π³[TIP-010] Introduce THORSwap fees for Lending (Borrow)
Thank you to everyone who participated on on-chain voting for [[TIP-010] Introduce THORSwap fees for Lending (Borrow) https://snapshot.org/#/thorswapcommunity.eth/proposal/0x63c2d3820f2dacb1af0c95aa0d0d1579c5a535ff4f6c6c1a2d86b051f61fbfbb
With 6.5M (95.7%) of votes, the community is in favour of introducing an origination fee of 1% to THORChain loans on THORSwap.
The fee will be charged in a tiered format discounted based on size of loan and amount of vTHOR held. Up to remaining completely free for holders β₯500K vTHOR. There will be no fees charged for Loans under $100 value.
Fees earned will be shared 75/25 between vTHOR stakers and treasury as in-line with current swap fee structure.
The fee will be introduced once this THORChain update has been adopted: https://gitlab.com/thorchain/thornode/-/merge_requests/3425
Thank you to everyone who participated on on-chain voting for [[TIP-010] Introduce THORSwap fees for Lending (Borrow) https://snapshot.org/#/thorswapcommunity.eth/proposal/0x63c2d3820f2dacb1af0c95aa0d0d1579c5a535ff4f6c6c1a2d86b051f61fbfbb
With 6.5M (95.7%) of votes, the community is in favour of introducing an origination fee of 1% to THORChain loans on THORSwap.
The fee will be charged in a tiered format discounted based on size of loan and amount of vTHOR held. Up to remaining completely free for holders β₯500K vTHOR. There will be no fees charged for Loans under $100 value.
Fees earned will be shared 75/25 between vTHOR stakers and treasury as in-line with current swap fee structure.
The fee will be introduced once this THORChain update has been adopted: https://gitlab.com/thorchain/thornode/-/merge_requests/3425
π£ vTHOR/RUNE Liquidity Pool live on THORChain
A new $vTHOR pool has gone live on THORChain. This means users are now able to deposit $vTHOR/RUNE LP (Impermanent Loss applies) to earn yield as well as swap for $vTHOR directly as well as mint synthetic $vTHOR.
Be aware:
Pools are currently very shallow - only deposit LP if you are familiar with the process and risks involved.
$vTHOR trading discounts currently does not apply if you are LP-ing your $vTHOR
$vTHOR voting on TIP proposals are currently not supported if you are LP-ing your $vTHOR
Note:
$vTHOR price is determined by arbitrage to set the pool price of vthor, based on the real thor:vthor ratio and thor pool price
IL/balance changes in the vTHOR/RUNE pair does not affect vTHOR/THOR redemption ratio (which continues to scale based on the amount $THOR locked in the $vTHOR staking contract).
A new $vTHOR pool has gone live on THORChain. This means users are now able to deposit $vTHOR/RUNE LP (Impermanent Loss applies) to earn yield as well as swap for $vTHOR directly as well as mint synthetic $vTHOR.
Be aware:
Pools are currently very shallow - only deposit LP if you are familiar with the process and risks involved.
$vTHOR trading discounts currently does not apply if you are LP-ing your $vTHOR
$vTHOR voting on TIP proposals are currently not supported if you are LP-ing your $vTHOR
Note:
$vTHOR price is determined by arbitrage to set the pool price of vthor, based on the real thor:vthor ratio and thor pool price
IL/balance changes in the vTHOR/RUNE pair does not affect vTHOR/THOR redemption ratio (which continues to scale based on the amount $THOR locked in the $vTHOR staking contract).
β οΈ BNB Beacon Chain (BEP2) THORChain Ragnarok β οΈ
This is a final warning to all users to withdraw any BEP2 liquidity on THORChain pools/savers vaults (earn).
And don't forget π REDEEM YOUR BEP2 Synths (!) They will NOT be refunded.
> From THORChain devs: "The Ragnarok process [sunsetting all BEP2 pools and removing the Beacon Chain integration) is best effort. There is no guarantee of success when forcibly returning funds to users. Users need to withdraw before the Ragnarok starts to guarantee successful return of their funds."
This pertains to Beacon Chain LPs only (wallet address starts with bnb...). If your address starts with 0x (BNB Smart Chain) then no action is needed.
https://twitter.com/THORChain/status/1769786341569569158
This is a final warning to all users to withdraw any BEP2 liquidity on THORChain pools/savers vaults (earn).
And don't forget π REDEEM YOUR BEP2 Synths (!) They will NOT be refunded.
