Steps to Resume Trading, Dynamic and Referral Fees, Protocol Owned Liquidity | Podcast #209

In this episode, we provide a marketing update, followed by a brief update on the exploit. We then dive deeper into a couple of bigger topics, such as dynamic and referral fees, protocol owned liquidity.

Swap now https://swap.thorchain.org/

THORChain is a decentralized crypto exchange. THORChain is the first and biggest DEX for Bitcoin. You can use any self custody wallet to swap and there’s no KYC required.

Timestamps:

00:00:00 Intro

00:02:00 Marketing update

00:04:00 "KOL" talk and bang for buck

00:06:00 Getting new chains added is super important for getting brand-new users

00:09:00 New Affiliate page on swap.thorchain.org

00:11:00 Kenton is thinking the affiliate API should be permissioned

00:12:00 Chad B starts, 3.19.1 fully adopted

00:14:00 1 day, enable signing and churn

00:16:00 KeyVerify talk — when should we move on if it doesn't work?

00:17:00 KeyVerify will be disabled after this moment

00:18:00 Kenton asks about the exact order of turning things back on

00:20:00 THORChain is decentralized — it's obvious

00:21:00 Nodes had to do a lot of steps with developers

00:23:00 AI made this so much faster for us

00:24:00 Over time, we will have a more professional node operator base

00:26:00 Devs have been working nonstop on separate issues

00:27:00 Post-mortem is coming, hopefully within 2–3 weeks

00:29:00 We do a very good job being public, but that is often used against us

00:30:00 When we get going again, we will be testing the dynamic fee model with select partners

00:31:00 Applies to all THORNames

00:34:00 Chad says he is not sure who is correct on dynamic fees

00:37:00 Start simple and tweak it as we get more info

00:39:00 Kenton: It should be obvious

00:40:00 SwapKit rev-share program discussion

00:45:00 Stable-to-stable swaps should be neutral but result in more volume

00:46:00 Kenton: Stablecoin idea should be great

00:48:00 Denny: Stable-to-stable will be amazing for point-of-sale applications

00:50:00 Kenton: Dynamic fees may be really helpful for direct integrations

00:51:00 These features are bound to "click" with partners

00:54:00 Lots of exciting things are coming!

00:55:00 XMR testing update: Going well!

00:56:00 Huginn update: Pointed it at Serai

00:57:00 Monero may be coming within 1–2 months

00:59:00 XMR actually works!!

01:01:00 RUNE question from the audience about governance

01:03:00 Kenton breaks down liquidity pools

01:05:00 It is not hopium — THORChain has fundamentals

01:07:00 This protocol is actually real and useful

01:11:00 TON Wallet question from the audience

01:12:00 We are reaching out to everyone!

01:13:00 POL transition: Protocol-Owned Liquidity

01:14:00 Kenton thinks 25% POL is what is needed

01:18:00 Chad B: Where do you stand on POL?

01:20:00 Bull market POL could get very crazy

01:23:00 Dev fund could make much more money and the treasury could go away

01:25:00 We are moving away from a hard cap

01:27:00 Denny gives his thoughts on LPs

01:30:00 LPs withdraw when things turn around?

01:35:00 We didn't have data about AMMs when we first started

01:41:00 The scalability of THORChain in terms of liquidity and developers

01:45:00 Possible incentive pendulum tweaks

01:48:00 Price/volume graph comparison

01:53:00 Stock trading on-chain — KYC?

01:55:00 Perhaps companies will push for permissionless

01:58:00 Stocks

02:02:00 How have Maya devs been doing?

02:06:00 Outro

02:09:00 Attempt to attack Chad Barraford