whydefi

@familiarcow Hysterical! this is why I use X.

thank you for your attention to this matter

@DustinGodevais @uurroosshh @THORChain I agree with this take and also with the concerns. At 10% it HELPS decentralization because small NO participate and solo NO don't. No leveraging. Let it trade at a premium and have others buy TCY

@uurroosshh @THORChain Think of it as a storefront for thorchain:native. Casual users can ease their way into the ecosystem and as their interest peaks and they want higher returns can decide to bond the old fashioned way. Win/win IMO

I truly hope there’s a common consensus in the @THORChain community that $bRUNE will become a liability if it’s not properly contained. It should be baked into the protocol to never allow $bRUNE loans or any kind of looping mechanisms. 1/3

@Jatinkkalra thanks for the detailed write-up. I became a Bond Provider during @KentonC137 #RaisetheBond campaign. It has been a great source of returns but clumsy (by design) and not easy. Regardless i also am bonding bRUNE. It's a great product.

$bRUNE yield comes with "no-lock period" - unlock your assets immediately whenever you choose. 🔹 Regarding the Yield Source: FYI, this yield was already being distributed to Node Operators on the largest native Bitcoin DEX. While bonding is the most profitable way to earn yield on $RUNE (with APYs ranging from 10% to 25%), it has remained inaccessible to most due to high minimum requirements. $bRUNE changes the game. ⚔️ 🔹 The Mechanism: A portion of $RUNE is distributed to various Node Operators, and delegators receive $bRUNE in return. $bRUNE yield is slightly lower than direct bonding due to Node Operator's commission (generally ~10%), and a 10-15% $RUNE liquidity margin maintained to support withdrawals. 🔹 The Net Yield Formula is: Net Yield = Gross Yield × (1 - Node Fee) × (1 - Protocol Fee) × Utilization Rate Note: Protocol Fee in this context goes to $RUJI stakers. Example: 25% gross yield × (1 − 0.1) × (1 − 0.1) × 0.9 ÷ 100% = ~18.3% APY 🔹 Risk Management: Only 10% of the total bonded amount can be minted as $bRUNE to prevent any systemic risk. @RujiraNetwork

@codehans1 @CapSparr0w @THORChain @RujiraNetwork Wow that's as good as the Anchor 20%. LOL, I don't believe that was real yield. Too soon?

> 25% permission-less, friction-less yield in a quiet market 🤯 Originated 100% from @THORChain volume, no pointless incentives or points programmes Made accessible by @RujiraNetwork Things are getting pretty exciting

@ImnotleavingE @jpthor A few features of the Rujira app layer reduce the need for deep liquidity in TC. The current POL may suffice depending on volume

@jpthor Why is burning good? Seems like a waste of working capital for a capital intensive protocol? Why not add it to POL? Would be great and usefull?

@volumemaker_ $ 47K volume on RUJI/USDC pair today on chain DEX. 10x CEX

🚨 Market Health Watch: $RUJI Rujira (RUJI) is showing real protocol activity as stakers are now receiving rewards from protocol revenue - with no inflation. That’s a strong signal for long-term holders and community confidence. 💪 But on the visible CEX side, the market still looks quiet compared to the fundamentals. 📊 24H CEX volume snapshot: • MEXC RUJI/USDT: $4,110.47 • Kraken RUJI/USD: $2,856.24 • Kraken RUJI/EUR: $62.33 • CoinEx RUJI/USDT: $2,158.34 Total visible CEX volume: $9,187.38 For active projects, liquidity depth, spread control, and order-book activity matter as much as fundamentals. Real revenue builds conviction. Healthy liquidity builds trader confidence. 📈

@khalkaz great article.

@markfromdenmar_ Thanks for the key info. I just added some. Now where is the right place to track the fair value of bRune as it accrues value.

People love access to $RUNE yield, but are still hesitant because 1) onboarding is still not intuitive for many 2) offboarding is uncertain because there is no telling when the node will churn out $bRUNE solves both Get yours now, cap is being reached fast with only 688k left

@JayRick1986 @THORCommunity @RujiraNetwork @THORChain yes, all revenue from Ruji is 50/50. only third party apps are not shared.

@THORCommunity @RujiraNetwork Is this included in the 50% revenue share with @THORChain ?

Custom Concentrated Liquidity (CCL) is live on @RujiraNetwork! Better arb. Better quotes. More swaps. More fees to stakers The App Layer → Base Layer loop has officially been ignited 🔥 Set up your first CCL strategy today 👇rujira.network

@PangchayCrypto @wagmidotglobal @RujiraNetwork good point. where can i find the fair value of the bRune / Run ratio. is there a dashboard that tracks the accrued price?

@wagmidotglobal @RujiraNetwork Check the brune/rune pair on rujira daily. I managed to convert all my rune for a tiny haircut. Ive probs already earned it back in yield

$RUNE bond providers and $TCY stakers are gonna eat well No inflation. 100% fees generated on the network Can't wait for the $bRUNE caps to be lifted so we can buy/trade/stake for this sweet yield on @RujiraNetwork

@alexeiZamyatin @THORChain Wait! You say "However, ignoring this problem will only keep DeFi niche and push retail users back to centralized exchanges..." So you think the problem is @THORChain? And not that you let a criminal come onto your platform and steal their money? They will blame you, not TC.

