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THORWallet - Updates & Alpha
Recorded: Jan. 17, 2026 Duration: 1:42:24Space Recording
Short Summary
Thor Wallet and ThorChain are making significant strides with the launch of new features and tokens, including the TITN token and the Rujira app layer, aimed at enhancing user engagement and expanding their decentralized finance offerings. The community is encouraged to participate in liquidity provision and take advantage of upcoming rewards and functionalities.
Full Transcription
Music what's going on everybody what is going on oh woohoo indeed my friend this space is about to
get started welcome everybody please share the space
we got some good friends coming in today we're going to be talking about thor wallet and arguably
we've had a little conversation a dm we may have on stage the most handsome mexican man
in crypto look at his profile picture look how handsome he is you guys i'm not mexican patriot
oh i'm so sorry buddy i apologize well forget it we got a white boy up here i don't know what
we're gonna do it is what it is i tried to find mexican representation for you guys but it's just
not possible i'm sorry everyone in crypto is white you you're talking about crypto xxz right
oh maybe i don't know you know i just who are you referring to well you're not mexican
no i'm talking about crypto buddy now i know you have awesome hair i don't have any hair on my head
so i'm i'm always a little um uncomfortable when i talk to you because i don't have that's always a
good attack vector i can make an argument about anything i i could say hey you should do this or you know i come up with a really good idea that
they'll say well you're bald shut up i'm like oh damn it they got a point what do you do you know
i mean i don't know how to get around that attack vector you know what i mean so uh you know you
know you get around it you own it and you make you like you love the fact that you're bald yes i try
that but then they just say i'm bald again and then I don't know where to go from there. You know, I've tried it. So anyway, guys, let's get this
introduction out of the way. I hope everyone's having a great Saturday. For those who don't
know, 4Chain is the biggest decentralized exchange for Bitcoin in the world. And now you can use
every Bitcoin wallet in the world and you don't have to connect it to a website. Same with Ethereum, XRP, BNB, Tron, Doge, and more.
Eventually, you'll be able to swap any token from any wallet.
Very cool.
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-backed, stablecoins, token launchpad, NFTs, prediction markets, and more.
ThorChain isn't just a DEX.
It is becoming the protocol of pure, uncensorable liquidity.
Swapping on ThorChain is permissionless.
There is no KYC.
Anyone in the world can use it.
To swap on ThorChain, I'm going to give you two options today.
You can either go to ThorChain.org, which is a desktop, and you can click on Swap.
New features and functionality will be added to the site over the next few months, or you can download Thor Wallet,
which is an app inside of your wallet. Really cool features and functionality as well. We love
our boys. To tell you more about ThorChain, ThorChain's token is called Rune, and 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 is the Rune that is the yield that goes to liquidity pools and nodes.
There are no block rewards on Thor Chain.
100% of the yield is real,
and Thor Chain is currently deflationary with 5% of the revenue burned.
Thor Wallet has a token too called TITN,
but we will be getting into that later, so hang on tight, guys.
If you hold Rune on a centralized exchange,
you should withdraw it into self-custody
because these tokens can be used to short sell Rune
and drive the price down on us.
And once in self-custody, guys,
please look into bonding your Rune to a node
to earn some yield and help secure the network,
which can help drive the Rune price up.
A great site to go to is runebond.com.
It is so easy, guys. All you have to do is find a node, request a wh site to go to is rune bond.com it is so easy guys all you have
to do is find a node request a whitelist and bond your rune you can also communicate to the node
operators anonymously as well shout out to the community we have many node operators like rune
tard slam bad and others they are looking for new node operators and they want to be a broker for
finding new node operators and bond buyers as well so if you want to become a node operator please reach out to me Kenton or any other people you know um
we will get you all the materials you need we will train you it's all free we just want to increase
the centralization of the network and of course if you're interested in bonding around you can
reach out to me as well if you want to reach out to rune tard on X, he is at runetard. That's at R-U-N-E, 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 tokens 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 and learn all about ThorChain and make lots of friends.
To find the links, go to at Thor Community.
That's at T-H-O-R Community account on X.
Guys, this space is aimed at anyone on your ThorChain journey.
Whether you're learning about it the first time or you are a hardened veteran,
we will cater to everyone.
All right,
guys,
let's get this show on the road.
My name is Denny.
My other account is Patriot sounds.
I also represent the Rune bond is count as well.
I hope everyone's having a great Saturday.
I'm really looking forward to this conversation.
It's really cool to see what Thor Walt has been building.
Those boys have been busy,
but I'm going to go ahead and kick it to Kenton real quick quick how you doing kenton i'm good thanks buddy um yeah my name
is kenton ralph toes uh i have a fund that invests in rune and runs nodes on thor chain so i'm a node
operator and bond provider and i'm also running the marketing team to promote ThorChain.
And yeah, I'm looking for the last piece on Thursday. We talked about we're going to start moving away from doing actual spaces on Twitter.
And we're going to move.
We're going to start doing videos through Riverside and live stream to Twitter and the other social media platforms.
And so to be honest, the biggest, probably our biggest,
we've been talking about this now for months and just kind of none of us
really had the bandwidth to pull it off.
And another hang up was like you are a listener that we want to make it like
nice thing with spaces is you guys can request
to come up to talk and ask questions or whatever, right?
We're trying to, our goal is to keep this as an open forum
and give everyone the chance to be heard.
So we're worried about going to a different platform
that it'd be harder for the listeners to ask questions
or get involved.
But it sounds like with Riverside, it's pretty easy.
There'll be a link.
You just go click.
You don't have to create an account.
You'll have to click on the link and go,
and you'll be able to join us on the stage.
And if you don't want your face doxed,
obviously you can get your camera off,
or you should be able to text us any questions you have.
Well, I'm actually looking forward to it.
I think we all are.
We should actually really up our game on these spaces
and be able to see our faces.
Video content is obviously much more engaging than just audio.
And no more rugging, right?
No more issues with X spaces.
We've all had to figure out setups that don't rug
and have probably been uncomfortable for each of us.
And then also, too, maybe we can get guests,
people that aren't on Twitter, right?
They don't have a Twitter profile.
So the idea here is to make the experience better for you,
the listener, and to start tapping into other social media channels.
So hopefully next week, maybe next Thursday,
will be our first test run.
I've got to get set up with Riverside.
I'm stuck on their free trial, which is frustrating
because I can't add enough all of our users.
So I have to get off our free trial.
So we got a call with them to do that next week. But yeah, so hopefully next space where we're
trying it out. And yeah, if we do bear with us, you know, it'll be our first time. We might have
some issues, but we'll get it dialed in. Yeah. And you know what? It's a little bit of a bummer
that we don't do it today because if we
have the most handsome mexican in existence on stage and that's eye candy we are depriving our
audience that is a problem um and i totally agree with you kenton 100 well maury he's gonna have to
come back then maury yeah yeah we've already got a good looking canadian um you know i'm ugly
american there's nothing to be done about that but you know i think we're gonna make do with what we got um and yeah that attitude you're right
patriot change your attitude and you'll be beautiful you're beautiful man i'm beautiful
all right i love it guys i feel i'm feeling quite special today crypto xz pedro what's going on
brother hey guys uh how's it going, GM?
Happy Saturday.
And, yeah, thanks for having me here.
And the great intro.
I like that I'm going to take that to any other space I take.
Yeah, and I'm going to make sure.
I don't want to be gay.
I'm not.
But if there's any girls out there, is that not the sexiest voice you've ever heard?
Would you like that voice of Sweet Talkie as well?
So you've got a lot going for you, my friend.
You're smart, you got good looking, got a good voice.
So my friend, you go ahead, the floor is yours.
Tell us about Thor Wallet, man.
Give us an introduction.
Yes, thanks.
So happy to be here.
Thanks to everyone listening
on this nice, lovely Saturday of 2026.
So yeah, happy to be here and talk about Thor Wallet.
For those that have not heard about Thor Wallet or are not familiar with Thor Wallet, Thor
Wallet is an OG project in TorChain.
Our focus has always been being the provider, the mobile provider for cross-chain swaps.
Since 2021, we have been building and have been growing an audience
and customer base since then.
We are heavily focused on making the user experience
as seamless as possible.
And our vision is to make it easy for users
to, through their mobile, swap any token to any token.
And we are slowly getting there,
but it's been,
it has taken a lot of effort,
but it's now almost a reality.
So if you have not used Thor Wallet,
go ahead into thorwallet.org.
You can download the app.
It's available in iOS and Android.
We have more than 175,000 downloads.
We have been steadily growing
and we have multiple things that puts us apart.
So as I said, firstly, we are mobile first, but we also have multi-seq integrated. We have a card.
We have gamification features and a bunch of other things. So we're expanding into earn functionality. You can also do, we have been working on improving the bonding functionality for wallet as well.
So basically kind of a one-stop shop for everything you want to do.
