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THORSday - Largest DeFi Swap In History | Huggin AI | Updates & Alpha
Recorded: Jan. 15, 2026 Duration: 1:54:30Space Recording
Short Summary
ThorChain has made significant strides in the crypto space with the launch of its DEX for real Bitcoin swaps and the introduction of the Rujira app layer, enhancing its offerings. The platform is witnessing growth through record-breaking trades and innovative token launches, despite facing temporary setbacks due to security issues.
Full Transcription
Thank you. well can i get a mic check from all my friends at the tcm turn guys give me a thumbs up if i sound
okay in the audience we're about to get this party started
we are having an incredible week an absolutely astonishing and incredible week oh my goodness
with the coke thank you for the thumbs up With the Coke. Thank you for the thumbs up.
Thank you, Captain.
Thank you, everyone, for the thumbs up.
I must sound good.
I am unbelievably excited.
I can't wait for Chad to get in here.
I am so thrilled, man.
So thrilled.
I really want Chad to speak about this moment, him being a core contributor.
I don't want to steal his thunder.
I was going to want to really kick to him.
But I'm going to go ahead and get this introduction out of the way you guys welcome one and all
four chain is the first dex to swap real bitcoin and now you can use every bitcoin wallet in the
world and you don't have to connect it to a website same with e xrp bnb tron doge and more
eventually be able to swap any token from any wallet. ThorChain is turning into a full layer one liquidity engine where apps can be built on
top of it.
The new app layer, Rujira, unlocks lending, perps, Bitcoin back, stablecoin, token, launchpad,
NFTs, prediction markets, and much more.
You guys, ThorChain isn't just a DEX.
It's becoming the protocol of pure uncensored liquidity.
Swapping on ThorChain
is permissionless. There's no KYC. Anyone in the world can use it. To swap on ThorChain,
go to ThorChain.org and click on swap. You do not need to connect your wallet to make a swap
on ThorChain. New features and functionality will be added to the site over the next few months. If
you encounter any issues whatsoever, there is some resource on there for you to submit a token ThorChain's token is called Rune that is spelled R-U-N-E you don't
need to buy or hold Rune to place a swap on ThorChain but the fees deducted from your swap are
used to buy Rune and this Rune is the yield that goes to liquidity pools and nodes there are no
block rewards on ThorChain 100% of the yield is real
and ThorChain is currently deflationary
with 5% of the revenue being burned.
If you hold Rune on a centralized exchange,
you should withdraw into self-custody
because those tokens can be used to short sell Rune
and drive the price down on yourself.
And once in self-custody,
please look into bonding your Rune to a node
to earn some yield and help secure the network.
A really great
site for that, guys, is runebond.com. It is so easy. All you have to do, select a node, request
a whitelist, and then bond your rune. Additionally, a shout out to the audience and to the community.
Runebond, Runtard, and other node operators can help new node operators and be a broker for finding
them. If anyone out there knows anyone who has technical skill
or is interested in becoming a node operator,
or maybe you yourself want to become a node operator
or at least want to inquire about it,
please reach out to me, Kenton, Runtard.
We will get you going.
Runtard is at Runtard, are you any tard on X.
ThorChain has another token called TCY.
This token is kind of like a preferred stock
where 10% of the protocol's revenue goes to these token holders. If you deposit crypto
into Savers or took out a loan on ThorChain, make sure to claim your TCY token so you can
start collecting this yield and anyone can buy the TCY token on ThorChain.org as well.
There's a ThorChain community discord and telegram. You can join, learn all about ThorChain,
make all kinds of friends. To find the links, go to at Thor,
that's T-H-O-R, community account on X.
These spaces are aimed at towards anyone
in your ThorChain journey,
whether you're a brand spanking new or hardened veteran,
there will be something for you today.
You guys, we are having a wonderful week.
My name is Denny.
My other account is Patriot Sounds.
I have been an educator content
creator for thor chain going on half a decade now we have been setting multiple records this week i
want chad to really break it down i don't want to steal his thunder but i'm going to kick it to
kenton real quick kenton how you doing buddy i'm good man thanks love your intro dude you get you
get me going so it's good um oh yeah i give I guess, a quick update on marketing in the front end.
So you guys know that some of the features on Doorchain are paused right now
because of the security bug, and one of those are limit orders.
So limit orders on the front end, that's being delayed
because they can't do any testing.
So that's being held off for a bit for now.
Otherwise what else?
There's another little bug about I guess the proper ETH balance wasn't being pulled for
some people.
That is supposed to have been fixed now with BlockChair.
We're using BlockChair as the blockchain explorer. But BlockCh supposed to have been fixed now with BlockChair. We're using
BlockChair as the blockchain explorer. But BlockChair said it's fixed now. So hopefully that's good.
Then we keep having some issues with people using smart contracts to do memo-less trades,
which doesn't work, right? And people can end up losing their money.
So right before we had like just like a warning,
don't use a smart contract.
But now we're gonna do like a checkbox.
Like you actually have to check it off,
hopefully force people to read it.
And so this is, you know, more iteration guys.
You know, if you think of something that'd be better explained or how to do something, whatever, just bring it up, you know, send it to us.
But, you know, when we see these issues, we constantly trying to think of like,
how do we prevent them?
So hopefully the check box will help protect people from losing trades and
memelists. That's the front end.
From marketing, some good news.
Me being persistent, not taking no for an answer,
I was able to acquire the ThorChain handle on LinkedIn
and have another one removed.
So there's a couple handles,
and I got the one with the most followers
and got the other one deleted.
So the other small one deleted.
Actually, Chad, you've got that on your bio.
You'll have to go update it to the new at ThorChain.
Yeah, I'll do that.
But there's only... So on LinkedIn, it should only be one ThorChain page Yeah, I'll do that. But there's only,
on LinkedIn,
it should only be one ThorChain page.
It's ours.
We control it now.
And so we're going to start posting there.
So if you guys can,
you know,
go give it a like,
give it a follow,
you know,
boost the users there.
That'd be great.
I've also got control of the Facebook page.
So the Thor thor chain handle on
facebook um again if you guys can go give it a follow whatever you know uh that'll help we need
we need at least 100 followers on it before we can start doing certain things um like live
streaming or paid ads um and then they told me i don't want to jinx it, but I think it should be fine.
I should be getting the Instagram account too. I don't officially have it, but they told me
today they're going to get it. It just hasn't happened yet.
You need 100 followers on the LinkedIn or the...
Facebook, on Facebook, because there's zero followers on the
Facebook page yeah so if you guys can follow it through your Facebook account do you put out like
a tweet or like a link or whatever yeah I'll do I'll do it right now actually just while we're
talking that's a good idea I've been jumping from a bunch of things today. So link on Twitter. And then, so this got me going looking
at the other plug. And I got that all for free, you guys. That was just me digging in help desk
articles and getting in. I was actually on the phone with Facebook till like 1 or 2 a.m. the
other night. It's actually surprisingly helpful.
I thought this was going to take months.
You know, I'm like, I'll just get the process started and see
be a bunch of red tape and, you know, back and forth.
And it only took like a day and they're like super responsive.
And they actually they actually asked to talk to me on the phone.
I was like, holy smokes.
So and LinkedIn basically just handed it right over to me.
It was pretty simple.
So I started looking at YouTube and TikTok.
Those are a bit more difficult.
And YouTube, for now, we should be fine
because we've got the ThorChain community.
We'll use that.
And they've got some followers and content.
So that's the one we're going to use uh thor chain community handle on on youtube for now and then
on tiktok it's so frustrating because some guy got the thor chain handle like six months ago and um
so uh i'm looking into it That one might be more difficult.
But regardless, if we were to get it,
we have to have an existing account for them to assign it to.
So I had to create a TikTok account anyway.
And it's not like we would acquire any users or anything from the existing ThorChain account.
So we have to have our own handle and just you know start using that it's called ThorChain contact and if um
if I am able to acquire the pure ThorChain handle they would just change our handle to ThorChain
and we keep all our followers all our content everything the same so we'll start doing that um we'll start growing that one and um
um um yeah so the the goal here is just you know we have all this content on twitter
let's start reposting it elsewhere you know just start growing the audiences elsewhere
um um we wanted to start doing paid ads right we want to pay to get our, you know, make our commercials, our content out there.
So we need an account to do it.
And we just had a call today.
I mean, a few of the guys were like,
everyone agrees we had to do video content.
And so we made the decision today,
we're gonna move away from Spaces
and you start using
riverside um so chad hopefully you're cool with it um but basically we'll it'll be like a zoom call
might we have you know we'll have video all our faces we'll all be talking and we can stream it
live to twitter and linkedin and facebook and all these other platforms do it live.
And the, the only real hang up with doing this is it, you know, you guys are guests and
you're listeners, you know, for you to request to come speak, you won't be able to do that.
Like on, like on a Twitter space, you'll have to come to the restream, sorry, the Riverside site to do it.
And so there's supposed to be a link where you can come do it.
And apparently you do it within the browser.
You don't have to have an account or anything like that.
So so hopefully it's just as easy for you guys to come up to ask questions and whatnot.
And but we'll we'll also have like a like a chat box.
So if you don't want to come up you
just want to type in your question we'll be able to get that um and then can you still do like
stream it to spaces or like the whole thing is from spaces to riverside or whatever no it starts
at riverside it's there it lives there and then it's streamed to twitter so it'll be a live stream
on like the twitter account and i don't know if it'll be a live stream on like the twitter account
and i don't know if it'll be like an actual post so you can people be able to watch it tune in on
twitter um yeah the but they'll probably be able to tune in on like other places too like you know
maybe tiktok or something else i'm not sure what but yeah yeah we can we can this is another reason
we need 100 followers on facebook and we need a,000 followers on TikTok in order to live stream.
Yeah, yeah.
But that's the goal.
And same with YouTube, right?
We'll be able to connect to the YouTube channel and live stream there.
So we'll be able to live stream this space to all of the social channels.
And more importantly, get rid of the rugging, right?
I mean, how many times have've been rugged with these stupid spaces?
And, but the bigger picture goal is, you know, putting faces to our voices.
And so when we have these spaces on YouTube and, you know, people want to see video, right?
They don't want to just listen to audio, right?
And hopefully we can start connecting
basically with a whole new audience and um you know we become more personal personable to people
and and then when with the coke starts taking clips of these videos and whatnot um posting
them on tiktok and instagram you know youtube shorts like the actual you know video social
channels hopefully that'll help help open up a new audience for us so you know we shorts like the actual you know video social channels hopefully that'll help help
open up a new audience for us so you know we kind of we want to you know try and grow and focus on
the video content and and the nice thing is like there's no real cost the only real cost to doing
this is just you know our own inertia right and just us getting used to doing something different
but um um so yeah so i think over next week, we're going to try and get
set up here. So hopefully, next Thursday, we'll try our first one and see how it goes. And yeah,
that's, that's what we've been working on. Cool. Nice. Good job. Thanks.
Awesome work, man. Fantastic. Is that it, Kenton, on the marketing?
On my mind? Yeah, I've been focused on this all week.
I don't think there's anything else. Yeah, nothing else important anyway.
Perfect, man. I'm really glad you mentioned the smart contract thing. Me and Coke were actually working on a video.
We got it done on the memos, but I think we're going to redo it now. We're definitely going to redo it
so we can mention that spot.
We want to make sure we're up to date.
So I'm so glad you mentioned that.
So we're already chatting in DMs about,
so we're going to get it done after this space.
But I hope you guys can feel the momentum.
I mean, we're a second week into the year.
Go ahead, Chad.
