In this episode, we mostly discuss app layer and base layer alignment, communication going forward, and how to improve both.

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

00:05:00 App Layer pause

00:07:00 Concerns about pausing the App Layer

00:10:00 Freezing the emergency brake

00:13:00 Restarting should be safe

00:16:00 Breakdown of arbitrage revenue

00:24:00 Discussion about the ramifications of pausing the App Layer

00:33:00 Continuing the discussion

00:36:00 DCL discussion

00:40:00 Sonar is coming!

In this episode, the team discusses the v3.20 update, chain stability issues, Monero and Zcash, AI using THORChain, problems with memoless swaps, and much more.

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

00:03:00 AI video

00:06:30 Kenton marketing update

00:09:00 Chad B talks about recent events and pausing for a few weeks to harden the protocol

00:15:00 API endpoint relationship between THORChain and the App Layer

00:16:00 We are doing very well in AI!

00:19:00 Chad B: The exact future of AI is unknown

00:21:00 "Exact out" swaps

00:26:00 When will THORChain be back online?

00:27:00 AI purchasing things online

00:30:00 Will "Add bond yield auto-claim using optional THORName affiliate collector payouts" make it into 3.21?

00:31:00 What is the situation with the open-source TSS library? (Currently closed source)

00:32:00 XAUT is coming

00:33:00 MOR is whitelisted — seed the pool soon?

00:36:00 AI self-improvement models and open-source AI

00:39:00 Could open-source AI recursive learning pop the AI bubble?

00:42:00 ADR 30 discussion

00:44:00 What ADRs are coming next? Free stable swaps, per-asset MinBPS, ADR requirements, Devel's BLOs

00:46:00 Free stable swaps are actually very complex — Chad B started developing them

00:49:00 Why does it take nodes so long to vote?

00:50:00 ADR voting requirements

00:52:00 Are we at the mercy of the nodes?

00:54:00 LP depth question and churn-out question

00:56:00 POL payment frequency to pools once enabled

01:00:00 Revenue-sharing progress

01:01:00 SwapKit is very close to enabling revenue sharing — 1–2 weeks (20% revenue share)

01:04:00 THOR token depth question — apparently, they are not being accounted for correctly

01:06:00 Memoless issue

01:09:00 How do we address spam attacks?

01:15:00 Continuing the conversation

01:18:00 Be careful when sending large swaps

01:21:00 Some people don't like freedom because it scares them

01:25:00 App Layer minority

01:30:00 Years from now, people will be amazed by how hard it was to build this stuff

01:32:00 The technology we're building attracts great thinkers

01:35:00 Is Go sustainable? Should we move to Rust?

01:38:00 Any other topics, Chad?

Denny, Kenton, and Ibek discuss Unstoppable Wallet’s THORChain integration, RUNE and TCY support, privacy, open-source development, AI security, DEX aggregation, stablecoin wallets, and the future of Unstoppable Wallet.

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

00:03:00 Marketing update

00:05:00 Referral links structure

00:06:00 Unstoppable integration history

00:07:00 Unstoppable introduction — Ibek

00:08:00 Unstoppable was created out of necessity

00:11:00 The wallet has been a core product for eight years

00:13:00 The wallet lets you swap anything to anything

00:14:00 Ibek loves working with THORChain due to the ideological alignment and attention to detail

00:16:00 What separates Unstoppable from being completely private? — UX trade-offs

00:20:00 XMR and Zcash support, including shielded Zcash

00:21:00 You now support RUNE and TCY — what else?

00:22:00 Unstoppable is purely a mobile wallet

00:23:00 No browser wallet for now due to the risks of the AI era

00:25:00 It's very difficult to lose your RUNE through either passive holding or bonding

00:28:00 How difficult was it to add RUNE support?

00:29:00 Adding THORChain was easy for Unstoppable Wallet

00:32:00 Forking Unstoppable's integration into other wallets

00:35:00 Open-source vs. closed-source in the AI era

00:39:00 Open source should always be the medium- to long-term goal

00:41:00 AI capabilities

00:45:00 Are you planning to add App Layer primitives?

00:47:00 Houdini Swap discussion — how do they achieve privacy?

