How are you guys doing? Great. Dude, it's been so warm out recently. It's mid-February and at least here in New Jersey, it's been like 70.
It's been like 60 or 70 out of week and been like outside all sides. Great. Take a plane. Nothing better than sun and touches and grass.
That's awesome. Yeah, same over here without doxing too much, but yeah, love the good mother.
And then what's going on Chad? Anything new with you? No, not really. Just getting on.
it on. Alright, well let's get started I guess. So first thing, like I guess we'll start with the the Adam upgrade, the guy upgrade which was successfully completed, although
I think there was some hiccups there. I guess there are some discrepancies with the published time of the hard work and when it actually happened. I think things were a little wonky, but it looks like everything is upgraded and invect normal.
and you know, live again. So any, any notable like takeaways from that, that upgrade it like there's some like minor like communications issues it seems like from the
Adam core people but nothing major. Yeah we look at the time that was publicly announced about when it was going to happen and we just kind of believed it and did really do the math ourselves in a sense since that was probably the issue.
Also, like times are kind of a flexible concept within blockchains. Like each block is approximately more or less the same amount of time, but it can go longer or shorter, depending upon number of transactions or processes and other things. And so the time is never really quite accurate. It's always like a general system to be out.
So TLDR, it was just basically down a little bit longer than expected. I didn't even see exactly how long it was. I think some notes got slashed a bit. I think that that was kind of the problem. It was causing some weird issues because it was basically like the pause time was set for later than it should have been.
So basically, I think the chain was paused, but the validators were still trying to continue processing blocks and then it wasn't happening, obviously. So I think that was the issue. So it's something similar to that. I mean, not an issue from anyone else's perspective.
All good at this point it looks like and I think it was reenabled so Yeah, is there anything you want to say chat about the eTXO pauses Well, it's really not much I can say at this point unfortunately there will come a time when we can discuss
more openly, what's going on, but if the interests of security really can't go any time, they got a detail at all, unfortunately. Hopefully, we'll do it. We can talk more about it next week, but for right now, we have to keep things kind of on the quiet for security purposes.
Got it. Which, uh, which chains does this effect? I'll wait, which ones are paused right now? Like when the coin cash and doge leave.
Would it maybe this is too much details, but it doesn't affect Bitcoin? I mean, that's great. Yes, correct. It does not affect Bitcoin. That's why that one's still on run.
Yeah, I saw some people ask me questions about that so I wasn't sure if there was more details that were ready to be put out yet. As far as I know, this is a Thor chain internal issue. This is an external chain issue, right? Yeah, pretty much. And as soon as like some, you know, things
are disclosed publicly later on, not by us but other people. We can talk more in detail about it and that kind of stuff. But until then we have to keep things on the download. Hopefully that's sooner rather than later.
I have seen people asking about the change. So I guess once the security concerns are alleviated and those are addressed by the other teams, then we can move on with that. Because I've seen a couple comments asking when's Bitcoin cash trading coming back. I actually have seen people asking about all three, which is probably actually a good sign.
It's seeing that people are actually wondering when trading is coming back. People are trying to make use of that and actually make swaps and maybe some savers in there that wants to yield. So there are actual users that want to
don't want to use these chains and things like that. They're asking for them back. So what's the concerns are alleviated then you know we can get back to it. Yeah 100% just waiting for some things to happen for it before we can do so. Cool. Cool. So
Next up, I guess, raise the caps. Let's talk a little bit about the process that's going to happen to get the savers caps up because I think a lot of people are kind of holding their breath just waiting for that in the node vote just passed I guess this morning. So it should be raised really anytime now.
Yeah, you want to go into a little bit about just the process of raising the caps and like what's going to happen with POL and synthetic asset utilization and everything that we've been talking about for a while now. Because it looks like it's finally like right there on the cusp. Yeah, let's get in there.
So, originally, the caps now, I think the ultimate goal is to raise the caps to like 55 or 60%.