I'm sorry.
Oh, no, sorry.
I didn't mean to say anything.
Oh, okay.
You're good.
We're the second week into the year.
Can you guys feel in your chest?
Do you feel the momentum? Do you feel the cadence? Do you just feel the wheels turning? You're just pushing towards Asgard like a hundred miles an hour. So unbelievably excited. This second week of the year, we have broken records twice. And within one week, twice of the entire blockchain industry. And Chad, this is where I want to begin because I don't want to really break this moment down really this is kind of a lot of your moment as the beginning
contributor of ThorChain right what ThorChain started I think it was what 2018 at a hot hack
athon in Germany I think it's Berlin if I'm not mistaken I'm going from memory here and look
where we're at today guys 2026 and we breaking records. We are showing the entire blockchain space what is possible.
So if there was ever a space for you guys to share, let it be this one.
Whether you're listening live or the recording, please share the space and spread the word
about what Kenton needs when it comes to social media, getting that Facebook account up.
Let's get the TikTok up.
But this is where I'm going to kick it to you, Chad.
How are you feeling, man, right now now seeing what we have accomplished over this last week
you're really you're really giving me a running head start on this uh are you referring to like
the larger trades is that what you're excited about yeah that's not exactly what i'm talking
about yes yeah yeah yeah no we've had these massive trades.
There was like, I think there was, initially, this is all by the same person, by the way.
Initially, there was like a couple of trades from BDC to XRP.
And I think that was like 30 BDC and 50 BDC, which is obviously a lot of money.
And then they traded, I think it was like going from BDC to Ether I think that was like
22 million dollars trade
and that's like
to my memory
maybe somebody who's
you know
can like look it up in the data
but like from my memory
I don't recall seeing
a single trade that size
you know
it was 22 million
I think it was yesterday
or 21 million
and then today we saw the same address, the same Bitcoin address,
did another trade for like 32 million or 33 million, whatever it was.
I think it was 32.
Passing through the network, it's going to take about,
I think it's like 12 hours for the protocol to process that large of a trade.
And what's crazy is that there's been a really significant uptick in the arbitrage
kind of things.
Like, they're doing
an extremely good job
kind of maintaining the pools
through this, like,
really large trade,
which is, like, very, like,
unusually good
relative to our history.
So I'm actually, like,
that's probably
the most bullish news
out of all of this.
It's not so much, like,
the size of that trade,
but how well the ARBs are arbing. it just shows a level of like new maturity um and and the protocol
which is obviously very very positive um and what's even more interesting is that like this
this bdc trader uh they still have another like 32 million bdc sitting in that wallet
uh and i'm presuming or assuming that they're going to make another trade tomorrow
of the exact same size as we saw today.
So I think in total,
this user is throwing through like 1,000 BDC,
if I'm not mistaken.
1,000 BDC is a lot of Bitcoin,
if you didn't already know.
If anybody was confused,
if 1,000 Bitcoin is a lot of money uh the
answer is yes uh actually i don't even know where to top my head uh i don't even know what the
bitcoin price is right now was it 94 000 hundred million dollars basically yeah but just shy of
100 million dollars so 100 million dollars being pumped through the networks. And without a hitch, you know, like it's not going to be a course.
But like it's all been going very smoothly.
The ARBs are doing a fantastic job ARBing it, which is great to see.
And so like it's a very, very positive thing.
And I think part of the reason why we got these trades more than arguably anything else is that like um i think chainflip and near and
these guys don't actually support trades of that size i don't know why that is maybe they have like
they have some sort of rules in their you know ecosystem for a reason but like like if you go to
you know swap kit or like thor swap cui and you try to trade like you know 300 bdc or something
they don't even come up as an option so So I assume that means that they don't even support trades of the size.
But in any case, you know, we'll take it.
Yeah, we will.
I don't mind it.
You can go ahead and throw me, you know, throw that.
There actually was a conversation internally about, like,
what we should do when we get something of that size.
But after discussion, there's not really much to do, you know,
from a security perspective.
There's already systems in place that kind of help mitigate security risks to some degree.
But anyways, like it's obviously like a very, very positive week.
You know, it's a good way to start off 2026, I'd say.
But yeah, it's exciting stuff.
Yeah, and I was just on a space before this space with Dash.
I'm just, you know, I'm trying to
get as much out there. And I talked about this swap and I did get inquiries of like, well,
how are you doing that? How does that work? And, you know, I broke it down how exactly it all works.
And I think we're getting a lot of eyes, guys. We're getting a lot of eyes with this swap. I
mean, it just, this is a proof of concept right here right in front of our eyes seeing it in real time what is possible
with our design um it takes a while to get it right it's been very complex i think chad could
speak about that better than anyone but uh yeah hats off to you chad hats off to you and the devs
nine realms everyone who's worked on thor chain this, this is an incredible week. I am just so unbelievably grateful for your guys' hard work.
So well done.
Yeah, I mean, if I can just brag for a moment here,
because this is probably the best place to do it.
Like the reason why we can take such a massive trade
and still get remarkably good execution
is because of our streaming swap idea
that we came up with a couple of years ago.
And I remember when I had this concept
and I spoke to JP about it and we had to invent new math to make it work and all
this to make it, you know, functional. That's a huge kind of advancement in our exchange.
Before that point, we really, like you wouldn't see a trade larger than like $10,000 typically,
or, you know, maybe somebody wanted to do a $100,000 trade
and they'd break it up manually
into 10 different trades or something.
And I actually recall getting into a debate
with somebody on the Nine Realms side.
I'm not gonna mention that person's name,
but they were arguing against streaming swaps.
I didn't think we should do it.
And they said like, well, we'll never see a trade
who wants to do more than $10,000.
That was the argument that they said to me at the time.
And I was like, what are we talking about?
Like, if we could support $100,000 trades,
I wasn't thinking $32 million trades at that particular time, to be fair.
But that was like a huge change, right?
And what we were capable of actually executing.
And once we get like, once RapidSwaps is like running,
I'm not going to go as far to say
that you can do a $32 million trade in a single block. That's probably more than the ARBs can
take. But the ARB, the trade would happen basically as fast as the ARBs can move their
liquidity. It's probably how fast it would be, which would be significantly faster than the,
you know, 12 hours that the current
trade is like happening at so um rapist i'm really excited to see that happen because that's going
to make it even better that we can trade you know 32 million dollar trade and get executed like
extremely fast would be a nice little bragging rights we have i'm seeing lots of clapping and
thumbs up go ahead kenton wait till we're in a genuine bull market we'll do the 30 million dollar trade over block it'll happen give it a cut i think in order to in theory you want to
do that you would need at least you know 32 million dollars worth of arb capital you know
available on the network um i don't even know how much our capital is really like on the network
today um i might be sure if there's an easy way of calculating that, but 32 million is a lot.
If ARBs become even more mature than they are now, maybe?
I don't know. I'm not going to be presumptuous, but maybe.
Well, you never know. I'll say you never know.
I wouldn't be confident about it. I'll say that.
So if you have multiple ARBs,'t can't multiple arbs facilitate one mass
like if you had like 50 people trying yes yeah right that's true well and also too chad if i
remind you how rapid swaps work i mean what if somebody's you know what if you've got 31 million
dollar trades going the other direction right then they yeah. That's, in effect, what an ARB would be doing
was putting up,
let's say an ARB has a million dollars
in the Bitcoin pool specifically.
It would, you know,
swap through that million dollars relatively quickly.
Then the ARB would have to take
the result of their trade,
put it through,
typically through like an exchange,
like, you know, Binance, for example,
or something like this,
back to the original asset that it started,, back to the original asset that it started,
but back to the source asset that it started,
and then put the million dollars back in, right?
And so like, however long that process takes
is like the roundabout time
that it takes that ARB to move that million dollars.
Let's just say it takes like,
let's just say that takes five minutes
or let's make it easier, 10 minutes, right?
So that means like in 10 minutes, they can do $1 million worth of trading for this particular pool in this particular situation.
So how long would it take in 32 minutes?
Well, not that long relative to the 12 hours that we're currently trading at.
So even if Arbor only has $1 million instead of the $32 million, you're still going to execute it relatively quickly to what it is now.
But to what Boney Bones was just saying,
it was saying that you could do it where you have multiple ARBs going
and the collective capital together would be able to ARB it even faster.
But I'm not even talking about arbs.
I'm just talking about what if there's some random people
just doing a one-way swap,
but it's the opposite direction, right?
It's going to...
Yeah, that's true.
Right?
Yeah, that's true.
Yeah, absolutely.
If there's, you're right,
if there's random people just swapping
in the opposite direction,
then absolutely, that could totally happen.
The arbs only really matter when,
after you net out, after you net the flows one way and the other way whatever is net
left over that's when when it really matters for the arb's right right but you do generally are
are left to the opposite most scenarios because if you've got a bunch of capital going in the
reverse direction you know let's say another 30 million,
there's a decent chance you've got another 30 million going in the other direction as well.
People trading from Bitcoin to ETH or ETH to Bitcoin.
Because it's like just making the assumption
that at any given moment,
there's an equal amount of capital going towards Bitcoin
and towards ETH.
Oh, that's not necessarily true.
There's like market conditions that could cause it,
you know, be lopsided on one other.
In a general sense, in a kind of homeostasis perspective that might be true and so the arbors are just kind of the are the ones that are kind of leveling out between the
two it's a it's a shame that limit orders are down right now because isn't this a good scenario where
limit orders would really help the ARBs,
where they could place their limits really help, like on big dollar sizes like this?
Would that really help them manage absorbing this size trade?
Yeah, it would help.
It actually would give them probably even better execution, I'm guessing.
And on paper, it should.
I don't know if impracticality is a bit more complicated
because there's a lot of chaos in the real world.
But on paper, yes, it should execute even more effectively.
Cool.
So these trades, they're all going through TrustWallet, right?
I believe so.
Yeah, yeah.
Yes.
Yeah, which is kind of surprising
that much money is coming through that kind of wallet. But maybe they're using Ledger on TrustWallet. Yeah, yeah. Yes. Yeah, which is kind of surprising that much money is coming through that kind of wallet.
But maybe they're using Ledger on Trust Wallet. It's possible.
And some people have noted if they skip Trust Wallet to use swap.darchain.org, they'd save money.
That's fine for us to notice, guys, but I don't think it's wise to promote that or talk about it we
should instead be celebrating how many fees trust wallet is earning off of this and um you know if
we can say you know trust wallet made you know however many thousands of dollars you know off
of these trades we can use that to prod the other wallets and say like hey trezor why aren't you integrating
thor chain you know hey you know whatever wallet look what you missed out on look what trust wallet
has done and um you can you can make these fees too uh integrate thor chains api it's free here
you go right all this cost is your dev time to do it. You can do it pretty quick.
That's how we talk about it publicly and promote it and in turn benefit Torchain
and play nice in the sandbox with our partners.
We're not trying to cannibalize their volume.
We still want them.
We still want them to integrate Torchain.
So if anybody knows how much TrustWallet
has actually made out these swaps so far,
let me know.
I'm curious.
I think I looked at one of them yesterday, and I think it's like 50K.
Does that sound about right?
Or did I misread it?
Holy smokes.
I don't know.
I've been more or less offline.
I've had my head down in work.
I've really been paying attention to stuff.
Okay, it's 70 basis points, right?
So that would be 0.007.
You multiply that times 31 million.
I get $217,000, almost a quarter million dollars in fees.
I think they get the whale thing, though.