To be clear: I never said this was an easy problem for @THORChain to solve. My post merely states a fact: DPRK uses @THORChain as part of its money laundering flows — and certain members of the THORChain community seem to be endorsing this. If that is a desired outcome, why is the THORChain community complaining when people state these facts? My problem is specifically with endorsing illicit fund flows — even celebrating them. IMO, this is not what DeFi should stand for. I used to be a decentralization maxi for the longest time, coming from a 10+ year Bitcoin research background. However, I have come to see ("mature" one could even say) that decentralization must not be used as a veil to support crime. THORChain has a history of being centralized, with admin keys and chain halts, so it certainly raises questions about why nothing was ever done to prevent hacker funds from moving through the system. Even if the devs claim it is not possible today, it was certainly possible in the past. IMO, there should be an emergency pause or “slow mode” mechanism that can be triggered in situations like this. Other systems like tBTC — which meet similar, if not higher, decentralization standards than THORChain claims to have — have a “guardian” role for this purpose, afaik. Intent-based systems also have an advantage here, where solvers are able to reject giving quotes to hackers. Still not a perfect solution, but a big step away from inviting illicit funds. Ultimately, this is about willingness to act against clear cases of crime. It is a delicate question, no doubt. However, ignoring this problem will only keep DeFi niche and push retail users back to centralized exchanges — the exact opposite of what the entire DeFi industry is trying to achieve.

@realJoJo @jpthor And they are using the electric utilities to move this. Shut down the power grid???

@jpthor I wish they interrupt this tbh. We can't keep having money onchain stolen like this and laundered out of the space. It's terrible optics for most retail users.

@BooneW @KhanAbbas201 @THORChain And the Internet Service providers should have shut down the Web. How can they allow this?

@KhanAbbas201 @THORChain Yeah can't believe the ETH validators didn't pause the chain

@Houseofyogi @rtnarch Great story, but: 1) it's easy to make it sound like a bunch of dumb decisions when you know how it turned out. 2) I suspect the management and all of the board were hard core Republicans. Just saying it's "slight of hand" to infer they way you did. But I enjoyed the read.

Don't be IBM and fumble an 18yr head start on AI IBM was the most valuable company on Earth. Invented the hard drive. The PC. The floppy disk. The ATM. DRAM. SQL. The barcode. Most US patents 29 years straight. 405,000 employees. 70% mainframe market share. Today: $231 billion. 67th in the world. Anthropic. Founded 2021. Four years old. $380 billion. Every piece of the bag was fumbled... Invented the PC. Sold to Lenovo: $1.75 billion. Invented the hard drive. Sold to Hitachi: $2 billion. Server business. Sold to Lenovo. Basically nothing. Now the chips. This is pure comedy. IBM was the largest semiconductor manufacturer on Earth. Fabs in New York. Fabs in Vermont. 16,000 patents. They PAID GlobalFoundries $1.5 billion cash to take it. Gave away the factories. Gave away the patents. $4.7 billion write-down. IBM had American fabs. They paid to close them. And the same Democrats who scream about chips going overseas are the ones whose policies made it too expensive to build here. We wouldn't have TSMC/Taiwan issues today. Decisions have consequences. TSMC: $700 billion. Nvidia: $5 trillion. IBM paid to exit chips right before chips became the most valuable industry on Earth. Incredible timing. Deep Blue beats Kasparov. Live television. First machine to outthink a human world champion. IBM owned AI. Not as a buzzword. As a fact. On camera. In front of the whole planet. OpenAI did not exist for another 18 years. Anthropic for another 24. Nvidia was making cards so teenagers could play Halo. Google was two grad students sharing a dorm room. IBM had an 18-year head start on the entire AI industry. What did they do with it. They dismantled Deep Blue. Put it in a museum. Same mentality as every socialist (cough dems) who wants to regulate AI before it ships. Celebrate the breakthrough. Kill the follow-through. Watson wins Jeopardy. Destroys the two greatest players alive on national TV. Most famous AI brand on the planet. IBM spends billions on Watson Health. AI that cures cancer. Their engineers flagged it unsafe. Instead of fixing it they sold it for scraps. Then killed the brand entirely. Loser mentality. IBM Research. Decades of NLP work. The compute. The talent. The CEO looks at LLMs and says "no thanks." Two years later ChatGPT launches. 100 million users in two months. The entire economy reorganizes around the exact technology IBM looked at and said nah. That is like having Google's algorithm in 1997 and deciding to build a phonebook. The suits and the consultants took over. Same thing that kills every city, every agency, every institution that picks socialism over competition. $201 billion in buybacks over 25 years. More on buybacks than CAPEX. They could have funded every AI lab on Earth with that money. Instead they bought their own stock while the stock went down. Revenue down 22 straight quarters. Nobody fired. Name another job where you lose $95 billion in market cap and get a raise. Actually don't. That job only exists at IBM and in Congress. Buffett bought $12 billion in IBM. The greatest investor alive. Held six years. Dumped it on CNBC. "I was wrong." Put the money in Apple. Best investment in Berkshire history. They had the patents. The labs. The engineers. The brand. An 18-year head start on AI. Replaced the builders with bureaucrats. Chose buybacks over R&D. Chose administration over competition. Lost everything. Now look at who wants to run the same playbook on the AI economy. Bernie wants data center moratoriums. Tax the builders before they finish building. Ro Khanna represents $18 trillion in Silicon Valley market cap. Apple. Nvidia. Google. His district built AI. He just held a Stanford town hall with Bernie called "Who Controls AI: The Oligarchs or The People." Wants to tax unrealized gains. Pause data centers. Put unions on AI boards. Redistribute wealth that hasn't been created yet. His own district is trying to primary him. Not because he's too progressive. Because he's trying to kneecap the industry that made his district the most valuable zip code on Earth. That is IBM energy. Tax the engineers. Slow the builders. Add a committee. Wonder why nothing works. Gavin ran California from a $97 billion surplus into a $68 billion deficit. Lost 789 companies. Tesla. SpaceX. Oracle. Chevron. 200,000 people leaving per year. And he thinks he should have a say in how AI gets built nationally. The guy who can't keep In-N-Out Burger in California wants to regulate the most important technology since electricity. These aren't hypotheticals. This is the IBM playbook in real time. Replace engineers with regulators. Replace competition with committees. Replace building with administrating. And act shocked when the talent leaves and the lead disappears. IBM went from first to 67th. 1.43% a year for 28 years. A savings account beat that. Don't let them do it to America. Name a bigger fumble. I'll wait.