And allow the PVAL to start adding liquidity at 50% and then withdraw liquidity at 40%. And so that'll be the first time we're enabling POL for the network. And when we do so, like the, the will women,
So we're going to purposely limit the amount of room that the P wall is allowed to use from the, excuse me, from the reserve. Just to make sure that we don't like, you know, due to some bug or something like that, like just dump 100 million or something crazy, which wouldn't happen, but just to be on the safer side.
to start with a small amount to begin with, let it deploy that amount of room, just make sure it gets deployed in a way that's expected and doesn't cause any problems or anything like this, no surprises. And assuming that that's good, we can, you know, start to bump up that number and allow
be able to take a larger and larger position in the pools. It probably only actually, you know, do it for the Bitcoin pools because the other ones aren't close enough to my knowledge, it's up my head, to ward the people up to get engaged, but that might change over the future. Probably well.
Yeah, the short term is just going to be Bitcoin to start because that's the only one that's at the cent cap currently. So look at it. It kind of looks like either is kind of creep in its way up there, especially with the launch on shapeshift and their interface been seeing some.
deposits there. There's actually a chart the other day that was floating around that they put out about how much was deposited through their interface and you know things are looking good on on that front getting liquidity and things other than Bitcoin but rolling out on Bitcoin initially
Anything else close right now? Well, I'm excited to get Bitcoin running again in terms of people that we add more liquidity. And the shapeshift UI hasn't really seen the Bitcoin pool available yet, right? Because they launched it at a time when we already hit the
the cat. And so all they could do is like a theory of another smaller assets. So I'd be interested to see once we actually like, you know, raise the cat from 30% to 50% or 60% where the number is going to be to start to see like Bitcoin start to grow again and get deeper and more liquidity and all that kind of stuff.
Yeah, a lot of people from shapeshift been asking about the Bitcoin vaults and it'd be really nice to like especially like go to eat 10% of that with within a FD not an FD Bitcoin vault with space in the Bitcoin vaults and being able to onboard some more people from that perspective.
Yeah, and once we actually get the P.O.L. enabled at 50% then the synth cap at that point doesn't really matter so much. Maybe it doesn't some kind of extreme scenarios, but it doesn't matter if the synth cap is at 55% 60% or 90% because the P.O.L. would always
just keep on pushing the send utilization down to 50%. So it doesn't matter. So much of the synth cap is at that point for the most part, unless the P well is unable to add more liquidity, other because it runs out of room to be able to deploy because the cap putting in
artificially or runs out of room and reserve itself, which is that's never going to happen. Or at least not for at least like 30 plus years and like this. And then or the hard cap is hit and the people can't and will equity because really the hard cap has been hit for the first time.
in the history of our chain here. So the synth utilization after the point of 50% like, I believe doesn't matter so much. You still want to do it a little bit higher. You could do it at 51% if you really wanted to, but it's probably just smoother to do 55 or 60 or something like that just because it gives more buffer
offer and gives the POL more time to adjust to a price change between ruin and the asset. So those are kind of two independent things then there's like the synth cap which can just be higher but then the POL where it modulates to balance. I remember we were discussing this weeks back like
Does it -- is it 45% to 55% at what point does it kind of start buying and start selling? Has that aspect been nailed down? >> Yeah, I think there's general agreement between the DEVs, the OG team and the NIME
I think the intention is that the peel is adding liquidity when it hits 50% synth utilization and then it will withdraw liquidity once it hits 40% synth utilization. So there's like a 10% little buffer kind of in the middle there and that's just there just to make sure that the peel all doesn't like thrash.
The the pools that much and just like constantly be adding withdrawing and withdrawing and withdrawing like back and forth. I mean it wouldn't be necessarily a bad thing that did happen would be like the end of the world or anything but would it wouldn't mean as it would give it kind of bloke the chain and add more transactions in the sense and a matter of speaking and cause more like data in per block which could blow the chain.
And it also could cause some slippage for the reserve, right? Because the reserve is adding a single side liquidity as a dual side, and so depending upon the quantity or the size of the deposit or withdraw, you're going to get some kind of slippage.
between those three things. So if you don't want to keep on adding and keep on withdrawing back and forth, thrashing the pool in a sense because you're just going to slowly bleed yourself in some ways. The amount of room that is supposed to deploy should be a small amount. And so we should really see that much of a slippage because it's going to just bleak or lead a small amount
on a rune in our small amount out. But that's one of the things that I want to pay attention to when we actually want to see how much a rune is being added on a scenario and make sure that number is not too high, that causes too high slippage for the reserve.
