Yo, hey, hey, run. Sorry about that. We're back. Yeah, I've just this short little recap of what I was just saying is that the yield comes
is basically shared, the yield that the current values get today, they're going to share some of their yield with the cold node operators. How much they share is this about how much value they provide to the network.
Does it take some away from what will it like lower incentives for regular nodes in the shorter?
Well, lower into this regular notes. Yeah, I guess so in a sense like those people will receive less of a reward like like I bet that if you right now say I had a bunch of room on the sidelines here and I wanted to bond up with a new value.
And if I were to do that right now and turn to network tomorrow, whatever, then every validator that's currently in the network before I join would get slightly less income than they did before because now they're sharing it with 91 people instead of 90 people.
So that's already true in today's network of like if more capital comes in to bond the network, then that is shared, you know, each individual who's earning capital before, we get slightly less because they're sharing it with a larger, they're kind of slightly smaller.
percent of the pool in a matter of speaking, right? And this is just like another mechanism that some may contribute to security in which case added to security means that that liquidity is shared differently in a matter of speaking. Yes.
it makes sense. And conversely, like if I am a validator right now and I do have a node with a million root of validates, then I decide I know I don't like this. I can go ahead and leave and the act of me leaving causes the yield to increase for the remaining people behind.
Right. I'm guessing also like a lot of node operators are obviously ruined whales and they might like have more than enough for one node but like not enough for two and they might do both. Yeah, like I could do like I could do both. No reason why you could yeah, you can totally do both if you would want to.
really wanted to. But in the end, like it's just like this concept would allow us to double if not nearly 10x in terms of what we can store safely and securely on the network, the pools and then
that could greatly increase from this, right, and still maintain economic security even though we don't have 10X the bond from the valid side, just providing through other mechanisms. And that's really like even if a couple of out there's leave or whatever because they don't want that they don't want to share their yield or whatever it is.
that I'm actually perfectly fine with. I mean I wouldn't do that if I was a validator but if somebody wants to they can and to be in it honest like losing a couple of validators because of that and then gaining two or three times the amount of capital we can store in the pools is like totally worth it.
So a question on that so what in a node providers return also potentially go up though because as you raise those caps more capital can come in more swap slower slippage fees You know the whole flywheel and so wouldn't that potentially kind of cancel the potential loss out? Good question. I don't really know the answer that mean you're right
in the sense that if we get more capital comes in for the bond by these cold nodes and pools get deeper, deeper pools does create more fees and more trades and more of that kind of stuff. And so that naturally will increase yield for the system income of the entire network, which will obviously trickle the back down to those validators.
What the actual balance is between those two things, you know, who knows. But you are fundamentally correcting what you're saying though. But we don't really know, like, if we get 2x in TDL, do we get 2x in trade volume?
I think they're largely correlated. They're not sure if it's like a one-to-one in that sense, in which case the yield would, the liquidity fee income would double in that hypothetical, but the bond reward would not, because the bond reward's the same as in that, how much TBL there is on the Swapserror. But at the same time,
Well, then maybe the fact that we got double the model of equity in the network, that creates a bunch more by-pressure on the rune asset because the number of LPs has increased, or the capital LPs are providing has doubled, or we've doubled the number of savers or whatever the hell it is, or created another demand center
for room people want to arm room in their room like the others in the buy room and so like all that creates you know by pressure on the rune asset which at that's the case then the yield goes up because the block rewards value per block is now more than it was yesterday. So it's complicated thing a lot of kind of different angles look at it but you bring up a valid point.
Very cool. Thanks so much guys. Always a great chat. Yeah.
Hey Chad, how you doing? It's up to you.
I'm going to be a bit different here. So there was a discussion regarding the revamp for the mere. I think it's issue 1510. I just wanted to
to see whether you have any more information on the links of the buttons fast-tracked and that's giving nose a bit more power on over control on the set of the network.