I think SwapKit is a thing where if you're a whale,
you get like half the the affiliate fees i think or maybe just thor swap and not swap kit i'm not sure
okay then the bot is wrong because it says 0.7 but i think you're right chad that's a that's a
good point if you make a huge swap then it's i think you get discounted rate well that's on
but that on trust wallet yeah you're right not swap, right? Thor swap will do that, I think. And swap kit takes that 0.7% that trust wallet is charging. They pay a portion of that to swap kit, but it's not. I know it's I know it's a fraction of it. It's not. So I think it's 0.7 i think it's the full that's what's being charged
wow congratulations a lot of money yeah that's a that's a lot of kentucky fried chicken boy side
that's that's a lot of money for one swap and well there was another swap the other day and
like chad said another swap may be coming tomorrow.
Logically may come tomorrow.
I mean, he did the exact half of what he did was left in his wallet.
So you could infer that.
Incredible.
Absolutely incredible.
Literally, the amount of BDC left in the wallet now, I think,
is the exact, almost exact amount of Bitcoin that he's swapping right now.
So I'm making the assumption that the rest is going to come through,
but maybe that's not true.
Regardless, we've already done very, very well.
Kenton, I'm curious, do you plan on marketing?
Like when something like this happens,
do you have any specific technique or idea of how you can take advantage of it in promotional context?
Well, that was just it.
That was the pitch I gave you.
And then I relayed that to the ThorChain Twitter account guys.
That's how they got to talk about it.
I think they've been posting some stuff about it.
Yeah, I put a thing up top.
World record speed run guys and uh call
to action to the i'm sorry to cut you off kenton um please guys share that and like kenton said
celebrate how much money our partner trust wallet has made from this swap and how other people can
cash in go ahead kenton sorry uh no that was it as far as like anything kind of like like like
bigger idea picture than that no i've not thought of anything um i mean i guess we could write a blog post or highlight it in a quarterly report um
yeah i'm not sure how else to really get it out there beside word of mouth
um did you have any ideas like what did you have in mind well so just to splash a little bit of
cold water situation the situation,
we don't actually know the source of these funds, right?
I don't know if it's legit or illegitimate, right?
And I think we got burned some when the whole Bybit thing happened,
and we were excited about a bunch of large swaps before we actually understood
that the money came from a Bybit hack and whatever.
I don't know where this Bitcoin came from.
I'm not a chain analysis person,
so I don't even have the skill set really to figure that out.
But I didn't want to get too crazy and celebrate something,
and then tomorrow it comes out that it was some sort of hack
or something more nefarious.
From what I understand. And again, I, this is not me checking at all. Um, I,
I, as far as I know, there is no, um,
hack or anything associated with these funds. Um,
and I guess we could also just deduce that if there had been,
and it slipped through the wire,
I would think that swap kit would have added it to their filter, right?
Um, they had a whole, they've had days to do that.
But I don't know.
You're right, Chad.
Maybe we can just wait a little bit and make sure it's all secure.
But I've heard from more than one person that they can't seem to see any nefarious origin of these funds.
So let's hope that stays true.
I mean, to be honest, like if I'm being honest, like it's unlikely that's unlikely that it's, I mean, it's unlikely that it's legitimate because like, honestly, if you are a person
that's trading legitimately, like you probably want to go through a centralized exchange
in the sense that like you get to see OTC dealership prices and there's accountability
if something goes wrong. And it looks like, you know, like there's somebody who has the
money rather than going through a DeFi protocol, which is harder to claw back money that goes you know wrong whatever like
i don't know if i had 100 million dollars that i wanted to survive through bitcoin to be honest
i'd probably go through a syntax exchanges because it's like safe in the context of like
there are people that are held accountable if it goes wrong i'm being just being blunt and honest
in a sense in this current moment you know yeah well there are even just even an otc desk like you know you think that much
money you've got a personal relationship with a white glove uh trader right like it's yeah
and you get like in really great deals at that at that kind of volume yeah you know but
i'm being honest.
And I agree with you about like celebrating too soon.
That's why in the past, whenever I see these big trades,
I personally am just like,
well, let's just not maybe talk about it too much.
But since everyone's been talking about it,
I just kind of assumed like,
well, everyone seems to be okay with it.
Maybe there's been, maybe it's all good.
Cause I have no insight either.
But I feel like we usually find out pretty quick if it's associated.
And I've not heard anything yet.
Yeah, I haven't heard anything either.
I'm just fearing the scenario where something comes out
and then you have people like ZachXPT or other people who are like,
just start yelling, but oh, you're celebrating nefarious.
We saw this in the past and it's like annoying as hell.
I was wondering if, what if it's something totally different? What if it's a trust wallet trying to promote trading in trust wallet?
And be like, hey, look, you can do $20 million trade to Bitcoin in trust wallet.
Like, you know, and they're trade to Bitcoin and TrustWallet.
That'd be interesting.
That's an interesting theory.
I mean, they should definitely roll with that,
even if it's not their money or whatever. They should definitely be part of their marketing materials.
Hey, you can trade $100 million in TrustWallet,
and it works just fine.
Have they promoted it?
Has TrustWallet tweeted anything about this?
Not that I'm paying close attention to this stuff, to be honest with you.
Like I'm not, I don't really spend much time on Twitter personally.
I'm too busy with other more practical real things.
But like, maybe.
I would, if I were them, I'd be like, just give your community and your, you know, more confidence that they can move real values.
Because I think the connotation is that you can't move,
you know, large trades.
There's not enough liquidity and DEXs
and all the liquidity on Binance and Coinbase.
And there's some truth to that in some sense,
but like, obviously, we're proving it wrong.
I mean, we even saw like a trade,
like this is probably one of the most fascinating trades
we've ever had on ThorChain.
Like if there was some pool,
I want to say it was like the WBDC pool, maybe i'm mistaken and it was like the pool itself was like four million dollars
and then somebody traded six million dollars through a four million dollar pool and like that
was like to me that's like that's incredible the fact that you can trade larger than the pool size
and still get amazing execution that's what we have here that's what we have here um let me get
the numbers okay i got the numbers right here uh's what we have here um let me get the numbers okay
I got the numbers right here uh I'm gonna quote here from Deb discord this swap with 323 Bitcoin
to 8800 ethereum um and the pools only have 216 Bitcoin and 2560 ethereum that is almost 4x on
ethereum and that's over 50 percent one like what you said
chad on the bitcoin in oh yeah i didn't even know that yeah it's pretty amazing isn't it
all because of the efficiency of streaming swaps makes it all possible
it's incredible yeah um gosh dang this is this is so but you know kenton okay we have trust
wallet hasn't talked about it and you know to Chad's point, let's be a little careful.
Let's wait a little bit of time, make sure these funds are legitimate.
But Kenton, maybe this, because if this is good money, this is a very important historical moment.
I wonder if TrustWallet would be interested in doing a space with us and we can just talk about it and celebrate it maybe.
What do you think?
You think that's, that's possible.
You know what?
I have a better idea.
Why don't we reach out to trust wallets,
see if they'll do a space with us and talk about this.
Right.
Exactly.
Exactly.
I'm teasing you,
man.
I'm joking.
Yeah.
I think.
I think.
Yeah.
I thought I was having a stroke.
It took you a while to catch on yes i think that's a great idea uh yeah yeah uh tc intern if you're listening can you maybe maybe uh dm them and i don't have any contacts there no patriot
if you have any i don't know if you know anyone there. I think the people at Nine Realms do. Reach out to, I think, Orion or Familiar Cow if they don't.
Okay.
Or maybe even I do.
You know what?
I don't even pay that close attention to my Telegram that much
because I guess I'm before I'm busy with other things.
Oh, yeah.
I am in a group with TrustWallet.
So maybe I can reach out.
There you go.
There you go. That's really can reach out. There you go. There you go.
That's really cool.
How exciting, you guys.
This would be, I mean, yeah, they would want to do it
because it's such an incredible amount of money
that they swapped within their app,
the amount of money they earned.
And it just shows, like, it goes to their ethos.
We are TrustWallet.
You can trust us with unbelievably sized swaps
in our own app.
I mean, game over for them.
That's absolutely wickedly awesome.
Kenton, I just added you to the Telegram group.
Oh, baby.
Oh, baby.
So if you want to like, I'm just going to,
you can take off from there and see if you can
get some interest in doing a co-space.
Are you guys so excited in the audience?
You guys are listening to's go down in real time
this is so unbelievably cool um i could riff on this new big swap all day but chad i do have a
couple uh questions from the community um okay this is something that i have been getting blown
up on all week okay and i'm getting blown up by people on x who are not even necessarily part of a thort
chain they're figuring out thort chain they're looking the question typically is when monero
now that's not the real question i want to ask you when monero because i know we've talked about
that before but this is coming from a node operator i don't want to say who they are you
could probably easily figure out who it is but um the main question is, you know, a lot of people are asking about Bonero.
The libraries have since improved since Black Protocol came about, right?
Can we add Black Protocol code that the libraries improve?
Can we have the return of Heimdall, an OG dev of Thorchain?
Maybe some people don't know who he is, an absolute legend. Do you think that is something that can happen,
the return of Heimdall for this one task?
That's the question.
So for people who don't know,
Heimdall and I were really like the two technical devs
on Thorchain in the very beginning.
And so him and I have known each other for a long time, and we've worked close together for many years.
And a great engineer.
The guy is, like, really great at, like, especially, like, tracking down bugs and doing, like, root cause analysis.
He's fantastic at that.
He's really, really good.
And I remember, like, years ago, he was working with JP to put together, like, a branch on GitLab where it does, like, the Monero support stuff, which is, like, a ton of work because you have to add so much complexity to ThorChain to support.
It's not as simple as just, like, adding another chain in the typical sense.
Like, you should, like, figure out, like,
view keys and, like,
it's, like, a really complicated thing,
which is really why
you probably haven't seen a lot of Monero,
like, other competing DEXs,
like Mir or Chainflip.
Because it's just,
it's very, very technically complex
and it also comes with, like,
arguably the highest like you know
concerns from like
a government perspective
because they
you know they don't like
Manero for
obvious reasons
yeah so
HanGal's like
he's still like
around in the sense
that he's not working
on Thor Chain
hasn't worked on
for quite a while
but he's still like
friendly with the project
convincing him to come back
to contribute to this one thing
is not far-fetched
I don't know if he's if he'd do it or not but but one thing is not far-fetched. I don't know if he'd do it or not,
but it's not too far-fetched.
In terms of using the multi-sig capabilities
that's built in Monero,
if the devs are saying that it's now safe,
because last time I looked at it,
the devs are recommending to not use their own multi-sig. It such that it wasn't there was just too many exploits too many issues um I'm
hesitant to do that I mean I prefer just to use the same cryptographic system we've been using the
whole time that we know is we have a very great deal of confidence that it's very safe and secure
because it's been around for so many long so many years um And there is an interest to move away from GG20
towards something called DKLS,
which is a newer cryptography that's even more secure
than the GG20, in my opinion.
That is definitely a long-term goal of the project.
When is Monero going to get launched?
It's hard to say.
Hopefully this year.
It's a matter of prioritization.
What's the top five most important things to work on?
Is Monero in that list?
Probably not.
Not with intense and...
Not from my perspective.
Of intense and...
What's it called?
Opt-in security.
Which is probably a requirement to get Monero going is opt-in security
because Monero is such a, like a, you know,
there's a lot of contention around
whether or not we should add Monero.
Like historically, we've always kind of like
been a hot debate in the community.
I've always been a supporter myself.