Yeah, that makes a lot of sense. Cool.
Yeah, I both have seen the people talking about the buffer beings and we're around like 5% basically having it add at add liquidity when synth utilization is 55% and remove when it hits 45% so I don't think there's a huge difference in it being like you know
5 or 10 percent, it just depends on where you want the POL to add and remove liquidity. So if your target is 50, then it can add at 55 and remove at 45 and keep it bouncing around 50 percent. Chad, do you think there's a huge difference of it being at the target did right being
like 45 and 50 or a 10% buffer and a 5% buffer are those just like pretty small differences. The buffer matters less in some sense. A larger buffer means that you would thrash the pool less and so statistically speaking a sudden price change
and run upward or downward relative to the asset would be less likely to add or remove liquidity because it buffers larger. Right. It's from mathematical probabilistic perspective. It doesn't really matter that much, but the one area where it does matter is that when the network is
say the POL started adding liquidity at a lower percent, say it was like 30% or something like this or 20% something like that. And so every time if like a dollar of savers goes into the pool because you're the the synth utilization or the target system is below 50% you have to put
in more run than you have to do. Maybe $2 worth of rune is a bunch of exact numbers on my head, but I have to do the math. Say you have something for the dollar savings that creates effectively 50 cents of buy pressure on the rune asset inherently. Then when the POL adds $2
of rune, it's creating basically like a dollar of cell pressure. So there's a net negative of 50 cents in that hypothetical. And so, but the inverse is true if you do above. So if the sential decision is not a third percent, it's at like say it's at 70 percent or 80 percent something like this and you start adding liquidity
You are going to be adding $1 worth of savers and you're going to be adding 50 cents worth of ruin. You create a net by pressure. But in that same hypothetical 80% or 70% and somebody's doing a withdraw at that age, at that point, you're actually going to create a net
negative. So it's like, so we think about it in other ways, like saying that if the synth position is at 50% and we're adding or withdrawing, it's like a dead even Stephen, you know, no reflexivity, you know, net buy or sell pressure on the rune asset. And the synth condition is below that and you're adding liquidity, you're creating a
net cell pressure on the rune onset. And if you were drawing under 50%, you're creating a net positive or net buy pressure. And then conversely, at the sense of the lessons at 7, you're already playing above 50%, when you're adding liquidity, you're
net positive and then when you're minusing at 70% your net negative. So there's a little bit of a chart that you could grow like a draw like a table of something like this. And so because the network is going to be adding liquidity at 50%, it's even Stephen, you know, no, with flexibility.
But because it's withdrawing at 40%, there's going to be a net positive on the rune by pressure. There's more by pressure than there's going to be self pressure when you're withdrawing at 40%. Technically speaking, if we were to do what you were just saying, Kyle, and just put it
and you withdraw them when it's below 50. And so you can create a positive reflexivity in both directions when you're adding in, but then again, like, if the at 55%, it's like basically nothing. It's not really a significant number. So I wouldn't get nobody should get too excited about that.
>> Cool. Thanks for the explanation, Chad. I brought up Jimmy. Hey, Jimmy, do you have questions? >> Yeah. No, I'm just here to ask about how this community continues to be.
I need to support the poor chain, you know, the poor chain maxi, the poor chain soldier, and I'm organizing some poor chain special forces. You know, I need our special forces command and
This war against other projects continues, the door chain is on top.
Thanks brother, appreciate it.
Let's go you cut out a little there in the middle so not quite sure I got the full message, but I think I got the gist. I like Jimmy's like Twitter icon. He's got the you got the mule me in there. The hammer.
Yeah, it's not so much about what he said. It's about how he said it. It's about the spirit of the speaker. Exactly. Jimmy's one of my favorite people on spaces, one of the funniest guys in the industry here.
I don't think Jimmy's been up with us before. I don't think he's ever been on this Facebook or has he?