00:51:00 NEAR is permissioned but fast due to this trade-off

00:53:00 STO needs to integrate more DEXs to give customers more options

00:56:00 We need to support tokenized assets

00:58:00 THORChain, Maya Protocol, and other DEX aggregators explained

01:01:00 We can enable the DEX aggregator for other pathways

01:03:00 Unstoppable has not integrated Houdini Swap due to risk considerations

01:05:00 Tainted funds and aggregator considerations

01:07:00 Another layer of complexity — aggregation introduces additional failure risks

01:10:00 Edge cases like memoless swaps

01:13:00 UX consideration: Pop-up for double swaps

01:15:00 Is Unstoppable considering a token?

01:18:00 Token design possibilities

01:21:00 Announcing a new product — a wallet specifically for stablecoins

01:23:00 Is this a trend for stablecoin wallets?

01:25:00 Thesis: Stablecoins will be integrated into everyday apps within 1–2 years

01:26:00 How do you make money with this wallet?

01:27:00 Feeless stable-to-stable swaps on THORChain

01:28:00 Would you see value in that capability, Ibek?

01:30:00 Is there demand for this wallet right now?

In this episode, the team discusses the latest developments across THORChain, including the ongoing v3.20 vote, the upcoming POL vote, ADR 29 passing, and what could be coming in v3.21 and much more.

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

00:03:00 Help desk update

00:04:00 MimbleWimble and memoless swaps — don't do it!

00:06:00 App Layer features coming to STO

00:08:00 Abstracting secured assets away from the user experience

00:12:00 Rayyk has been helping a lot with data analytics sites

00:13:00 Version 3.20 vote is ongoing — POL vote coming soon!

00:15:00 Will auto-claiming bond yield through optional THORName affiliate collector payouts make it into 3.21?

00:16:00 Over-solvency explained

00:17:00 Treasury discussion

00:18:00 What is the future purpose of the treasury?

00:21:00 THORChain conference

00:23:00 Reserve emission curve and over-solvency — ensuring block rewards continue to be paid

00:28:00 Economic Mimir for the emission curve?

00:31:00 Voting on the POL percentage

00:32:00 ADR 29 passed!!!

00:33:00 SwapKit is very excited

00:36:00 CCL on the App Layer could help THORChain operate more efficiently

00:39:00 When will the App Layer restart?

00:41:00 The debt of the United States

00:46:00 TSS library: Open source, closed source, or something in between?

00:48:00 An ADR to ask nodes what they think about the TSS library?

00:50:00 Kenton wants it to be open source

00:52:00 A three-month delay before open-sourcing?

00:56:00 A closed-to-open-source ADR could be a healthy development

00:59:00 What if Chad B were forced by Big Brother?

01:02:00 Maya exploit discussion

01:07:00 God saves the hardest battles for the toughest warriors

01:08:00 We're going to come out ahead

01:11:00 XMR is coming — lots of hard work!

01:12:00 TAO/Bittensor is slated for 3.21, followed by Dash

01:15:00 LP pause and resume question

01:18:00 Lessons learned from DeFi over the years

01:21:00 We are here for the mission

01:25:00 Possible partnerships to create additional revenue streams for the treasury

01:27:00 Dev Fund allocation percentage

01:30:00 Burn discussion

01:35:00 Selling RUNE in a strong market to make capital last longer

01:38:00 Looking forward to XMR going live and getting things moving

01:40:00 Immediately market the XMR chain when it goes live

01:41:00 Call it a soft launch

In this episode, we dig deep into Dash and its most recent upgrade, along with THORChain and the core principles that have made it a market leader to this day.

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

00:02:30 Kenton marketing update

00:05:00 Joel starts speaking — introduction

00:06:00 Peter Schiff got Joel into crypto!

00:08:00 Joel decided to go all-in on crypto

00:09:00 How Joel first heard about Dash

00:11:00 Dash's recent privacy overhaul

00:14:00 The options for digital cash in the past

00:20:00 Privacy is the final boss for crypto

00:22:00 The history of privacy on Dash

00:26:00 XMR privacy modifications to make Dash even more private

00:30:00 Dash has focused on subtle improvements over the years

00:32:00 Joel has been aggressively pushing for private Dash

00:34:00 Dash has had a huge privacy overhaul over the last five months!