But once you have opt-in security,
that kind of removes the the the conflict around adding
it or not adding it because it has each individual validator can just choose to support monero or not
and and then it will just work just fine um i don't know i'm okay with black protocol if the
funds are small like if the pool is is shallow and doesn't get to the Bitcoin pool size,
I think I'd be okay if it's a shallow pool.
If it had a couple hundred thousand dollars in it,
yeah, I think I'd be okay with that
because even if there was some sort of exploit,
we're not losing millions of dollars.
We're losing a couple hundred thousand at most.
I sent you...
Go ahead. I'm sorry chad i sent you the link um uh to um you
don't have to look at it right now of the specific point question because your point was excellent
because we don't want to distract the current desk from what they're doing that's why the node
operator one node heimdall would make a legendary return i don't know if you saw that thread in dev discord in the general section where basically it's like 20 plus people just chanting out heimdall's name the whole list
of people was so cool to see um uh so that's that's kind of what they wanted to strike because
you're right and if we could have him to come back and just give it a shot because i am seeing this absolutely everywhere i'm having people reach
out to me um people want monero on thor chain they really this it's just it's really hotly
asked for right now yeah no i get it and i i want it too i've been i've been advocating it myself
for a long time you know uh getting kind of like i thought something i'd have to reach out to him
uh or jp and i would have to have conversations with him and see if he's willing to step back in the fold.
And I don't know what's going on in his life.
I don't know if he's busy or not busy or what.
I don't know what that is, but possibly.
I can't say it one way or the other.
I haven't spoken to him in a while.
Of course.
Of course.
Yeah, no pressure on you whatsoever.
But that's the question.
It's a hype train right now.
Everyone has just got thirsty for Heimdall for some reason. on you whatsoever but that's that's the question it's a hype train right now everyone everyone
has just got thirsty for heimdall for for some reason so i sent you their link to it but that
it's just really funny i just love how spontaneous that was um yeah yeah um okay um let me see here
i don't think i have too many questions you guys this is a big big space if you guys go to the
thor chain uh telegram you can ask any question you want.
Of course, people can request to ask direct questions whatsoever.
But yeah, man, this has been a really, really great week.
How do you feel?
I want to ask again.
I want to know personal satisfaction.
How do you feel internally just seeing what's going on through ThorChain right now?
Does that give you deep satisfaction?
Or are you hungry for more? You're like, this could be better. I'm not satisfied. How do you feel internally just seeing what's going on through ThorChain right now? Does that give you deep satisfaction? Or are you hungry for more?
You're like, this could be better.
I'm not satisfied.
Like, how do you internalize it?
I mean, for me, I see that as a validation of the design.
That's how I see it.
The fact that somebody can make a massive trade, the fact that somebody has made the
trade, like somebody made the conscious choice that they wanted to swap $100 million and
they chose to come to100 million and they chose
to come to ThorChain of all places. That's like a validation of the community. It's a validation
of the product. It's a validation of our reliability, validation of a lot of different
things. I think that's what I take out of it more than anything else. And I do look forward to,
as Kenton kind of alluded to earlier, that like, you know, in a more bullish market,
we're going to naturally going to see more volume, I presume. And with that, you can get like,
you know, maybe more of these massive trades, you know, and more validation.
I do have a question now, and I totally agree with you, by the way. So people were interesting
people were interesting because me and coke have been playing with this and i've got other questions
because me and Coke have been playing with this and I've got other questions too.
too uh long tail assets on memilis um if we talked about this before i'm sorry i don't remember
uh well exactly what we said but um you know there are some assets that memilis does not support
um i know you we got rune support coming um are all long tail assets coming at some point could
you maybe talk a little bit about that uh from for memilis yes sir yes yeah um i think the only reason why memilis doesn't work for
uh other assets and it's predominantly just the um the um what's it called the the erc20 types
right like all the gas that doesn't, to my knowledge, like secondary assets
on like other chains that are not EVMs,
I believe works, but I'm not sure of that.
So don't quote me on it.
But it just requires, I think, a router V6 upgrade,
which is something we've been talking about doing
in our weekly engineering meetings for a while now.
And we keep on talking about getting it done
and getting it done and getting it done,
then not getting done.
They wanted to get it done.
So I think once Ryder V6 gets adopted,
I think then we can do Memolist for ERC-20s and that kind of thing.
Any arbitrator asset should work in theory.
Very cool.
I think that'll also help because with the coke and i were doing a video and we
picked an asset that wasn't supportive and we're like oh okay well this is something we definitely
can prove so glad to hear if that's awesome um kenton did you have something you wanted to add
uh yeah patient people don't know patreon messaging each other in Telegram. I'm trying to post something to this space.
I'm trying to post my tweet for the links to LinkedIn, Facebook, and TikTok
where people can go and follow those pages.
I got you, brother.
I shared it.
I'm going to get it.
So we acquired the 14 handles?
Yeah.
Yep, I got it above.
Yeah, I got you.
And then TC Intern, if you're listening, if you can, you know, over the next couple of days,
maybe I'll talk to you later, but we should maybe post these a few times
and try and get some followers there, try to get it going.
Thanks. There you go. I see you now, Patriot. Thank you.
Yeah, no problem, brother.
And yeah, guys, for those who are just tuning in,
we need to hit certain follower thresholds on Facebook.
I believe it's 1,000 for Facebook and 1,000 for TikTok.
So help us get to 100.
We definitely have more than 100 people active in this community.
Tell your friends.
Share it to your various node operator groups.
Say, hey, if you're on Facebook, just follow this.
Let's get that three digits.
That way we can get marketing going.
This is how we all work together to get the show rolling here,
get the wheels turning on ThorChain.
We have a lot to do this year.
We're hitting the ground running, guys.
So super exciting.
I'm still on the lookout, guys, for questions.
We've been chatting about the record-setting day,
this record-setting week, I should say.
Do you have anything on your mind, Chad, that you want to discuss?
Oh, the Hugin. Let's talk about the Hugin AI. How's that going? It's going pretty well. It's actually been really fascinating because
there's been a sudden influx of bug report bounties to our security team
since Christmas Christmas basically.
And we're realizing that a lot of these bug reports
are just like the things that like humans already found.
Right?
And so it tells me that there's like, you know,
I guess because of the holiday season,
you know, people are, you know, off of work
and they have more like, you know, free time.
And then also Claude Anthropic doubled the caps of using their LLM.
So there seems to be a big push in just the general security industry
to use Claude or something like it to analyze random code bases,
not random, but just specific code bases,
and find issues and then use those as kind of pathways to report bug bounties.
So the timing that I had to build this Huguen bot and start to find these things,
kind of funnily, comically, just kind of happened more or less at the same time
as everybody else, more or less. So that's what it seems like to me at least so um myself and the security team
have been going through a lot of these kind of things that you went who you're gonna found
vast majority of them are like not even issues they're just false positives i'm actually surprised
like how many false positive positives we get through you know using these kind of ai models
like it's more frequent than i would have guessed before doing it,
which just tells me that there's just additional work
that needs to be done to, like, reduce the false positive,
reduce the noise, increase the signal kind of thing.
And so I'm going to be, you know, actively working on that
over the next, you know, quarter or two.
But it's going, like, really well.
And it's found, like, a bunch of things.
Most of them are
non-issues, not even the false
positives. It's actually found
something that could be deemed to be an
exploit, but it's not an exploit because of this
other part of the code that the cloud
system didn't even
realize or look at. But it's still good
to patch anyway, even though it's not an actual
exploitable exploit in a sense. But it's still good to patch anyway even though it's not an actual exploitable you know exploit in a sense but still good to do it anyway just be you know
completist about it um but yeah it's it's now like producing its own prs again i think we only
got one merge already and more coming um and we're going to be doing a lot of work around like
improving its ability to to like do it more effectively. So one example I wanted to think about doing
is getting multiple agents to work on the same thing,
the same issue.
So it kind of reminds me of the old movie Minority Report.
You remember that film with Tom Cruise back in the day, Minority Report?
Yes.
And they have the precogs.
Some of the precogs is like two twins
and like and then agatha i think was the name of the the female precog and she was the stronger
of the three or whatever and it's like they collectively work together to to define whether
there's going to be a murder in the future do you know what i mean that makes sense yeah that's
what we're talking about hopefully this makes sense to people. I'm not just like, you know, being confusing as all hell.
But like, I kind of thought they did like something similar
where you get like, you know, a bunch of different LLMs,
you know, Claude and Gemini and, you know, Codex and whatever else.
And they analyze, they find some sort of issue
and they try to convince each other.
They have a conversation, a little round table conversation.
And they try to convince each other that this is an issue
or they convince each other that this is not an issue.
It's actually not an exploit because of this
or it is an exploit because of that.
Or it's not even an exploit, just like this is a bug in the code
that should be fixed or whatever.
And then they go through that and they do it several times each.
So when validating that if something is a false positive,
then it evaluates the same thing several times,
like best out of five, let's say,
so that it even further reduces its noise-to-signal ratio
so that we have much more signal, a lot less noise.
So these are some things I've been kind of thinking about
just to get the system to behave with more precision and more accuracy,
not only just to establish what an issue might be, the system to behave with more precision and more accuracy,
not only just to establish what an issue might be,
but also maybe part of the development process as well.
So that was producing a code change
that uses several agents together
to collectively review its own code
or plan how it's going to make this particular change.
And they convince each other what the plan should be
just to kind of create like a collective intelligence that hopefully performs better
than anyone would do on its own.
I don't know if that makes sense to people.
This is my thought that I'm kind of considering of like building out
to help just make it even more efficient or more effective as a tool to help us find problems and fix them and monitor mainnet for potential
issues. Makes sense to me. I mean, there's so many models out there. You got Claude,
you got Anthropic, you got all kinds of stuff. So yeah, I think it's a really interesting idea.
I'm curious. I know you're still going through the things that are being submitted, but how many, maybe they're not the biggest things in the world.
Maybe they're just like slight improvements or just slight redundancies in code.
But how many positive things would you say he has found so far, even if they're not even that big of a deal?
I'd say probably like one or two.
Initially, it found like hundreds of GitLab issues
or hundreds of potential bugs.
Then I made some code changes to make it more resistant to false positives
and it went down to like a hundred or so.
And then myself and the security team,
we started just kind of like going through them one by one
and manually just kind of confirm or deny or whatever the legitimacy of whatever the claim was.
And we found like a lot of them were, you know,
even though it would probably cut it down another half or so of,
like, this is not really an issue.
And then like other ones that were an actual issue,
a lot of them were just like what I was explaining earlier,
where that's like, yeah, technically like, you know,
this code could validate this thing or check this thing before going forward.
That would be a good thing to do.
It's not really an exploit because this thing is validated
or checked before, you know, in this earlier part of the code
or maybe in the later part of the code, depending upon the scenario.
So it wasn't like a big issue or anything like that.
But, you know, you should check it anyway, right?
Like security should be an onion.
It should be layered.
And so, you know, you're not just reliant on one specific part of the code
to be the crux of your security.
You want, you know, layers of it
throughout the entire systems that if there are,
you know, if you miss one,
another one will catch it later on.
So we'll make those changes, like, you know,
in the nearest future.
But in the end, like I would say,
there was like one or two like good bugs
and the rest of them were either false positives or
you know misdiagnoses of things because like when i was doing this initially i was asking
hugan to look for like what we call p0 or p1 issues like p0 is like like funds are at risk
the network could be halted funds could be lost because of this trade bug, whatever.
And then P5 would be like very trivial, very small things, right? It's like priority list.
