hydrosean ⚡️🥩🧈🍯♨️

Existing BTCfi ecosystem is fragmented, to an extent where it's too complicated for the end user to do more 😵‍💫 Persistence One COO, @dneorej highlighted a while back, what categorizes as a layer two, and how intent-based swaps could fix the cross-chain swapping experience 👇

Urgent proposal to acquire @THORChain and provide assistance to the holders and creditors. As the protocol serves as an open-source community-driven, true Web3 building project, this proposal will be transparent and accessible to the public. Unfortunately, we are witnessing the gradual decline of what was once a promising project. Instead of achieving great results and hitting a new ATH, the community was blindsided by $200M in toxic frozen loans, facilitated without any warning and made possible through the use of an admin key. Rather than concentrating on building Rune, the founder is pursuing nine different projects, leading to unclear strategies that raise numerous questions. WeWe / Deca Swap / Vultisig / WeWe Swap / Thor / Ruji / Vamp / YIELDI / TraitForge To prevent the current crisis, @jpthor needed to raise the large VC round by $50-100M, work on regulatory compliance, secure appropriate US network, and focus on @THORChain achieving 50-60% market fit along with Round C funding. Unfortunately, the project currently lacks any backers. In fact, the bank run has not yet started, but if it does, an amount between $5-10M could lead to a collapse in price similar to what happened in the Luna case. I understand that many supporters of the project are holding onto hope for a miraculous turnaround. "That's it, that's it, yes, that's it tomorrow." However, it's often more prudent to analyze the facts, figures, and current situation. Holders of the project are being misled, creditors are experiencing years of delays, and the founder is engaged in unclear schemes: x.com/ax1vc/status/1… The entire Thorchain ecosystem relies heavily on the generosity of @TrustWallet, who are outstanding builders and the largest provider. Previously, it was difficult to envision major new integrations for Rune. However, following recent events, we can only hope for a miracle. Meanwhile, competitors are actively seeking to penetrate the remaining top sites, and those sites themselves are considering hybrid models (like Exodus, which is incorporating a CEX component and plans further refinements). If @TrustWallet eventually decides to halt integrations or redirects volumes to a competing provider, we can only imagine the impact this would have on the price of Rune and the assets of its lenders. At the same time, @TrustWallet demonstrates the potential for scaling, having nearly surpassed the 200M user mark and achieving a MAU count comparable to top-tier fintech like NuBank, all while maintaining a solid reputation and avoiding big management issues. Our proposal is straightforward. We're offering a syndicated deal in which: 1) Trust Wallet will acquire THORChain (let’s set aside discussions about decentralization for now; particularly when you understand the details and nuances involved). 2) Funds will be disbursed to creditors immediately, financed by a pool of VCs led by YZi Labs (formerly @BinanceLabs). 3) @EowynChen will assume the role of CEO for both companies. 4) Rune -> TWT. 5) A portion of the protocol's revenue will be allocated to marketing support for the unified on-chain asset (with genuine marketing efforts, not painted Cybertruck). Results: a) Creditors will receive an instant refund with interest. b) Former RUNE holders will have a new asset that will consistently benefit from the protocol’s revenue, without relying on complex schemes. c) TWT and Trust holders will see strengthened valuations and multiples. d) Current contributors to the Thorchain protocol will receive bonuses, enjoy a stable future, and have the opportunity to safely develop the leading web3 product. e) Support from the family office of @cz_binance. Ultimately, this initiative will create the most reliable on-chain wallet with a swap provider in the industry.