Thorchain

THORNodes are responsible for running the THORChain protocol. Running a node is recommended for large borrowers who wish to ensure the terms on their position. Acquiring RUNE tokens and bonding in allows anyone to run a node, enabling them to campaign, dissent, approve, and publish new ADRS.

Over the last 24 hours, Thorchain has seen significant swapping activity with multiple transactions involving BTC. Despite the recent swaps, the community is encouraged to increase the size of their swaps, aiming for 1000 BTC transactions.

THORChain has announced the start of a streaming swap featuring 68.0 BTC ($4.7M) to ETH, with 299 swaps every 3 blocks. The duration is approximately 1 hour and 29 minutes plus outbound delay.

A community member successfully used Thorchain's native Bitcoin lending by putting in $527 worth of Bitcoin as collateral and borrowing 43 RUNE ($263 worth). The lending feature worked with the ShapeShift Bitcoin wallet but not with OKEx web wallet or Uniswap wallet. The member needs to pay $263 worth of any supported coin later to free up the Bitcoin collateral. Despite enjoying appreciation of both RUNE and Bitcoin, there was no liquidation, marking this as an important and new feature.

A $7m swap between BTC and ETH was executed on Thorchain using a XYK AMM. The swap was completed at 3 basis points slippage, showcasing the efficiency and flexibility of Thorchain platform.

A user conducted a 10 BTC swap test followed by a 100 BTC swap, marking the largest swap on TC platform. Thorchain delivered exactly what was quoted, demonstrating readiness for $10m swaps, and soon $100m swaps.

Thorchain offers a faster option for swapping 100 BTC to ETH compared to a Centralized Exchange (CEX). The process on Thorchain takes approximately 2 hours, but can be completed 3 times faster in theory, in just 40 minutes, as opposed to a longer waiting time on a CEX.

THORChain is prepared and operational, moving forward.

THORChain is prepared to handle increasing size and is ready to serve as required.

Thorchain (TC) benefits from onboarding exogenous capital with 50% staying in liquidity pools to earn yield. With an APR of 4-5% in the pools, borrowers have a lower opportunity cost, even with 0% interest loans. TC aims to onboard collateral safely, avoiding expirations or liquidations. The system requires RUNE:L1 prices to remain relatively stable, with a tolerance for 3x price changes. The borrower's focus is on L1:USD prices rather than tracking RUNE:L1 prices, often mirroring L1 performance against USD.