If you want to swap any asset that is supporting TorChain, then you can do it easily.
You can import your wallet.
You can create new wallets.
And more importantly, you can also spend your crypto
so have a look uh download and happy to discuss um everything that we have in plan there's uh
there's a lot of things going on we have a big big ambitions for this year and we i think we
have started with the strong foot yeah and And for those who don't know,
sorry, Kenton,
Thor wallet,
you guys have gone through a bit of an iteration, right?
Like your first version of Thor wallet,
when you tried to make it,
you know,
I think you would say that back in the day,
you know,
it was very early.
There was,
it was a little slow,
right?
It was a slow responsive,
but you guys made the difficult decision and the correct decision
to basically redo the entire guts of of Thor wallet right um but because of that in my opinion
there's a holdover on the reviews because your wallet's excellent I use it I do and um there's
a lot of stars on their review for Thor wallet that were from that period when they were just
learning the the thor wallet right
so if you guys could if you use the wall or try it out give them five stars because that rating
is not relevant to what they have now it's a completely different beast uh go ahead crypto
yeah thanks yeah actually that's uh pretty accurate so it um it's funny because we, you know, we stored all these images that we have, and this is now our third iteration. So it's the third new design we have had, and it has, you know, adjusted a lot. But if you see at some of the early designs we had, some of the first version, I mean, it's kind of funny, but also it's a weird proudness
because of where we come and how much we have improved since then. But yeah, that's part
of the growing pains of, yeah, literally just growing. So when we started, we have always
been quite aligned with the decentralized ethos of the community. And basically what we believe is like Torchchain enables freedom
because it's probably the only place or one of the few places
where you can trade with size fully decentralized across multiple chains.
And back in 2021, there was, CrossChange was just starting,
but it was really not even called cross-chain.
You know, we had like some EVMs like BSE and others, but it was not really fully what we
now know as different chains.
But we believed that that was going to be the case.
We were early on, we identified that was going to be the trend.
And in the first versions of Thor Wallet, also back then Torchain didn't
have so many chains integrated and so on, we would go and fetch data from the blockchain
on the go. So like also everything was done on the mobile phone. So, you know, if you
had Android that was a bit older version, that would take a bit more time because we would go, we would request five, six, seven different blockchains, get your balances, get the relevant info.
And at some point, I think when we cross like the five to 10,000 monthly active users, we started to see a lot of the struggles that you mentioned.
Like people are, they would compare us with other wallets and they would say,
oh, why is this wallet loading so fast?
And basically we just understood that.
And that's something that we can kind of carry on quite a lot in the sense that
people really ponder convenience massively.
And so we had to completely scrub what we had, we had to rebuild everything.
And basically we changed the app to be a more, let's say, modern app where we have our server,
the server makes a heavy lifting, and then the app is just kind of like a window to the world
and then loads fast,
but it's not the powerhouse.
And that changed everything because if you have a slower device,
then the processing power is not anymore a constraint. So that was something that we did, I would say now around a year and a half ago
or a bit more, but that was a big change.
And we have seen since then quite a lot more adoption.
But even though as we, you know, this is a continuous battle, so to say, because as you continue to add more chains, we recently added Zcash and others.
Like that, that just, that is just a constant process.
And I think it's a bit more cumbersome with Android,
just because Android has so many devices,
and many of those devices are five, six, or 10 years old.
So as you go ahead, some of the computations that are needed for privacy
get more intensive.
And it's just kind of a normal improvement process that we always take care of.
But yeah, that's true.
And besides that, I mean, we have worked a lot on several points.
So we see this a bit as a funnel.
So how do we bring users in?
That is the first thing.
And the second part is how do you retain those users?
And I think that extends to everything,
like even to Torchain or other applications.
We are at the end of the day, a business.
We need to make users and we want
those users that are recurring customers. So anything that brings us users, anything
that helps us to increase revenues, that has always been our two main KPI drivers. And
yeah, last year we had a very, very strong year. It was, fortunately every year we have been growing
in terms of revenue, in terms of users,
but particularly first half of the year,
we were increasing quite a lot in revenue.
So yeah, we're very excited on the trend so far.
We always see, you know,
as the market dips down a little bit or whatever, there's always these waves where people get a little bit less excited or, you know, some people even go into crazy mode.
Oh, everything is dead.
This will never exist or, you know, crypto is done for good.
And then a few months later or six months later, everyone is crazy again.
And so we kind of got used to ride those waves.
Yeah, good, good recounting there of the event. That's really awesome. It's been a journey
for all of us, I would say, interfaces and the main protocol itself. Kenton, I'll go
ahead and kick it to you since I think I interrupted you. Go ahead, buddy.
No, not at all. That was great. Thanks, guys.
Cryptoxy, welcome.
You mentioned make payments in crypto.
Is StoreWallet a point-of-sale app now?
Or how can you make payments in crypto?
Yeah, no, we're not a point-of-sale at the moment.
I know some of the guys in Mocha have been contacting us to
eventually go and explore that opportunity.
So one of the features that we recently introduced, so we are
a full banking suite. So for those that do not know, we are
based in Switzerland and we have a partner which is a fully regulated
Swiss bank.
And recently we introduced several features that allow us to be in a user experience point of view,
closer to an e-banking solution.
So most of the cars that have existed in the market, those cars are basically considered top-up cars,
and basically they're prepaid cards for most reality.
So basically the money that you put in the card can never get out of the card. But in our case,
the card is one of the features that we have, but the main product is basically a bank account. So
once you create your wallet on ThurWallet, then you can optionally decide to create a card.
The card requires you to pass KYC
because obviously MasterCard and Visa do not work
if you do not do KYC.
But once that process is done,
then basically you get a full bank account in Switzerland.
You get an IBAN number.
You can transfer from your bank.
You can do a Swiss transfer. And basically you can transfer from your bank, you can
do a Swiss transfer, and basically you can deposit fiat as well as crypto. So if you want to send
US dollars, if you want to send euro, or if you want to send Swiss francs, you can do that. That
has no cost, and then you can start spending on the card. Or you can top up with USDC the card.
And then that, depending on what type of card you have, then it has a certain
cost, which ranges from like 1% and it goes lower depending on the card that you have.
But what I was saying is that now we added additional features to the banking suite.
So for example, if you have other people that are TorW Wallet users and you know that they're also card users, now you can simply transfer money and you say, well, that's already possible in USDC.
Yes, but now you can transfer very easily from Thor Wallet to Thor Wallet and they will receive the money from bank to bank.
So basically it looks like a normal transaction, but it's not only to their wallet, you can send it to another bank. And that might be useful because that guy has his own bank connected
and then he says, oh, well, I need whatever, $500, can you send me? And then you do it,
it gets transferred instantly. And then because he's connected to his own bank, wherever he
is, let's say Germany, then he can do an IVAN transfer to his own bank
and pay, I don't know, his electricity or whatever.
Within Switzerland, and that is expanding as well to other European countries, most of
the bills that you receive here have a QR code.
So basically, you could pay your rent, your electricity, and basically any other bill
with Thor Wallet.
So you could leave, you know, top up your card and pay everything now with the Thor Wallet banking solution.
And not only that, now you can also make payments to other banks.
So I could say, oh, I want to send to this other bank account that I have.
And that is slowly expanding the number of banks that are available
and before it was only
to your own bank that is going to be like
your own bank in the sense
I have another account in
Deutsche Bank or whatever,
but not to another
third-party account.
But that is being
expanded as well. So a lot of
these features
have been recently released.
I think we released it end of November.
And that has been exciting.
We've seen quite some nice adoption on the card.
But recently, we also announced a few weeks ago,
what we want to do is expand into the U.S. market.
So that is where the majority of our
users are. And so far, the card was not available. The other thing is the card was a virtual only
card. And I'm a bit surprised at that, but we have a lot of user requests that they want to have a
physical card. And I don't think people really use it that much, but it just feels nice to have it.
I don't know, like they feel they have it, they can show it. It's kind of a nice bragging thing.
Oh, I have a crypto card, which is physical. So we announced that we are launching a new card.
It's with a different banking partner, and that will allow us to completely revamp the experience
from a card perspective.
So we will have a physical card.
We will also have a free virtual card,
and we will be able to also add very cool things like cashback,
and we will also be able to do a lot more of the things
that you have seen with other card programs,
like you can access airports or things like that.
The specific details, we're still kind of in the adjusting what do we want to offer.
But it's going to be very interesting because, well, it will be neatly integrated into the ecosystem and is going to continue being non-custodial.
Wow, great.
So then is it fair to say that you're now a neobank, like in the back end?
Well, that has been one of our competitive things that we have been aiming towards.
I think for the most part, yes.
But we are still, you know, have ambitions to offer a lot more.
So once the live, the U.S. card is live,
we will be offering a lot more things that will be exciting.
And I think that will put us now kind of,
if we are already a new bank, that will be like Neobank Plus.
