Thorchain

A Layer1 DEX Fund is being set up to invest in ecosystem teams such as THORChain, Chainflip, Maya Protocol, and SeraiDEX. This initiative aims to leverage the strong potential of the cross-chain collaboration. Those interested can send a direct message for more information.

Thorchain highlights a successful $1 million swap executed at 3 basis points, showcasing the platform's efficiency as a global settlement layer for native assets. The platform aims to continue improving with features like trade accounts, order books, and rapid swaps.

The value of corn has risen to $54k, resulting in an increase in native BTC in the THORChain Pool from ~480 to ~1,260. THORChain is solidifying its position as the native BTC Rails.

THORChain announced they will enable native withdrawal of RUNE in the next few days. Bybit has purchased approximately $8m worth of RUNE to reimburse users after realizing the BEP-2 version is worthless following client withdrawals and complaints.

Lending caps are at 91% capacity currently. Next week, an additional 20 million RUNE worth $110 million will be added to the space. Exciting times ahead for Thorchain!

In a recent announcement, @THORChain shared that the platform has reached a new milestone with a total borrowed amount exceeding $10M, specifically totaling $12,824,256. This achievement comes after the previous milestone of $5M was reached 2 months and 16 days ago.

Thorchain is set to introduce several new features including raising the lending cap, Memoless, Orderbooks, Perps, and integration with Solana. The goal is for Thorchain to become the largest and most equipped DEX with complete CEX feature-parity by the end of the year.

In the next network upgrade, Thorchain will burn 60m RUNE to create space for lending, onboarding a minimum of $100m in new collateral for monetisation. Borrowers will enjoy a 50% LTV loan with no liquidation. The system is expected to double in TVL and quadruple in price action as it expands.

THORChain issued a reminder that BEP2 integration will be removed on February 29, 2024. BEP2 LPs and Savers need to remove their positions as soon as possible, as there is no guarantee their assets will be automatically returned. BSC LPs do not need to take any action as BNB Smart Chain will continue to exist on THORChain.

A proof of concept was shared by @THORChain about a Lending Looping contract where collateral is put in, debt is received with TC aggregation and then re-deposited as new collateral. This concept specifically applies to Ether as debt.