read there if interested. Any significant important developments will be shared/pinned here once announced. 3- Any obvious baseless accusations, useless speculations, personal attacks and vulgarities will be muted, warned, or banned without further notice.

It appears Ledger now supports THORChain app in the catalog. You no longer need developer mode and experimental features https://x.com/familiarcow/status/1879774652870144312?t=jR9vnYHO9uw0j5UfRrOkHA&s=19

We could really use your help to promote SwapKit (and thus THORChain’s crosschain swaps) to ELLIPAL and Coin98! Both already have swaps, so they know they can earn money from it. Need to tackle it from the decentralised/ no-KYC / no geo-restrictions/ no swapping limit angle :) They know we exist, they just need a push from the community! ELLIPAL: https://x.com/ellipalwallet Coin98: https://x.com/coin98_wallet Thanks a lot guys!!

Quick summary of events on 9-Jan-2025: An OG Dev initiated a timeout (via Admin Mimir) for all Savers & Lending withdrawals for six months. After 6.5 hours, three nodes reversed those settings via Node Mimir. All Savers & Lending withdrawals are enabled at the moment. There were some Lending Withdrawals (around 10% of BTC and 1% of ETH collateral) within 12 hours since, so this led to some of the price action. But obviously price action is also / much more affected by broader market demand/supply/sentiment. Please keep all price talk on Traders chat. Note that Admin Mimir has already limited functionality, and will be fully removed in upcoming update. Cc @Sweetman15 @IsmailAxhami @CharlesHarperValero

Announcement: All Savers deposits temporarily halted (in preparation for Base, which will have no Savers/Synths at all). Withdrawal still as normal.

https://x.com/THORChain/status/1877031633200775447 THORChain Annual Report for 2024 has been released! Please read & share! Full article and Q4 report is posted on Medium https://medium.com/thorchain/thorchain-2024-year-end-report-q4-report-737725c7b89e Best way to make sure you never miss any important news is to subscribe to email notifications on Medium

Update

For anyone who wants to speedrun everything that happened in 2024, here is a thread with the last 6 months of $RUNE RECAP 🙂

https://x.com/codehans1/status/1874105354457669752?t=ddv6JP2S3PPOW9XYfqNhqg&s=35

we’re shipping Base a week from today

https://x.com/cryptoismyjam/status/1873812086482252070

https://x.com/cryptoismyjam/status/1871259123003646239

https://x.com/thorchain/status/1871225377697435698?s=46&t=GV8UkgbuuUMw737T-3VKuA THORChain is now supported in Keplr Wallet

Last week, THORChain underwent a major upgrade with the release of v3! Discover what this means for the future of cross-chain DeFi by reading the full article. https://medium.com/thorchain/thorchain-v3-release-659b700d7099

Hey guys! Tomorrow 12 pm Mountain Standard Time (we rolled it back one hour 🚀) Cross-Chain & Chill! Going to have a bunch of different ecosystems and we will be chatting about all the fun stuff happening! https://x.com/patriotsounds/status/1870294812538307028?t=oRgXDiARcA8FYWkdt9E6Kw&s=19 And THEN, make sure you set a reminder for our THORChain yearly recap with Familiarcow, Pluto and Eridanus on Monday! https://x.com/THORChain/status/1869816947329937597?t=UTAt6ENFkjlMkyDWvobzqQ&s=19

⚠️ Warning: there is a fake scam site that ripped off the THORChain landing page and added a "Rectify" button. DO NOT VISIT. BEP2 and ETH $RUNE are fully sunset - there is no way to "rectify" aka upgrade to Native $RUNE. Anyone who tells you otherwise is scamming you.

🚨🚨HEADS UP!🚨🚨 We are going to be having a big DeFi space, "Crosschain & Chill", on Saturday the 21st, UTC +8! It will have people from various ecosystems there! Just good vibes and sharing the latest and greatest stuff happening! Hope to see you guys there! :D https://x.com/patriotsounds/status/1869173279325655317

https://x.com/cryptoismyjam/status/1868475396012056694

Announcing THORChain-powered swaps are now live in Bitget Wallet ⚡️ Powered by SwapKit https://x.com/thorchain/status/1854528266897629281

My THORChain October update is now out https://youtu.be/AHZSZ-eS0QQ

https://x.com/Ledger/status/1848407477458722894 🚨Ledger Live is starting its rollout of THORChain as a swap provider🚨 The only decentralised provider offering BTC, ETH, and Stablecoin swaps, as well as better swap rates than any of the centralised swap services. This collaboration has been years in the making and will be rolling out to all ledger users over the next month, powered by SwapKit

The Q3 Ecosystem report has been released on Medium https://x.com/THORChain/status/1843371675582337163 https://medium.com/thorchain/thorchain-q3-2024-ecosystem-report-1b048fe55141 Make sure to follow and subscribe to email notifications from Nine Realms & THORChain on Medium so you don't miss the most important protocol updates & quarterly reports

Hey guys! We are starting a new initiative where we are reaching out to various wallets and interfaces that have not yet integrated crosschain swapping features. We are going to be targeting new groups of wallets every week and we would love to get our communities involved! We have had GREAT success with this before and now we want to make it a regular and structured strategy! These efforts will make our ecosystem thrive even faster as we continue to pile on the integrations! So get in here and LFG! 🔥 https://t.me/crosschaincrusaders

Welcome 👋🏻👋🏻 REMINDER: Admins/Mods will never DM or call you first Website: http://thorchain.org Docs: https://docs.thorchain.org/ Community produced THORChain educational videos: https://youtube.com/c/GrassRootsCrypto 11-min GRC intro video: https://youtu.be/mZwzmnSbEcU?si=3IDGZHz3zL8FzEd3 2.5-hr intro video: https://youtu.be/IVPCGkWW4oo?si=_Tfh-0tdhck_IvO7 Relevant ecosystem links: https://linktr.ee/thorchain Community Discord server: https://discord.gg/tcuniversity