So like we will have the card, they will be able, like you will be able to do anything that you do with your normal bank.
So you will be able to go to an ATM, withdraw cash, you will be able to spend with the card, you will be able to get rewards,
you will be able to, you know, get the perks of MasterCard.
So depending on the type of card that you have,
you will be able to also get multiple cards on the same,
like these virtual cards.
So you're going to have a virtual card to just,
for security, you only use this to buy, I don't know,
plane tickets and things like that.
All of that will be available on the app.
And we already are starting to, you know, to accept people for that.
So we have a website called whitelist.org
where people can go on and request to whitelist.
So basically they join our newsletter,
but we're kind of keeping track of that to get them early access.
And we're making great progress on that.
So that's going to be super interesting.
And last thing I want to point on that is that we might even consider
have like, we're still seeing if we have like one premium card or another
super premium card that gives you a lot more.
But we will see that depending on the user requests and what do they want.
Because from what we've seen on the card so far is that we have several thousand users
now on the card that they have created it.
Some of them are way more active and some are less.
But basically you have two types of users.
So you have like the small, you know, less than 500, 1000 max users.
And then you have the giga wheels.
So you have like five or 10 that are like spending max.
So yeah, we're excited to see how that turns once we go into the physical world.
And, yeah, we also are open to hear from the community and from the users.
What do they think they would like to see in the car program?
What is it missing?
And we will try to incorporate that.
I do have a question, actually, about that.
I have a couple of questions actually.
So someone would like to know, just to clarify,
will there be a physical card for like someone who wants to go to the
Philippines where they really don't, you know what I mean?
They still take this card. Like, could you answer that?
Yes. Yes. There will be a physical card.
So that is launching this year.
We do not have an exact ETA,
but we are aiming to be as fast as possible,
hopefully Q2. But there's going to be a physical Thor Wallet card, yes, 100%.
And can the virtual card, can it be added to Google Pay or Apple Pay?
Yes. So right now, with the card that we have at the moment, that card is already available for Google Pay and Apple Pay.
With the new card as well, the one that is going to be virtual and physical,
that is going to be also available for Google Pay and Apple Pay.
So no matter how you want to use it, if you want to have the plastic,
if you want to just the virtual, or if you want to have everything
in your virtual, physical, and Apple Pay, all of that was going to be available.
Another question I have, let me see, one second, sorry guys. So the question is,
will, if you make a payment, you buy, sell something with the thing will those get reported to um the irs or or a european
equivalent of an irs internal revenue thing yeah so we get this question frequently but i think it's
difficult to answer in the sense that this is because as i said this is not a card like this
the the entire card is a bank account, right?
So the one that we offer at the moment,
and both are going to be Switzerland regulated.
So basically it's like you have another bank.
Let's say you have UBS here and you created an account at UBS
and then you just use that to spend and so on.
I don't think that UBS actively reports every transaction that you do,
but if there is a legal complaint request from a government agency,
I want to get this person's bank account from UBS,
they will have to go through the legal process
and if they get the proper documentation and the court order, etc., they will provide that
information.
So I think the best mental model to go through is just, this is just another bank in that
aspect.
So if you just treat it as such.
So I don't think there's going to be any, like, they have basically leaked as any other account that you have.
For me, what's exciting about all this is, like, the only thing holding you back from going gangbusters is regulation.
Like, the technology is all there, right?
If you guys wanted to be like, you know, bank and all that kind of stuff, handle fiat, the technology, you can do it.
You can implement it.
It's just, there's so much red tape, regulation, licenses, lawyer fees, all that crap.
Right?
Am I right?
Like, is it, is it hard?
What's been the hard part for you? Has it been
on the technology side or has it been on the lawyer, legal, regulatory side?
Yeah. So I think it's a bit of both. So, because like, you know, when, when we have
jumped into this, like the thing you wanted, we wanted to avoid is that we hold the license
because that, that is a problem. is a problem. So that's why we
have been working with banking partners. So I think banking partners that are or have been
diving into crypto so far before Trump, I think they were a bit stuck in the middle. So they were
not a bank, they were not a fintech, so they're kind of in between.
And that made them to kind of comply with the hurdles of a bank, right?
Like you might have, I don't know, 10 million in your service, but then they wanted you to comply with like the lowest banking regulation, which was $100 million, for example. So I think that has been, that's why a lot of these services are starting to go now, because they went through the approval process.
Also, I think specifically the payment gateways, like Visa, MasterCard, they were extremely
uncomfortable with crypto until the recent administration change. So you were very likely to get a certain program with the card closed.
So from our perspective, I think it's been a bit of both.
So now that with the first card that is now live,
I think we have been probably around a year and a half or two years live with that.
But also with the first card, the Swiss-based one, everything was done on the blockchain. So
to get the card you need today on NFT and all the, let's say, accounting was done on the blockchain.
That is nice and reduces a lot of the operational work for the bank,
but also introduces another element of friction to the user.
So, for example, as I said, you can top up the card with fiat, right?
You can send $1,000.
But if you want to send USDC, you might say, well, this is obvious, but it is not as obvious as you might think.
People want to top up the car, but they do not have Ethereum to pay for gas and things like that, which for a newbie or from someone who comes from Revolut or other similar services,
services, then it's kind of a steep learning curve that, okay, if I want to use only crypto,
I need to have gas and or, you know, things in that area.
So I think it's partly regulatory has been difficult, but also the user experience.
And that's something that we took as well.
And the other part as well is the KYC. The KYC is a killer.
And the more that you can improve the process,
the easiest, the shortest you can make it, the better.
But from a user perspective, obviously, you want no KYC,
which is not possible.
So how do you make it as simple as possible
while still being compliant?
And we have been trying to work on that and
reduce the number of steps so that, you know, it feels like, you
know, three, four things and then you're done.
And I think that's the main struggle because some things you
do not have control, right?
Like for example, so far, and that's something we're changing
with the introduction of the new car, but with the current car, you could only get the car with the passport.
And while that seems like a decent request, there are so many people that do not have a passport.
And they say, oh, can I do it with my driver's license?
Can I do it with my national ID?
And the answer so far was no.
And yeah, we're working on getting that hurdle also
over the board. But that also implies like, you know, if you have a passport, especially like
those that are modern passports, they are biometric passports. So these are the passports that the
government is the most happy about because then they know it's a real person. And, you know, now with AI, you can fake the ID.
So it gets very cumbersome and it has a lot of layers on,
I would say, nonsense bureaucracy,
but at the end you have to comply with that.
Like the banks, if you put your passport, they're happy
because they can just, you know, show it to the compliance officer
and say, hey, hey, we're sure this guy exists.
And then if you go into another type of thing like driver's license,
you need to introduce video verification.
So it's kind of a trade-off.
It's definitely a trade-off.
And the key point here is to find the sweet spot.
But what I can say is in the new card,
we're definitely going to
be shortening the onboarding process. And we're also going to be removing a lot of the friction
that was linked to having crypto. So we want to be that you can talk about with crypto,
but we want to make it also to try to be find a way to sponsor gas and things like that.
I got a question. When it comes to banking, buying things, that i got a question um you know when it comes to
banking buying things right i go to let's say i go to kenton shop i'm buying some silver from kenton
right i buy a couple ounces of silver right with a regular card um they don't know how much i have
my bank account i could have 13 million dollars in my bank account i could have 13 bucks in my
bank it doesn't matter right so will it be allowed? Will it be possible? Because I hear you support Zcash.
Will you be able to pay your bills
with like shielded Zcash at some point in Thor Wallet?
That's a good question.
I mean, I don't think we have the answer right now,
but what we are working on is to bring...
So Zcash is already available in Thor Wallet for those that want to try it out, both on Seed Wallets and Multisig and so on.
But what we're working now is to also bring the shielded version of that so that you can do swaps from shielded or from non-shielded shield those funds.
from shielded or from non-shielded shield those funds.
But I think at the end of the day,
you will still have to do some process where, for example,
what is most likely not going to happen
is that I have shielded C-cash
and then I'm going to be able to top with that.
Because, you know, as I said,
there's always a regulatory framework
that needs to be compliant.
So that's why with the card we have only worked with USDC.
With the new card, we might expand that to other stablecoins, but at least USDC as well will continue.
Maybe Tether and those are still details to be figured out.
But the reason I'm saying that is because if you work with USDC,
then the regulatory bodies are also happy because they know that they are able to freeze if you do
some maleficence and so on. So if you tap up with some funds and then you want to spend it and then you might, you know, someone will come and
say, okay, we freeze this again with the proper judicial process and so on.
But I think that's why you're seeing that USDC and a few other stablecoins are being
getting quite the adoption in other banking services.
They just announced that they're going to allow it in interbrokers or one of the big US platforms
for trading.
And it's exactly the same rationale for that.
