0xSaigon

DeFI on THORChain: The Need of an App Layer THORChain has long held a unique position in crypto infrastructure, enabling seamless, decentralised cross-chain swaps between native assets like $BTC and $ETH. But despite this tech breakthrough, it faced structural limitations. Unlike Ethereum or Cosmos THORChain wasn’t built to support general-purpose DeFi applications. Still, native DeFi remains a shared dream among crypto enthusiasts, from Chads to core contributors. The mission: to build trustless, permissionless finance without bridges or centralised intermediaries. #ThorFi was seen as the answer, but it ultimately fell short. Now, all eyes are on @RujiraNetwork, the App Layer that finally brings that vision to life. ⤵️

This is what happens when you smack molten iron into the air with a shovel

If @RaoulGMI's "BTC/risk assets = Global M2 Liquidity * ~100 day lag" thesis is correct (which I believe to be true), then we are at the beginning of a brief rally-that-fails, leading to a small contraction, then a run back to new ATHs (beginning ~late April?)

32 years ago, Burger King started accepting credit cards. It rightfully frightened alot of people. Sort of like using crypto for payments today.

Switzerland doesn't look real – a thread 🧵 1. Many scholars believe that Tolkien's 1911 hike through Lauterbrunnen directly inspired the valley of Rivendell in The Lord of the Rings.

I'm down. Let's go 🚀

I loled

@1984_is_today What to make of the @worldlibertyfi assets in this case? Surely they have a line to Trump's thinking and are still buying.

By this logic, Uber vs. Lyft, Coca-Cola vs. Pepsi, Yankees vs. Red Sox should all be kumbaya around a campfire. F that. A good rivalry and some healthy competition is good for both parties & the market. Fuck flip. Let's tango.

ALTSEASON HAS ALWAYS STARTED IN FEBRUARY!!!

@Fakk2 @BooneW @jpthor @KyberNetwork @KrystalDeFi @StationWallet @weweswap @vultisig @RujiraNetwork Few of these projects have created any value for rune holders. @Fakk2 - let @BooneW cook. He’s asking the right questions.

@BooneW @jpthor His "participation" as you said is already there, how many time you slept? @KyberNetwork @KrystalDeFi @StationWallet @weweswap @vultisig @RujiraNetwork , etc. The list is as long as your arm! And it doesn't include his Nodes + $RUNE and $THOR bags. What more? His ass?

@jpthor Don't you remember how strongly you pushed Savers? Do you not feel any sense of responsibility to those who trusted you?

@1984_is_today @jpthor Facts.

@BooneW @jpthor Don't listen to the haters. Keep using your voice. I appreciate JP, AND he has his blind spots. You are right to surface them thoughtfully. The entire ecosystem benefits from healthy scrutiny and the open competition of ideas. Thank you.

Another lie from @jpthor in his proposal that "it's important we move quickly on": "over the life of the [Savers] ejection there is no new sell pressure." There is sell pressure, equal to 25% of the Saver's position (3) is ambiguous, but presumably means swap the RUNE portion of the position for the ASSET and then withdraw to ASSET chain. This is .5 (position) RUNE sell pressure. Because the Unwind Module has prior bought .5 (position) in RUNE, RUNE buy and sell pressure is net 0. However after (4), donating the UM's .5 (position) of RUNE to the pool unbalances the pool and creates an additional .25 (position) of RUNE sell pressure. Thus, net -.25 (position) in RUNE sell pressure "over the life of the ejection" In addition to this blatant misrepresentation, JP's proposal fails to address Synth Leverage in the pools - a huge source of TC's disfunction. Plus, as has already been discussed, his claim here that all Savers would be ejected in 5 years is ludicrous

We’ll be due for a rebrand after this… 😏

@dinosaurteef @tbr90 gif perfection

@tbr90 Amazing product with great cash flow that needs to fix its insolvency issue because it’s a ponzi.

@ChadThoreau Me? I'm the right combination of resilient, masochistic, and insane to stick around 😏

@0xSaigon What about yourself? Already out? 😅

Feel for the Kujira devs - first Terra/Luna, then the treasury implosion of their own chain, now THORFi debacle. Poor guys can't catch a break 😮‍💨

Bitter medicine, and we'll get through it. The sun will rise again for @THORChain. (Also - very grateful for @1984_is_today's leadership here. Thank you, ser ✊🏽)

@1984_is_today @THORChain Honestly - bitter medicine, but your involvement in the restructure & redesign is bullish.

@ShapeShiftCOO Agreed.

I am so fucking bullish. The market has nowhere near priced in where we are going next.