P0 is highest, P5 is lowest. So I told like to only look for P0, only look for P1. Don't worry about P2, 3, 4, or 5. Like we can do that like another day. Let's just stay focused on like the,
you know, the highest priority things for now. And then once we burn through all the P0 and P1 bugs,
we'll probably turn on P2 and then start burning through those
in that kind of sequential order.
So it found a lot of things,
but very little of it was actually a significant problem.
Yeah.
So let's say
it finds a P0, P1
issue. It's going to
secretly tell you about it first, right?
It doesn't make anything public. Is that how it
works? It finds some critical bug
and... Right.
What it does is it creates a GitLab
issue with confidentiality
turned on. So you can create GitLab issues that are private,
and the only people who can see it are developers like myself, for example.
Maybe for P2 or P3, you can just make it public
because those aren't going to be significant issues.
Although you can make an argument that it's miscategorizing this thing.
It thinks it's a P3, but in reality, it could be a P0
or something like kind of false analysis
or making a mistake in the analysis of what the P's parity should be.
But right now, all the issues that it creates are done in a private fashion.
And then humans get to go in there and review it all
and close issues that are not really a problem or whatever.
And then we can assign the task to the Huguen bot.
There's a little like, when a GitLab issue, you can like assign it to somebody.
Like this is your job to, your task to fix this issue, whatever this issue is.
And so then a human can come in and like assign it, you know, to Huguen.
And then Huguen has its own little script that it runs that like will like pull issues that it needs to workin. And then Hugin has its own little script that it runs that will pull issues that
it needs to work on and open up a PR or merge request to address that concern. And then
humans go in, review the code change, and I can get in there. And I've already done a few times
where I can comment and say, hey, this is great, but you missed this or, you know, don't forget
about that or whatever. And then it'll read the comment and it'll like make a change and
update the PR again. And I can comment again and hit approve and eventually hit the merge buttons.
So humans are still part of it, you know, the critical components and parts of the system,
at least it is for now. And so, yeah, yeah. your question i think i think i've answered it yeah
you did 100 yeah okay very cool that's the only possible thing i could think of and i figured that
was going to be the answer anyway but you know gotta ask um okay guys i i got i'm looking for
questions in the audience i'm not seeing any um a lot of people we did talk about go ahead i have a
question yeah uh remember patriot we had uh paul puhi
from edge wallet on last week and uh he had a question for you chad um or for thor chain in
general is um you know when you do a large streaming swap if if like the price moves and
like the first like swap or two fails chances are are all the rest fail, but you got to wait
however many hours for it to, to go through before it, it, you know, it, um, you know,
you can, you can reenter your trade.
And he was wondering, is there, I'm pretty sure this is, this is question and comment.
Um, is, is there any way to like, you know, if know if the swap fails in the first few few attempts
few blocks or whatever can the whole thing just be canceled instead of waiting the the few hours
to to go through all you know all the different tries um um yeah so i've had some thoughts on this
lately um out of coincidence to some degree.
Yes, it is possible to do something like that.
The simple answer is yes, it's possible to do something like that.
I'm not sure if it's because, I mean, what is the analysis that decides to do it?
Like how many swap?
Like if it's, do you want to just hard set it?
Like if the first three swaps first or first 30 because it could be one swap or 30 swaps or 100 swaps or whatever
does that change the analysis and you know all that kind of stuff i think the better way to do
it the better solution to it i'm thinking is just being able to cancel those those transactions
because right now when you do a market market swap um you know it's kind of fire forget. There's not really an ability to like cancel it or change your market swap after the
fact. And so like, you know, that's kind of, I think that's the root of it more than anything
else. Like giving you the ability to cancel if you choose to. And I think what's like, what I've
been thinking about lately, and this is not like high priorities, I'm not going to be like rushing to do this, but like, I feel like there's a lot of opportunity to like really simplify our swapping kind of like
world in some sense. Like we started off with like simple, let's like straight up swaps.
And then we went to like, you know, streaming swaps. And then there's like, you know, limit
orders. And then that's like, and there's like editing those limit orders. And then there's like, you know, limit orders. And then that's like, and there's like editing those limit orders.
And then there's like also the idea of doing like,
we've talked about adding DCA swaps.
So you could do like, you know, long-term trades
that like slowly buy into an asset or sell out of an asset.
And like, but all of these things are like really the same thing
with just different, like it's the same thing with the same attributes,
just different values for it's the same thing with the same attributes, just different
values for those attributes, right? Like a DCA is the same thing as a, as a, as a streaming swap,
but it's just a higher interval instead of being like every block, it's every, you know, 10,000
blocks or however speed you want your DCA to trade V, you know, and like a limit swap is the same
thing as a market swap, except for it just doesn't,
instead of trying 10 times and canceling,
it tries 10 times and keeps on trying
until it gets the execution that it wants.
These things are all kind of the same thing,
with just small little differences between them.
And we have these different terminologies
for these different scenarios.
And it's just like, I'm thinking to myself,
like maybe what we should be doing
is just like a refactor of the swapping logic.
And so that everything's just a swap
with the same attributes.
And you can just use attribute A or B or C,
like a limit order, like a specific price you want.
And don't give me, you know, give me anything back
until you get the price that I want.
You know, everything can be canceled or modified after the fact. Just like everything just being like a swap and then you can just get whatever behavior you want just by, you know,
pulling the knobs and the lever of a single swap kind of interface. Does that make sense?
I'm not sure if I'm being clear in the way that I'm communicating here, but I might be poised to kind of refactor our swapping system
to be just to be like a single swapping mechanism
that has a few different levers you can pull on
that can achieve almost any kind of output or behavior that you want.
You know?
I think I understand.
But isn't that kind of the point of AppLayer?
Is that that'll be more granular there?
Well, AppLayer can do whatever they want.
To me, I'm just thinking about the layer one base layer.
And I'm thinking to myself that maybe this is a little bit more complicated
than it needs to be.
And I can just simplify it.
And to be honest, it's really more like simplifying the code
more than it does anything else.
You know, we have this like different pathways
within the code for, you know,
a streamer swap will behave a little bit differently
in that scenario.
And a limit swap behaves differently in this scenario.
And this happens in that.
It just like makes the code a little bit more complicated.
So maybe I'm just thinking more
from a technical coding perspective than an actual you know something else but i don't
know it's something i'm going to continue to think on and ponder on in the coming months but like
once we get to a place where we get to ossification uh and we're just looking to shore up our current
thing and not really you know and just trying to make the foundations more stable and solid, blah,
blah, blah, that I'm, I'm considering the idea of like refactoring just to make the
code a lot more simpler.
And then it's called everything is a swap and you can just have some lever attribute
that you can get whatever behavior you want.
I don't know.
That's just the thought.
Well, I mean, it sounds, sounds good to me.
I mean, the user to me I mean the user
will have as much
choice as they want
right?
yeah
it's like they have a lot of choice
to pull whatever levers they want
and it's up to the UI
to expose
whatever levers they choose to expose
to keep it simple
for like simple swaps
or really complicated for like
hardcore traders you know like it's up to the up in the UI to kind of figure out what they want to
do got it um actually this makes me think of something else so I was kind of going through through the um uh priority list of things on on the front end and um uh the next like after limit
swap we're working on limit orders um the ability to do permalinks so like bitcoin to ethereum
dogecoin avax and have it pre-populate in the um on the on the swap interface so we can use those links for like coin get going coin market cap and
stuff and then and then be able to adjust the streaming settings so that's that's kind of what
should be coming out in the next couple weeks and after that there would be query orgs right you
would just put up some query yards and the url to determine what the source address is, you know, target address, target, uh, after it is so forth and so on.
Sure.
Or are you talking about permalinks?
Like in the sense of us, maybe this is too technical to get into right now, actually.
Sorry.
Yeah, it's okay.
And I'm going to a bit of a tangent, just letting you guys know kind of what, what we're
working on now.
But, but the next thing after that will be
like actually have all the features like bonding um pooling and all kind of stuff
and i was looking at the you know going through everything and i came across runepool
and i'm i'm personally not a fan of runepool and like and i was thinking what you just said earlier you know we the ui can decide what they show to the user and i'm wondering um and i was thinking, you just said earlier, the UI can decide what they show to the user.
And I'm wondering, and I was thinking,
well, should we only just show withdraw for RunePool
or should we also show deposit?
I thought RunePool was being, maybe I'm mistaken.
I thought RunePool was going to be deep-admitted or something.
Or am I confusing?
Well, I hope so.
And I think that was
always kind of part of the plan but i don't think it nothing's happened um yeah and i'm pretty sure
you can still deposit into it i could be wrong i could be wrong too i'm not sure yeah and um
um and so in my mind like if we're going to show this to our users, should we only show withdraw?
And then, you know, if somebody really wants to deposit,
they can do that through, like, a memo.
You know, they can write their own custom memo or something.
Or being the official front end,
is it kind of on us to show every possible feature?
I'm curious what you guys think.
I mean, I would lean towards every possible feature.
I think RunePool.
I thought RunePool was in a similar boat as Thorpey
in the sense that it was all being retired.
But maybe I'm mistaken.
I'm not sure.
I wasn't even around at the time
that all these conversations were being had.
But if that's the case, then yeah,
withdraw only, I guess.
I don't know.
I'm not sure.
Yeah, I think that was was my memory serves me runepoo was kind of thrown in there like let's just you know get rid of it and clean up door chain and i think there's a general
consensus on it but i think um i think just nothing got done because it was just like yeah yeah it was just you know
just too much work and effort and like i think i think if i remember correctly i think the idea was
the um yeah that we're gonna we're gonna yeah how did it work you know i'm gonna stop talking
i forget um but i know we did talk about it last year and i and i'm pretty sure it just
kind of went nowhere yeah yeah i mean i could look on the chain right now and see if it's
look look at the mirrors and see if there's anything that's you know turning it off or anything
um I see RunePool enabled one.
So that means it's open, right?
I guess.
I'll just ask AI because I'm lots slower than the air i'm glad you don't know off top
your head chad because whenever i go through it i'm like oh man yeah i gotta always remember
and refresh how it works um so if you get if you gotta do it too i'm not feeling so bad
no no no i mean it's a lot of code, a lot of things.
And so I don't blame anybody for not knowing all things at all times.
And the things I learn, I often forget.
There's a lot of things you got to put in your brain in ThorChain.
And now with the Riturian AppLayer, it's crazy.
I do have a...
Oh, go ahead, can I?
Yeah, so it is enabled in this current moment.
So you could deposit if you wanted to, I think.
Although I'm not sure if anybody wants to or not, but
it is there. So it still
exists in one form or another.
Well, I'm wondering if while things are kind of
quiet in Discord,
I wonder if we should start a vote maybe to
disable deposits and just
start winding it down.
Yeah, maybe. That might
be the right thing to do.
I don't actually quite know off the top of my head.
I think it requires a deeper conversation
with the rest of the devs and the teams
to think about what its future is.
Sounds good.
At least if we disable deposits,
oh, I think, well, maybe, yeah, RunePool enabled,
I think if we change that to zero that might prevent withdrawals
as well yeah that might i think maybe that's what it was so that's why it is if that's the case we
should make a code change that creates two minirs like one for you know deposits and one for
withdrawals yeah okay well i don't want to i know people are busy so if it's if that's the case i
don't want to make a big thing out of it um yeah yeah yeah no but uh yeah i do i do have a question
here um it is a follow-up on xmr monero um it's from max power he says why why don't we do a
classic multi-sid for a small xmr pool similar to the i don't know, W-A-G-U, the WagyuCow guy?
He coded this all in small time.
Why not?
