Thorchain

**THORChain's Q3 2024 Overview** has been released by @reflexivityres, providing insights into the decentralized liquidity protocol's performance and developments. Key points: - Analysis of THORChain's recent achievements - Overview of network metrics and growth - Discussion on new features and upgrades - Examination of market trends and their impact This report follows the Q1 overview published earlier, offering a comprehensive look at THORChain's progress throughout the year. For those interested in decentralized finance and cross-chain liquidity, this overview provides valuable information on THORChain's role in the ecosystem.

THORChain is making waves in the cryptocurrency world by bringing decentralized finance (DeFi) capabilities to Bitcoin. This move is set to challenge existing decentralized exchanges (DEXs) that don't support native BTC transactions. Key points: - THORChain enables DeFi functionality for Bitcoin - DEXs without native BTC support may face difficulties - Cross-chain functionality is becoming increasingly important Despite ongoing discussions about a Bitcoin DeFi renaissance, awareness of THORChain's capabilities remains relatively low among Bitcoin enthusiasts. However, this is expected to change rapidly as more users recognize THORChain's advanced position in bringing DeFi to native BTC. **The future of DeFi appears to be cross-chain**, with THORChain leading the charge in Bitcoin integration.

THORChain maintains its decentralized and capture-resistant nature through a regular 3-day cycle: - **Validator Rotation**: New validators join while underperforming ones are removed. - **Vault Renewal**: Fresh vaults are established. - **Fund Migration**: 100% of assets are transferred to new addresses. This process ensures: 1. Network dynamism 2. Fair participation 3. Enhanced security By consistently refreshing its infrastructure, THORChain safeguards against centralization and potential vulnerabilities, upholding its commitment to a robust, decentralized liquidity network.

THORChain has implemented a significant protocol change: - **RUNE tokens are now burned with every swap** - This decision was made by node operators and implemented by developers - The change follows a previous vote to burn 60,000,000 RUNE - Burned RUNE becomes collateral buffer, enabling $100m+ more collateral - This allows for $100m of BTC and ETH loans at 200% Collateralization Ratio This update marks a major step in THORChain's evolution, potentially impacting token economics and protocol stability. Users and investors should monitor how this affects liquidity and trading dynamics on the platform.

SwapKit, the backend infrastructure for THORSwap, a decentralized liquidity protocol facilitating swaps, earning, and borrowing across multiple blockchains including Bitcoin, Ethereum, BNB, and Cosmos, is currently hiring developers. The company is seeking talent interested in disrupting the centralized exchange (CEX) space.

THORChain, a decentralized layer-1 liquidity protocol, has achieved a 3.4% share of the total decentralized exchange (DEX) volume as of May 2, 2024. This represents a substantial increase of over 10 times compared to the previous year, indicating significant growth and adoption of the protocol.

THORChain, a decentralized liquidity protocol, has announced the upcoming addition of a new Wrapped SOL pool on the Avalanche network. This move allows users to swap, earn, and borrow SOL tokens on THORChain's cross-chain platform. To launch a new pool, a minimum contribution of 10,000 RUNE tokens is required from the community.

XDEFI, a decentralized liquidity protocol, has announced an upgrade to its swap functionality powered by SwapKit. This integration aims to provide users with access to a wider range of long-tail assets and improved DEX aggregation capabilities, while maintaining the simple swap experience within the self-custody wallet extension. The update promises to enhance the overall user experience and expand the trading options available on the platform.

On April 26th, 2024, THORChain facilitated the largest swap to date, unwrapping 114 WBTC (Wrapped Bitcoin) to native Bitcoin. Remarkably, the streaming swap execution achieved a price within 5 basis points, despite the pool depth being only 86 WBTC, smaller than the swap itself. This demonstrates the efficiency and liquidity provided by THORChain's decentralized liquidity protocol.

Trust Wallet, a popular cryptocurrency wallet, has introduced a new feature that allows users to exchange Bitcoin directly from their self-custodied wallets without requiring permission from any third party. This development aligns with the core principles of Bitcoin, enabling truly decentralized and permissionless transactions.