00:36:00 Dash privacy will be optional and opt-in

00:38:00 The issues with privacy by default

00:44:00 How inbound transactions work with DEXs and the risks of external chains

00:45:00 Dash has instant finality through masternodes

00:47:00 Why reorgs cannot happen with Dash

00:50:00 Does supporting instant finality give DEXs an advantage?

00:51:00 Instant finality is essential for point-of-sale

00:55:00 Kenton: We've come very far, but fast transaction speeds are coming

00:59:00 How long does it take to swap or use Shielded Dash?

01:04:00 Maya Intents system?

01:14:00 Block time discussion and comparisons

01:18:00 Instant finality is a must!

01:22:00 Dash has two separate systems with redundancies

01:26:00 Bitcoin dunk: They're trying to achieve instant finality with Lightning

01:31:00 Blockchain must be on par with traditional systems

01:34:00 Are there any controversial things happening with THORChain?

01:36:00 THORChain is the true DEX

01:41:00 The market has to reward THORChain's principles and ethos

01:44:00 Chad Barraford shout-out — doing a great job driving innovation

01:47:00 The movement toward permissionless economic infrastructure is very real

01:49:00 We are currently guilty until proven innocent

01:57:00 Kenton: We must compete on all levels

02:00:00 Free stablecoin swaps could be a huge use case

02:05:00 Privacy coins have a huge market fit

02:09:00 Nobody knows about THORChain — yet

02:13:00 Joel can't swap his XMR for Dash — he needs THORChain

02:17:00 Permissioned solvers mean censorship

02:21:00 The pioneer dichotomy

02:23:00 Elon as an example of being decisive

02:28:00 Kenton is not worried about competition — many competitors are subsidized

02:33:00 DashCon discussion

02:37:00 Warfare, blockchain, and why THORChain matters

02:43:00 Joel: Aggressively pursue wallet integrations when XMR goes live

02:47:00 Closing

In this episode, we discuss FROST, DKLS, GG20, the TOR Anchor vote, dynamic fees, and the latest protocol updates. Oleg from SwapKit also joins to talk about revenue sharing, external volume, and how SwapKit data could help improve THORChain.

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:

00:01:00 Intro

00:02:00 New name for STO?

00:04:00 A cheaper interface removed from THORChain branding?

00:05:00 We can create multiple STO clones

00:06:00 STO update

00:07:00 High rankings on AI sites and new Discord support channels

00:10:00 Version 3.20 update!

00:12:00 Recent block-time issues

00:14:00 DEXs should look out for each other

00:20:00 LayerZero exploit and the previous Space

00:22:00 What is FROST TSS?

00:25:00 Identifiable aborts explained

00:27:00 Work continues on adding FROST TSS and DKLS

00:30:00 Should we use multiple cryptographies?

00:32:00 How difficult would it be to build FROST from scratch?

00:34:00 TOR Anchor Mimir

00:37:00 A required voting system?

00:41:00 THORChain has one of the best governance mechanisms in blockchain

00:43:00 What do we use TOR for now that THORFi is gone?

00:47:00 Nodes: Double-check your notes! ADR 29 transition

00:49:00 How will SwapKit track revenue?

00:51:00 If it works, great! If it doesn't, we can turn it off

00:53:00 SwapKit is excited about this — a win-win!

00:55:00 The goal is to bring in more external volume

00:56:00 What should the starting value for revenue sharing be?

00:58:00 Dynamic fee update

01:00:00 Oleg from SwapKit joins!

01:02:00 SwapKit revenue-sharing discussion

01:05:00 Chad B asks about SwapKit quotes versus competitors

01:07:00 Kenton asks about the relationship between spreads and fees

01:09:00 Revenue sharing creates mutual benefits for THORChain and SwapKit

01:10:00 SwapKit's implementation design

01:14:00 Oleg: THORChain's TRON integration is great because there is no activation fee

01:16:00 Nodes: Reach out to Oleg if you have any issues

01:17:00 Chad asks if SwapKit is interested in the dynamic fee design

01:21:00 Oleg: Can SwapKit provide data to help the protocol decide which pools to deepen?

01:25:00 Chad B would love data from SwapKit to help improve THORChain

01:26:00 Boone's treasury proposal could be modified to align with SwapKit's goals

01:30:00 Denny talks about his Space with Dash and Joel

01:32:00 Monero update

01:34:00 Churns become more fragile as more chains are added — can we remove churns?