Oh, I know what he's talking about.
He coded this in a small time.
Why not even make him participate until we can figure out a real Asgard vault for XMR code?
Well, adding Monero to ThorChain is not just about the cryptography at all.
That's just a component for sure.
But there's a lot of ThorChain code that needs to be changed.
And that's not even the chain client thing.
So we have within the ThorChain codebases, there's primarily two different codebases.
There's more, but primarily two.
And that is the Bifrost code and that is the Thor node code.
The Thor node code is the actual blockchain that has like, you know, that is the actual
things that all the we validate on, the nodes.
And then there's the Bifrost code, which is the code that stares at and observes transactions
on external chains and signs transactions and like does primarily two things
for the most part and whenever we add a new chain there's almost no code we need to make on the
thorn thorn node side it's definitely a little bit but it's like it's very very small and very very
easy almost all of the work is just doing the chain client itself and i think if we were to add a
monero it's not just a bunch of bifrost changes it's also a significant amount of thorn node is just doing the chain client itself. And I think if we were to add a Monero,
it's not just a bunch of bifrost changes,
it's also a significant amount of Thornode changes as well.
So it's not just about the,
how do we securely store the Bitcoin
in a cryptographically secure kind of way.
And I don't even know if like,
if using the multisig is even an option for us,
because we have, usually multisig have a limit on like how many,
how many signatories you can have in a multi-sig.
I think for like Bitcoin, I think the max is,
I want to say, I want to say like 18 or 19,
like somewhere in that vicinity.
You can't have a multi-sig larger than that many.
And it's different per chain.
Like every chain has like a different amount.
And I don't even know what the amount is from an error.
Like if it was like, let's just say it was 15,
well, our ad scrap files are 20.
So, you know, that's not going to work out so well.
So there's a lot of like questions
about whether it's even possible in our scenario.
I have to do like a deeper dive into it.
But it's not just about the cryptography.
It's about the bifrost change.
And uniquely, it's also about a large amount of Thornode changes
dealing with the decrypting of the information.
Yeah, I'm glad you asked that question, Max Power,
because it just shows us a lot of complexity with this.
It's just not a simple plug and play.
I think everyone knows that.
But even a good nuance question like that,
there's a whole onion to unravel about exactly how to make it work.
So interesting question for sure.
And, you know, okay.
And in this telegram group,
people are really excited about you talking to Heimdall again.
I'll just let you know again.
They're thirsty for that man.
So, yeah. It is funny. I haven't seen him in a long time. let you know we're getting chatted. They're thirsty for that man.
So, yeah.
It's funny.
I haven't seen him in a long time.
Like, we worked side by side together.
Sorry, we didn't work side by side together for,
because like when I was building Thor Chain in the early days,
I was living in Australia with JP,
not at his house necessarily, but in the same city.
And he was living in a different city in Australia at that time.
And so I had never even met him in person.
And I met him eventually.
We did this ThorChain meetup in Bangkok a couple of years ago.
Every developer that was a part of the project just got together because we've never been together as a team before.
And I was like, you know, I think that's the only time
I've ever actually met him in person. and i would love to give that guy a big
giant hug again if i could that's so cool he's i i know nothing about him obviously and for good
reason but uh he's if you're listening to this recording man you are an absolute chat i remember
him submitting his little code like him talking about his pushes to get, like the guy's like a machine.
Like he's inhuman machine.
He's just, he's incredible.
Like he looks like an AI talking on DevDiscard.
I'll never forget reading.
I'm just like, man, this guy's on a whole nother planet.
Like he's just a savage, you know, when it comes to coding.
So very cool.
Very cool human.
Yeah.
Very awesome.
Great, great dev, great person to work with
good personality easy to work with i love him great guy
and let's see here um i got some people are asking questions here um
uh okay no i can't formulate that into a question okay um thanks guys i appreciate it
i made efforts i know
well hopefully with um when we move to riverside i think we'll have like an like a live chat box
so if people type stuff we should all be able to read it. And then we can, you won't have to interpret it for us.
We should all be able to see it.
Yeah, that's, yeah, that helps.
Yeah, I think it'd be really interesting.
I think people seeing the face will definitely get more people,
more eyes on Thorchain.
So I'm really excited to do that.
And it just makes the content more engaging, right?
When you've got real humans looking at each other, laughing.
Because right now we're just a bunch of dudes like talking at a mic it's not it's not super thrilling you know but uh but
yeah very cool um kenton did you have anything else at all um i'm waiting for questions guys
um if we got nothing else this has been a wonderful space record-setting week um but if we got nothing
else we can maybe we can close down early because uh me and coke got work to do and we got we got nothing else, maybe we can close down early because me and Coke got work to do.
We got some videos to shoot.
I feel the same way.
I've got about 14 things that are half done right now,
so I'm happy to put a pin in it.
Unless, Chad, you've got something else
you want to keep going on?
I got a question for you two guys,
and it requires an answer.
What is the best movie trilogy of all time?
Lord of the Rings.
I think it's Lord of the Rings.
I think so.
Trilogy.
That one's tough.
Well, I don't know.
Honestly, it's probably Star Wars.
The original trilogy
yeah okay yeah yeah it's a good it's a good pick i mean empire is awesome um
yeah i was gonna say the matrix but i mean i don't know the
it's actually like well a lot of people that hate the second and third but i i i like i still like them but definitely not the best uh yeah yeah uh indiana jones that was pretty good um oh yeah that's a great trilogy
um i don't know about anything more recent um yeah i think i think star wars still holds up
yeah it does yeah i actually i was gonna say lord of the rings too because there's a i don't know
people know this is like a 25th anniversary of Lord of the Rings.
You can go see the extended version of the films.
Those are the key.
Of the films.
You got to see the extended versions.
There's so much.
And in theaters, you can go to like AMC or Regal theaters
and see the original films in extended version.
So I like plans this weekend with some friends
to have like a movie marathon at the theater.
That's what made me think about the question, but yeah.
Lord of the Rings was one of the best. Yeah.
I'm actually a big fan of the John Wick films.
They're not very like they're just, they're kind of hollow,
but they're so much fun to watch. Yeah.
So when I totally, and I, you know,
they came out pretty far apart. Right. And I watched like,
I did only John Wick four or something though but um and i
as it's going on i'm like you have to second or third i'm like oh it's just it's just kind of
more the same and like uh it's getting kind of boring yeah but then i actually watched them
all in a row like like one day after another and it was awesome because the they stuck to
the storyline so well and it actually is like um it's like only a few
days have passed i think like so when you actually watch them that close together you remember the
storyline better and so it makes the second third one that much more interesting because they're
referring because if you don't remember what happened in the previous movies then it kind of
sucks because you don't you forget the story that's the thing it's like nothing nothing happened in the previous movies because
it has like no plot line to it well it's just like that guy with gun beats up people right
that's like the entire plot line right there it's like the uh taken films with like
Liam Neeson where he's like this is no story here this is his daughter just kidnapped for
the nth time and he just goes,
beats up some like,
you know,
Albanian guys.
And that's like the whole storyline.
And I don't care.
It's,
it's fun.
Oh man.
And,
are you going to,
Chad,
are you going to dress up
for the Lord of the Rings movie?
I am actually.
I am.
I got,
I did Gandalf
because I'm tall and skinny.
Oh yeah,
that's perfect. Gandalf would make more sense. So I got a wig and I got... You're going to be Frodo? I did Gandalf because I'm tall and skinny. Oh, yeah, that's perfect.
Gandalf would make more sense.
So I got a wig and I got like a long pipe.
This is the cheapest crap on Amazon.
It's not like expensive or anything.
But like, and just like this long kind of like pipe weed.
You know, if you're familiar with the films, like they smoke the South Farthing weed in the film.
I'm not sure if you're familiar that much with it.
Anyways, I thought it'd be funny just to go to the movie with the pipe in a in a gandalf you know uh wig
on just for for giggles yeah you might even be underdressed oh sorry patriot no i was gonna say
chat is tall i i've hanged with him a few times in real life i'm uh i'm almost six foot like five
foot eleven and i look like a baby next to him like it's embarrassing so that's perfect that you're gandalf i forgot how tall gand of course
he's with hobbits right i would be your hobbit if we were to go um we do have a speaker that
did join up uh scott how you doing scott what do you got for us hey you guys um boy i was
i was missing these spaces over the holidays and just thinking about the project and stuff.
It's so good to hear everyone back.
I have a few questions and a little trip into my fantasy land of what might come down the pipe for us if we decide we want to work on it.
side we want to work on it is it okay if i run those things by and take a few minutes you absolutely
Is it okay if I run those things by and take a few minutes?
You absolutely can.
okay so first listening to us talk um kenton something that came up really quick just now was
where we have these giant swaps now obviously they're on thor wallet but uh i'm sorry trust
wallet but would there would there be any value in in possibly having someone assigned and putting it out there, you know, to try and attract these whales if possible to say, hey, especially as marketing moves forward, if you want to do large swaps with our really efficient streaming swaps, we could save you a lot of money. We have a contact person, our own white glove,
almost like an OTC person, who could hold your hand
through the process, who could talk about,
is there a deal we could give you,
depending on the volume?
Would having someone on tap just in case
and kind of having a little script for them set up
be something that might be valuable to look at now,
but, you know, as we go forward, you think?
I think it's a good idea.
I like where your mind is going.
Like, you know, treat your bigger customers better.
Treat your best customers great, right?
Yeah, at that point.
The way I kind of view it is,
well, this is why I think we, I think we should have a, a tiered,
uh, fee schedule so that, um, you know, the big trades are automatically get a discount
without any, you know, uh, human intervention.
And then, um, as far as like kind of like the white glove service, that's what I view
Thorchain community discord.
Um, that, you you know they want to go
in and talk to somebody and have their hands held and and the kind of nice thing with the community
is they treat every try to treat everyone the same whether you're you know thousand dollar trade or
a million dollar trade um and so i don't know if maybe in the third chain community discord we could have like a whale section but
then you know how do we prove it um in my mind like third chain is supposed to be like more
automated and and do it yourself um and we we should make it and again just in my mind kind of
way i've thought about it before your question is um is we should make it as easy to use for a whale
like up front and so that they don't need the white glove service they don't need their handheld
if they can just go do it and but yeah I mean I'm not it's not a bad idea I just honestly
never really thought further about it yeah Well, you can actually within Discord
prove that somebody is a whale or not.
We already kind of do it already with our make relay command
where it validates that this person talking is, you know,
a node operator.
And it doesn't just by like cryptographically signing a message
onto a server that broadcasts it for them.
So it is possible to do it
if it's something you're really interested
in kind of pulling on.
Yeah, it just popped into my mind
and I thought,
and part of this comes from personal experience.
I had some rune and Kenton had put it out there
that he had some space in the server to bond it.
And I had no idea how to do it.
And, you know, Kenton was very nice and really kind of held my hand through the process.
And I thought, God, if someone has a lot of money and they're like, well, I do it on these exchanges, but I'm afraid to push this much money through some, you know, decentralized thing.
It's like, what if we had a little thing where they could connect with a person who could say,
hey, if you're serious, yeah, you know, and just walk them through.
But it can't.
And obviously, it would be ideal if we made it so intuitive that even a normie would come up and go,
oh, how simple, boom.
So if we get there, I would love for us to not even need to think about that.
But this is just one of the
things i wanted to throw out there um the other was a question i think cad might know more about
this there was a discussion late last year or mid late last year uh it and there was a great sketch
that they put up about a way to connect maya protocol and thore chain they were
using uh the rugira app layer to do it and what it essentially did and this may be in the works now
my understanding is there have to be a vote for it to be completed is it would allow both maya and
thor chain to share all of the, all the assets that they supported,
not the intents,
but the actual full-on chain support.