> From THORChain devs: "The Ragnarok process [sunsetting all BEP2 pools and removing the Beacon Chain integration) is best effort. There is no guarantee of success when forcibly returning funds to users. Users need to withdraw before the Ragnarok starts to guarantee successful return of their funds."
This pertains to Beacon Chain LPs only (wallet address starts with bnb...). If your address starts with 0x (BNB Smart Chain) then no action is needed.
https://twitter.com/THORChain/status/1769786341569569158
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π¨BNB Beacon Chain Update:
Nodes have been asked to remove all Beacon Chain pools from THORChain.
Withdraw your LP or Savers position NOW.
Beacon Chain LPs only. If your address starts with 0x (BNB Smart Chain) then no action is needed.
Ragnarok has beenβ¦
Nodes have been asked to remove all Beacon Chain pools from THORChain.
Withdraw your LP or Savers position NOW.
Beacon Chain LPs only. If your address starts with 0x (BNB Smart Chain) then no action is needed.
Ragnarok has beenβ¦
β οΈ THORChain Network Functions Paused for Maintenance
THORChain has temporarily halted all native transactions (swaps involving RUNE, loans, THORNames and synth transactions) due to a security report related to a new feature which has not been activated yet.
THORChain is taking this measure pre-emptively.
THORChain has also proactively paused L1 trading on THORChain to help protect users from incorrect price execution/trading UX due to lack of arbs from synth pause.
ο»Ώ
L1 swaps may be re-enabled on THORSwap (excluding Rune) with tweaked streaming swaps settings (slower) if arbitrage bots keep the prices of assets in line with the market without native THORChain functions enabled.
ο»Ώ
π RUNE LP actions, Earn (Savers vaults) operations, synthetic asset send/mint/redeem, THORName and Lending will remain paused until THORChain resumes normal operations.
ο»Ώ
β All other providers are functioning normally, covering Bitcoin, Ethereum, stable coins and most erc20 tokens.
THORChain has temporarily halted all native transactions (swaps involving RUNE, loans, THORNames and synth transactions) due to a security report related to a new feature which has not been activated yet.
THORChain is taking this measure pre-emptively.
THORChain has also proactively paused L1 trading on THORChain to help protect users from incorrect price execution/trading UX due to lack of arbs from synth pause.
ο»Ώ
L1 swaps may be re-enabled on THORSwap (excluding Rune) with tweaked streaming swaps settings (slower) if arbitrage bots keep the prices of assets in line with the market without native THORChain functions enabled.
ο»Ώ
π RUNE LP actions, Earn (Savers vaults) operations, synthetic asset send/mint/redeem, THORName and Lending will remain paused until THORChain resumes normal operations.
ο»Ώ
β All other providers are functioning normally, covering Bitcoin, Ethereum, stable coins and most erc20 tokens.
THORChain resumes after quick pause
Thorchain released a quick patch and validators adopted it in record time π
For a short technical write up, you can check this tweet: https://x.com/THORChain/status/1770529800828153866?s=20
tl;dr: a white hat responsibly filed a report on Immunifi about a recent code change, which TC/9R contributors very quickly addressed.
A big s/o to the white hat π«‘ and all other participants that acted quickly to make this preemptive pause as short as possible.
All Thorchain actions resumed!
Thorchain released a quick patch and validators adopted it in record time π
For a short technical write up, you can check this tweet: https://x.com/THORChain/status/1770529800828153866?s=20
tl;dr: a white hat responsibly filed a report on Immunifi about a recent code change, which TC/9R contributors very quickly addressed.
A big s/o to the white hat π«‘ and all other participants that acted quickly to make this preemptive pause as short as possible.
All Thorchain actions resumed!
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THORChain (@THORChain) on X
The protocol dev team maintains open relationships with several security teams - as part of a multi-layer security approach.
A security disclosure was made overnight that could have enabled a vulnerability on a new feature (Trade Accounts), by depositingβ¦
A security disclosure was made overnight that could have enabled a vulnerability on a new feature (Trade Accounts), by depositingβ¦
π THORSwap Chainflip Milestone
Since THORSwap's Chainflip integration Powered by SwapKit went live on March 1st, we have facilitated $16.39M swap volume via Chainflip in only 22 days. According to Chainflip's new [Broker Dashboard (https://scan.chainflip.io/brokers/), this makes THORSwap the leading independent broker (aka affiliate) for Chainflip.