@leodexio @THORChain Sure, but they would have had to wait an hour. And whose time isn't worth 49mil/hr?

TRADER LOSES $50 MILLION 🚨 Don’t let this be you. Use a DEX that routes your trade to the absolute best protocol for that specific swap LeoDex.io does this and they would’ve paid 0.50% in slippage to do L1 swaps via @THORChain on our route selector Stay safu 🙏

@PittsburghHOF @VinnysCorner1 @aaronscott19 Larry Anderson I beleive

@VinnysCorner1 @aaronscott19 5 kickoff returns for 162 yards in Super Bowl XIV, if the Steelers win that game without the big Bradshaw to Stallworth TD he had a great shot of being named MVP.

Name a forgotten Steeler

@codehans1 @RujiraNetwork @THORChain @PragmaticMonkey But to be clear I think it's great that we are helping each other. Just surprised it worked out the way it did relative to the early debate. Press on!

@codehans1 @RujiraNetwork @THORChain Great article by @PragmaticMonkey but it also highlights two points. 1. The TVL limit on TC LP is self imposed to protect the LPers. 2. Rujira gave up 50% of its economics, in part, to gain access to TC TVL. Now it appears that Rujira is going to be bringing liquidity to TC. Hmm

Another gratuitous orderbook screenshot This time is a big one. You can see both the @RujiraNetwork CCL quotes (smaller ones), alongside the virtualized @THORChain quotes (two large with wider spread) 0.01% total spread Wonder what happens when those App & Base layer quotes overlap 😉

@RUNEBondApp @gigachad You have a great app. Big help to the ecosystem!

Hire a @gigachad node operator on @RUNEBondApp He works hard for you 24/7 You relax, touch grass 🌴 Profits? They’ll come to you on their own 💰 $RUNE

@codehans1 Thanks for the awesome post. So what is the best way a DeFi degen can support your vision? Where do you want liquidity, what should we stake? Where do we add volume?

PSA: I started here and I continue here in order to build products that make users’ lives better, create a fairer and more equal financial system, and most importantly build a system of ownership that can be accessed by those very same users. These principles are what drew me to build on Ethereum in 2016, drove me out in 2017 when ICO mania was its (first, as it turns out) complete antithesis, and was the single foundational demand I made when I re-entered the space and we founded Kujira in 2021. It’s been our north star ever since. It seems they’re being tested again. Let me be clear, we have the conviction, the tools, the runway and the mandate to finally see this through and I do not plan on going anywhere else. We are fortunate though, we have an incredible mission-led team, and a shared experience, history and learnings from the last ~10 years of building on blockchains, and the resources to execute. But tested they are. This isn’t some hype driven disillusionment like ICO mania, NFTs, hollow VC chains with inflated valuations, or meme coins. It’s easy to attribute those to hype, greed, the general human condition. Instead it’s a quieter, more insipid meta. Well respected teams selling out and abandoning token holders. Founders moving on without any regard to the communities and token holders that put them in that position. I understand that markets and times are hard these days. I’m sure for some forgoing those core values in order to stay alive is justifiable. Unfortunately as the proverb goes - the road to hell is paved with good intentions. However, through all of this, my original statement stands. We do this in the open, together, and for each other, or we don’t do it at all. We continue ⚒️