So in short, I'm not sure, but in any case, what will be possible is that you have your
SEC and you will be able to most likely swap from
shielded CCASH into USDC and then top up with those funds. But at the end, if you're badly
scamming and so on, I mean, it's not going to be a free-for-all scam market and so on. You're
going to get your things frozen.
I mean, that's just how it is because you deal with Mastercard,
you deal with the proper banking system,
which is, I guess, the best that we can do.
Otherwise, you just live fully on crypto.
Yeah, it makes sense.
I'm going to kick it to Kentonon i do have another topic but i don't
want to change the discussion of kenton has something more he wants to add or talk um
oh it's gonna be just i don't know we can change it if you want but i was kind of curious like the
whole you mentioned kyc uh and like i mean we all get it you know and you know you mentioned um
you know people that don't have passports and you know
their ideas and accepts all kind of stuff like this was the whole promise of crypto like this was
especially 10 years ago it was like you know the unbanked right i haven't heard people talk about
the unbanked in a long time and this for me this is like kind of what gets my blood going and getting gets me excited is you know uh crypto has
that promise of serving the six billion underbanked unbanked people in the world and um i'm curious in
your thoughts with like you're not alone you know you're doing stuff to get these debit cards you
have to you know it's a necessary evil to do the kyc there's all kinds of other platforms doing the same thing do you see this as like we're still moving you're we're still moving in the right
direction like um it's like a halfway step to serving the unbanked or or is it like crypto is
kind of like doing a bit of a u-turn and now it's going back into this whole kyc world and you
know we're you know we're going to be kind of stuck unfortunately in the you know kyc system
um i'm curious how you where you see this going and how pedro you you're um just so you know you
you are double um you have feedback when someone else is speaking. Okay, I'm going to meet myself.
Yeah, okay.
I think that's an interesting question.
I see it in two ways.
One, as you said, like a step in the middle
to achieve the promise of what crypto is supposed to be.
But at the same time,
I think two things can be But at the same time, I think two things
can be true at the same time.
So if you want to be fully crypto native,
if you want to be like, this is what crypto was built for,
this is what crypto is supposed to solve.
I think that what we have for right now in Thor Wallet
allows you to do that.
But it also requires from the user a lot of effort in the sense you could live with
Thor Wallet and pay only in crypto, receive only in crypto. But that's not how most of the people
live, you know, in the sense, imagine that, you know, you pay, you have your company, right?
And I would imagine that most of the people that you employ, you pay them
bank transfer or whatever. And that's the nature of the work today where most people get paid in
fiat. But if you're a person that says, okay, I'm done with the banking system, I think you can right
now say, I will only accept payments in crypto for my company, right?
And then any provider that you want to work with,
a main requirement is that they also take crypto as payment.
So I think that's one of the things that, for example, guys like Joel has said
from the Dash guys, and he has lived in crypto, only with crypto for a couple of years now.
But it does require a lot of friction from the user.
Like, I only find users, the services that accept crypto.
I only work with people that pay me with crypto and things like that.
I think that is a smaller niche, but it's definitely worth keep pushing forward with that. And that's why we are
building more features where you can transfer the privacy features, etc. But I think we also have
these other people who have never touched crypto. So like the crypto newbies, people that come from
Revolut and people who really have been exposed to crypto, but it's kind of fake crypto. You know,
yeah, I have my crypto in this account, but I cannot withdraw it.
I can only see, I mean, that's good as nothing.
So I think that is a bit of a step in the right direction.
But especially if you're a company, that's something we also realize.
Like if you might be able to say your employees, okay, we're going to pay from now on
crypto. But many companies do not accept you to pay them in crypto. Try paying AWS with crypto
or try paying certain services. We are in a place where you still need a debit card or a credit card
that allows you to access a lot of different services. And I think that this other area for wallet,
which we see it as a kind of wall garden area
because that's the area that requires KYC.
Not everyone wants to do that and it's not mandatory.
But if you want to do that,
and if you're a person that has needs
that can be solved by offering a better solution, but levered by crypto,
then that's what we're trying to do. So like bring the people from the centralized exchanges,
bring the people from Revolut, bring those into closer to holding their own keys, self-custody.
And the cool thing about that is that, for example,
on our wallet, the card is not where,
like, it's a separate, as I say, it's a top-up type of thing.
So, like, it's a separate entity.
So you can have your funds, as Peritra was saying,
nobody knows in my own wallet I have whatever amount,
I have whatever amount, but I just stop as I need.
but I just top as I need.
And I think that's a nice way to kind of still navigate the necessities of the world
where I might need to pay certain things with my debit card,
but I still kind of take advantage and benefit from the upside of crypto.
So I think that's where we stand.
But obviously, we would like to have more and more services
that make the native core crypto go into the right direction.
But our feedback from users is like the biggest hurdles
are always when you don't have crypto
and you try to onboard into a wallet,
or when you have crypto and you want to spend it.
I think those are still big things that need to be solved,
and we're trying to address those with our green of salt,
but there's still a lot of pain on those two fronts.
Yeah, I agree with you. Oh, no problem buddy i have actually another question here um someone well i have a follow-up to that i
want to go ahead yeah um yeah i agree with you crypto uh see like it's i think we are still going
in the right direction and um um it is a little bit of the necessary evil.
And it is the on and off ramp is definitely the stickiest part.
I think it's definitely much easier to like if you're to live all in crypto now, you can do that quite easily.
Like in Cayman, like I know guys here that do it.
And, you know, they basically this they just need those
debit cards credit cards they can charge us table coins and they're they're pretty good um
so uh until i was gonna add some oh just yeah just a quick shout out to anybody if you um
i just signed up with dakota bank with the with the Berserk marketing entity and got approved very quickly.
Already departed, deposited some money already converted to fiat.
Um, fees are extremely good.
So if anybody out there has a, they only do businesses entities.
Um, but they're, um, uh, onboarding is great.
And, uh, but it is a neobank, but it's something i'm seeing with with these neobanks
and regular banks like they're getting better and their their processes are getting ironed out and
i think that'll go a long way for for adoption in general um i was actually thinking with dakota
bank i'm actually just wrote it made a note for myself. Now that I got going with them, I'm actually going to pitch
them on integrating ThorChain.
Why can't
these neobanks also
have ThorChain in the back end? They can
have a Bitcoin account, Ethereum account, and all these
other crypto accounts
and they just tie into ThorChain.
That's a big plan, a big vision
is we get torching everywhere
um but yeah i'll stop let you go patriot what a good idea man oh go ahead
no i was just gonna say yes 100 i mean um i mean that's that's how i see eventually uh evolution
where well a lot of bills to be will happen on Torchains, you know, like where people say, well, why do I need to use a third party?
I can just do the transaction myself.
And I think that's going to be eventually how things work because most crypto banks
right now, because like what we have discussed, the regulatory pains and so on, they ask for
a lot of, you know, very high fees, especially if you're a business.
And a lot of the improvements have been done on the commercial and B2C side,
whereas on the B2B, there's still a long way to go.
And I think that also has to do with the risk involved, right?
Like if you have an individual, most of the time the risk is pretty controlled
to lower amounts.
But on a business, it goes much bigger.
But the fees that some of the banks here charge
for crypto and not even like just having the account,
nothing else, they are ridiculous.
And I think that is going to be disrupted soon.
There you go. I do have a question specific
to thorwallet here for you buddy um so someone likes to know they live in europe they have a
residency in a certain country but they don't they're not going to go there anytime soon at all
you know they've got the passport the whole thing when they go to make an account they're geo locked
out um because they are not physically in the country of their residency
is there a workaround there is that by design intention could you speak about that yeah so
that is that should work but they need to like and i imagine that is uh they they have tried to
to create an account with the current system uh i mean, the other one is not live yet, but it is possible because so what we want to
know or the regulatory body wants to know is that we want to get your proof of address.
So normally this proof of address was get a utility bill, take a photo, we match it and so on.
utility bill, take a photo, we match it and so on. A way to kind of simplify that is we
just say, okay, I take your GPS position and then take us proof that. But basically, people
need to understand what we're replacing is the proof of address. So it doesn't matter
if, for example, I am from Mexico and I want to open the account in Switzerland or wherever he is.
He is from, I don't know, Colombia and he wants to open in Germany.
That will work, but he needs to put his location to match the real location where he is.
So even if his passport is in Colombia or whatever, he needs to say, OK, I'm in Germany. And then the geolocation will accept,
and he needs to match to where his residence
in the application process.
So if I say my house is, I don't know, street 123,
he needs to be physically or with the phone
at street 123.
Because when we do this process,
basically what we do is we go and say,
okay, what's the geolocation at this point?
And if the address with a couple of degrees of error
does not match to street one to three,
then this cannot be taken as a valid proof of address.
So this is what he's referring to.
And it doesn't need to be that your address
needs to match to your nationality.
You can be an expat living in somewhere else.