The success of THORSwap's Chainflip integration is a testament to the capabilities and potential of Swapkit.dev
Learn more at: https://swapkit.dev/blog/chainflip/
Spread the good word (and give SwapKit a follow for more alpha): https://twitter.com/SwapKitPowered/status/1771241259165778332
Since THORSwap's Chainflip integration Powered by SwapKit went live on March 1st, we have facilitated $16.39M swap volume via Chainflip in only 22 days. According to Chainflip's new [Broker Dashboard (https://scan.chainflip.io/brokers/), this makes THORSwap the leading independent broker (aka affiliate) for Chainflip.
The success of THORSwap's Chainflip integration is a testament to the capabilities and potential of Swapkit.dev
Learn more at: https://swapkit.dev/blog/chainflip/
Spread the good word (and give SwapKit a follow for more alpha): https://twitter.com/SwapKitPowered/status/1771241259165778332
SwapKit SDK | Powerful Cross-Chain APIs powering DeFi Crypto Swaps of BTC, ETH and more
Chainflip: Revolutionizing Cross-Chain Swaps - SwapKit
SwapKit, the robust SDK development suite powering THORSwap, is excited to share a significant milestone in the decentralized finance (DeFi) landscape. On March 1st, THORSwap integrated Chainflip, first new cross-chain protocol supported on THORSwap sinceβ¦
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π£March #THORBURN complete!
π₯ 8,058,465 $THOR BURNED π₯
(3X emissions + 1.64x Multiplier)
https://etherscan.io/tx/0xcccab313838ed33fd5476f03660d4b51138d9d530ecaedff9f9dfa4ae64a5558
April Volume target for burn is now $84M USD. In total ~76.88M $THOR has been burned so far, accounting for ~15.376% of maximum supply π₯
Details on THORSwap Burn Proposal: https://forum.thorswap.finance/thread/snapshot-0x0180eb3bbcace663bf6a4ca09cae5437b61f9f5eb74b7105315f1286501be236?snapshot_id=0x0180eb3bbcace663bf6a4ca09cae5437b61f9f5eb74b7105315f1286501be236
Progress & $THOR distribution can be tracked here:
https://thorcharts.org/thorswap_dashboard
π₯ 8,058,465 $THOR BURNED π₯
(3X emissions + 1.64x Multiplier)
https://etherscan.io/tx/0xcccab313838ed33fd5476f03660d4b51138d9d530ecaedff9f9dfa4ae64a5558
April Volume target for burn is now $84M USD. In total ~76.88M $THOR has been burned so far, accounting for ~15.376% of maximum supply π₯
Details on THORSwap Burn Proposal: https://forum.thorswap.finance/thread/snapshot-0x0180eb3bbcace663bf6a4ca09cae5437b61f9f5eb74b7105315f1286501be236?snapshot_id=0x0180eb3bbcace663bf6a4ca09cae5437b61f9f5eb74b7105315f1286501be236
Progress & $THOR distribution can be tracked here:
https://thorcharts.org/thorswap_dashboard
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π£ Chainflip v.1.3 Update
π $USDT <> $BTC, $ETH, $DOT, $USDC, $FLIP Chainflip route now supported on http://app.thorswap.finance
π $USDT <> $BTC, $ETH, $DOT, $USDC, $FLIP Chainflip route now supported on http://app.thorswap.finance
π£ Ethereum Trading Pause (THORChain)
Ethereum swaps are currently paused on THORChain to resolve a delayed ETH outbound queue situation.
$ETH swaps to $BTC, $USDC, $USDT, $DOT, $FLIP all still available via Chainflip route.
$ETH single-chain DEX aggregation swap routes still available via Uniswap, 1inch, Sushiswap, 0x and more.
Other chains (BTC, AVAX, BSC, RUNE, ATOM, DOGE, LTC, BCH) are unaffected.
Ethereum swaps are currently paused on THORChain to resolve a delayed ETH outbound queue situation.
$ETH swaps to $BTC, $USDC, $USDT, $DOT, $FLIP all still available via Chainflip route.
$ETH single-chain DEX aggregation swap routes still available via Uniswap, 1inch, Sushiswap, 0x and more.
Other chains (BTC, AVAX, BSC, RUNE, ATOM, DOGE, LTC, BCH) are unaffected.
β οΈCosmos (ATOM) Fork Planned Maintenance on THORChain
There is an upcoming Cosmos Hub Fork https://www.mintscan.io/cosmos/block/19939000.
