Thorchain

Thorchain's lending platform has experienced significant growth. Several new lending opportunities were opened in the past few hours.

Thorchain now offers a low-risk, low-return option for yield called Savers, and a high-risk, high-return option called Dual/Single LP. LPs insure the deposits of Savers and earn leveraged upside. Pools with high Synth Utilisation experience leverage if RUNE-ASSET performs, outweighing Impermanent Loss. The need for ILP is eliminated, reducing the protocol's long-tail risk. Thorchain aims to derisk as it matures and shift towards risk management.

Since the release of THORChain Mainnet in April 2021, the development team has been busy implementing various features and improvements. These include asymmetric liquidity provision, THORNames, delayed outbound transactions, automatic solvency checker, synthetic assets, ERC20 token whitelists, and more. They have also added support for multiple blockchain networks such as Dogecoin, Terra, Cosmos Hub, and Avalanche, among others. The team has made numerous bug fixes and optimizations along the way.

On 2023-11-13, Thorchain successfully completed a streaming swap that was larger than the pool itself with a 99.55% execution rate.

THORChads prioritize security, liquidity, and volume as they work towards achieving a $100bn protocol. Exchanges are now using TC for liquidity rebalancing without any additional encouragement.

As the value of $RUNE increases, the Thorchain network becomes overbonded, resulting in a shift of rewards towards liquidity providers (LPs). In the last day alone, LPs earned $450k in liquidity fees, while nodes received $165k.

The latest update in version 124 of THORChain introduces a new feature called Custom Refund Addresses. This feature allows smart contracts to use THORChain for swaps, with the ability to send refunds directly to the user instead of them being stuck in the contract address. Developers are now encouraged to utilize this feature and start building.

Thorchain (TC) is on a mission to become the world's largest decentralized exchange. With a current valuation of $10 billion, the project aspires to reach a market capitalization of $100 billion and eventually become known simply as 'THE Exchange' with a market cap of $1 trillion.

In the upcoming V1.124 release, Thorchain will introduce 34 improvements, with a notable one being Mimir V2. This update will grant full control of the protocol to nodes, removing the ability of admins to affect operational settings such as pauses.

A node vote is taking place to remove Impermanent Loss Protection (ILP) from all positions indefinitely. ILP was initially implemented to incentivize LPs and protect against IL, but with the introduction of Savers and the low-risk dual LP strategy, nodes have decided to eliminate ILP. The current ILP liability is less than 125k $RUNE, a small percentage of the Reserve. Nodes have waited for the liability to be near zero before making this change. The vote has been paused for 30 days to give grandfathered Liquidity Providers time to react.