He stepped down, but yeah, yeah, I remember him. I think I think that's a different profile picture, but I remember him. Cool. I thought of the probably a P.O.L. question, but that works too.
Cool. So yeah, so I think we'll see since being bumped like real soon up to 50%. So that means there's going to be immediate space for Bitcoin savers and I think that'll happen very, very soon because the vote already passed. We just need to add them a mirror to to lock it in and then we can
start on this path of more savers, more POL, just increasing that liquidity. And yeah, we're going to make swap fees better with the greater liquidity. And yeah, hopefully everything works out well with POL, like now start out small to beginning and monitor it and
Make sure things are growing in a sustainable way and there's no problems and Yeah, look it forward to seeing how this is gonna go LFG
well, just to make sure that I understand this correctly. So when the cap is raised to 50, the PUL will be activated. It's the same thing or are those two things separate and you will make them later. Two separate things, they need to be activated separately.
They're both merged in like I mean so like POL is in the code right? So I was ready to be activated all these it's put into separate Flint switch that needs to be flipped in order to activate it So the vote the vote has only been done for the for the cap and not for the POL
Yeah, I think so I think they're I'm not entirely quite confident with myself, but I think there might be a symbolic vote by the nodes to enable POL and then it becomes of a bait about like how that should be an
like for some people, like there's basically three options to think about. One is, you know, do nothing, don't enable the P.O.L. vote down the whole concept. Number two is we've only enabled P.O.L. for specific pools that might be Bitcoin and Ether, for example.
or number three is we enable it for all the, you know, all the savers assets, which is like all the gas assets, the primary assets per chain. And that's, I think that's going to be something that the community is going to have to talk about. And the value is going to have to kind of
at mull over and think about what they think should happen. My personal views are just unable for all gas. That's personally. That's my two cents. But, you know, we're probably having debates with this in the discord in other places pretty soon.
So yeah, that's gonna happen like kind of right away, right? Because we don't we don't want to be sitting at a 50% cap without P.O.L activation, right? Just in case like crazy price action, then it goes past 50. There's no like kind of safeguard there. That's what I thought I should.
Yeah, I agree. Something I've been talking with the deads about. I wouldn't be too worried about that scenario because we're already in the bear market and you would need to see, at a thickness of civilization, you would need to see basically a forex price change.
By the Bitcoin going up 4x or room going down 4x or combination those two things in order to get into any kind of real trouble in the sense but Part of the point of the purpose of the POL in my view is that it's it's playing the You know the bodyguard of the dual-side LP
in a sense. So if the room's price is not performing so well relative to Bitcoin for example, a signalation will go up which increases the amount of leverage room position of the dual side LPs are taking on. And so the P-wall is supposed to kind of keep it to a
reasonable level, which is approximately 50%. So I hope we'll move on that fairly quickly after we get to the Stinthicap. We can enable the Stinthicap today or whatever, or tomorrow or whatever, and then start talking about, so we're gonna get to close to 50%. In the next few days, it would probably
a couple of weeks or so before we actually get to 50% since utilization on Bitcoin and so forth. So we have time. So I'm not terribly worried about it, but I definitely would advise to the community to enable the POL on, it might be in all the gas assets sooner rather than later. - Awesome, thanks.
Yeah, that's sense. I don't think anyone is suggesting going up 50% and then deciding what to do. Like these are all kind of being worked on concurrently. So I think the plan is coming together right now for the POL and then it'll basically be refined over the next couple of weeks is kind of how I picture it go.
And then once we are close to that POL target number where we figure out exactly what values we want to target and how exactly the implementation is, there's probably going to be like a couple of weeks leading up to that because that means we need to fill up another 20% of the caps we're going to be using.
with more savers entering into the pool. So there's probably going to be a few weak buffer, I would think, between when the caps are raised and when POL is actually activated. I guess it really depends on the rate that people deposit into the savers vaults and drive up the centralization rate. Yeah, it depends
many people are waiting to beat down the doors and get their Bitcoin in. And by the way, like seeing a 4x price change and is like would be extremely unlikely to happen even even when 4x has its like its exploits in the early days, you know, about a year and a half
I think it was a price change. It was a price change. It was not a very expensive scenario.