And that the idea is it would maximize
the chain carrying capacity of both,
you know,
each could use all the others they could hold.
And obviously there's going to be a max,
something like 20 or 30 chains
or however many
total we could hold um before it just becomes too cumbersome for the project in general and i i don't
understand technically how those limits work but i've heard that thrown out as i followed both
projects is that still in the works is that still something that people are excited about or was that
just an idea that um is kind of on the back burner
now because it looked beautiful
when they drew the diagram out
yeah I vaguely
remember this a while ago
it must have been maybe two years ago
I remember there was active conversation
between myself
and JP and the Maya team
to create
a more
close coupling
between the two,
a dedicated kind of channel
to swap back and forth.
So if you were to...
I don't know whatever happened to that.
If it got deprioritized or I'm not sure.
I don't recall what the final result of that was.
I think if you were to bring it up
in the dev team now
with the Maya protocol now or whatever,
there'd probably be a lot of support for the idea.
I think there's still really a lot of good vibes
between the Thorchain devs and the Maya devs.
And there's a lot of positivity between us all.
And having a closer integration, I think logically makes
sense. I can easily make arguments for this personally. So yeah, I think that could definitely
be done. I'm not sure if it actually was done or what, because that was a while ago and I can't
recall how it ended. But yeah, I think it would make a lot of sense to me to have a closer
integration with them. Yeah. And Chad, this was just this last year. This was in 2025.
There was some meeting where, you know, Alux had a picture of him
and I think JP and some other devs,
and they had just hand-drawn it like on a dry erase board.
They would both donate all of their,
or there would be connection through Ruggiero
and each could access and trade the other's main chains that they support.
And I thought, my God, that maximizes it for both of them.
What a wonderful solution.
So, yeah, it just sounded like such a good idea.
I thought, God, whatever happened to that?
I hope they're still thinking about it.
I haven't heard anything about it in our internal conversations since I came back to the project, which was, you know, maybe that was like six months ago or eight months ago or whatever it was.
But I remember having technical conversations about how that would be actually implemented and brainstorming with, I think it was Alux and JP about getting that done.
But it's been a while.
Okay.
I think I might have to add a little bit here.
So from what I understand, this is definitely in the plan
because the app layer is in the roadmap of Maya Protocol
at the end of this year, approximately.
But a lot of work has to be done to make ThorChain
and Maya Protocol similar enough
in order that they can send these secured assets
via some unique
implementation of ibc to each other i can't really go much deeper than that but there's just a lot of
work to be done so that we can even get to that stage where it's technically possible from what
i understand it's definitely um on the road map it's in the cards i don't know if thor chain
becomes more like maya or maya becomes more Thorchain. I don't know enough to comment, but that's from what I remember.
Yeah, that makes sense, what you're saying.
Okay, well, thank you for answering that.
So good, I can still be excited about it.
The other is I am always, always, always, like, obsessed with the optics of our chain
and how we are looking to people who look in and how we come across.
And I was looking at post quantum encryption and obviously came up with my
kind of idealized fantasy of what we could be here.
of what we could be here.
And it goes like this.
And it goes like this.
After we have the opt-in chain support
and the intents and everything up,
if we could do...
JP had posted about looking at post-quantum cryptography
for the Vault-I-Sig wallet.
And I was thinking,
if he could accomplish that by the end of
this year, if we could get post-quantum cryptography in place or quantum resistant for ThorChain,
and they could do it on Ruggiero, this dovetails into another thing that I found so fascinating
as I looked at it was every bank, every big financial institution in the world and governments, they are all looking at how to make their stable coins quantum resistant as well.
And, you know, programmable and everything else.
But what I was thinking was they've already minted stable coins on Rjira um back when they were kujira they had
them and i was looking at some of the it's so fascinating there are a cluster of they exist now
quantum resistant cryptocurrencies that you can trade now they're smaller projects but you could
do them if you search on coin gecko and stuff
when i poked around their sites you can at least the way it reads you can take their technology
and you should be able to mint a quantum resistant um a quantum resistant stablecoin
if we could have a quantum resistant stablecoin and this may be more of a Rujira question, on Rujira, and a quantum-resistant wallet to keep it in with Vault-I-SIG, and then once we have the opt-in chain support, if we could get a few nodes to kind of take one for the team and adopt a small cluster of these quantum resistant cryptos,
then what we could say is,
hey, come look at ThorChain, come look at Ruggiero,
come look at our community,
look at our end-to-end suite of post-quantum trading options.
If we could say that, not only would it be a huge feather in our cap,
but for the first time in my mind, since streaming swaps,
we would be off the technological back foot
and front running the rest of the market
and even the big banks on all this stuff
because we would have that.
Now, obviously, a lot of things would have to happen, right?
And this is something that would happen later in the year
after all these things like rapid swaps and stuff were put in place but that could be huge and it sounded so sexy when i thought
of it i was like god i should bring this up and just see is is that possible have you been behind
the scenes kicking around you know how do we reach this next level of encryption um chad there's the
new encryption you want to um for ThorChain that you say
you think is much more secure.
Would that support some of these post-quantum, this post-quantum cryptography?
And I'm way over my skis here because I'm not a mathematician.
Well, yeah, I'm not a mathematician or a cryptographer myself.
I know some about this stuff, but I wouldn't consider myself to be an expert by any stretch.
I know some about this stuff, but not, I wouldn't consider myself to be an
expert by any stretch.
So quantum resistance comes with like a multiple thing.
So like for you, we're talking about like quantum resistant cryptos.
That's like kind of true and it's kind of false at the same time.
So like if you have a quantum resistant crypto on, let's say, Solana or on Ethereum, the ECDSA or EDDSA that kind of secures the chain itself is not going to be quantum-resistant.
Maybe the coin is resistant, which I don't even know what that really means, to be honest with you.
Because usually when people talk about quantum resistance, what they're talking about is either being able to brute force your passphrase,
right, your mnemonic phrase, which, by the way, your mnemonic phrase is actually not really the
12 words or 24 words. Really what it is is actually 64 characters, alphanumeric characters,
and you just encode those 64 characters with, you know, 12 words or 24 words, just so they're easy to write down and not, you know,
typo a D that looks like a six or something like this or whatever.
So there's one way that a quantum computer can just guess
every permutation of those 64 characters
until it finds one that generates a wallet that has crypto in it,
like Bitcoin or whatnot.
That's like one way to think about it.
And then you also have the cryptography itself of like ECDSA or EDDSA or these other things.
Now this is getting into like cryptography, which is outside of my personal expertise.
So if we wanted to make ThorChain quantum resistant, it would probably mean making a custom fork of the Cosmos SDK
that no longer uses EC-DSA or ED-DSA for that matter, or any other ones that are currently
available and selected one that is quantum resistant. And to be honest, off the top of my
head, I haven't done the research, so maybe one day I will just out of fun curiosity. I don't
even know which cryptography would make the most sense
to be quantum resistant off the top of my head.
Or how much work it would be to refactor the Cosmos SDK
to swap out EC-DSA for whatever this new cryptography might be.
I'm sure I'd be surprised if it was not a lot of work,
but maybe it's easier than I imagined.
Who knows?
But yeah, doing something like that
would offer no practical value to the community
or to the project.
It would put a feather in our cap, to use your words.
Yeah, and it was a fun idea to throw out
and just see if that's even being talked about now. But, you know, maybe that's something two years from now that happens. I mean, who knows? But thank you. a lot of the times when we hear about Google's Willow or Microsoft's
new phase
matter, whatever it's called,
new type of matter,
I'm blanking on the name right now, I used to know it.
This stuff is largely false.
It's like
bragging about, we think we broke
a new barrier,
we think we solved a new problem.
There are big improvements done in quantum computer world,
but they're still not really like a real thing.
There's just too much errors that happens in the quantum qubits.
So that makes them very unreliable.
And it's hard to tell how far we are from an actual practical, reliable, usable quantum computer.
There's a lot of news that talk about it, but
I haven't seen anything that gives me any kind of feelings that it's even around the corner,
let alone, you know, five years away. Wow. Well, actually, I feel much better about all my
encryption not being broken. I've taken up plenty of time and you guys have been super patient with
my thought experiments or whatever. Thank you so much. I love you guys. Keep super patient with my my thought experiments or whatever thank you so
much i love you guys keep up all the good work yeah thank you man love you right back buddy um
and thank you very much always good you you are you have uh you're a very good speaker and you have
good suggestions i love it um guys i think we're gonna approach the final countdown for any
questions i am not seeing any more questions and Kenton, myself and Chad,
and maybe somebody out there, we all get back to work.
So Kenton, do you have anything else you thought of you want to say?
Or if not, maybe we can wrap this up.
What about, yeah, give me a second here.
I'm going to do a quick refresh.
We got six followers on Tik TOK and seven followers on Facebook.
So right on, guys.
Thanks.
Let's bump those.
Keep going.
Yeah.
This is cheap.
Throw your ideas about Facebook and TikTok out the window, right?
This is borderline free marketing for us, right?
The more different channels we can get our content out there the better so you know there's no reason just silo it to
Twitter when for marginal effort and negligible cost we can get it into all
the channels so yeah and then then also to if you think bigger picture like yeah
crypto Twitter is you
know this is the main you know social platform for crypto but um you know we're expecting a
billion more people to get into crypto and they're not all on Twitter so um who cares where they come
from as long as they place a trade on Thor chain I don't care what you're into what you look like
where you live what social media you're into.
Just place your trade on ThorChain.
Maybe what we'll do actually to help bump the numbers, Kenton, is that we do platform-specific get-togethers.
Just to get people to come onto the channel or whatever, TikTok or Facebook, whatever, and just get more followers.
If you and I just start –
if we even just do the Riverside thing you were talking about earlier
and we just start broadcasting, streaming, whatever,
like on TikTok alone, we'll get those followers fairly easily, I would say.
Okay, yeah, good idea.
Interesting take.
Well, let's see how it goes.
I feel like Facebook, we should be able to get to 100.
A thousand on TikTok might be a bit harder.
It's not as hard.
On TikTok, I think I have.
And I barely even post.
I don't post almost at all.
I haven't done it in a long time.
But even I have.
You broke the space, Chad. How how many followers you got on tiktok i think i have and then he rubbed that was a very interesting timing more reason for us to stop
stop using spaces um disease rugs yeahugs um unacceptable you know yeah okay uh i got i got dropped somehow that's okay how many followers you have on tiktok there's
a huge hit cliffhanger uh 133 that's a very braggy number i know but i don't i don't i don't post
really so it's i don't know why people are following me if they are
um well hey Kenton um are you yeah I know we're gonna close the space but I'm marketing um I know there's so many things we're doing simultaneously it's hard to do everything but um uh maybe if we
do uh crypto conferences we can have QR codes relative to our social media and maybe we can
hand out free things if you you know follow our Facebook or Tik TOK or X or whatever,
you can get like a wristband or something like that. You know, I don't know,
something like that. Maybe we can, because there's, you know,
and then we have a specifically targeted crypto audience on, on these,
on these conferences that we attend. So I don't know, something may be there,
something like think about, I'm just formulating real time.
Yeah. Well, speaking of conference uh bitcoin conference reached out to
me uh because of linkedin so they because i was updating and cleaning everything up on linkedin
i guess i don't know started showing up in feeds and some guy from bitcoin conference reached out
to me uh about getting thwart chain there and um um and I set up, I have a call with him next week.