β οΈ THORChain will be scheduled to halt Cosmos (ATOM) roughly 30 minutes before the scheduled fork at THORChain height 15485600β οΈ
Following the fork, THORChain node operators will be asked to install the latest version of the chain daemon (15.2.0). There will be a 6 hour buffer from the time of the announcement for nodes to update without incurring slash.
UPDATE: Cosmos (ATOM) is resumed on THORChain.
There is an upcoming Cosmos Hub Fork https://www.mintscan.io/cosmos/block/19939000.
β οΈ THORChain will be scheduled to halt Cosmos (ATOM) roughly 30 minutes before the scheduled fork at THORChain height 15485600β οΈ
Following the fork, THORChain node operators will be asked to install the latest version of the chain daemon (15.2.0). There will be a 6 hour buffer from the time of the announcement for nodes to update without incurring slash.
UPDATE: Cosmos (ATOM) is resumed on THORChain.
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π£ April $THOR Burn Volume Target has been reached! π₯
$88.76M Swap Volume so far this month π How much higher can we go? Let's get it chads.
Learn more about #THORBurn here: https://docs.thorswap.finance/thorswap/thor/about/thor-burn
Spread the good news: https://twitter.com/THORSwap/status/1778053998714700050
$88.76M Swap Volume so far this month π How much higher can we go? Let's get it chads.
Learn more about #THORBurn here: https://docs.thorswap.finance/thorswap/thor/about/thor-burn
Spread the good news: https://twitter.com/THORSwap/status/1778053998714700050
Update on THORChain Lending pause
THORChain Lending services on THORSwap are currently paused due to TOR pool depth being shallower than expected. A proposed THORChain update (https://gitlab.com/thorchain/thornode/-/merge_requests/3450) aims to correct this issue, bringing the TOR pool depth back to normal levels.
Due to the current contracted TOR pool depth, the internal swaps required to open/close lending positions cannot be streamed. Thus, while the lending quotes are accurate, they present the likelihood of >significant slippage<.
THORSwap is committed to maintaining transparency and safeguarding users, lending will likely remain paused until the update fix is implemented and verified.
THORChain Lending services on THORSwap are currently paused due to TOR pool depth being shallower than expected. A proposed THORChain update (https://gitlab.com/thorchain/thornode/-/merge_requests/3450) aims to correct this issue, bringing the TOR pool depth back to normal levels.
Due to the current contracted TOR pool depth, the internal swaps required to open/close lending positions cannot be streamed. Thus, while the lending quotes are accurate, they present the likelihood of >significant slippage<.
THORSwap is committed to maintaining transparency and safeguarding users, lending will likely remain paused until the update fix is implemented and verified.
GitLab
patch calc median slip for multi-anchor pools (!3450) Β· Merge requests Β· THORChain / THORNode Β· GitLab
When calculating the median slip, the asset passed to the function might be a non-layer1 asset (ie THOR.TOR). This requires multiple layer1 pools to calculate the median slip.
THORSwap's very own Lead Backend Engineer Oleg Petrov will be representing TS and SwapKit at Token 2049 Dubai next week π«
DM Oleg for meeting requests and share this news: https://twitter.com/THORSwap/status/1778816699208499449
DM Oleg for meeting requests and share this news: https://twitter.com/THORSwap/status/1778816699208499449
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π’ THORSwap X KeepKey Mutual Integration
THORSwap is thrilled to announce a mutual integration with KeepKey.com hardware wallet, powered by Swapkit.dev
Now you can connect KeepKey hardware wallet to manage all supported chains (except $DOT) at once on THORSwap or access all THORSwap function directly inside KeepKey Client App. Securely Swap, Earn, Borrow cross-chain today!
Spread the great news: https://twitter.com/THORSwap/status/1778854835569447326
Learn more on medium: https://thorswap.medium.com/thorswap-x-keepkey-mutual-integration-for-seamless-cross-chain-defi-6fac09f80777
Order your KeepKey with a special discount + THORChain bundle: https://keepkey.myshopify.com/discount/THORSWAPX
THORSwap is thrilled to announce a mutual integration with KeepKey.com hardware wallet, powered by Swapkit.dev
Now you can connect KeepKey hardware wallet to manage all supported chains (except $DOT) at once on THORSwap or access all THORSwap function directly inside KeepKey Client App. Securely Swap, Earn, Borrow cross-chain today!