01:35:00 Could we reach one-week churn frequency?

01:38:00 "Reshare mechanism" to improve security

01:40:00 XMR Layer 1 swaps and the 10-block time freeze

01:44:00 Chad B: Should THORChain build in privacy?

01:50:00 How would it be built?

01:55:00 Is the ROI there?

02:02:00 Finality

David from MorpheusAI gives an overview of the Morpheus platform, how it works, the role of AI infrastructure, and the opportunities and challenges facing decentralized AI.

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 Kenton update

00:03:00 David's introduction

00:05:00 AI needs decentralization and ownership!

00:07:00 Erik Voorhees agreed and helped bootstrap the Morpheus community

00:08:00 Biden administration tried to make "math" illegal

00:09:00 The progress we've made over the last three years is incredible

00:10:00 Morpheus and Venice complement each other

00:13:00 Morpheus is a marketplace and routing system that makes it cheaper for customers

00:14:00 There is no DAO, no premine — nothing. Morpheus is fully decentralized

00:15:00 You can add GPUs to the network and others can use them

00:16:00 Why did the world choose Linux over Microsoft and Apple? No license fee!

00:18:00 Are there any other competitors? Bittensor maybe?

00:20:00 Morpheus is a platform of smart agents

00:23:00 What does the $MOR token do and how does it work?

00:25:00 $MOR makes payments easy through batching

00:28:00 Why wouldn't I run models locally?

00:35:00 Morpheus screen share

00:42:00 Making it easier to use is crucial

00:44:00 Morpheus is growing exponentially

00:46:00 Running locally with Morpheus is private

00:47:00 AGI means your own agent is making money

00:49:00 Kenton: I need to get an agent — how do we get started?

00:50:00 https://installopenclaw.xyz/

00:53:00 "Old RAM" is a bottleneck

00:56:00 Decentralization is harder, but it is WORTH it!

01:01:00 Are regulators helping hijack crypto back to TradFi? Are we going to win?

01:07:00 I am a freedom maximalist

01:09:00 Decentralization for the win (Kenton)

01:11:00 DEXs are the best for agents

01:13:00 Agents First live share

01:14:00 Kenton: Don't mess around

01:15:00 Moore's Law is equivalent to AI agents — rapid increases in capability

01:15:00 Where can you get $MOR?

01:19:00 Are we AI agents?

01:21:00 David: I want my AI agent to be a version of me

01:25:00 Scams are tolerated online because of ad revenue

01:27:00 These companies make lots of money from your data through "free" services

01:29:00 How do you buy $MOR?

01:30:00 There is an ERC-20, Base, and Arbitrum option

01:32:00 Is Chad using $MOR?

01:35:00 Asia is super excited for Morpheus

In this episode, Hans and PragmaticMonkey give us a Rujira update on what has been done, what they are working on, and what to expect.

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 Kenton update

00:04:00 Hans starts and expresses thanks for the ADR 31 result

00:05:00 Recap of the history

00:07:00 Market makers and perpetuals

00:12:00 Perpetuals breakdown and Dynamic Concentrated Liquidity (DCL)

00:15:00 Delta-neutral package

00:17:00 PragmaticMonkey talks about bootstrapping the perpetuals market

00:22:00 Why is the reserve involved in revenue generation?

00:23:00 Status of the new stablecoin launch

00:26:00 Exportable stablecoin

00:32:00 Slow block times recently — do we know the cause?

00:35:00 Hans leaves

00:36:00 Order book screen share

00:40:00 Automated order book explained

00:43:00 Spread ratio explanation

00:47:00 Custom Concentrated Liquidity will add much more utility

00:49:00 COSMWASM MinBPS slip impact

00:55:00 RujiTrade arbitrage revenue metrics

01:00:00 Unique user index is increasing

01:01:00 CCL is the best way to attract new users

01:03:00 You can copy the strategies of other users

01:07:00 Sophisticated users will always refine their strategies

01:12:00 Are there plans to integrate tools into third-party systems?

01:14:00 Kenton: We should have one API

01:18:00 We are working together on this

01:19:00 POL DAO is being developed

01:22:00 AutoRujira update

01:25:00 Main differences between CCL and DCL

01:28:00 Getting more assets on THORChain is important

01:32:00 PragmaticMonkey's thoughts on the sudden end of Kujira

01:36:00 We are part of the same community

01:40:00 Merger discussion

01:43:00 How are the developer finances looking?

