Exploring Thorchain's Future: A Dive into Key Dashboards and Metrics
Thorchain, a decentralized liquidity network, continues to evolve, and with various metrics and dashboards available, keeping track of its performance can be daunting yet rewarding. In this article, we will identify some crucial dashboards to reference alongside a roadmap shared by Erer Adonis, detailing the six main objectives for Thorchain’s upcoming developments. Each section will explore relevant dashboards that shed light on the platform's metrics and potential growth.
The initial goal mentioned is to "deleverage the base layer" that aims to simplify operations, making Thorchain simpler, more reliable, and focused primarily on cost-effective swaps while also increasing Total Value Locked (TVL) in the protocol.
A pertinent dashboard is the Lending Dashboard from NRS. Although loan services are currently closed, historical data indicates that borrowing led to a reduction of Rune token supply. Paying back these loans leads to the tokens being potentially reminted. If loans were to come due simultaneously, estimates suggest that an influx of approximately 30 million Rune tokens could enter the market, influencing its price accordingly.
Additionally, the Savers Product, which allows users to earn yield by depositing assets like Bitcoin and Ethereum, currently holds around $117 million. Understanding potential sell-offs from Savers is essential, and worst-case scenarios calculated indicate around 10 million Rune tokens could be sold if conditions stabilized immediately.
The next priority is to "revive the LP experience" through enhanced yields and eradicating 0% synth utilization. Instead of users finding profit through liquidations, Thorchain aims to facilitate active yields where liquidity providers can earn Rune independently. Dashboards like Rune.tools earnings highlight that LPs are currently reaping considerable rewards, making liquidity provision an attractive opportunity.
Moreover, offering flexibility for providers in earning fees can also sustain interest and involvement, and monthly data shows LPs earning a significantly higher APY than bond holders, encouraging liquidity growth.
A significant development on the horizon is the launch of the Rira Network, expected around December 9, which is pivotal for the new generation of decentralized finance (DeFi) applications. As an update to the Cosmos SDK progresses, this will enable newer, more efficient integrations, pushing Thorchain's general capabilities forward.
Volume and Chain Integrations: Driving Growth
Next on the roadmap involves focusing on adding volume and chain integrations to enhance Thorchain's usability. Recent insights from ThorYield and other dashboards track the uptick in volume, which suggests a promising trend. A significant spike started on October 3, 2023, indicating that streaming swaps may be drawing in larger wallets, contributing to stability and higher transaction volume.
The potential for integrations appears expansive, with plans to add multiple chains in the coming year to diversify services. Platforms like Trust Wallet, Thor Swap, and Ledger Live have begun to showcase the rising volumes linked to Thorchain, reflecting its growing acceptance in the broader DeFi sector.
Financial Health: The Balance of Revenue and Expenses
Finally, understanding the economic health of Thorchain is vital. Recent analyses indicate that the revenue generated is beginning to outpace expenses, a rare scenario among decentralized platforms. Monthly insights reveal slight transitions where fees are surpassing operational costs, laying a solid foundation for sustainable growth.
Engaging with these dashboards not only amplifies comprehension of Thorchain's performance but also empowers users to foresee developments that may drive investment potential. The established goals, benchmarked with relevant data metrics, lay a blueprint not just for stakeholders but the broader community interested in the unfolding realm of decentralized finance.
If you're intrigued and want to delve deeper, Thorchain University offers a comprehensive educational experience enabling participants to earn tokens while learning. As the landscape develops, following these data points will become increasingly essential for stakeholders at every level of engagement.
Thank you for taking the time to explore the state of Thorchain and its bright prospects. Don't forget to stay connected, engage with the community, and catch updates as they unfold!
Part 1/8:
Exploring Thorchain's Future: A Dive into Key Dashboards and Metrics
Thorchain, a decentralized liquidity network, continues to evolve, and with various metrics and dashboards available, keeping track of its performance can be daunting yet rewarding. In this article, we will identify some crucial dashboards to reference alongside a roadmap shared by Erer Adonis, detailing the six main objectives for Thorchain’s upcoming developments. Each section will explore relevant dashboards that shed light on the platform's metrics and potential growth.
Deleveraging the Base Layer: Focus on Simplicity
Part 2/8:
The initial goal mentioned is to "deleverage the base layer" that aims to simplify operations, making Thorchain simpler, more reliable, and focused primarily on cost-effective swaps while also increasing Total Value Locked (TVL) in the protocol.
A pertinent dashboard is the Lending Dashboard from NRS. Although loan services are currently closed, historical data indicates that borrowing led to a reduction of Rune token supply. Paying back these loans leads to the tokens being potentially reminted. If loans were to come due simultaneously, estimates suggest that an influx of approximately 30 million Rune tokens could enter the market, influencing its price accordingly.
Part 3/8:
Additionally, the Savers Product, which allows users to earn yield by depositing assets like Bitcoin and Ethereum, currently holds around $117 million. Understanding potential sell-offs from Savers is essential, and worst-case scenarios calculated indicate around 10 million Rune tokens could be sold if conditions stabilized immediately.
Reviving the Liquidity Provider Experience
Part 4/8:
The next priority is to "revive the LP experience" through enhanced yields and eradicating 0% synth utilization. Instead of users finding profit through liquidations, Thorchain aims to facilitate active yields where liquidity providers can earn Rune independently. Dashboards like Rune.tools earnings highlight that LPs are currently reaping considerable rewards, making liquidity provision an attractive opportunity.
Moreover, offering flexibility for providers in earning fees can also sustain interest and involvement, and monthly data shows LPs earning a significantly higher APY than bond holders, encouraging liquidity growth.
Upcoming Rira Network and Protocol Integrations
Part 5/8:
A significant development on the horizon is the launch of the Rira Network, expected around December 9, which is pivotal for the new generation of decentralized finance (DeFi) applications. As an update to the Cosmos SDK progresses, this will enable newer, more efficient integrations, pushing Thorchain's general capabilities forward.
Volume and Chain Integrations: Driving Growth
Next on the roadmap involves focusing on adding volume and chain integrations to enhance Thorchain's usability. Recent insights from ThorYield and other dashboards track the uptick in volume, which suggests a promising trend. A significant spike started on October 3, 2023, indicating that streaming swaps may be drawing in larger wallets, contributing to stability and higher transaction volume.
Part 6/8:
The potential for integrations appears expansive, with plans to add multiple chains in the coming year to diversify services. Platforms like Trust Wallet, Thor Swap, and Ledger Live have begun to showcase the rising volumes linked to Thorchain, reflecting its growing acceptance in the broader DeFi sector.
Financial Health: The Balance of Revenue and Expenses
Finally, understanding the economic health of Thorchain is vital. Recent analyses indicate that the revenue generated is beginning to outpace expenses, a rare scenario among decentralized platforms. Monthly insights reveal slight transitions where fees are surpassing operational costs, laying a solid foundation for sustainable growth.
Conclusion: The Path Forward
Part 7/8:
Engaging with these dashboards not only amplifies comprehension of Thorchain's performance but also empowers users to foresee developments that may drive investment potential. The established goals, benchmarked with relevant data metrics, lay a blueprint not just for stakeholders but the broader community interested in the unfolding realm of decentralized finance.
If you're intrigued and want to delve deeper, Thorchain University offers a comprehensive educational experience enabling participants to earn tokens while learning. As the landscape develops, following these data points will become increasingly essential for stakeholders at every level of engagement.
Part 8/8:
Thank you for taking the time to explore the state of Thorchain and its bright prospects. Don't forget to stay connected, engage with the community, and catch updates as they unfold!