THORChain Livestream Podcast

THORChain Livestream Podcast

by THORChain
Tech News
ADR29 & ADR31, Monero Update, Dynamic Fee Initial Results | Podcast #219
In this episode, we break down two governance proposals currently up for vote (ADR 29 and ADR 31), dive into revenue sharing and dynamic fees, and cover the latest updates across several upcoming chains. 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 Miradex shoutout 00:05:00 Marketing update 00:09:00 XMR publication strategy 00:10:00 Chad met someone with close ties to Trezor 00:11:00 Robinhood made its platform available for AI agents 00:12:00 AI compatibility with STO 00:13:00 Chad B talks about the conference 00:14:00 Chad B has someone who wants to meet Kenton for a documentary 00:17:00 THORDex.io may be a scam — be careful 00:19:00 THORWallet won a patent case over the THORChain brand 00:21:00 ADR 29 discussion (revenue sharing) 00:22:00 Some integrators prefer revenue sharing over affiliate fees 00:25:00 SwapKit revenue sharing looks promising and could drive more volume 00:27:00 More integration tools will make Randy's BD role easier 00:28:00 44 new partners want widget/API access 00:31:00 Analytics tab is ready for integrators to track generated revenue 00:33:00 Why API access is whitelisted 00:34:00 Integrators can run their own infrastructure instead of using the API 00:35:00 ADR 31 discussion 00:36:00 Formalizing the relationship helps integrators build a roadmap 00:37:00 Kenton explains why he changed his opinion on the app layer since ADR 20 00:39:00 Permissioned access is more secure 00:40:00 Merger discussion 00:43:00 Why merging would be complicated 00:45:00 The power of collaboration 00:54:00 When will the protocol return to normal? 00:55:00 XMR update — lots of edge cases and fixes 00:56:00 When is Zcash coming? 00:57:00 Once churn is working, Zcash can be added 00:58:00 Bittensor (TAO) update 01:00:00 Dynamic fee update — Symbiosis was disabled due to a bug 01:02:00 Screen share of Rayyk's affiliate page 01:04:00 90% of generated fees came from revenue sharing — huge volume increase 01:06:00 THORChain is performing much better with dynamic fees 01:07:00 Promising initial data 01:09:00 THORChain vs. Chainflip pool price comparison 01:11:00 App Layer design to improve price execution 01:14:00 Great job, Chad! 01:18:00 Signal vs. noise considerations with revenue sharing 01:20:00 SwapKit partnership could be much more effective 01:23:00 It will also drive more volume for SwapKit 01:27:00 Start simple and keep the variables limited 01:29:00 Deepen the Tron.USDT pool? (POL?) 01:31:00 How have Rapid Swaps been performing? Are we ready for version 3? 01:37:00 Devel's proposal and its synergy with dynamic fees 01:39:00 MEV concerns 01:43:00 A tip mechanism may address MEV concerns 01:49:00 Let's finish our current ADRs 01:52:00 Maximum effective bond — increase to 2 million? 01:54:00 Multi-node operators vs. single-node operators with a single vault 01:57:00 When can integrators expect revenue sharing? 02:00:00 Revenue sharing presents a lot of opportunity 02:04:00 AI agents and revenue sharing 02:06:00 Separate STO API interface for AI agents using JSON
E219
Jul 24, 2026
2:10:08
Liquidy ($LQDY) on THORChain App-Layer, Market Making and Swap Router | Podcast #218
In this podcast, Jandevman gives us an overview of what they do at Liquidy, how the project originated, and how they ended up building on 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: 00:00:00 Intro 00:02:00 Kenton update — Keplr should be working! More integrations are coming! 00:03:00 Affiliate page widget is ready for testing 00:04:00 Air Canada story 00:06:00 Jandevman introduction 00:10:00 What was so different about Kujira that attracted you to it? 00:13:00 Jandevman rebuilt everything from scratch 00:16:00 Treasury discussion — what were the assets? 00:17:00 What was MantaDAO? 