It's one of the key words. I try to remember my memory on this one. This is one is like it's the restructuring the way the admin mirror works and structure to decom that process. Yeah, right? Yeah, it would be great. Obviously some points and some things like
you know, pause lending might be needed to enable beaches when they introduce to some controls needed, but you know, I think expanding the control up beyond the make pause and halts and stuff a lot. Yeah, I think
I think the idea is speaking on the long term we want to get rid of the memory admin. It's played a good and practical use for the protocol and growing phases and ideation and beta phases and this kind of stuff.
But over the long term, what you want to get rid of it. And I think part of what this is proposing is that like that a minority of nodes can enact a change in any particular mirror. I think it requires maybe two or three different nodes to agree on something, to for it to be set.
That is assuming that there isn't a consensus on some other setting of that same configuration. So it's just a way for us to kind of like, you know, get the nodes to play more of a role in managing network rather than the familiar admin doing that. And I think that's probably a good thing in long term.
We had to do an audit though before doing that, with doing audit of those mimeers and maybe demolish some of them so they're not memorable before doing something like this to make sure that we know that what the risks are of one or two nodes maliciously changing one of these mimeers and then causing
some sort of downstream effect that could be, you know, bad or dangerous for the protocol. So this more auditing is being done and researching is being done on that kind of thing. But I think it's a good idea in a long term. I don't know. I don't think there's any plan right now to implement that anytime soon. There's a lot of things kind of in movement right now, but that's something something for a long term.#
for my night. Yeah. You'll want at least to a perfect. Yeah, good question.
I just had a quick question. So in like five years, what do you think is the final form of
in terms of your vision. If you work to bullet point all the features that it can have multi-chain swap, streaming swaps, lending, go down the list, what is the final form would look like in your vision?
The final form, as I would say right now, and of course this is like, I'm privy to changes at some point in the future if it's reason to, but the intention that I have in the next five years hopefully is for Thorchane to become a the biggest exchange
change by trade volume in the world. Bigger than Coinbase, bigger than Binance, bigger than Uniswab, bigger than all those guys and doing more trade volume and better price execution than all those guys can reason less speed on. That's one of the things
I think I'm really interested in getting into a place. I think we're getting there with streamswaps, we're getting there with fighting ways to scale the security of the network scale, the pools of the network, all this kind of stuff. That's the first part. I think I'm hoping that lending will be successful in what it's geared to do. Obviously,
I don't know that will be successful. I think it will be successful and I hope to be successful, but it's very normal. It's very new and so we really can't put all our chickens into that, into that basket quite yet. And technically, even if it launches and it goes very well for the first few months or whatever it is, we don't really know if it's successful quite at that point either.
It's really going to take at least one bold market and one full bear market as well. So we won't even know until the end of the next bear market, whether or not the lending design works in the long term or not. So we can't count our
chickens too early on that one too soon. I would like to see order books done on Thorjane, and be in one of the best places to make orders. And a lot of the things I would like to see done possibly, if we can figure out a good implementation of it, is perpetuals.
tools allows you to do almost instantly to a 10x and trade volume. We can accomplish that without having orholder dependencies, which is what every other D5 professional has since you have terrible oracle dependency. If you can accomplish that task, I think that would be a pretty
pretty amazing to do. At that point in 14, there would just become so ingrained and integrated into every wall and every decks and even most specialized exchanges that it would just become one most critical and bare fundamental pillars of the entire one fundamental infrastructure.
of the entire industry. What happens in five years or ten years or I couldn't tell you that. But that's my intention. That's one of my ideas or advocating for certain positions or whatever. It's in guidance of that viewpoint.
Thank you. Thank you. Yeah, I think the key part of that is really just baking it into as many places as possible and just having more and more protocols that rely on Thorchain to, you know, execute cross-chain trades and just really lean on the strengths of this network and just be
just really becoming the backbone of crocheting DeFi. Like that's really what the end state has to be. And like, you know, whatever features are on top of that, whether they figure out perps or not and like all the other stuff, you know, what the
So, I saw Jay Powell the other day, who was like the chairman of FedGerman, and he was saying, like, Bitcoin has staying power, right?
