"We were looking for a Layer 1 blockchain that connects all blockchains together and THORChain thus far seems to be the best solution" - John from True Ventures
In a recent episode of Kevin Rose's Modern Finance Podcast, THORChain, Thorstarter, and THORSwap got several important mentions.
Joined by guests John and Feyyaz, Kevin Rose takes a deeper dive into THORChain ecosystem and also discuss the upcoming THORSwap ($THOR) IDO.
Transcription of the relevant quotes shared below.
Rose: Tell us what you found
Feyyaz : Something that I am looking at is Thorstarter which is an IDO or a lauchpad for the THORChain Ecosystem.
The cool thing about it is that there is an upcoming IDO (Initial DEX Offering) for THORSwap.
THORSwap is an interface for interacting with THORChain. They will release a token that would give you part of the trading fees and part of the swapping fees.
It's not a big raise. It's about 750k and $300 cap per person.
I also believe that the $THOR token you would get would be quite valuable.
Rose: I'll let John talk about more about our THORChain investments as well.
John: Full disclaimer. We are seed investors in Thorstarter and THORSwap.
We were looking for a Layer 1 Blockchain that connects all Blockchains together THORchain thus far seems to be the best solution to do a Bitcoin to Ethereum Swap, and bridge those two or more Blockchains together.
Feyyaz: I honestly didnt know you were already invested in this but that's like a sign of approval.
Participation in the $THOR IDO begins from the 1st of November.
Rose: Mention two things that interesting about Thorstarter.
John: $XRUNE which is the native asset of Thorstarter is basically focused on bringing additional liquidity to the THORChain ecosystem.
So it would pair with another ERC-20 asset or any other asset that wants to get access to THORChain's cross-chain liquidity.
So you can imagine a pair with say SUSHI on Ethereum.
This can easily gain access to THORChain's liquidity.
They are also becoming sort of the gateway to a bunch of cool projects including Terra projects.
Rose: What is the promise and what is unique about Thorchain?
John: THORChain is a fully decentralized cross-swap platform.
So in a simple way, your BTC can swap to ETH for example without an intermediary like Coinbase or Binance.
Rose: Any updates on security?
Feyyaz: The protocol had a series of major hacks quite a few months ago.
All chains are live after the major bugs were fixed. And now cap raise is the focus.
Feyyaz: Another reason why THORChain is important is as below:
We have seen what happened to Uniswap with the S.E.C where they were asked to remove specific tokens.
The beauty of THORChain is that it's completely decentralized and the team as far as I know is completely anonymous.
This opens up an interesting angle for people who just want to trade completely decentralized.
The full episode can be found on Spotify (segment starts ~19m).