00:19:00 Website walkthrough 00:21:00 Valuation breakdown — comparing Liquidy to TradFi 00:23:00 Kenton explains NAV and asks about redemptions 00:24:00 Financial reports and analytics breakdown 00:26:00 Expense breakdown 00:27:00 Revenue sources 00:29:00 Governance process breakdown 00:30:00 Simple majority or supermajority? 00:31:00 Veto power through a multisig 00:32:00 Bonk comparison 00:36:00 Raising external capital? 00:38:00 Growing the treasury 00:39:00 How does market making work? 00:43:00 Why isn't the LQDY token on the base layer? 00:45:00 How many wallets support secured assets? 00:47:00 Which other wallets should support secured assets? 00:48:00 What other financial primitives will LQDY be involved in? 00:52:00 Will LQDY get involved in lending? 00:55:00 What other assets will be acquired? 00:56:00 What about Auto Rujira? 00:57:00 Liquidity swap router breakdown 00:59:00 What's the difference between the swap router on Rujira and LQDY? 01:02:00 Comparing different liquidity pools 01:07:00 Will redacted functionality be available? 01:09:00 bRUNE breakdown 01:11:00 What is a good APY for users? 01:13:00 Will STO use the LQDY API? 01:15:00 Is there anything else you'd like to add? 01:18:00 Transparency discussion 01:19:00 Proposal discussion 01:22:00 Everything is on-chain 01:27:00 Thoughts on inflation 01:30:00 The model is beautifully simple 01:33:00 We need to do this again! 01:34:00 Conclusion
E218
Jul 18, 2026
1:36:04
Marketing Update, Devel’s Limit Order Proposal, XMR Update | Podcast #217
In this episode, the main conversation revolved around the limit order proposal, how it works, and its impact on arbitrage bots and Rujira. 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 Kenton starts 00:11:00 Volume is great! 00:13:00 Devel introduction 00:15:00 How did you hear about THORChain, Devel? 00:18:00 Why did you become a node operator as well as an arbitrageur? 00:20:00 It's been a long-standing belief that arbitrageurs are parasitic 00:23:00 Ratio between swap volume and arbitrage volume 00:25:00 Arbitrage volume is around 63% — does this mean THORChain is efficient? 00:27:00 Will Monero have a significant price discrepancy? 00:32:00 Could XMR become the XY curve of THORChain? 00:33:00 Devel's proposal: A new type of order to improve quotes and turn arbitrageurs into market makers 00:35:00 If the system works: Faster swaps, bigger swaps, and better price execution 00:37:00 They are not limit orders — they are limit swaps 00:38:00 Screen share 00:42:00 Devel explains the difference between limit orders and limit swaps 00:46:00 I want to achieve an improved quote endpoint 00:55:00 Chocolate bar 01:05:00 Boone and Devel join 01:06:00 Devel continues the conversation 01:13:00 Is this proposal additive or a replacement? 01:18:00 Devel continues breaking down the structure of his proposal 01:24:00 Boone adds clarity 01:28:00 Kenton asks about market making with exploited funds 01:34:00 Would this complement or compete with Rujira? 01:37:00 Boone: This does not conflict with the app layer 01:41:00 Clarifying Rujira's design versus Devel's base-layer proposal 01:47:00 Boone's maker/taker fee split idea 01:50:00 Devel is currently helping improve node operator operations 01:53:00 Quality-of-life improvements for new node operators 01:57:00 Dynamic fees and the boone.tools highlight 02:02:00 KPI dashboard for global volume 02:06:00 Quick XMR update (Boone)
E217
Jul 17, 2026
2:09:10
Vultisig Building for a THORChain, Rujira and Agentic Future | Podcast #216
In this episode, Denny and paaao discuss everything about Vultisig: what it is, its token, future plans, 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 Paaao starts 00:04:00 What is Vultisig? 00:05:00 37 chains supported — Vultisig was born from THORChain MPC/TSS technology 00:06:00 Every Vultisig user is a mini THORChain ecosystem 00:08:00 When will we have a proper referral fee on all swaps, not just THORChain? 00:12:00 What API is used? Is it OpenOcean for Solana meme coins? 00:13:00 Is there an MEV component? 00:14:00 How are swaps routed for maximum efficiency? 00:17:00 How is Vultisig positioned to take advantage of everything that's coming? 