Thoughts about THORChain’s Mainnet launch party 🎉

THORChain’s mainnet launch party was concluded a couple of hours ago. I attended it and learned a lot like always. There were many things to take away, the one blowing away peoples mind the most is the upcoming single sided LP feature.

I was able to understand more aspects of the single sided LP-ing feature THORChain is about release into mainnet. Once again, Thorchain proves that it is at the helm of innovation when it comes to DeFi.

One thing the everyone in crypto is weary of is impermanent losses when providing liquidity in DeFi protocols. How can one generate yield from single side LP-ing without exposure to another token?
Thorchain will solve this.

Theoretically, it would seem sensible to design a system that brings together two investors of different tokens and pair them together, but it’s been found to not be viable from security and economic point of view.

However, what will happen is that RUNE will be the settlement later of all trades, in that investors will deposit their tokens of choice, the protocol will automatically parse trades through RUNE, then the fees will be routed to the liquidity providers as rewards without exposure to Rune🤯.

This is another breakthrough in the world of crypto. It is economically sound and secure because of the role RUNE already plays within the ecosystem. This feature is still in the testnet and will be released around August all things being equal.

At the end of the day, THORChain is positioned to be the only place where one can Farm Yield by supplying their layer 1 tokens without wrapping or doing kyc. Imagine Celsius but decentralized, censorship resistant, economically sound and secure.

The future of THORChain remains exciting to me, I’m super stoked to be a part of this growth from the corner of my room.

I also got myself a POAP, it’s pronounced Po-ap….for attending. Today was my first time of hearing it. It’s an app connected to the ETHEREUM Blockchain, it’s like a record keeper of meaningful achievements, apparently it’s like saving your lives achievements on the blockchain, interesting stuff. Check what it looks like

Nice one eh! What are your thoughts?

If you’ll like to listen to the whole show here’s the link. I’ll have to listen to it over again myself…https://twitter.com/i/spaces/1BRKjnYojjwKw

For the main convo about Single sided pooling - 23:40

Lol at my network bar up in the screenshot. That’s what I have to deal with these days. For no good reason.

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