THORChain Savers Vault Now Live

Kadesh

The highly anticipated Savers vault recently went live after nodes completed the latest upgrade.

Savers is live.

How does it work? Read below and ask questions.

1) L1 BTC goes into TSS vault
2) L1 BTC swapped to liquidity synth counterpart via the pool
3) BTC Synth locked in module
4) Yield from (2) paid to (3) every day
5) You can withdraw at any time.
— THORChain (SAVERS) (@THORChain) November 13, 2022

Savers Vault has been designed to be simple with no exposure to $RUNE:

User deposits BTC
BTC gets turned into liquidity pool
Pool does swaps and earns yield
Yield is paid back to the Saver and accrues up.
Saver can leave anytime back to L1 BTC

Users have to pay slip fees when entering or leaving a savers vault. Large transactions in shallow pools will incur large fees to save/withdraw.

Front-ends like THORSwap are already working on releasing the UI(THORSwap Earn) to accompany savers vault.

It’s a beautiful sight to see DeFi taking back a product that has been dominated by centralized companies: simple yield. @THORChain Savers Vaults are here. Transparent real yield on single assets.

Who’s ready for us to unleash the THORSwap Earn interface? 👀⚡️$THOR $RUNE pic.twitter.com/14UwG0Aowk
— THORSwap ⚡ (@THORSwap) November 13, 2022

Congratulations to all THORChads.