But the problem that we mostly face is first, he needs to have his passport.
If his passport is not biometric right now, there's no workaround.
We will introduce one soon, but right now it's not available.
And the other thing is he needs to be like his location
is to match where the other is that he puts is living okay there you go um i think that was
pretty uh good answer there thank you um well so we have a lot of people they're going to listen
to this you know live and of course have the recording um there is a airdrop that's going on right now
on thor wallet so you know people are listening they're going to excited hey for all it seems
really cool they got this banking license that's really hard to get you know i want to participate
in this i want to earn maybe some revenue from this um you have a token titn i believe that's
titanium if i'm not mistaken right um maybe tell us about your token. How does it work?
Yeah, floor is yours.
Yes, so that's the other big thing
we have been working recently.
What I just announced this week, we went live.
So for those that do not know, as you said,
we have our own token called Titan.
And it was launched a few months back.
We are live in several platforms that you can buy and sell directly on Thor Wallet.
But we're also available in Coinbase in the US, Binance Alpha, Aerodrome, Gate, MXC, and several other venues where you can buy Titan.
And basically the idea with Titan is kind of our ultimate or the last iteration of what we have been working in terms of tokenomics.
So we have already been in the market for several years and we had the previous token that we now migrated to Titan for multiple reasons. One of them was the facility to move from one chain to another, but the other thing
is to provide more functionality.
And throughout this journey, we kind of tried different tokenomics.
So we try giving yield on our own token, we try buy back and burn and other
things. And this is, you know, what we believe is the most comprehensive solution. And that's what
we call feedback return. So basically, when our business model is quite simple. So if people come
to Third Wallet, they download it, it's free. They can hold any assets they want.
But if they want to swap or use some of the other services that we have, we take a commission.
The fee for that commission can be lower depending on the amount of Titan that they hold.
And also, if those commissions come from purely decentralized sources like Torch and Maya and a few others,
then we share part of that fee back to Stakers.
And the reason for that is because this is fully decentralized.
That fee is paid by the network to the Stakers,
so it never comes to our books.
It's not that we distribute, it's the network.
And we just have a system to allocate who gets how much.
But basically for the user in simple terms,
if you hold Titan, you get rebates on the fees
that you pay on their wallet.
And you also get a fee return in USDC.
So if you have a larger amount compared to the pool,
then you get more rewards.
And that has been going now for a while.
I think that is pretty successful in the sense that you do not have inflation.
So every reward that comes is real economic activity in the app.
And it also makes it easier for people to understand what's the value of the token.
Like if your user base is growing, if our average swap per user is also growing,
then basically the token is growing more value.
So we add more chains, more possibilities to get income,
and that's how the token gets valued.
At the end, of course, everyone needs to make their own research
and decide if this goes for them or not.
But we are quite excited about that.
And we introduced the airdrop.
And the airdrop is a way to incentivize users
and to start giving some rewards to the active users in the community.
However, airdrop has been kind of a challenge for the last few
years because, you know, people are farming them, then people either want them to get them for no
effort or they have been misallocated because some people have managed to get a lot of their,
you know, there's so many, it's quite difficult to build an airdrop campaign
now, nowadays. So what we have decided is we're going to be sharing 5 million titan
and among 300 users. And the dynamics for this is we ask them to LP because then they help the network, they help one of our close partners, and they also help the Titan community to have deeper liquidity for people who want to buy and sell.
So they need to LP at a minimum of $1,000, so $500 Titan, $500 USDC.
500 titan, 500 USDC.
And then on top of that, then there's rewards for like if you're a swapper or if you have
perpetuals or if you have titan stake, then you're starting getting some extra bonuses.
But it is also competitive in the sense that we are going to do this for I think around
80, 90 days, something like that.
And basically every day
we take a snapshot of your LP position and that helps you to rank where do you stand
and those 300 basically get the rewards. And if you are, let's say the fortunate 300 one,
then the next day you want to come in and swap more or LP more or whatever to be in the top 300.
But also we put some limitations.
So for example, the max LP that we will consider for the numbers is going to be 20,000.
So let's say the way to max out your reward will be I put 20,000 LP from day one and I
just leave it there for all the time.
And then you can look into the other bonuses and so on.
But, you know, right now I think we also have collaborated with some cool platform called
Xscanner.
Now they put a dashboard.
People can see that in the dashboard or they can see it in throw wallet itself. But right now I think people are helping anywhere between
you know, 3k, 6k, some 10k, but like most people are on the 2k to 3k and then they're trying to gain
points by swapping or by staking or by other means. And it is a bit more fun because, you know, first you cannot have a big whale coming
on, you know, suck up all the rewards, which is one of the number one things we wanted
to avoid.
And the other thing is because it's over a long period of time, then you need to kind
of be engaged, putting the LP for a while, not just, oh, I come in the last five days and I scoop in everything.
So that is the LP. It is now in the third four days, so there's still a lot of room to jump in
and start earning some rewards. And the cool thing about that is that those people that earn the airdrop, of course, they can do whatever
they want with that, but ideally, they would then stake it and then participate in the
free reward scheme that we have.
Yeah, makes sense.
Before this, just to make things super clear, people, there was a token TGT that is the older token and people had to transfer, convert their TGT into Titan TITN, right?
Just to throw the record, is there any reason whatsoever to buy TGT to transfer or should people avoid that asset?
So I think the time to do that is gone because of how we did the merge.
It is a smart contract audited by Code Arena and so on, but we had a 12-month period.
So basically, there's a linear decline from the date that we started till today.
So every block, then the amount of the ratio becomes smaller. So I think
now when we did the merge, maybe it's like six, seven, eight months ago. So now you will get half
of what you have gotten if you would do it at that particular time. So I think most people have already done it.
I mean, we have some statistics that I think around 90% merged.
So it was pretty successful.
And there's also almost little to no liquidity.
So I would put it in different terms.
If you have TGT for whatever reason you forgot,
now you're listening to these spaces and you say, oh, gosh, I have it somewhere.
Now you should definitely go and merge it because the old one is now basically, you know, has no value.
But going and buying new and trying to merge, I think it's much better to just buy Titan directly
because you're going to get a haircut by merging.
Got it. Okay, just wanted to clarify that.
Kenton, go ahead. I think you were trying to say something earlier.
No, actually, those are both my questions.
So the TGT token, that was on Ethereum and the TITN token, is that on base?
Is that right?
So the TGT token initially was launched in Ethereum.
Then, because the CART program is on Arbitrum and so on, we made the bridge from TGT.
So basically, TGT existed both in Ethereum and Arbitrum.
And when you merged it, the merge was done on Arbitrum.
TGT now is powered by Layer 0 and is mainly a token in base.
But one of the reasons why we use Layer 0 is because it makes it easier for you to move Titan into any of the other EVMs.
So right now, Titan is available both on Arbitrum and BASE, but because this merge process
is still ongoing, you can only interact with it through BASE. Later on, we will enable other
chains and so on. So the people that had Titan on Arbitrum were those people that did the merge
process. So you cannot go and getan on anywhere else that is not based
great thanks uh peter do you want to jump in yeah so um okay it sounds like you guys have a full
suite right the things you're building you've got the neo banking license right you've got you're
going to be able to make payments um with the cryptos. You're going to have a physical card going.
I think we've been pretty comprehensive in anything like,
and also, by the way, you said it in the very beginning of space,
but I don't know if that part got recorded
because sometimes we don't do the very intro,
but I want to be clear, guys.
Thor wallet also has the ability like multisig has
where you can have multiple vaults and sign transactions that way. so um a very very safe wallet really really cool i think you guys are brilliant for adding
that technology i mean you guys are just always thinking ahead right like you're not planning for
today you're planning for tomorrow i think that's quite clear from your team so um maybe do you have
anything that's what's let's talk about tomorrow what what are things that you guys are aspiring
to do anything that you may not have mentioned already?
Go ahead, sir.
The floor is yours.
Yeah, so there's many more things that we are looking to add.
So one of the things that we are working on is to expand the EARN functionality.
So that is right now not as comprehensive as we would like to do that, but we will have integration of Aave
and other of the top, you know, DeFi protocols so that people can, if they want to, if they want to
yield, then that possibility is going to be introduced soon. The same thing for other staking
protocols. So like, you know, we support all the top chains, but right now
we do not support, for example, Solana staking or Eat staking.
Those are things that a lot of, we think about users in different cohorts, and I think the
majority of our users are more the DGN type of users, but you also have the other users
which are, they want to come to their wallet,
they want to have a safe wallet,
and they want to park their money, earn some yield,
and do not do anything crazy.
So I think that type of user has requested other fixtures
related to real-world assets,
related to liquid staking and so on,
but not very complicated, super risky vaults, but the
playmanila, I want the heat staking, I want Solana staking and so on. Those things are
coming as well soon. That's something that we are working towards. And besides that,
besides that, we are also, you know, always thinking about what other chains.
