2024

Bifrost

THORChain

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/thorchain-announces-2023-goals-and-roadmap/" data-wpel-link="internal">THORChain Announces 2023 Goals and Roadmap</a><br></p>
<p style="text-align: justify">January and February represent an important period for setting annual goals for cryptocurrency projects. Big targets can lead to positive price outcomes as target dates approach. The THORChain team also shared their goals for the new year and a review of 2023 today.</p> 
<h2 style="text-align: justify" id="thorchain-roadmap">THORChain Roadmap</h2> 
<p style="text-align: justify">Sharing data for the last quarter, the team reported that the transaction volume reached 12.62 billion dollars in USD, representing a 530% increase. Total liquidity climbed from 128 million dollars to 339 million dollars, a 264% increase. Mimir V2 was implemented in the last three months of the year but has not yet reached the desired level of adoption.</p> 
<p style="text-align: justify">Swapper Clout was a new feature that allowed transactions on THORChain to occur much faster without significant delays and was launched during the same period. Every address interacting with THORChain is given a Clout Score, defined as the number of RUNE spent on liquidity fees through their swaps. The more you pay in liquidity fees, the higher your clout score. When you make a swap, if the swap amount is below your clout score, your outgoing amount is sent instantly instead of being delayed for up to an hour. The network will reduce the total amount held in the outgoing queue by allowing large arbitrators to swap very quickly, which will shorten waiting times for everyone else trying to swap.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-306508 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/ThorChain.png" alt="" width="1091" height="443"></p> 
<p style="text-align: justify">Two changes were made in Protocol Owned Liquidity (POL). First, the thresholds for adding and withdrawing POL were changed. The protocol will continue to add POL until the synthesis usage for the respective pool falls below 50%. The threshold for removing POL was lowered when the synthesis usage fell below 10% of the pool depth.</p> 
<h3 style="text-align: justify" id="2024-goals">2024 Goals</h3> 
<ul style="text-align: justify"> 
 <li>Memoless transactions will be a new way to “save” a note before making a swap, so a swap or other transaction can be made without sending a note.</li> 
 <li>Mimir V2 has been added to THORChain but is not yet fully adopted. Progress will be made towards transitioning to Mimir V2 for increased decentralization and security, culminating in the burning of admin-mimir keys for planned obsolescence.</li> 
 <li>Bifrost will be allowed to send multiple outputs in a single transaction. This change will significantly increase TSS efficiency and also reduce user transaction costs due to significantly fewer transactions being sent.</li> 
 <li>Limited orders on THORChain will allow users to place orders that will automatically execute with the AMM as the counterparty when a specific price target is reached.</li> 
 <li>If accepted, this will change the collateralization ratio of loans to always be 200% (50% LTV).</li> 
</ul> 
<p style="text-align: justify">Apart from this, there is no goal directly affecting the token economy that will impact the price. However, these updates may yield positive results in due time as they will increase network efficiency, albeit weakly affecting the price.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/thorchain-announces-2023-goals-and-roadmap/" data-wpel-link="internal">THORChain Announces 2023 Goals and Roadmap</a></h5>

THORChain Announces 2023 Goals and Roadmap

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