like a historically to the ruins price go down greater than 4x. The only time we've seen that from what I was doing some research is when we went from the bull market where Bitcoin was a 60K, the room was at like 20 or 21 bucks and we went from 60K down to 20K, I'm Bitcoin and we went from 20 or 21
$1.00 down to $1.00 and that point I think that was about 6.6 and then like that 6.3 something around there and so that would be a higher obviously price shift and that's an error but obviously we're not going to go into the bull market and the bear market you know at the next two weeks yeah I'm not telling the hotel we're talking about it
That was over months as well. I mean many months really. Yeah, yeah, so I'm not terribly concerned at this moment in time about being a 50% situation. I would definitely wouldn't want to sit there and kind of like, you know, total my thumbs in a sense, but yeah, I wouldn't freak out if something
like that were to happen. I think it only becomes a concern if it just starts filling up super fast or like faster than expected. Like if it was at you know 45% and and we still haven't like got anywhere then it's like okay we're like really getting close to the finish line here but yeah. I think it really happens that we need to be like you know once we get to that
it wouldn't necessarily be a problem. I think it would mean we would just need to act flicker. Also, I think if you're a node operator that voted for 50%, you're basically symbolically voting for PLL, right? Because I don't think anyone really wants 50% said utilization and not PLL, right?
So I think it's kind of implied. Like when we actually were designing synthetics in general many years ago, myself and somebody else, and when we were actually like, you know, doing the math of like how risky is our synths in general. And at that time, we were only thinking about since as a
So the only demand center for synth was going to be just arbitrage and the pools and such. So you don't need 50% sithitialization to arbitrage the pool. You only really need like 10 or 15% to per se. Right. So and then at that low of a percentage, percentage like it.
It's really not much of a risk there at all because you would require it at 50% of the probably like a close to like a 13 or 15x price change which would be the biggest thing we've ever seen and ruins history by landslide. So it just didn't seem like there was really all this nothing to be terribly concerned about that small utilization. But then of course once we started to get to find a new
Another demand center for sense, which is less savers concept, obviously that can go from 10% to 15% to considerably higher. Technically, we could put a position at 100%, not that we should do that or we'll do that, but it would probably be utilized. And then it made orderly up until the hard cap.
So when our initial math of like I now analyze the risk of sense we felt it was quite low initially but then we added savers and so that kind of changes the you know perspective so initially I was I was I wasn't even going to vote I actually didn't even want to do a vote on P.O.L. personally and just like if you get the
since the cap to 50% or 60% or some were between, then with, you know, Mimier admin, we're just enabled P.O.L. in the best interest of the network and its reliability. But a night around this, I think, was kind of pushing for having a community vote on the P.O.L. separately and, you know, I wasn't going to fight with that or anything like that.
Yeah, I would really doubt there's anyone that's seriously, you know, campaigning to enable synth at 50% and no POL. I don't I've seen anyone that expressed that. I think it's just minor differences about like how to deploy POL and it's just like, you know, actually having some kind of, I don't know about voter discussion.
in Switch. So even though everyone's in agreement, I understand the push to kind of do it the proper, have that flow of votes and all that to make it happen. Yeah, I think the debate really is about which pools does it get enabled or not, right? And I think
On the one hand, somebody might argue that by enabling the PO out on a smaller asset, like Litecoin, for example, which has a decent amount of savers in there relative to its cool size. And Litecoin were to pump 10x just like that.