One thing that is also in the backlog that we had some technical challenges to do that,
but now we are going to be working on that this year as well,
is introducing the multi-seq for Android.
And we also have a big update coming in the few, maybe in a few weeks or, you know, one to two months max,
where we're going to be upgrading our core React libraries, which will mean that the app is going to be much faster for the majority of the users,
which will be particularly noticeable for Android devices.
So that is also a big, you know, more on the cleanup side,
but it's gonna be those small changes
that help the user become, you know,
just friendly, more user-friendly interface
and speed and reaction times.
So those are things that we have in the near term.
And besides that,
I think that pretty much covers
the big topics that we have.
And we might look into
other swapping
routes as well.
But right now, I mean we we're focusing heavily on on bringing the card life okay um a question for you um you guys have zcash added um are
you guys going to add monero support um that's something that we do not know yet um
that we do not know yet.
You haven't heard of Monero?
No, no, no. We have heard about Monero.
I'm joking. I'm joking.
No, like actually, so funny story, like I think like, what is that?
Like two years ago or something, we were in contact with the guys from Sarai
Dex because when Sarai was happening, I mean, even way before Torchon
wanted to implement it, right? And there was even, I think you want like a full PR blown,
ready to go. Then I think there was some security concerns from Monero and then it never happened.
But then Sarai came into the space and we actually contact them super early on.
Because one of the things we have done is that we are cross-chain native maximalists, right?
Like we want the user to be able to swap at any time. And if certain routes are not supported,
we still want to find a way to bring that.
So we contacted them and we said,
hey, how can we participate?
Can we be an operator, et cetera?
But since then, we just kind of had that big part.
And the other thing related to Monero as well
is that for a very long period,
I mean, I think this just changed this year, to be honest.
Well, the year that just passed.
But for the majority of the last, I would say, three to four years,
anything that was related to privacy would put you in a very hot spot.
And while, you know, I think that privacy is, you know,
a fundamental freedom.
It also was a very big, it would just put you at a different risk level when you were doing things related to privacy, especially with Monero.
I mean, we saw that most centralized exchanges cut down Monero and that was for a reason, right?
Like governments do not like that and they would ask questions and you just kind of become the ugly dog. So I think that sentiment has changed, especially now with Ccash going up last year and becoming way more mainstream. I think that is changing. I do not know if we're going to add Monero or not.
I mean, it would be great from a cyberpunk perspective, but it also has a lot of, you
know, second order consequences. And then they may be as simple as, you know, some of
their partners starts to say, okay, do we want to continue working or not or or uh you know there's so many
so many things that that spawn from that i get it but if if there's a way eventually to have like a
full dex uh torching style or seridex that would be something we we would look into eventually
because that was our intention back then but um nothing has crystallized in that front.
I understand.
Yeah, no worries.
It's just an interesting question.
So I do have a question from the Thor Wallet community here in Telegram, and they want to
know, is the 70% USDC staking rewards, is that currently live implemented?
Yeah, so that was one of the benefits that we had from moving TGT holders to Titan.
And not everything has been done.
So there's a couple of things that need to be, we have been working on that.
And we are, you know, it's one of our priorities also internally. But there's a
couple of other things that are going on at the same time that have dependencies. So for example,
those that merged their TGT to Titan know that there is a transfer block for a few months that
is going to be lifted in March.
So in March now, everyone who merged are going to be able to transfer, sell, or do whatever
they want with their Titan.
So there's a couple of things that need to be done first.
But yeah, we have, it is in my to-do list and we have been preparing for that.
So it's going to be implemented soon.
Okay. There you go. The answer to that. Another question we have, let's say I've got a buddy here.
Maybe his name's Kenton. He doesn't know anything about crypto. I've got my Thor wallets, right? And I want to on-ramp him onto Thor wallet. What are the perks? Do I get special perks by on-ramping new people to your wallet?
Yes. So we have a referral program that we just reintroduced now for the airdrop.
And then we're going to be starting to, we already are doing that.
So we're counting how many referrals you have and so on.
The specifics of the reward program are not live yet because we're still working on it.
But basically what is going to happen is you're going to be earning basically a share of the people that you refer.
So like if you refer people and those people go and swap, then you will be earning basically money from those referrals.
What it is like right now is if you go and start referring people for the airdrop and
those people participate in the airdrop, then you're going to be getting a higher
allocation for the airdrop as you get more referrals.
And this actually is one of the interesting things as well, because this is where we sometimes struggle with the real world,
the crypto world, and the real business needs,
because we had a different referral program in the past,
and that's something that we kind of realized it was working,
but it was not really what we wanted.
Because if you share the link, so our main user base is mobile.
And how it used to work before is you would share a link and that
share that link, when you click it, it would send you to our web app.
And then that web app would say, okay, download our app.
So basically it was multiple steps, right?
And if you had two, three steps, many people drop out and that
doesn't
really work. So until recently, we found another system where now it's a referral link, refer.wallet
and then .org, and it has some information, so we can identify who's referring anonymously,
but still we can say, okay, wallet introduced so many people and so on.
But basically now this link takes you directly to the app store.
It's Android or automatically recognized if you have an Android or if you have an iOS.
And we get that information back to us saying, okay, this guy referred this another person. So that is some
big change that we are introducing. It's now live, the referral part, but what is going to be
also live soon is the entire reward system that comes along that so that you say,
I get the share of the referrals and so on. So the people who make referrals now,
those like, you know, the revenue sharing thing is not happening yet.
But if you make a referral now, does that get like kind of banged?
And then when that system goes live, you will get
you will get the share of the swap fees from the people
that you did before it goes like I totally butchered that.
But I think you understand what I'm saying.
Yeah, yeah, exactly.
So what we're doing now is like if you refer now,
we already started tracking.
So we already started tracking on how many referrals you have,
if those referrals created volume, et cetera.
And that is going to be baked into the program rewards.
And if you already have a lead on,
I already referred 100 people
and those are bringing volume,
we're going to have that
tally into the rewards.
And another question that people
always ask related to that
is what happens with the old system?
So, and the old system,
as I said, we found out
that it was not really working. It was, and the old system, as I said, we found out that it was not really
working. It was working, the system worked, but it was not business logic that we wanted
to support in the sense that we want you to as quickly as possible download the mobile
app. This is kind of one of our core metrics. And the previous system was, as I explained right now,
like you refer, then we would track the volume. And then from that volume, let's say you have
$500, you will be able to claim those. But as we move from TGT on Ethereum and then TGT on Arbitrum
and now Titan on Base, that system, because it was on different chains,
we didn't adjust it.
So we still have now basically a list that says
people who were in the old referral system
that have not claimed their rewards,
and we're going gonna basically close that first
and then we will open so everyone who will still have rewards from the old system because they come
and ask frequently in our discord those are not lost they will still get those rewards obviously
not in tgt because that token does not exist anymore um but they will get those rewards and
then we will kick off the new reward uh Uh, and the other one is completely shut off now.
Okay.
Sounds good.
I'm going to kick it to Kenton real quick.
Did you have anything else you wanted to ask?
Uh, I don't know, but, uh, we'll bring up aftermath.
You've been patiently waiting.
And so, uh, you got something to say you want to ask, check your mic.
Give me a few seconds, buddy.
I might be.
I know what it's like.
You're waiting to speak and you got to,
then all of a sudden you're tapped on the shoulder.
You got to get yourself sorted out.
Aftermath, are you there?
Sorry, Aftermath.
This is another reason we got to move to Riverside
because I brought up Aftermath as a speaker, but Patriot can't see that he can't see him yeah um and that happens all the
time like he if somebody maybe some of you have requested well we don't see any requests like and
you know and that'll happen too people request to come up and we can't we don't see you so just a you know it's a nightmare yeah yeah if anyone else wants to come up please uh
request now it's open stage guys you know what kenton said earlier so true that that's one of
the hesitance of going to live stream we do not want to silo ourselves away from community so
that's why we're hoping that it'll actually be more engaging and better content and then we can
see questions in real time.
And so that's the whole point.
We do not want to ever silos ourselves away from the community.
Yeah, I see another question on the chat about perpetual and
the fees and the buybacks.
And so the question is how much fee were collected so far with perpetuals options? Is he still plans to make buyback with those fees? Is it possible to use those
fees from perpetuals for a liquidity pool? Yeah, that's interesting question. So I think
like five, six months ago, we introduced perps with our partner DYDX. That was also a heavy push and interesting.
And I think that was successful so far.
We have not...
I think there are multiple things here to analyze.
So the first thing is it has been successful,
but not as successful as we imagine it would be.
And I think mainly for that is once when we went live, there was this immediate
backlash against perps. Like there was, I think a couple of them lost a lot of money for,
there were massive liquidations and so on, because that was when Aster and then, I don't know, the
other ones just kicked off. So I think the volume overall reduced after that we kind of just launched.