00:19:00 bRUNE support and the acquisition of Station Wallet 00:20:00 Station is being converted into a fully agentic wallet! 00:21:00 CCL on Rujira makes a great case for agentic use 00:23:00 As soon as THORChain came back, people started swapping again 00:25:00 MiCA consequences — people fleeing to self-custody 00:26:00 How do we capture these users? 00:28:00 Help us connect to communities, THORChads! Private keys are toxic! 00:30:00 We have a sophisticated SDK that we are hardening — Hermes Agent 00:31:00 Your agent can interact with other agents 00:33:00 Vultisig is a return to proper self-custody 00:35:00 Vultisig is building for the future 00:38:00 Our goal is to make the wallet super easy — please let us know what can be improved! 00:39:00 Self-hosting a Vultisig server could be powerful for businesses 00:42:00 Could the VULT token become a universal in-app gas token? 00:43:00 We'd need more centralized accounting — interesting idea 00:45:00 We don't want to mix AI with wallet setup to reduce attack vectors 00:47:00 Everyone can use Vultisig however they want, but self-hosting means maintaining your own app 00:47:30 Vultisig Marketplace — developers can create automations 00:48:00 For the first time, you can use custodial infrastructure to DCA through automated workflows 00:49:00 We are focusing primarily on the agentic side rather than the marketplace 00:51:00 Fee percentage question 00:52:00 Is Vultisig hiring? 00:53:00 Everyone is welcome to join Discord and open a PR, but we're not hiring full-time 00:54:00 How safe are AI agents with Vultisig? 00:55:00 We are focused on guardrails and multiple security layers for AI agents 00:57:00 AI agents have been our biggest challenge 00:58:00 Finding the balance between AI capabilities and guardrails is difficult 01:00:00 Rujira support is coming soon! 01:01:00 What makes you so excited about Rujira? 01:02:00 Paaao loves lending, borrowing, and the liquidation engine 01:03:00 The cross-chain capabilities are truly unique 01:04:00 The connection between Rujira and Vultisig 01:06:00 When XMR? Paaao: We're exploring how to add it 01:08:00 MPC cryptography is difficult because we use DKLS 01:09:00 MiCA regulations complicate the situation 01:11:00 Is there anything else you'd like to talk about? 01:12:00 Shout-out to the OGs: Try Vultisig again! It's changed a lot — send us feedback! 01:13:00 Shared vaults for families, trust funds, and much more 01:14:00 We want to improve communication — app releases every week 01:16:00 Quai recommendation 01:17:00 THORChain is a cockroach!
E216
Jul 11, 2026
1:22:01
Churn Update, Formalized ADR Process, Protocol Redundancy | Podcast #215
In this episode, we provide a short business development update, cover the team dynamics between Maya and THORChain, discuss how to streamline and improve the ADR process, and finish off with a short Moca update. 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 Randy BD update: ShapeShift and Symbiosis 00:07:00 Aaluxx breaks down how Maya Protocol and THORChain devs are allocated 00:10:00 Some work is shared between protocols 00:11:00 Was Maya Protocol affected by the same exploit as THORChain? 00:16:00 Learning opportunities from the exploit 00:18:00 Aaluxx talks about the moment the exploit happened 00:22:00 Version 3.20 will be pushed early — meeting tomorrow 00:25:00 Zcash update: Timeline? 00:29:00 Eric asks how all the developers coordinate 00:32:00 Anyone can contribute to GitLab 00:33:00 What did the devs do during the slow moments around Step 5? 00:36:00 What can we do to improve the ADR process? 00:39:00 ADR system design discussion 00:42:00 ADRs should not be gatekept 00:43:00 Everyone is working as hard as possible — bandwidth is tight 00:44:00 ADR numbers could be granted through Make Relay 00:45:00 You do not need an ADR to submit code to GitLab 00:47:00 Anything else you'd like to mention, Aaluxx? 00:48:00 "I am not a developer" — Aaluxx 00:51:00 MOCA going live by next Monday?