tomorrow. Then that could cause a problem in terms of P.O.L. whatever. I mean, not in my opinion, I think something might argue that, but not as much of my opinion. If if Lakeway and Pumps 10X or something like this or whatever, then that would mean that the P.O.L. slash the reserve would earn
a lot of money because of course the P-Wall taking position in the pool. Therefore it's owning Litecoin as well as Roon and it's kind of like portfolio. So it's like when Pumps 10X and the P-Wall does well and it performs well that's there. We might have to pump more Roon into the pool if they kind of help cover the
of the dual side LPs and such, but that's not really a big deal. Especially in these smaller pools like Lake Lain and Doge and whatever, probably even Dash, like the depth of liquidity is so small that even if things go south from some way, shape or form, like the amount of losses the reserve would actually experience is relatively small because the pools are relatively small. Obviously
different for Ethereum and Bitcoin, but those things, well, there's a lot of large market cap assets. The likelihood of it going 10x up or 10x down is relatively small, actually relative to runes, ability to move upward or down or whatever. It's like the larger the market cap, in some ways, you could argue things
gets safer and you can argue that things that don't get safer because in a larger market cap asset you can have less volatility which means those pools you have more in permanent loss which means the reserve is going to take on more IL in the larger market cap pool. That's why we see like if you look at I have from last protection for example like Bitcoin is the largest pool I think or really small.
That's all I'll do, you'll see the results.
I'm going to be on an interesting conversation today.
and the developers of the 6th floor government.
and nobody else will be joining us.
I don't know if it was cutting out for anyone else at the end there. Chad did you hear?
into that. Yeah, just at the just at the very end, it got a little like sped up sounding for me. Looks like he's reconnecting, but yeah, basically just saying that he's in favor of enabling it for all the all the savers assets, not
Not just Bitcoin. Cool. Yeah. Makes sense. Let me bring him back up. And we have a all-commissed here. Also, I see Deep Ice bought in the audience. I know they've been like shipping like crazy to pass a couple days and have a lot of plans to ship a lot of new aggregators to the new chain.
I did some swap estimations and check how much this little bridge was from Bitcoin to Bitcoin.
like USDC on Polygon and like slippage is pretty nice and just more roots opening up so actually pretty cool so if uh
I don't know if they're like on mobile or whatever, but if you guys want to come up and share anything then it'd be cool. Otherwise we'll bring up alchemists while we try and get Chad back online.
Hey guys, we're excited for POL and the next phase about to kick off in the next few weeks, but I'm even more excited about some alpha that I think just dropped briefly in the discord.
they might be an NFT marketplace for Bitcoin NFTs dropping built on top of the trade. I don't know if it's DeFi spot or it's it's a toss-up team. I'm not asking if it is true or not but let's assume it's true and it's really
I'm really excited for that to happen. It would really complete the ecosystem, the torching ecosystem. So I would like to hear you guys discuss what the potential, if that drops, that's my question.
Wait, one second. Did I, I need to figure out if I banned Chad from this space or not, or if I just removed him? Devs are sleeping. Let's have a party.
Sorry, Chad, do you want to talk about this for a second while I try and pick this up?
I was also a little bit distracted by the messages with chat. What was the question about BS? It's about using the origin basically as liquidity source to basically do cross-chain NFT trades, which is totally
I posted about this in the DBS quarter of the other week, basically what prompted this idea is a lot of people are trading ordinals and things like that. And how they're actually doing it is they're wrapping it on
using emblem vaults, they're wrapping it onto Ethereum. So they're actually just, so it's a Bitcoin ordinal and they're putting it into a emblem vault, wrapping it, putting it onto Ethereum and then selling it on OpenSea, which is just like kind of crazy to me that people are doing that, especially in such large numbers. So I,
This has been an idea that's been said for a long time now. It's using the Dexack aggregator on Thor-Shane. You can use the Dexack aggregator not only for cross-chain AMM swaps, like using Uniswap or Pangolin or something like that.
You could even do it with your own custom contracts and you could have that deposited to open C's APIs. You could actually use Thorchain to purchase Ethereum NFT using Bitcoin using the Dexack glitter on Thorchain.
I really do hope someone is building this out because I think it's an interesting project idea. I think that it was a little bit weaker in the past because I mean why would you want to buy your NFT with Bitcoin when you can just buy it with with either right? It's not really that big of a deal. But now that people are trading these Bitcoin NFTs
as you could, as you could say, I guess, there is, there does seem to be like increased demand actually do this. So I like, I actually do see there being a larger market and like for this type of activity. So it would be really cool if someone could actually put that together. I
I don't know if anyone is actually doing this, no, I put out the plan of how to actually do that. The contracts that would be required to actually make something like that from at least from my view. And hopefully we see something like that and we can see the work chain just powering more and more
It's probably too soon to say any details, but I know there are definitely at least one team that's like looking at this for sure. I'm not sure about the Bitcoin ordinance stuff. I haven't dug into that really. I'm not sure if that's covered in it, but definitely something being explored.
is like the NFT aggregation, you know, by NFT on chain. Oh god, I'm gonna fucking come. Oh god, I'm gonna fucking come. Oh god, I'm gonna fucking come. So long. Okay, let me block and remove.