The other thing is the market is not doing so well as everyone knows, right? Like the volumes are
much, much lower. I recently saw like the volume of not only swap volume, but attention is not in crypto.
The YouTube views for crypto-related content is at this whole time low.
And the third thing is we introduced perps as an advanced feature, but we introduce it only as market orders only. So basically, all the
more advanced functionality that advanced traders would like, so like limit orders and
other isolated markets and so on, we didn't introduce yet. That's something that we also will be working on this year.
And the point about the fees, so those fees, what we said, or the idea of the team is,
going back a little bit to the tokenomics, is when you have a token like ours where people are getting rewards
and there's kind of USD rewards flowing,
that creates kind of a very loyal user base.
But at the same time, even if you have like $5 of sell pressure,
the charge starts looking not so great
because everyone who wants to
hold the token is happy collecting the rewards, but there's two, three guys with small money and
they can still make the chart look very bad, right? Because the chart is only the last few people who
buy or sell. So one of the things that we have considered was some of the fees that are coming from services that we cannot distribute,
that we might do some buybacks. But we were considering that buybacks and burn do not work.
So because that is just basically burning money. So one of the things we were considering is
using that revenue, buying back,
staking ourselves, and then basically doubling down and becoming, you know, the main, you become the biggest believer in your own project, right? Like you say, we're gonna, we believe in the
future cash flows, we want to put the money there. So that is still, it is still a consideration,
and that's something we want to execute.
But as I said, like the fees on the perps have not been as high as we expected.
So I can speak a little bit on that.
I actually tried to use the perps on there, but I guess because I'm American, right?
It's geo locked me out.
And that's not a criticism at all.
I think this goes to what kenton was saying earlier it's just the amount of regulation that you guys have to navigate during this weird transitional
teenage years of crypto becoming mainstream it's got to be exhausting i actually feel really bad
for you guys you know you've got this amazing banking license and i think to kenton's point
if if you could just i bet if you guys just if you had the shackles removed from your hands, you would just fly.
So, yeah, that's why I think it's a problem.
Yeah, I think it's going there.
I mean, we're making small steps, but steady steps and those compound.
And we definitely see the user growth, the revenue growth.
We would like to go faster, but sometimes we do go faster.
Sometimes it slows a little bit down.
But yeah, I mean, we do have to kind of play by the book
because we are building a long-term business here.
So we all have always considered things that are in the best decisions for us, that we believe are the best decisions for us for the company in the long run.
And some things will, you know, might not be the most convenient or we will have these, you know, hurdles like you cannot use it in the US.
I think that is changing as well, but it is an ongoing process.
And just one small clarification there as well, as you were mentioning.
So we have relationships now with partners that have banking licenses,
but we ourselves do not have any license because that puts us in a completely different game that we do not want to be.
So we want to be the integrator and in a way like the Apple guy who comes and
once something is working, they make it nicer, better user experience, cleaner and so on.
But because the banking partner has some pretty strict regulations.
So they get audited once per quarter.
They cannot work remote.
They need to keep paperwork of this and that.
So, for example, the KYC process, that's something that is not done by us as well.
So we have a provider with the banking partner.
They take over that. They take over all the data,
and then we just say,
is this a valid customer we can provide access to,
yes or no?
Because those guys are on the hook for whatever happens.
So then they have very strict things.
And from our side, what we look into is,
how do we bridge the gap for people that have crypto, but want to spend and want to on and off ramp.
Got it. Okay. I have another question here. The other question is, when ETA will spot trading limit orders be implemented in Thor Wallets?
in Tor wallets?
ETF trading, limit orders.
I mean, all of these things are things that we want to introduce.
From the limit order, there's two aspects.
So let's say the swap, normal swap.
I know that Torchain was introducing this.
We even have some designs ready.
I don't know what is the status of that.
I need to follow up.
But I think it was put on live, then it was halted,
something like this.
I'm not too sure you can give some context to that.
But we definitely want to introduce the limit swaps
functionality.
I don't know if it's live or not.
OK, no problem.
We're going to go ahead, guys.
Go ahead, Pedro.
Yeah, and so that was to the limit swaps on Torchchain.
The other thing is the limits on perpetuals.
That's something that we want to bring this year.
So it will be something for quarter two probably.
And the other thing about ETFs, so we are working as a result with real asset providers.
And even in our perpetuos, now you can trade certain stocks.
So I think that's where we, I think regardless of what happens in crypto, I think that the biggest things that will move now are going to be like the cryptification of certain services.
So like stocks coming to crypto, services coming to crypto that they just make it faster.
We already saw that with several stocks, Tesla and so on and others.
You can already trade those via our partner at DYDX, but they are in the isolated market.
But we're bringing that.
You can swap them through Solana.
We have that enabled.
But that's something that we definitely want to focus a lot more so that it is easier for
people who just have their crypto and they want to exposure to NVIDIA.
Then they can do it through us.
And ETFs, that's an interesting thing.
We do not have at the moment any plans for that,
but that is something we should look into definitely.
Like that is a lot of people, you know,
their main way of interacting with the financial world
is via ETFs, they do nothing else.
And that's something we should offer.
Well, actually I said E said eta um it was a
terror i really clumsy okay but but i'm actually glad that you thought i said that because that's
actually kind of an interesting answer so thank you for that um guys want to shout out to the
audience again if you want to request to come up um aftershock i'm going to give you one more or
aftermath i'm sorry aftershock if you want to give you more a chance to try and check your mic there
but again this is an open forum guys so please request now if you'd like to come up
and talk to uh the most handsome mexican in the world i'm checking over here i'm seeing
i don't see any other questions oh someone is typing so i'll give them some time to formulate
their question um yeah man this is you guys got a lot going on. Shout out to you.
You guys are building and you're building for tomorrow,
not for today.
I think it's quite clear what the problems are, right?
You know, regulation and such an infancy in their thing.
So shout out to you.
Yeah, thanks guys.
Yeah, we are happy to be here, you know,
going through the ups and downs and, you and downs and being in the decentralized space.
We're big believers on the vision of Bitcoin and owning your own assets and privacy.
And if you cannot swap your assets, then basically you cannot do much, right?
And we're excited to have the work that is ahead as well.
We know that there's many things to do, but we're also quite thankful to the community
because many people have been with us for several years,
and they actually request a very high bar, and we thank them for that because they do say,
they speak their mind when they think something is not working
or we need to improve the user experience.
And we do take user feedback very, very to heart.
I mean, some things we do not have priority for that or some but we do we we constantly go into
discord marcel uh myself we we provide the you know the customer support ourselves because we
want to hear the user we want to know what is the pain point and we want to know where we can improve
yeah and uh yeah shout out to the thor wallet for chain community um i'm actually in a few of those groups where we help bug test um you know i have android so i've actually noticed
a few things way a long time ago um so yeah everyone's really committed and super helpful
it's it's so great to see um pedro we got another one here um question is is there any info of the team probably dydx team is there a plan to implement uh limited
buy trigger slash orders for perks now now you can only sell like that yeah so this is definitely
gonna be done uh from our side so it is um it is available with DYDX.
So in DYDX, basically you have two types of interfaces.
So you have the dumbed-down version or the simplified version,
and that's what we implemented.
And not because it's dumbed-down,
it's just like on perps there's so many things,
like you see these buttons, numbers.
And for a lot of people, like that's too much.
So we decided to start with a more simple, less features version.
But then you have the pro full trading suite where you have isolated trading, where you have limit orders, where you have all these advance, one cancel, other, and all of those things.
And that's something that we introduce next.
We do not have an ETA yet on that because we need to do some planning.
But from a trader perspective, that's what you want, right?
Because you don't want to be opening or you might want to do in certain circumstances,
you might want to open along with the market because, you know, it just some news happened or whatever.
But the majority of people will want to have lower fees via limit orders and that type of thing.
So we're going to be introducing that once we introduce the more pro perpetual driven interface,
which will have like isolated markets
that will also have limit orders and advanced functionality.
So I think that will come maybe middle of the year,
sooner if we're able to push the card out the door earlier,
but it is our goal because we also believe that big
swappers are going to be requesting like big traders request this feature so yeah it's coming
uh i don't know in a few months sure sure um kenton i have another question but kenton i just
want to kick it to you if you've got something no keep going man Okay. Next question is, you know, borrowing and lending.
They're going to be coming on the app layer for Ruggiero soon.
Are there plans to implement Ruggiero and Primitives anytime soon?
What's that relationship look like between you and Ruggiero?
Yes.
Well, the relationship is good.
I mean, we like the guys.
We have been supporters of Rojira since
the very early Maya days. So we have supported now, I don't know, maybe three years or so
it has been on the app. So we have been with them through the journey. You were able to
swap Kojira in Thor Wallet. Now you can hold Kujira in Thor Wallet, you can swap.
It's available for seed, for multi-seek.
