THORChain Re-poster

Have you ever considered who holds the most urgent need for economic confidentiality? Discover the insights below as @KentonC137 and the group of experts share their perspectives regarding @NullMaskio.

Please note a quick update to our programming calendar. The upcoming podcast interview featuring the team from @zodl_app has been rescheduled and will now take place this Friday, October 23, at 11AM EDT / 3PM UTC.

During the session, hosts @KentonC137 and @patriotsounds will lead a discussion with the developers behind this Zcash-powered mobile wallet.

We warmly invite you to join the virtual stage to submit your questions in real time. You can access the live broadcast directly through this link: https://riverside.com/studio/thorchain-8k6Ow?t=18027ffd26b586b991d6

While the process of burning successfully removes $RUNE from circulation, its impact completely ends at that stage. Protocol-Owned Liquidity accomplishes the exact same reduction in circulating supply while ensuring the asset continues to work productively for the ecosystem.

The underlying mechanics function continuously. With every new block, 20% of the system income generated by THORChain is deposited directly into the specific liquidity pool that yielded the highest fees relative to its depth over the previous 3 days. Arbitrageurs subsequently match the RUNE with the corresponding token on the opposite side of the trade. As a result, the protocol acquires a combined position of RUNE alongside $ZEC, $TRX, or whatever alternative assets swappers are currently demanding the most.

Holding this active position provides three significant benefits that are impossible to achieve with a burned token. First, it consistently accumulates swap fees. Second, it increases the overall depth of the pool, which directly allows traders to enjoy much better pricing on their swaps. Finally, the setup automatically buys the dip. Whenever $RUNE drops in value against its paired token, the position seamlessly trades a fraction of that alternative asset to purchase even more RUNE.

A comprehensive breakdown of the v3.21 update is now available to read on the blog. We invite you to explore the complete details at the link provided below.

https://blog.thorchain.org/thorchain-protocol-upgrade-v3-21

The results from the inaugural week of the @SwapKitPowered revenue sharing program are officially available. Although we are just getting started, the initial performance has already exceeded expectations. Please read on as @CBarraford provides a detailed analysis below.

Good morning. Experience seamless asset swaps today completely free from any KYC requirements.

By returning a 20% portion of the transaction fees on all @SwapKitPowered swaps, THORChain enables SwapKit to provide users with significantly reduced pricing.

This mechanism has already shown promising results. Over the first 12 days of operation, SwapKit directed $18.58M in trading volume via THORChain. This amount marks a 24% increase when compared to the 12 days immediately preceding this period. This creates a beneficial loop where higher processing volumes lead to an increase in shared fees, directly financing even more affordable quotes for the community.

While these initial statistics are certainly positive, the overall trend of this system will become much clearer as we observe the data over the approaching weeks.

Latest Information Regarding the THORChain Network

We are excited to announce that version 3.21 has officially been finalized and is now ready. This major release incorporates a wide array of necessary system repairs intended to return the network to its complete operational capacity. Furthermore, the update brings along a highly anticipated capability that our users have been requesting for quite some time.

For the implementation of this release, please take note of the scheduled system pause. The upgrade halt will take place precisely at block height 28,366,100. You can expect this temporary interruption to happen on Friday, October 23, during an estimated time window between 13:40 and 15:20 UTC.

Please continue reading the thread below for additional details.

Ecosystem Update and Weekly Review

Here is a look back at everything that unfolded over the past seven days.

Top Headlines
Scheduled to deploy at block 28,366,100 on or about Oct 23, the v3.21 upgrade will introduce critical fixes to safely reactivate memoless swaps, Limit Swaps, $ZEC, and $SOL. Once the system update is finalized, the @RujiraNetwork app layer and bRUNE staking will also be brought back online.

New Deployments
Moving out of its beta testing phase, the THORChain settlement solution by @mocadotapp is now fully live. This development grants merchants the ability to process settlements in $XRP, $ZEC, and bitcoin-cash:native, alongside other digital assets. Additionally, @Thorwallet has rolled out the beta version of its latest Terminal, offering users the flexibility to connect any preferred wallet and seamlessly trade across 23 chains.

Community Contributions
Over at http://runewatch.org, @RUNEMaxim has successfully integrated a specialized TCY tracker. This new addition allows you to easily monitor your monthly payouts, actual APR, and your currently staked TCY.