He must have been looking at the room chart, I think.
Just a brief intermission there.
open AI is not going to like this transcript once I send them the video. Twitter's Thorchan spaces rated triple X at least it didn't pin any like tweets
with weird stuff. I've seen that happen on a Thorsoop Space once too. I don't know what people are doing. I didn't know you could do that. Well, when you get up on stage, you can pin any tweet.
Yeah, yeah. Yeah, so I mean like sometimes a spammer just starts like pinning a bunch of yeah, whatever Yeah, so um, yeah, so you can actually use lorchained to trade the ordinals themselves as it's currently configured
because it's like its own thing. But like you could actually use Thor-Chain as liquidity source to like you could use it to say make a contract to give your NFT to that contract. It lists it on whatever
service. And then whenever it sells it just pays you out in Bitcoin or you could configure it so that way you can buy whatever NFT on whatever chain with Bitcoin or whatever coin is supported on ThorShane. Oh, that's completely possible. So just waiting for that thing to
people. That was just an idea that was posted around. I guess someone is potentially building it. Look at Barbara seeing when that happens. More options and more and more use cases for people actually using Thorchain just for whatever their general purpose is. It seems like the perfect.
like actually use for the protocol besides just being in like the regular like while it's indexes just being a little bit more creative but without like having to expand the footprint of doorchain too much in its capabilities it's all possible with like what's available today on the network
exactly 100%. I mean, that's really the goal, like, speaking from the Thoris website for a second, but just with like the API integrations and just having like this full complete package. So expanding that offering such that it is like, you know, it's not just for Dex's or it's not just for wallets, but really there's like so many
potential use cases, whether it's like this NFT topic or payments, you know, there's you can really go down the list and have a lot of potential use cases for Thoracane backend, and especially with aggregation, because then you get in any any token, of course, and like a lot of cases it's like the projects token, and that's important to the
So yeah, there's a lot of angles with it. Right. Yeah, that payment angle is huge that that's my other like free idea, which is by no means free, but you could you could steal the idea and use it, but actually the building it out will take a lot of work, but so this this other idea that I'm just you know been waiting for someone to
to build being a cross-chain payments platform where you basically use it is similar to the NFT like idea where basically you pay with any asset and the merchant can receive any asset you know you can maybe do something like it issue a
invoices and the buyer can pay in any asset and the seller can receive the asset that they want, probably a stable coin and the buyer can pay with whatever they want. And you could use their chain for that backend to make all of those swats happen.
a lot of things need to be, like, they just find a lot more of things that need to be, like that is a lot more complex than, you know, just building like an NFT aggregator or something like that. And it's something that there's a lot of competition in already, especially with, you know, centralized exchanges, probably some like Coinbase pay or like finance
or whatever the decentralized service are that can offer price guarantees and things like that. But I think that's another interesting way to explore the original. In a use case, it's not already currently being used. Yeah, I love that idea. And there's definitely some partners on the roster of potential partners that
that we're in talks with and stuff that are kind of in this space and a lot of the work the Thorswap Dubs are doing are kind of on exactly that, like the expected quotes and all these sort of things to guarantee the best possible quoting because that stuff is so important if you're trying to get another asset that
What especially what it's like aggregation to and it's not just it's not even just the orchain So there's a lot of like steps to like ensure that the proper output is quoted Because there's not really any room for error if you're like trying to you know do some sort of like commerce so yeah, yeah, yeah
Another major problem I think of is the minimums. Because you're operating all on-chain, you couldn't just go to the convenience store and buy a bag of chips for a dollar. You pay in Bitcoin. It's just not going to work like that.
