🔗 Unlocking the Potential of THORNames in THORChain! 🔗 THORNames are a incredible feature but a bit overlooked within the @THORChain protocol, allowing users to associate memorable names with their blockchain addresses, streamlining transactions and interactions! 🌐 🔑 Key Features & Insights: User-Defined Aliases: Securely stored on the blockchain, offering unparalleled security and user control. 🛡️ Transferability & Flexibility: THORNames can be transferred between THORChain addresses, offering unmatched flexibility. 🔄 Memo Shortening: Overcomes size limitations, aiding in specifying user actions like trades and withdrawals. 📄 Preferred Asset for Commissions: Enhances income opportunities by allowing users to specify a preferred asset for receiving affiliate commissions. 💰 Integration & Adoption: With inherent connectivity to major blockchains, THORNames support a wide range of DeFi products and are poised for widespread adoption. 🚀 💭 Deep Reflections & Speculations: THORNames could be an important actor in DeFi. The ability to use recognizable text across multiple blockchains is a significant enhancement. Given that THORChain is almost unique in its kind except for @Maya_Protocol at the moment, THORNames could become a standard in decentralized exchange platforms, opening up avenues for innovations and new integrations 🌟 THORNames vs Unstoppable Domains: THORNames stand out as a superior option compared to Unstoppable Domains when it comes to wallet addressing. Unlike Unstoppable Domains, which requires persuading wallets to resolve their names, THORNames, integrated within THORChain, offer inherent name resolution, making the adoption process smoother and more intuitive.This inherent integration within a network connected to major blockchains positions THORNames as a preferable choice for users seeking convenience and efficiency. 🚨 Concerns & Challenges: Potential forks and the risk of name collisions pose significant challenges, necessitating consensus to prevent such issues and ensure the seamless functionality of THORNames across different blockchains. 🛠️ 👩‍💻 Integration Opportunity: For those interested in working with THORNames, @xchainjs offers a ready-to-use, open-source implementation, providing a seamless way to explore and build around this innovative feature. Dive into the world of possibilities with THORNames! 🌍 🤔 Questions & Possibilities: Could new functionalities spike sudden interest in THORNames? How can the community leverage THORNames for innovations in the DeFi space? Could developments around this feature lead to the creation of THORNames marketplaces or new integrations in various applications?

A thorchain wallet will not be required. It’s expected that UIs such as thorswap will generate the memo and provide the reference number. Either providing the specific amount and address to send to or as a QR code