Decentralized Cross-Chain Liquidity Protocol with Chad Barraford

The DIVI Crypto Podcast

In today's episode of the DIVI Crypto Podcast, we are talking with Chad Barraford, the Technical lead at THORChain. THORChain’s mission is to decentralize cryptocurrency liquidity via THORNodes and ecosystem products. The access to the native and cross-chain liquidity is open to anyone. Rune powers the THORChain ecosystem, providing the economic incentives required to secure the network. Rune aims for Deterministic Value. With this in mind, if more than 80% of circulating RUNE is locked in THORChain liquidity pools, via economical design RUNE's market cap should be a minimum 3 times the value of all non-RUNE assets locked into THORChain liquidity pools. BTC, ETH, BNB, BCH, LTC are currently supported on THORChain. Initially, RUNE was issued on BNB chain, so most liquidity for RUNE on exchanges as BNB.RUNE. ETH.RUNE was issued in order to provision liquidity on Sushi Swap. Native THOR.RUNE is issued on its own chain, and users who my have BNB.RUNE or ETH.RUNE can convert them to native THOR.RUNE via THORChain interfaces. In order to participate in THORChain liquidity pools, one must use the native THOR.RUNE. One may be able to enter liquidity pooling positions only with BTC, ETH, BNB, LTC or BCH. In these circumstances, the network automatically sells 50% of these assets for THOR.RUNE. Upon withdrawal, the interface will also sell the THOR.RUNE back into the original asset. THORChain is a decentralized cross-chain liquidity protocol based on Tendermint and Cosmos-SDK, utilizing Threshold Signature Scemes. THORChain does not wrap nor peg assets. Instead, it decides how= to move them in response to user actions. THORChain observes user deposits to vaults, executes business logic, and processes outbound transactions, ensuring the entire process is byzantine-fault-tolerant. A key objective of THORChain is to resist centralization and capture, while also allowing for cross-chain liquidity. THORChain only secures the assets in its vaults, providing economic guarantees that the assets are safe. There are four key roles in the system: Liquidity providers that add liquidity to pools, to earn fees and rewards Swappers using the liquidity to swap assets ad-hoc, paying fees Traders monitor pools and rebalance continually, paying fees but with the intent to earn a profit. Node Operators provide a bond and are paid to secure the system The design goal of THORChain is for anyone to join the network with the required funds, being permissionless, and to be anonymous, yet still be secure. The high-churn network ensures that it is censorship-resistant, evades capture, and resists centralization. Site: https://thorchain.org/ Medium: https://medium.com/thorchain/ Twitter: https://twitter.com/thorchain_org Facebook: https://www.facebook.com/THORChain-Protocol-101834845348223/ Instagram: https://www.instagram.com/thorofficial/ -- DIVI is creating the world's first closed-loop, vertically-integrated cryptocurrency ecosystem. Much like Apple's ecosystem is anchored by iCloud, the DIVI Project blockchain serves as the core of the DIVI network of technologies. Thanks to a keen understanding of the divide that separates the mainstream from the crypto world, the DIVI team is able to create solutions to the industry's biggest problem: adoption by non-technical users. DIVI's user-friendly, one-click solutions aim to bring blockchain-based payments into modernity with great UX. In this podcast, we will cover all aspects of cryptocurrency, hot topics, and technology as worldwide adoption grows.