Spread the great news: https://twitter.com/THORSwap/status/1778854835569447326
Learn more on medium: https://thorswap.medium.com/thorswap-x-keepkey-mutual-integration-for-seamless-cross-chain-defi-6fac09f80777
Order your KeepKey with a special discount + THORChain bundle: https://keepkey.myshopify.com/discount/THORSWAPX
π’ THORSwap X KeepKey Twitter Space
Don't miss this week's spaces with the KeepKey team on Twitter/X! π€
Join us as we discuss all things related to the recent THORSwap X KeepKey mutual integration, and the future of SwapKit.
When: 17 April | 4pm CEST / 10am EDT
https://twitter.com/THORSwap/status/1780597467521949770
Don't miss this week's spaces with the KeepKey team on Twitter/X! π€
Join us as we discuss all things related to the recent THORSwap X KeepKey mutual integration, and the future of SwapKit.
When: 17 April | 4pm CEST / 10am EDT
https://twitter.com/THORSwap/status/1780597467521949770
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THORSwap β‘ #BetterThanCEX (@THORSwap) on X
Incoming spaces with @KeepKeyDevs! π€
Join us as we discuss @THORSwap X @KeepKeyDevs's recent @SwapKitPowered mutual integration and more!
When: 17 April | 4pm CEST / 10am EDT
Where: https://t.co/BmCIEoOnMs
Join us as we discuss @THORSwap X @KeepKeyDevs's recent @SwapKitPowered mutual integration and more!
When: 17 April | 4pm CEST / 10am EDT
Where: https://t.co/BmCIEoOnMs
THORSwap Announcements pinned Β«π’ THORSwap X KeepKey Twitter Space Don't miss this week's spaces with the KeepKey team on Twitter/X! π€ Join us as we discuss all things related to the recent THORSwap X KeepKey mutual integration, and the future of SwapKit. When: 17 April | 4pm CEST / 10amβ¦Β»
βΆοΈ THORSwap x KeepKey x SwapKit Podcast
Topics:
- How KeepKey improves hardware wallet UX on THORSwap
- How THORSwap works on KeepKey client app
- Why KeepKey built on http://SwapKit SDK and what the wallet module means for composability in cross-chain DeFi
- KeepKey's shared developer culture with SwapKit
- Future development areas of focus for KeepKey, THORSwap and SwapKit π
Listen: https://twitter.com/THORSwap/status/1780597467521949770
Topics:
- How KeepKey improves hardware wallet UX on THORSwap
- How THORSwap works on KeepKey client app
- Why KeepKey built on http://SwapKit SDK and what the wallet module means for composability in cross-chain DeFi
- KeepKey's shared developer culture with SwapKit
- Future development areas of focus for KeepKey, THORSwap and SwapKit π
Listen: https://twitter.com/THORSwap/status/1780597467521949770
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THORSwap β‘ #BetterThanCEX (@THORSwap) on X
THORSwap X KeepKey X SwapKit Mutual Integration https://t.co/FitSyxk88S
π’ Bitcoin Asia Hong Kong | 8-9 May, 2024
Happy Bitcoin Halving! π Hot on the heels of the Halving and Hong Kong Bitcoin ETF approval, we're pleased to announce that THORSwap + SwapKit will be a key sponsor and partner of Bitcoin Asia, Hong Kong, May 9-10.
A historic event hosted for the first time in Asia by The Bitcoin Conference (largest global BTC event).
Lead Contributor mogarchy will be presenting on the session "Bitcoin in a Multichain World" on May 9th. It's time to show off SwapKit in full force.
Bitcoin DeFi is for everyone. More Integrations, More Volume. The Liquidity Must Flow.
π Be sure to follow @THORSwap and @SwapKitPowered on X, and share this far and wide: https://twitter.com/THORSwap/status/1781682682709328210
Happy Bitcoin Halving! π Hot on the heels of the Halving and Hong Kong Bitcoin ETF approval, we're pleased to announce that THORSwap + SwapKit will be a key sponsor and partner of Bitcoin Asia, Hong Kong, May 9-10.
A historic event hosted for the first time in Asia by The Bitcoin Conference (largest global BTC event).
Lead Contributor mogarchy will be presenting on the session "Bitcoin in a Multichain World" on May 9th. It's time to show off SwapKit in full force.
Bitcoin DeFi is for everyone. More Integrations, More Volume. The Liquidity Must Flow.
π Be sure to follow @THORSwap and @SwapKitPowered on X, and share this far and wide: https://twitter.com/THORSwap/status/1781682682709328210