Single-sided yield for non-RUNE asset has been touted as the most desired feature needed on THORChain and its coming soon.
The code is complete for single-sided yield. Next, it gets deployed to stagenet for testing by the dev teams and the community. Once bugs are fleshed out, nodes vote to enable it on mainnet. How long this will take is hard to tell, depends on how many bugs are discovered. https://t.co/ohomvc1Ml6
— Chad Barraford (@CBarraford) August 30, 2022
Single-sided yield is simply about a user depositing an L1 asset in a single tx and earning yield on it in-kind. Then at a later time withdraw the L1 asset with the yield earned, i.e. earn $BTC on $BTC or $ETH on $ETH. With this system, there's no wrapping, no custodians, no complex UX, no price-exposure, no fake yield.
This change coming to stagenet in the next THORChain update creates the mechanism to payout rewards to yield-bearing synth holders.
THORChain puts the UX as follows:
Nine Realms has indicated they will be rolling out a testing plan shortly.
We'll be creating and rolling out a testing plan for single-sided vaults.
— Nine Realms (@ninerealms_cap) August 30, 2022
If you're interested in the upcoming public testing phase, DMs are open. https://t.co/sJnkn0A2tU
Onwards!