these that are involved because you need to pay decentralized actors. You don't need to really pay Coinbase that much to use a little bit of the liquidity process or some real life transactions. So, you know, it is very different like something that would need to be scopeed out a lot, but yeah, just another cool idea there. Absolutely. Yeah.
that's true. But there's definitely a lot of use cases for payments that are not like $2 even like salaries or buying obviously anything that's like, let's say, $100 plus or something like that, then the fee is going to be less important, especially of course, is like liquidity gets deeper and slippage gets less
Yeah, somebody should spin that up. All right. Now, yeah, that's in the idea space now. It's interesting. Very cool. So yeah, anyone else want to come up and ask questions? And I hope our answer gears are convinced that you have any more. Feel free.
But Chad's gone so, you know, we will stay up as long as there's someone here that just wants to ask something about, I don't know, PUL, Savers, anything else that's going on in the ecosystem.
I guess while we're waiting to see if anyone else is going to come up, I'll say again that we're going to be at ETH Denver and we nine realms is helping sponsor a booth with ShapeShift so us Thorcane is going to be there at ETH Denver doing some stuff
So we're going to be doing a lot of stuff with shape-ship and no solid plan, but if you're going to be there, definitely reach out and we'll let you know where we're going to be playing it by ear and just seeing who we can meet there and who wants this cross-chain liquidity. I'm sure a lot of people's minds are going to be blown
by the fact that you can even do this. People who's heads are often in the E.V.M. land right now. So yeah, looking forward to that opportunity. It's coming in like two weeks, I think, at this point. So it's right around the corner here. So looking forward to that one. And just furthering our
partnership with ShapeShift, because ShapeShift and Dorechane are just so synergistic and just more partnerships like this are always going to be good and being able to work with other very motivated actors in this space to share the same values.
100% love the shape shift team and just like the origin story and it's just a great project all around. It's great to see the synergy has been there all along but it feels like recently with savers and all of that kind of kicked it into high gear.
I'm trying to look at how many aggators, C++, I don't see it. But it doesn't seem like the shipping a ton of different aggators.
So I would definitely check out DeepBuySpot, check out their aggregator, and yeah, I'm looking forward to see what other chains your guys are going to implement. More and more aggregator implementations are like, you know, huge thumbs up from here. So keep building guys.
I guess lastly, there's some website updates. That's really it, just like something else that's been working on myself. So definitely check that out. Thorchain.org is the content that was on Thorchain.com is now on Thorchain.org. They're married to each other now.
So just been pushing a lot of updates to that website is there's more pending changes that are going to roll out soon hopefully today. So yeah, if people have suggestions to the website or just for anything, you can always feel free to DM the door train account and so on. I'll read it and we just take feedback seriously.
want to make our website the best it can be. So does any any feedback on that then you know always feel free to shoot someone online. Eddie DeFi spot says 60 new chains in 60 days which seems absolutely insane. I hope you guys can pull it off. That would be incredible if we saw 60 chains
and 60 days. Dan that's gonna lead us into like like April. Very cool. Cool well I guess I probably just keep it tight today then. Should we just wrap it? Yeah let's wrap it. Alright see you guys.
next Friday pro actually they're maybe right up in space I guess we'll figure this out and hopefully we can get Chad on band from from Twitter spaces and get him on here you like permanently band him it's like I've removed him from the space I'm like 90% sure I didn't ban him but I guess you can't join
back so I don't know what's going on. We'll figure it out. Yeah. Yeah. Oh well. And then, uh, yeah, in two weeks will be at Denver so there probably won't be one in two weeks. And but there should be one next week. So yeah. Cool. And yeah, people can check their recordings. You're going to put it up on the
been uploading the summary of it, I think it's Rect 0x. As I've been doing that, I've been retweeting them. Also on the YouTube, I uploaded a transcript generated by OpenAI. If you wanted to scrub and find the content you're looking for, that list seems a little whole thing.
Yeah, you can easily do that. Just trying to make things easier for people rather than having to listen to this, you know, sometimes long podcast every single week. I didn't know what's going on with our team. So sweet. All right, Chad. All right. See you. See you.