[TCW03] THORChain Weekly AMA with XDEFI, Thorwallet, & Brokkr
Welcome back to another THORChain Weekly AMA, a regular Twitter Spaces event with members of the THORChain ecosystem, including Emile from XDEFI, Marcel from Thorwallet, and Lukas & Michael from Brokkr.
0xNguyen
Welcome back to another THORChain Weekly AMA, a regular Twitter Spaces event with members of the THORChain ecosystem, including Emile from XDEFI, Marcel from Thorwallet, and Lukas & Michael from Brokkr.
This will be an opportunity for members of the community to hear news about protocol updates announcements from the core team and ThorSec, as well as ecosystem projects and other community members to share their own updates.
Summary of the AMA
Participants -
XDEFI: @goitbykojiro
Thorwallet: @marcelharmann
Brokkr: @UsiGoetz & @randomiser
Chit chat -
We will wait a few more minutes for more people to arrive and then startThorguards
In case you missed it, they will be revealing your ThorGuards today at 6 pm UTC
IDO weeks (XDEFI Wallet/Thorwallet)
Has anyone ever been to Portugal?
Intention for this TCW -
Hello, everyone, I am Archon and I have the honor of hosting today’s weekly THORChain chat.
Just to remind everyone: The live stream offers the THORChain community a platform to come together, hear updates from the core team, THORSec, etc, as well as give all ecosystem builders/devs and community members a place to share announcements and updates
But today is special - unfortunately, no one from the core team could participate today, so I thought it'd be a great opportunity to do an ecosystem-focused session and I am very happy to have 4 guests today for a panel discussion and individual updates: Emile from XDEFI (who will join a bit later), Marcel from Thorwallet as well as Lukas & Michael from Brokkr.
This just means we will carry over TC core-focused questions next time, all questions that I have received accordingly will be answered next week
But now let’s welcome today’s speakers! Could each of you give us a short introduction just in case someone doesn’t know you yet?
Short intro of the speakers
Agenda -
First I will give some general updates from the week
Questions to the panel
Updates from XDEFI, Thorwallet & Brokkr
Community Questions to the partners
Overall updates -
Node churn happened earlier today - the first time since July, leading to 3M RUNE as an extra bond. The new churn interval has been set to 3 days.
A huge development update published on Medium on November 8thwith fixes and torsec update that audits for all chains have been completed.
Whitelist implemented for ERC20 tokens.
Update on IBC integration with the conclusion that IBC is not suitable for THORChain, which absolutely requires economic assurances for its bridges.
Good news: Terra integration is still on the table - looks like the end of the year
Short summary of the treasury report -
The Protocol Reserves total 177M RUNE, worth $2.5bn
The treasury comprises $273M in total assets.
Treasury plans to hand over full control of the protocol, GitHub, socials, and its treasury around 8 months (~July 2022)
As part of Planned Obsolescence, it will be split up across ecosystem teams who are deemed responsible and can carry on the duties of the project. 5–10 treasuries are better than 1 treasury.
All security audits have been completed and all chains have been restarted with a bigger TVL due to several caps raises.
Approx. 67 THORNode and 2 Midgard updates have been deployed to MCCN & Whitelist implemented for ERC Tokens.
THORChain is now regularly putting out $50m volume days.
Let’s quickly talk about Terra as a new bridge (seems like and of the year is possible). XDEFI just integrated it recently. Do you have a few examples of what this will allow us to do?
What do you think about the newly announced THORSavings product, providing 20% APY on provided L1 assets?
What has been your review of the ongoing “IDO Weeks” till now (Thorswap, XDEFI, Thorwallet)?
THORChain as an IDO platform in addition to Thorstarter - pros and cons; many unanswered questions/tickets
Liquidity: Tokemak CORE 2.0 Voting and protocol owned liquidity. What are your thoughts on this what many call the results of “DeFi 2.0”.? Would THORChain benefit from both?
What kind of product/protocol or tooling do you think is still missing and should be built?
Protocol-specific questions -
XDEFI:
MM token
I really liked how you did the public sale whitelisting. How satisfied with the response to whitelisting for public sale?
Brokkr:
Synths
Roadmap Overview -
Next milestones:
Churn and Asgard Sharding
ETH v3 Router Upgrade
Activation of Synths
THORNames
New Bridges
Vault Nodes (formally Lite Nodes)
Community Questions -
When will the next raise the caps be and how big will it be?
When will the Bitcoin ledger supported?
What’s the visual roadmap?
CORE 2.0 is back up. What are the community's thoughts on this? Would THORChain benefit from this integration?
THORChain as an IDO platform in addition to Thorstarter - pros and cons; many unanswered questions/tickets
Can the Thorsec team provide some anecdotes/get into the weeds to explain what they're actually reviewing when a feature upgrade is with them for sign-off (i.e. the ETH restart)? I.e. What do they do that gets them comfortable to give the green light at their stage?
Ecosystem partners
XDEFI (Emile)
Update on product
Summary of the public sale progress
THORWallet (Marcel)
Explain IDO & ongoing vote
Brokkr (Michael)
We're working on a Testnet RUNE tool, where you can get 100 tRUNE with one click. The only other way right now how to get tRUNE is through the TG RUNE faucetbot and it's not a great experience
This will simplify the steps needed to test synthetics before the launch. We should be able to release it on Friday but will let you know how's that going
We expect that synthetics will go live around the end of November. At that time, Brokkr goes live as well.
It will be possible to do all the actions that will be available with synthetics: Mint, Swap, and Redeem.
Besides synthetics, it will be also possible to trade via THORChain pools.
A few days before the launch, we will do ABA - Ask BRO Anything, and that will be focused purely on synthetics, their use cases, possibilities, and the launch. But more info on that will come out later
![[TCW03] THORChain Weekly AMA with XDEFI, Thorwallet, & Brokkr](https://uploads-ssl.webflow.com/60a2ed6590cf1267ce534abc/61957a9a784a0b7f033d54d7_TCW-Episode-3.png)