And I told him too, happy to talk.
The last time we were there,
last time we were invited to the conference,
Chad got verbally attacked on the panel
and it's not cool.
So we'll see, I'm gonna talk to him, bring it up.
But I do feel like that would be a decent conference for us to be at.
So, Chad, I don't know if you're interested in making a reappearance.
No, I'll do it.
I'll lick my scar and carry on.
All right.
But I do expect some kind of, like, I think that's pretty low budget.
Like, that's, you know, it's one thing for people to run their
mouths on on twitter but you know at a conference on stage you gotta mind your p's and q's that's
not that's not appropriate um yeah so um and i do this is something i've been talking with
in the marketing team like i think we need to stop saying native asset cross-chain infrastructure because no one talks like no one says that no one talks like that.
We need to start saying the biggest decentralized exchange for Bitcoin or the best Bitcoin decks or whatever.
You know, that's what you know, when you go to go to New City, you look up best breakfast restaurant, right?
Like when you're Googling, you want to look up new city you you look up best breakfast restaurant right like when you're
googling you want to look up the best bitcoin decks and um and we are you know we're the biggest
we are the best you know it's not lying and um and so if we kind of bring that message to the
bitcoin conference that like we are the best decks for big for bitcoin we're the biggest look at this
30 million dollar trade 20 million dollar trade like um you know we have something to talk about so i feel like that would be would be a good one for
for us to be at and um um you know it's that bitcoin crowd we kind of need to crack into
and not all of them are maxis right like you know yeah you know, so, um, so I'll tell you how the call goes next week.
I don't know if he's just trying to sell sponsorships or what, um,
or how much they are, but, uh, yeah,
now that I know you're cool with it, Chad, if, if, if they got,
if they're open to a free speaking slot or something like that, well,
maybe we'll do it. Um, but, um,
just kind of answer your question
about conferences more Patriot.
The way we've been looking at it is
that's more top of funnel.
So like we will kind of want everything else done.
We want the website redone.
We want the swap interface done.
And would be nice to start doing some PR,
like actual brand management, actual, uh, brand, uh,
management and reputation and repair, like, you know, basically what you, with public
relations is you're, you're going to, to journalists and asking, asking them to write
nice articles about you is the gist.
And, um, you gotta pay for that because there's always you know backdoor deals and whatever right
um but try and like get some more positive articles about door chain except you know
money laundering on bybit out there and so that when we go to a conference hopefully we've kind
of pasted over some of like the negative press and or if people haven't heard it
when they go to search looking online they go google door chain now they start seeing more
positive articles now they go to our site everything is done dialed in now they go to the
swap interface it works they can use it so um you know if you go to a conference today
and then then that person goes and does all these things now they find negative
articles the website isn't done swap interfaces none like it's just been like oh this is just you
know the person walks away is it you know loses interest so um we view the conferences as more
kind of towards the end of all this um but we absolutely want to do them we want to do side
events you know hopefully we get to the point where we can be one of the main sponsors we can the end of all this. But we absolutely want to do them. We want to do side events.
You know,
hopefully we get to the point where we can be one of the main sponsors.
We can have a corner booth.
It's huge,
you know,
with a nice carpet and chairs for people to sit on.
Right.
Like we're thinking,
I'm thinking big on this guys.
But it's,
it's baby steps to get there.
And each one builds on the one before.
So I'm trying. Now that's why I want to get these social handles one builds on the one before so um i'm trying now that's why i want to
get these social handles so this will help you know help us build to get there um especially
stuff doesn't cost us much money where it's just really just people's time our time you know putting
it together whereas like a conference like i wouldn't be surprised if they told me it's, you know, 25 or 50 grand to have a booth there.
Right. Like it's not, these things aren't cheap. So, um, um, does that answer your question,
Patriot? Oh, of course it does. And yeah. Um, yeah, let's get everything settled in first.
It's getting, we look professional. Um, but there's a lot there, man. Once we're all set
and square, I mean, you had a qr code
just a big old qr code above the thing that took you right to sto and then you can demonstrate with
screen share like on a tv like just doing a swap in real time and how easy it is like there is so
much there to be had um it's i mean you could do so many things there's so many things super cool
do you you that's literally what i sorry i misunderstood you earlier that's what i had vision too like um you know whoever is running the booth maybe they have
like a few hundred bucks to play with or a thousand and they they can show them right or maybe maybe
you do a memo list swap where it's like hey you have a you know your bitcoin and what's your
bitcoin address watch i'm going to swap swap Ethereum from my wallet into your address.
Right?
And they're going to see…
Give it away pre-Bitcoin.
Yeah.
Give them $10 or whatever.
Right?
Like, oh, shoot.
Is a minimum $100 for Bitcoin?
It is.
It is.
But we could use different assets.
Like, I mean, you go to a Litecoin conference.
Use Litecoin.
We go to BCH.
We could go…
Yeah.
I mean, there's so much we could do, right?
You're right.
And your mind is 100% right.
This is something that I feel pretty strongly about is I think we just need to show people how to use Thorechain.
Correct.
You could actually.
This is an interesting idea.
Instead of swapping to Bitcoin, swap to a secured asset Bitcoin.
Then the person needs to get like a Th Thor address in order to get that BDC.
And now you're getting people to like set up wallets.
Do you know what I mean?
There you go.
But you guys are on the right track.
Like when you're in person with someone, you can walk them through it.
them through it it's just another way to hook them and um even if we have like like it just even a tv
It's just another way to hook them.
screen with a video that just walks you know we do a screen share of like placing a swap um you
just have that on loop you know at the booth um but but totally uh like you guys are absolutely
right and um but again i think these are more at the end of our,
we got to get all these other things done first
and then we can focus more on stuff like that.
Absolutely.
But just think of what we could do,
especially with the Regera and App Layer.
I mean, you could just go one step out there.
Hey, you want to make a swap?
This is how you make a swap.
Hey, let's take out a loan.
Hey, let's do this.
Let's do that.
Like really, it's incredible we can do because all the primitives will be on sto as well right so um man
there is there's a diamond in here brother and once we get ready and we're prepped like we we
could really just show some phenomenal things to people in real time at these conferences it's
it's getting me more excited the more i think about it yeah i mean well thor chain is awesome right everyone should be using it is awesome
that's right it's the best bitcoin dax in the world the best ever nothing will ever compare
to thor chain that's right guys um i love these conversations this is so much fun um
all right guys do we have anything else or should we wrap it up here?
I think one last thing for me,
I just remembered I,
I have an appointment next week,
so I will not be able to make the space,
the Thor space next week.
You guys continue,
continue and party on,
I guess,
but I won't be able to,
won't be able to join.
Well,
if that's the case,
then maybe Kenton,
do you think,
cause you know,
we had a record setting swap. Maybe we'll make Thursday next week Trust Wallet Day or something.
I don't know.
Maybe we can slot them in to talk about it because it's a fresh thing that happens.
So we don't want to wait like two months before we talk about it and promote it.
Maybe they'd be super down to just going in and maybe we can get another dev or something.
I don't know.
Maybe we can work some out there.
Yeah, good idea.
Because they may not want to do a Saturday.
And you're right.
Our Saturdays, the next few ones are booked.
So maybe this works out well.
So I'll reach out.
I'll let them know and see.
Sounds good.
I'll definitely miss you, Chad.
But I'm excited.
A little two weeks.
I'll get some questions in the queue,
and so we'll bombard you in two weeks. That sounds okay.
That's fine. That's fine. All right, guys.
All right. Hey, guys, thank you so much. This has been a wonderful space.
Record-setting week. Let's see what happens tomorrow.
I don't even know what's going to happen.
I hope you guys don't know what's going to happen. It's incredible.
This Saturday, we're going to have Thor Wallet with Pedro.
And then the next Saturday, we're going to have Monero Sex with Nadine.
Just a little reminder, the TITN airdrop is live for Thor Wallet.
If you go to Thor Wallet right now on X, they just made an announcement.
I think it was five or six hours ago.
So definitely check that out.
That's really exciting for them.
Tune in on Saturday for that.
Gosh, thank you guys.
We're kicking ass. Love you all.
We'll see you next time.
All right, guys. Good chatting.
Thanks, guys.
Bye. Thank you.
Insights
Project L
ThorChain has officially launched as the first decentralized exchange (DEX) to facilitate real Bitcoin swaps, allowing users to utilize any Bitcoin wallet without needing to connect to a website.
But I'm going to go ahead and get this introduction out of the way you guys welcome one and all
four chain is the first dex to swap real bitcoin and now you can use every bitcoin wallet in the
world and you don't have to connect it to a website same with e xrp bnb tron doge and more
The introduction of the new app layer, Rujira, marks a significant expansion for ThorChain, enabling features like lending, perpetual contracts, and a token launchpad.
top of it.
The new app layer, Rujira, unlocks lending, perps, Bitcoin back, stablecoin, token, launchpad,
NFTs, prediction markets, and much more.
Token L
ThorChain's new token, TCY, is set to distribute 10% of the protocol's revenue to its holders, creating a new opportunity for investors and users alike.
Runtard is at Runtard, are you any tard on X.
ThorChain has another token called TCY.
This token is kind of like a preferred stock
P
ThorChain is positioning itself as a protocol for pure uncensored liquidity, reflecting a growing trend in the crypto space towards decentralized finance solutions.
You guys, ThorChain isn't just a DEX.
It's becoming the protocol of pure uncensored liquidity.
Swapping on ThorChain
Users can earn yield on their swaps through ThorChain's token, Rune, which is used to fund liquidity pools, highlighting the platform's innovative approach to incentivizing participation.
need to buy or hold Rune to place a swap on ThorChain but the fees deducted from your swap are
used to buy Rune and this Rune is the yield that goes to liquidity pools and nodes there are no
block rewards on ThorChain 100% of the yield is real
ThorChain is encouraging users to claim their TCY tokens after depositing crypto into Savers or taking out loans, effectively acting as a grant mechanism to boost user engagement.
into Savers or took out a loan on ThorChain, make sure to claim your TCY token so you can
start collecting this yield and anyone can buy the TCY token on ThorChain.org as well.
There's a ThorChain community discord and telegram. You can join, learn all about ThorChain,
The current pause on certain features of ThorChain, such as limit orders, due to a security bug indicates a temporary decline in operational capacity.
get me going so it's good um oh yeah i give I guess, a quick update on marketing in the front end.
So you guys know that some of the features on Doorchain are paused right now
because of the security bug, and one of those are limit orders.
Despite some operational setbacks, ThorChain's marketing efforts are gaining traction, as indicated by the acquisition of the ThorChain handle on LinkedIn, which will enhance brand visibility.
memelists. That's the front end.
From marketing, some good news.
Me being persistent, not taking no for an answer,
The recent record-breaking trades on ThorChain, including a $22 million transaction, signify a substantial growth in user confidence and platform usage.
Can you guys feel in your chest?
Do you feel the momentum? Do you feel the cadence? Do you just feel the wheels turning? You're just pushing towards Asgard like a hundred miles an hour. So unbelievably excited. This second week of the year, we have broken records twice. And within one week, twice of the entire blockchain industry. And Chad, this is where I want to begin because I don't want to really break this moment down really this is kind of a lot of your moment as the beginning
contributor of ThorChain right what ThorChain started I think it was what 2018 at a hot hack
The successful execution of large trades on ThorChain demonstrates a new level of maturity in the protocol, indicating significant growth in its operational capabilities.
the most bullish news
out of all of this.
It's not so much, like,