And it's his way of, I think, just acknowledging that Bitcoin's not paid like a fad. It's not going to go away. And I think part of the reason why he says that is because that Bitcoin is so integrated into so many different industries and businesses that it becomes hard to remove it.
are clearly utilizing it that it kind of has this adoption that's hard to undo and because of that it makes it more safer, more safe as an asset because it's just ingrained in so many things. And to Cow's point, I would love to see the same thing happen with Thorciane where it's just integrated with so many
different places both centralized and centralized that it becomes ingrained to everything and people can't imagine a world without it right and then it becomes like indispensable and that point like you know the staying power is basically forever more or less
Yeah, it's anyone else wanna come up? Sorry about the cut in the middle of that, but the, the, the Rodney is not stuff to that. I can't tell you what, Twitter.
What makes me sad is that Twitter really does have the ability to become like the world's largest radio network/podcasting place. It has the ability to be literally the center of
all that and this is what we're stuck with. Yeah. Yeah. I'm like a kindness. They're on like this skeleton crew I guess right still so like they don't have as many people working with these two.
Good morning. Good morning, just kindness.
Hello. Hey, do you have a question for us? Yeah, I have a little question. I, um, I love the, um, engagement on I'm touching. It's nice. But, um, that's by the,
current state of the market, TOR is actually at 0.9. So I guess I don't know, it's more like a statement. As the bull run approaches, we are expecting TOR to definitely go higher and have a new autumn hike.
So I don't make a statement here if it's a cause because we are more engagement and so many more events are coming up from what we discuss so far.
I'm not sure if I heard a question there or not. No, no, no, we're everyone typed up Chad. This is getting ready. Okay. So some price, hope young. Where?
Yeah, we all have some price hoping I suppose, right? But I would say like just stay focused on the fundamentals and keep shipping, you know, thinking a long term around the short.
And I know it does bring me a lot of faith just like because it really is never stop shooting. It's like there's always like we're always iterating and just like doing something but it's not just building something to the sake of building something it's building things that need to be built right and putting and
putting them into places where they need to be. So it doesn't feel like, oh, you know, this is just like, you know, this is just some kind of like useless project that just like does, you know, it just does things just for like tokens or whatever. Like this is building infrastructure for the entire industry.
like that's why this whole thing is different than like pretty much anywhere else that I've seen at least on like Twitter or just like anywhere else that people like talk about this stuff like this is a it's clearly different conversation that we have here because we're like you know we're actually thinking about how we can
change in the space going forward and bring the services that people need. That we want people to rely on and people want to rely on it. So yeah, absolutely brought up. Roon Rambo.
You're beautiful if you're trying to speak.
Ah yes, thank you. Hello there. The question is, is there an endpoint available in Midgard or for nodes, occurring if sentimenting is available or not? Currently it's not because of the hard cap, but the pools still show mean
I think the quotes endpoint already does this. It kind of like figures that out. We need to do a code for for slots. I don't know. I'm not sure about mincar. I haven't I haven't
I don't look at that code forever ago, literally. So I can't really tell you that. I'll talk about my head. But I think this quotient point will tell you whether it's you can mention or not. Yeah, if you try to do a quote, it'll say like failed to
the simulator swap the hardcaptix he did or something. Although actually that's reminding me that is one thing that the Thorwal team asked to put into the next version just for something to check for the hardcapt like an end point easily query. That's actually probably the edit I need to
to look into that. Because that would make a big difference just in terms of UI. Because it confuses people. Because they're like, oh, it says it's like 20% full, but you can't add. So it's like just having another flag to just say, is there room or not? I think it could be useful.
Cool, you are on set. Second question, more of an idea, would it be possible to make a shared, with a simple pulse between my
retortion, something like cross platform tools. You mean like a synthetic torching deck point and a synthetic myop decoin tool? Exactly.
Yeah, I don't see why not. I mean, I don't think that we would do it on our side of the purchasing side, but I think Mike could do that on their side. Now, I don't see why they couldn't do it. They just have to lock up some synthetics into their, um, thorough address on their, on their network to turn it all over. I don't see why not.
Cool. I will talk to them. Yeah. Thank you. Yeah, no worries.
Cool guys, uh, any less stuff you want to talk about? Anyone else that want to come up?
Not for me. All right, let's ship it. See you next week. Sounds good. All right guys. Check later.