[Discussion] Thorchain

[OmegaStarScream]

Trading on thorchain is now live again. Solana is still unavailable for some reason but they have not made any comments about it yet[1].

Also a bit unrelated but curious to know what happened if anyone knows? it looks like jpthor have deleted all of his tweets from the past 7 years, with the exception of one retweet of Station wallet.

[1] https://x.com/THORChain/status/2069313644605673545
[2] https://x.com/jpthor

[CopyPastMe]

Looks like Thorchain is 1-2 months away from the Monero's mainnet.
Zcash mainnet by the end of the month...

https://blog.thorchain.org/xmr-is-coming-monero-on-thorchain-in-1-2-months/

Wondering how much liquidity would that suck out of the privacy-focused non KYC exchanges we currently have.

Have you finally presented it?

[hugeblack]

Wondering how much liquidity would that suck out of the privacy-focused non KYC exchanges we currently have.

Have you finally presented it?

I don't know how it will work, but swapping XMR --->native token, RUNE ----> BTC or vice versa will not be 100% anonymous, and may lead to all coins passing through THORChain being high risk and may be frozen immediately upon depositing on any central exchange.

[albon]

I don't know how it will work, but swapping XMR --->native token, RUNE ----> BTC or vice versa will not be 100% anonymous, and may lead to all coins passing through THORChain being high risk and may be frozen immediately upon depositing on any central exchange.

THORChain’s Terms of Service clearly state that the protocol does not provide any guarantees regarding continuous access to the service, no bugs or issues, that information is accurate, or successful execution of transactions. It also places full responsibility on the user for all risks from using it, making the user solely liable for any losses or damages.

So far, I have not seen XMR or any privacy coins available, but if they if they were available and a user received assets classified as high-risk and then transfer them to a CEX , which is a regulated entity, the protocol would not be responsible for what happens in that case.


Source: https://thorchain.org/terms-of-use

[OmegaStarScream]

Has anyone seen any updates regarding the XMR implementation[1]? It's quite strange how they are no longer talking about it.

Do you think it's because they're possibly being pressured? Or simply due to technical difficulties?

[1] https://x.com/THORChain/status/2072356304719597785

[Yamane_Keto]

Has anyone seen any updates regarding the XMR implementation[1]? It's quite strange how they are no longer talking about it.

code is ready, and testing is still underway to ensure the stability. It might not appear in version 3.20, but it will definitely be included in the next version. beta period could be long if they are being cautious.

Monero Gets a Soft Launch as THORChain's v3.20 Enters Testing and ADR31 Passes

Monero's code is essentially ready and the churn is the blocker. Zcash probably takes the next churn, with Monero after. Chad's separate churn-removal work would not cover $XMR, which brings its own signing algorithm.
The plan settled on air is to launch Monero as a soft launch, an openly labelled beta period with its length still open, on what Denny called the most complicated chain client THORChain has added.
Protocol-owned liquidity should switch on with v3.20, Chad hopes, and would pick its own pools by comparing depth against revenue. Gas assets are enabled by default, while stablecoins and ERC20s each need a node vote.

[OmegaStarScream]

Thornode 3.20 update should be activated by tomorrow[1]. This should bring Zcash, Monero swaps and also reenable Solana, BNB and Base to Thorchain with according to (I believe) one of the developers[2] saying that Zcash going is expected to go live first, probably within the first week the new update.

[1] https://x.com/THORChain/status/2090762085449736203
[2] https://x.com/BooneW/status/2091623895191240784

[OmegaStarScream]

According to one of Thorchain's team members, Tether has blacklisted Thorchain's USDT vaults on the Tron network[1] (making swapping to TRC20 USDT also unavailable).

If I had to guess, I would say this is related to the latest Bitget's hack, but you would think this would affect all of the other networks, and even USDC, assuming this was done based of a legal request.

[1] https://x.com/CBarraford/status/2108557963313004689

[hugeblack]

According to one of Thorchain's team members, Tether has blacklisted Thorchain's USDT vaults on the Tron network[1] (making swapping to TRC20 USDT also unavailable).

Liquidity providers/vaults will bear the loss in this case, as it is difficult to mix USDT/USDC. I hope it is not applied retroactively, as old transactions related to those pairs are tracked.

[OmegaStarScream]

Liquidity providers/vaults will bear the loss in this case, as it is difficult to mix USDT/USDC. I hope it is not applied retroactively, as old transactions related to those pairs are tracked.

Looks like they just unfrozen the addresses[1]. Trading has also been resumed from what I can see on the swap page[2]. It would be really interesting to know what happened... could it be a mistake and a mixup while blacklisting Ledger's incident addresses?[3]

Also an update which I forgot to post about: Zcash trading is finally live[3].

[1] https://x.com/CBarraford/status/2108582069958033547
[2] https://swap.thorchain.org/
[3] https://bitcointalk.org/index.php?topic=5596352.msg67223742#msg67223742