E215
Jul 10, 2026
54:16
BazaarSwap Aggregator Integrating THORChain | Podcast #214
In this episode, we talk about DEX aggregation with Nikita and Flynn, who showcase BazaarSwap and everything they have built. 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 Kenton update 00:04:00 Flynn introduction 00:05:00 Flynn came into crypto looking for privacy and better ways to manage money 00:06:00 Nikita starts 00:08:00 Nikita talks about the difficulties of crypto and simplifying the experience 00:09:00 BazaarSwap talks about the convenience of their DEX aggregator 00:12:00 BazaarSwap screen share begins 00:14:00 BazaarSwap demonstration 00:16:00 Rate comparison and accuracy 00:18:00 Axelar wrapped asset rugging event 00:20:00 Swap execution metrics 00:21:00 Nikita talks about the benefits of DEX aggregator unification with AI 00:25:00 Monero is supported and will be ready 00:27:00 TON discussion and gold derivatives 00:29:00 Wallet support for TON 00:31:00 Nikita: More pathways are coming 00:33:00 We are excited about TON because of all the possible connections and momentum from recent announcements 00:34:00 Telegram is the #1 place for crypto because it has a built-in wallet 00:36:00 Do you track quote accuracy and execution? 00:38:00 Nikita: We try to provide multiple metrics for users 00:40:00 Nikita says he has worked on many products, and there has always been some degree of price differential 00:41:00 ETH to BTC swap 00:44:00 When THORChain adds TON, many new possibilities open up 00:46:00 Multiple execution parameters for swappers (cheapest, fastest, etc.) 00:48:00 THORChain is superior to everything else out there 00:49:00 Why did we choose to integrate THORChain? They maintained the ethos! 00:53:00 THORChain is more optimized for handling large swaps 01:00:00 Swap logic breakdown: liquidity versus the router 01:03:00 THORChain explanation 01:05:00 How do you get into crypto from fiat? 01:07:00 Rujira capabilities discussion 01:11:00 Price oracle exploit discussion and comparison on BazaarSwap 01:16:00 There are lots of shady things going on 01:17:00 You have no way of knowing if brokers are doing shady things 01:18:00 Kenton: Is your slippage related to price impact? 01:23:00 XMR demonstration was done on his birthday 01:26:00 OpenUSD is the next attempt at a CBDC 01:28:00 There is a competition right now to capture the infrastructure 01:32:00 Latest information on the Clarity Act 01:37:00 Privacy is not the default on THORChain, but obfuscation is impossible 01:39:00 THORChain is decentralized and permissionless 01:42:00 THORChain is the solution 01:50:00 Nikita's final thoughts 01:51:00 Kenton outro 01:52:00 Is there a token related to BazaarSwap? 01:54:00 Fees? (They do not charge additional fees; it varies by provider.) 01:59:00 What Flynn loves about THORChain
E214
Jul 5, 2026
2:04:43
THORChain Biz Dev Update, Revenue Share, Free Stable Swaps, Monero Update | Podcast #213
In this episode, we provide updates on biz dev, revenue sharing, free stable swaps, and Monero, as well as a strategy to onboard TradFi. 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 Randy's update 00:04:00 Randy wants to know who we should integrate! Let him know! 00:05:00 New ERC-20 pools are coming! 00:08:00 Chad starts. Dynamic fee model is live for Symbiosis 00:09:00 Symbiosis UI bug! 00:10:00 Monitoring the code to make sure the behavior and results are what we intended 00:13:00 New BPS idea for price execution 00:15:00 Chad will methodically go through every integration to identify optimizations 00:18:00 We are ready to look for another interface to test it on 00:19:00 XMR update: We broke some things when patching Serai code 00:20:00 Churning has been struggling, so we haven't added Zcash 00:22:00 We could generate a Zcash address with the pubkey! 00:24:00 Would being in the middle of a churn affect our ability to add a chain? 00:25:00 Update on opt-in chain clients 00:26:00 3.19.4 timeframe so XMR can get added? 00:28:00 Audience question: AI/THORKit package to run a node 00:32:00 AI alerting tools 00:36:00 Randy: Super excited for AI agents interacting with THORChain 00:38:00 CEXs are done when it comes to AI agents and can't compete! 00:40:00 Chad B is interested in helping projects add AI agent utility 00:42:00 Randy: EU euro (stable-to-stable) swap volume potential 00:44:00 THORChain's permissionless ethos will win 00:46:00 Revenue share discussion — where do we stand? 00:48:00 We will make integrators more competitive with revenue sharing! 00:53:00 Bittensor subnet AI model capability? 00:59:00 Chad's list of upcoming features 01:02:00 POL Economic Mimir needs to be changed to Operational 01:05:00 Randy: How do I get TradFi to use THORChain? 01:07:00 Randy: We must maintain the moat of our ethos 01:09:00 Chad B: We are the DeFi OGs. Erik Voorhees' ethos with Venice is just like THORChain 01:13:00 We will never surrender the moat of our ethos 01:15:00 Stocks on THORChain? 01:18:00 XMR update 01:22:00 XMR will be the most consequential chain client
E213
Jul 3, 2026
1:24:29
Boone Discusses THORChain ADR29 | Podcast #212
Since we had a technical problem with Amir, Boone joined the podcast and discussed ADR 29. 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.