Ecosystem Weekly Overview

A warm welcome to our latest ecosystem update, where we review the exciting developments from the past week. In major news, the upcoming v3.21 release is scheduled to occur at block 28,366,100, which should land on or near Oct 23. This crucial update introduces necessary resolutions to safely reactivate memoless swaps, Limit Swaps, $SOL, and $ZEC. Additionally, once the upgrade is complete, bRUNE staking along with the application layer from @RujiraNetwork will be officially brought back online.

On the product rollout front, the THORChain settlement functionality created by @mocadotapp has successfully moved out of its beta stage. This transition means that merchants are now fully supported to settle their transactions using assets like $BCH, $ZEC, and $XRP, among other options. In a concurrent release, THORWallet has unveiled the beta version of its brand new Terminal. This innovative platform grants users the ability to connect whichever wallet they prefer and conduct seamless swaps across a total of 23 chains.

Finally, our community continues to deliver highly useful tools. A recent highlight is the work done by @RUNEMaxim, who integrated a comprehensive TCY tracking utility directly into http://runewatch.org. Visitors can now use the website to easily check their monthly payouts, observe their real APR, and keep a close eye on their staked TCY balances.

Mark your calendars for an engaging Ecosystem & Community Spotlight edition of the THORChain Podcast, broadcasting on Saturday October 24 at 10AM EDT / 2PM UTC.

During this upcoming episode, @KentonC137 and @patriotsounds will host an informative conversation with the developers representing @zodl_app. Brought to life by @zodl_co, Zodl serves as a Zcash-powered mobile wallet that is entirely open source. Furthermore, the application guarantees complete self-custody and ensures that user activity remains shielded by default.

Trading digital assets across different networks is meant to be a completely borderless endeavor. Therefore, providing a passport should never be a prerequisite for anyone looking to execute a cross-chain swap.

⚡ We would like to share a brief update regarding our schedule. The THORChain Podcast | Ecosystem & Community Spotlight featuring EIDEX, originally planned for this Saturday, has been canceled. Our team will return shortly, so please watch for announcements about our next episode.

Since the Chads are speaking up, it is only fitting that we give them center stage. Welcome to the THORChain Community Spotlight, a dedicated space where distinct voices from our network can step up and share their personal journeys. For this latest installment, we are incredibly excited to sit down and chat with @Codiar6.

The evolution of THORChain relies on a consistent and accessible process that always begins with an ADR. Whether you want to suggest the integration of a new chain, a fee modification, or a brand new feature, absolutely anyone can draft an ADR and share it in the THORChain Discord. In fact, the initiative for Protocol-owned liquidity originally came from exactly this kind of community proposal.

After an idea is submitted, it enters a phase of fully transparent public discussion. Developers, node operators, and everyday users collaboratively scrutinize the submission, asking essential questions, offering pushback, and tweaking the finer details until the plan is solid.

Following this open debate, the decision goes to a network ballot where every single node possesses exactly one vote. Implementing any modification demands the affirmative agreement of 2/3 of the active nodes. Currently, the network consists of 111 nodes overseen by approximately 56 independent operators, which means 74 nodes must give their consent for a proposal to successfully pass.

Being entirely open to public participation and relying on collective network consensus is the core philosophy that originally launched Bitcoin. Today, THORChain remains proudly dedicated to advancing and building upon this exact same foundation.

Join us for Podcast #243, where we deliver a comprehensive update on the latest developments with THORChain. In this episode, we are delighted to be joined by @CBarraford, @patriotsounds, and @KentonC137 for an engaging and informative conversation.

Wishing you a great morning ☕️. Take the opportunity to bond your $RUNE ⚡️. You can effortlessly experience the exchange of native assets while fully maintaining your financial independence.

Please join hosts @KentonC137 and @patriotsounds today for a live edition of the THORChain Podcast. Broadcasting at 2PM EDT, which corresponds to 6PM UTC, this session will feature a comprehensive Protocol Update delivered by Co-Founder @Cbarraford. We warmly encourage you to step onto the virtual stage and present your questions in real time during the event. You can access the broadcast directly through the following link:

https://riverside.com/studio/thorchain-8k6Ow?t=18027ffd26b586b991d6