And we also have already embedded the staking functionality.
We are in close talks with them, you know, just kind of filling the waters.
How is it going with the different products that they have?
How is it going with the Perpetuas?
How is it going with the lending markets?
And to be honest, I think Ruggiera is a very exciting project.
I think that it also is very ambitious.
So, I mean, I'm just kind of, I'm also one of those guys that are messaging when, when,
because we want some of those services to be offered to our users,
like being able to lend, but in a proper way where you have lending markets,
where you get liquidated, where you have interest rates and all of that.
So I think as soon as they're ready, we will start looking into possibilities to integrate, you know, depending on how advanced is the TVL and so on.
But yeah, we are definitely eager to do that.
And especially considering that Ruggiero will also have some cross interactions with Maya.
So that's going to be interesting too, to have all of those,
you know, three work kind of in unison. So yeah, we want to offer more features related to
Ruggira. I mean, if you do not know, you could go already and stake your Ruggira InterWallet.
Go ahead and do that. And we do want to offer lending. So that's what I mentioned before.
We're going to be introducing Avesun,
which is the largest lending protocol in crypto.
And we're going to be doing it kind of slowly,
starting with supply only so that people who want to get an interest,
they can go deposit an interest.
And later we will see we will also enable borrow or not.
In our experience is that many of these advanced features, like for example, LPE, borrowing and so on,
I think people not always understand fully the risks. So it's hard to, you know,
consolidate into something that the people understand. Okay, you're taking so and so
risk, you're taking this other risk. And then that's why we will start only with, you know,
very consolidated lending projects. And once Ruggiero has, you know, started to get some
traction, we are happy to look into that as well. i appreciate it thank you for answering that and
that concludes all of the questions that i have that i've been gathering and the ones that people
tag me thank you guys so much um for for doing that i really appreciate that you helped me make
the space much more interesting engaging when you give me things that are specifically relevant to
you so that's awesome um well pedro i want to give you the floor here is there anything
else whatsoever that you think we didn't cover or you want to mention um i am i think i'm out of
questions now so maybe this might be a good time to begin the process of wrapping up but the floor
is yours or anything else you want to say uh well first of all thank you guys both uh we're happy to
be here uh you know we have been a couple of times, happy to discuss multiple topics,
but especially focusing on Thor Wallet.
That's our day-to-day.
We are obviously closely looking at what's happening always
with Torch and Tool.
We're heavily involved and so on.
But from our side, I mean, we love this format.
Keep pushing.
Thanks for having us.
And for those that have not tried ForWallet or did try us in the past
and, you know, had good or bad experiences,
go and try us again.
Download, give us feedback, help us improve.
And yeah, that's it.
Go to ForWallet, follow us, follow us on Twitter. Stay tuned because we have a lot of things that, that we're still kind of cooking and, you know, are not fully, fully ready to be announced. But there's a lot of things that we are planning to achieve this year. We believe 2026 is going to be an amazing year. And thanks for having us.
here and thanks for having us hey no problem um someone did squeeze in a question um real quick
another one so they want to know because you have the um you have that raffle system right that you
guys have that gamification um they want to know what percentage of fees go for the raffle
that is five percent five percent of the fees go to the raffle. It has been interesting with the raffle. We have some very avid users.
We are going to be introducing a third, yeah, I would say like a third version of it with
more, we're having a new game soon. And the reason for that is because on the app, we
also want you to be engaged. Sometimes crypto, Bitcoin moves like within a $200 range.
And if you're not doing perpetuals, there's not much to do on the app.
So we want to reward people who are active on the app.
So if you have not done that, go to ThoreWallet, download the app, check the rewards section.
You get rewarded for nothing.
rewarded for nothing. You don't have to spend anything. You just have to come, log in every day,
Like, you don't have to spend anything.
play the spinning wheel once, and then you can start already accumulating. And the thing is,
because it's a raffle, we had some people that have won with very low amount of tickets. And
the rewards depend on the activity on the wallet, of course,
if we have better weeks or not. But some of the raffles have been close to 5K. And then
the number one guy wins like almost half of it. So there is quite some interesting rewards
for being active in third wallet. Also, if you swap and other things, you get
more rewards. But yeah, that's right now at 5%. And that is also how we thought about
that is if we grow bigger as we want to become one of the top three wallets in the space,
that could be some serious money, right? And then people are just going at it heavily and finding ways to strategize
to win those rewards.
And for us, we're happy to share that as well,
because we want people to be active on the wallet.
We want them to have it as their main wallet.
And we will be introducing more games soon.
There you go.
Appreciate it.
Let me just do one last check here.
I think we're going to call it there on the questions.
Very good.
Thank you, everybody, once again.
Hey, Pedro, you are the man.
Thank you for hanging out.
Let's say almost two-hour long space.
This has been a great one.
It has just been deep in the weeds in Thorwald, you guys.
Make sure if you join this late, definitely check out the recording.
We've taken a lot of notes on this one, so it's going to be awesome. Okay, guys,
next week, we're going to be having Let's Exchange. This is going to be Saturday. It's
going to be a Monero centralized exchange with Nadine. I am really looking forward to that
space. It's going to be really, really interesting. So if you are a fan of privacy, if you are a fan of privacy if you are a fan of monero don't do not miss that
episode i'm really really looking forward to that um kenton was there anything else before we wrap
it up uh just as always guys these spaces are for you if you have any ideas for guests please let us
know um we're starting to run out of i guess so um yeah yeah give us some ideas so we can
populate the next few saturdays and uh and thank you pedro for coming on thank you guys
have a nice saturday likewise barb thank you guys enjoy the rest of your weekend thank you
everybody for showing up today. Take care now. Bye-bye. Thank you.
Insights
Project L
4Chain is introduced as the largest decentralized exchange for Bitcoin, allowing users to swap tokens without connecting to a website, marking a significant advancement in the crypto trading landscape.
introduction out of the way. I hope everyone's having a great Saturday. For those who don't
know, 4Chain is the biggest decentralized exchange for Bitcoin in the world. And now you can use
every Bitcoin wallet in the world and you don't have to connect it to a website. Same with Ethereum, XRP, BNB, Tron, Doge, and more.
The launch of Rujira, a new app layer on ThorChain, is set to unlock various functionalities including lending, NFTs, and prediction markets, showcasing ThorChain's evolution into a comprehensive DeFi platform.
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-backed, stablecoins, token launchpad, NFTs, prediction markets, and more.
ThorChain isn't just a DEX.
Token L
ThorChain's token, Rune, is highlighted as essential for transaction fees, with a unique mechanism where fees are used to buy Rune, directly linking token utility to platform activity.
which is an app inside of your wallet. Really cool features and functionality as well. We love
our boys. To tell you more about ThorChain, ThorChain's token is called Rune, and 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
The introduction of TITN, the token for Thor Wallet, is announced, with plans to discuss its features and benefits later, indicating a strategic move to enhance the wallet's ecosystem.
and Thor Chain is currently deflationary with 5% of the revenue burned.
Thor Wallet has a token too called TITN,
but we will be getting into that later, so hang on tight, guys.
The mention of TCY, another token associated with ThorChain, emphasizes the project's diverse token ecosystem and its potential for revenue sharing with holders.
reach out to me as well if you want to reach out to rune tard on X, he is at runetard. That's at R-U-N-E, 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.
The announcement of the TITN token's launch and its integration into the Thor Wallet ecosystem signifies a key development in the wallet's functionality and user incentives.
in this i want to earn maybe some revenue from this um you have a token titn i believe that's
titanium if i'm not mistaken right um maybe tell us about your token. How does it work?
Yeah, floor is yours.
P
The conversation reflects a positive outlook on Thor Wallet's growth trajectory, with plans for new features and a focus on user engagement, indicating a commitment to expanding its user base.
guys,
let's get this show on the road.
My name is Denny.
The shift from Twitter Spaces to video streaming is discussed, highlighting a trend towards more engaging content formats in the crypto community, aiming to enhance user interaction.
operator and bond provider and i'm also running the marketing team to promote ThorChain.
And yeah, I'm looking for the last piece on Thursday. We talked about we're going to start moving away from doing actual spaces on Twitter.
And we're going to move.
The collaboration with Riverside for live streaming indicates a strategic partnership aimed at improving user experience and engagement in the crypto space.
We're trying to, our goal is to keep this as an open forum
and give everyone the chance to be heard.
So we're worried about going to a different platform
The airdrop of 5 million TITN tokens to liquidity providers emphasizes the project's commitment to rewarding active users and enhancing liquidity within the ecosystem.
now, nowadays. So what we have decided is we're going to be sharing 5 million titan
and among 300 users. And the dynamics for this is we ask them to LP because then they help the network, they help one of our close partners, and they also help the Titan community to have deeper liquidity for people who want to buy and sell.
So they need to LP at a minimum of $1,000, so $500 Titan, $500 USDC.