E212
Jun 29, 2026
1:28:48
THORChain Resumes Trading, AI & Energy Consumption, Protocol Owned Liquidity | Podcast #211
In this episode, we provide a marketing update, discuss AI & energy consumption, and finish with a discussion on 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 00:05:00 Marketing update 00:07:00 Reach out to communities about adding ERC-20s? Easy to do! 00:08:00 Working on Keplr Wallet 00:09:00 Platform to hire KOLs 00:11:00 KOL platform breakdown 00:13:00 Chad B: May be a bot dream 00:15:00 KOL drama 00:19:00 Forewarning for drama 00:20:00 Chad's talk about Monerotopia 00:23:00 Someone who is into XMR will probably understand the mission 00:27:00 Chad B: The attack we suffered is very hard to recover from — but we have! 00:29:00 New version is coming! Fix for Solana so we can churn and XMR 00:32:00 Kenton: The cynical view doesn't make sense 00:33:00 Failure should be expected 00:34:00 TSS will be open-sourced, probably mid-July 00:36:00 Huginn's code auditing is surprisingly good 00:37:00 Moving to DKLS is a priority 00:39:00 The idea is to move to FROST and DKLS 00:41:00 How we would transition cryptographies 00:43:00 We need to find a new version of FROST if we want to add it to THORChain 00:44:00 Multisig on each vault — combining cryptographies. Still entertaining that idea? 00:47:00 DKLS would be first if any changes were going to be made 00:48:00 Question: Can we add AI payment rails and support for precious metal derivatives? 00:51:00 agentsfirst.dev analytics breakdown 00:57:00 Delegation is so hard for startups 00:59:00 These days are still early for AI 01:01:00 Will AI be a bunch of specialist models or a more general model? 01:04:00 Energy consumption versus efficiency of AI 01:06:00 Chad B is bullish when it comes to increased electricity usage 01:09:00 Energy scale is beyond comprehension 01:13:00 Life arose so quickly when Earth was formed 01:17:00 Planet talk — geeking out 01:21:00 Bringing it back to THORChain, THORChain is a good foundation for a better system 01:23:00 When XMR goes live, Kenton will wait about a month before really pushing it out 01:26:00 What happens post-churn when it comes to POL? 01:30:00 Kenton acknowledges Boone for getting the math incorrect 01:33:00 Boone joins and says it is Economic Mimir 01:34:00 Increasing BPs fee is probably the move (Boone) 01:36:00 Kenton gives the case for POL advantages 01:37:00 Kenton floats 25% to POL 01:39:00 POL is a burn, technically 01:42:00 Burn conversation regarding sell pressure 01:46:00 POL conversation continues 01:49:00 POL is an asset, not a liability 01:52:00 New hat!! 01:53:00 POL pitch 01:56:00 POL also buys and burns their asset too 01:58:00 Per-asset minBPS idea (Boone) 02:02:00 Anything else? Direct ERC-20 memoless, TAO 3.20 02:03:00 Reserve hard cap discussion 02:06:00 Reserve income and dispersed
E211
Jun 26, 2026
2:10:55
Fernando from xolosArmy & Tonalli Wallet | eCash ($XEC) Pool on THORChain | Podcast #210
xolosArmy is a decentralized community and project built around eCash (XEC) cryptocurrency. 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 Diving talk 00:07:00 Getting on THORChain — what it takes 00:12:00 When you are on THORChain, you have access to the most wallets — hundreds of millions! 00:14:00 Only have a token on THORChain? 00:16:00 What would happen if THORChain was the central point of liquidity? 00:21:00 Fernando starts 00:22:00 Fiat is an instrument of control — BTC solved this 00:24:00 Use THORChain for sovereign liquidity and add connections to the rest of the world 00:25:00 Fork of Bitcoin Cash 00:26:00 We have instant finality — sub-second 00:27:00 Our tech is deterministic from beginning to end 00:29:00 XolosArmy is a project working on eCash — they want to bring the ethos of BCH to eCash 00:31:00 THORChain is much better than CEXs 00:32:00 eCash is a fork of BCH 00:34:00 eCash is not a stablecoin 00:37:00 eCash screen share 00:40:00 Throughput of eCash? 00:43:00 Subnets discussion 00:44:00 Is eCash similar to TAO when it comes to subnets? 00:46:00 eCash subnets explained 00:48:00 What is the cost of an eCash daemon? 00:51:00 What is the vision for eCash getting on THORChain? 00:54:00 We have NFTs and utilize IPFS 00:56:00 XEC can be connected to fiat 00:59:00 We have a $100 million market cap 01:00:00 StarSquid says the chain client is ready 01:01:00 Kenton explains adding liquidity to THORChain 01:04:00 More liquidity seeding discussion 01:08:00 $50k is a good target 01:09:00 Is it on chainnet?
E210
Jun 21, 2026
1:21:22
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