Thorchain

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.

A single DEX provides 95% of BTC's on-chain volume, and THORChads encourage the diversification of volume across 3-4 major DEXs to dismantle centralized exchanges.

As of November 6th, 2023, the Thorchain community has seen significant growth with over 6200+ Savers and $43m+ in Savers liquidity. Over the past year, the community has earned $1m.

The incentive pendulum will adjust rewards based on the deviation between the total value bonded and the total value pooled. Currently, LPs earn over 2/3 of all liquidity fees and block rewards, which are split among Dual LPs and Savers.

Recently, some large streamers executed trades on THORChain at around 99.7% price execution. This trend reflects THORChain's increasing popularity as the go-to platform for large trades. As liquidity continues to improve, streamers can expect even faster execution times.

THORChads, the Thorchain community, are primarily focused on security, liquidity, and volume. Security measures include Node Bond, Churning, Code, and TSS. Liquidity is driven by Total Value Locked (TVL) from Savers and LP, while volume is increased through wallet integrations. In related news, 100 million $RUNE ($213M) has been bonded by nodes, securing $79.5M in assets such as Bitcoin, Ether, and Stablecoins, demonstrating THORChain's commitment to economic security and honest participation of validators.

Lends.so has announced that streaming loans are now available. With streaming, fees are significantly reduced, allowing borrowers to save on fees and receive more collateral when borrowing against Bitcoin or Ether.