01:44:00 When is the next community gathering?

BubbiByte joins the podcast to discuss why depouch was built, the importance of simplicity, direct THORChain integrations, memoless swaps, decentralization, censorship, and the future of permissionless crypto.

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

00:04:00 BubbiByte begins

00:09:00 Why depouch was created

00:12:00 THORChain feels like the early days of crypto

00:13:00 The first principles of our community

00:14:00 Our ecosystem is special and unique

00:15:00 depouch was created with the goal of being simple and reliable

00:19:00 Creating the simplest and most reliable user experience

00:24:00 Kenton: The aggregator should support all pathways

00:28:00 Was it easy to directly integrate THORChain?

00:30:00 Direct integrations are preferable to APIs

00:32:00 depouch's marketing approach

00:33:00 It's much easier to build financial products in crypto

00:38:00 Marketing strategy: Search-term-based video content

00:39:00 Flagged address filtering is unavoidable

00:42:00 More interfaces are a net positive for the protocol

00:44:00 Let's get the word out about depouch

00:45:00 Do you support memoless swaps? (Coming soon)

00:46:00 Boone shout-out

00:47:00 App Layer support?

00:50:00 How do you make the interface as simple as possible?

00:53:00 depouch screen share

00:56:00 Slippage and "price protection" explained on STO

01:01:00 "THORChain and Maya Protocol are decentralized—other DEXs are not"

01:02:00 We must stand firm on our principles

01:06:00 Decentralized stablecoins are like perpetual motion (Kenton)

01:07:00 What is actually a DEX?

01:10:00 Is there anything else you'd like to mention?

01:15:00 Censorship concerns across Europe

01:18:00 Tyranny has been the norm

01:20:00 Is THORChain a PEX (Permissionless Exchange)?

In this episode, we discuss POL and how it will be distributed, a potential upcoming Bitcoin fork, a Monero update, ADR29, ADR31, AI tooling, and much more.

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

00:03:00 Marketing update

00:04:00 Need to create a new support ticket module. Trezor support added!

00:06:00 The three things needed to be listed on an index

00:08:00 Using AI to find scam sites

00:11:00 Chad starts — version 3.20 is being tested

00:12:00 Chad B started a code change to add a new asset to THORChain without a churn

00:14:00 Adding more chains leads to greater complexity

00:16:00 How can we add a new chain without churning?

00:17:00 How complex is it to add this capability?

00:18:00 Does a churn affect the timing of adding a new asset?

00:20:00 Audience question: How are new assets prioritized for THORChain?

00:22:00 StarSquid wants to add many more chains

00:23:00 AI compatibility with THORChain discussion

00:27:00 Community coding competition to add AI utility?

00:28:00 Dynamic fee discussion

00:30:00 Results from ShapeShift

00:31:00 COSMWASMMINBPS = 0 — arbitrage performance discussion

00:34:00 POL question: What gets funded first?

00:35:00 POL currently only purchases base gas assets

00:37:00 Stablecoins require a node vote

00:39:00 How will the protocol allocate funds — every churn or another method?

00:42:00 Bitcoin may go through two forks — how do we handle them?

00:44:00 Is it worth it? Sounds complicated!

00:46:00 Should liquidity from a new Bitcoin fork go to the treasury or POL?

00:52:00 There may be two separate Bitcoin forks!

00:56:00 Huginn update — network monitoring

01:00:00 New Huginn model

01:03:00 Opus 5 outperforms Fable on some benchmarks — AI models are becoming much more sophisticated

01:05:00 OpenAI and Anthropic may lose their moat as AI becomes a commodity

01:08:00 THORChain does not run on hopium

01:09:00 XMR discussion

01:11:00 XMR nuance — funds cannot be spent for 20 minutes

01:13:00 How does the 20-minute XMR delay affect high swap volume?

01:16:00 XMR backlog discussion

01:20:00 Hopefully only two more churns before XMR

01:23:00 We will set the price for XMR

01:26:00 ADR 29, TOR Anchors, and revenue sharing breakdown

01:30:00 It's an experiment — we're not sure if it will work!