Is THORChain (RUNE) Undervalued? with Erik Voorhees and Chad Barraford

What is THORChain? Join David as we explore the liquidity protocol that allows swapping between BTC, ETH, and more without intermediaries.
Chad Barraford is a core developer at THORChain, and Erik Voorhees is a Bankless staple who has found a deep resonance with THORChain's mission.
Is THORChain helping build the Bankless future? Come find out.
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TIMESTAMPS
0:00 Intro
3:30 What is Thorchain
7:10 Erik and Shapeshift
10:20 How it Works
13:40 Is this a Bridge?
17:00 Staking and Security
20:00 Rune
28:45 Bitcoin and Ethereum
32:20 Latency
36:00 The Bull Case for Thorchain
38:40 Specialization
40:40 The Roadmap and Community
44:00 Get Involved
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RESOURCES
Erik Voorhees:
x.com/ErikVoorhees?s=20
Chad Barraford
x.com/CBarraford?s=20
THORChain Website
thorchain.org/
THORChain Twitter
/ thorchain
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Not financial or tax advice. See our investment disclosures here:
www.bankless.com/disclosures⁠

[@Bankless]

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[@stanleygodspeed4009]

I have to say Thorchain looks fire. They are going to be No.1 DEX in upcoming bullrun if that's how efficient they are now

[@THORChainLPUniversity]

You're damn right.

[@TravisFont]

Their branding is shit, so unfortunately no. They're competitive for sure.

[@downwindlee5950]

Is it really a dex if the devs are in control, can block, disable and freeze accounts as well as the whole exchange? I guess there are different levels of decentralization

[@brahdha1335]

The Devs can't do anything to your account or transaction. Even the node operators if they had unanimity, they couldn't touch your account as you have custody of that at all times aside from the few minutes or secs of the transaction time. When they only accept or reject your transaction

[@stanleygodspeed4009]

@@TravisFont i don't think they need branding, if they are just integrating with your favourite front ends. You will use metamask, 1 inch, trustswap, ledger and have no clue thorchain works underneath. And those frontends worry about branding, and making the most from affiliate fees of thorchain. BTC has no branding and people use it, it's gonna be the same.

[@shivkumar21]

There is something about how Erik Voorhees explains complex things with so much clarity!

[@eleusys]

Yeah i love how he re-iterated the complex bits each time ❤

[@bearwolffish]

He has that stoic wisdom for sure.

[@encrypt3dbr0k3r]

This is the single most undervalued opportunity in the ALT coin space since Ethereum launched in 2015

[@splitfinger7719]

Shoutout to Eric rolling out of bed straight to the interview lol

[@edwardmclean5373]

And shout-out to Chad for taking a shower! 😂

[@alexanderm6037]

Thorchain is a technological miracle. Will soon be #1 exchange period.

[@justmythoughts2786]

😂

[@itsmartin9202]

RUNE is going parabolic in 2024/25, im glad i bought around 1$ ✌

[@surfcoach]

Wow what a project. Probably biggest dex very soon. Thorchain seems like 0-1 innovation when the world needed it the most. Financial freedom, yield and connection blockchains all in a decentralized way. 🤯

[@chriswalth]

But how does it differ from GMX for example?

[@insanecrypto7422]

Best thorchain video so far. No hyping no moons no rockets , big Brains talking :) I salute you for this content and just subscribed.

[@dr.mirano]

The fact that I trust Erik Voorhees more than Janet Yellen says it all

[@brahdha1335]

What a fantastic project to follow, excited by all the things coming in the next months

[@az6640]

It surprises me that very few people know about thorchain

[@MajorETX]

One of the best dex/projects in the world

[@pithra]

Concise and informative. Well done!!

[@rrafaelpaz]

Thorchain is really revolutionary piece of technology!

[@Patriotsounds]

Excellent interview!!!!

[@yes2crypto]

39:15 missed marketing opportunity: “Single ASSet Yield” should be called SASSY

[@Molecularjewelry]

one of the better episodes- great guests - more like this please

[@Patriotsounds]

Thank you Bankless!!!!

[@Requinix17]

Thorchain is going to melt faces. Project of the year

[@DigitalCashNetwork]

Excellent show, thanks for finally giving light to one of the very biggest and best hopes for crypto and decentralization moving forward.

[@johannegoutier5675]

Fantastic interview. Well done Bankless !

[@andrewrafalowitz7023]

Great interview chad & eric

[@mattstrelecki]

Can you add that "Introduction to THORChain for Bitcoiners" article from Erik you mentioned please @bankless?

[@JohnDobbertin]

Been using Thorchain for a few months now and it's dooooope. Savers rates are good. 🤙

[@johnmutch4069]

great vid, great project, big fan of Shapeshift also as I received some great support from them in the past.

[@Birch2049]

Good to see interviews with those building beyond Ethereum. There’s a lot happening out there that deserves attention and coverage.

[@lherfel]

imagine how big thorchain would be already without initial hiccups : ) Awesome episode. Cheers

[@KevinSoell]

This is so awsome!! 🔥🔥

[@Aloha7598]

Clear a lot of things up for me. Thanks for this interview.

[@1312Mork2]

wow this seems really strong

[@Ray-ld3mt]

Top Project!

[@miskoala12322]

Great interview guys, great interview. Great guests, kudos for the quality of the podcast David. Mind doing one podcast with Aaluxx from Maya Protocol DEX which is a friendly fork of THORChain. Keep it going....🔝🔝🔝

[@horaciolyon]

Another step towards popping your bubble... congrats!

[@starry1m]

Fantastic episode! Is the concept of a 'stateless bridge' just as problematic as a regular bridge with wrapped assets?

[@imajinl.]

I feel like it would be nice if you could’ve dived a little deeper into the tech behind streaming swaps, no IL yield, the lending mechs, etc. But great episode overall!

[@bearwolffish]

30:35 ye that is wild for amm

[@battyroy3894]

Will it support Pulsechain? I know Eric hate RH.

[@spare75]

What are the implication of RUNE Vs chainlink CCIP ? can CCIP offer what THORChain is offering ?

[@davin4720]

Love THORChain and use Kraken too, but love the fact that this video about the ultimate DEX is indirectly sponsored by a CEX 🤣

[@pizzadoe7922]

"Bankless don't trust bridges because different sets of trust assumptions are involved." But Bankless encourages users to use ETH L2s that do use bridges and have different trust assumptions from the main net. This is kind of hypocrisy why ppl view this channel with growing suspicion. Crypto media would be more credible if a uniform metric is applied to all projects, not taking favoritism for particular bag positions.

[@pookiegrindtime9708]

Crazy how the interview ends when they call out uniswap

[@FernandPors]

Nice interview. Would have liked to hear whether Thorchain is looking at supporting more coins than they currently do (they don't support Solana for example)

[@Mike_2904]

Great episode! Thorchain is a fundamentally and very necessary project in DeFi infrastructure. This video is a must-watch for anyone interested in understanding Thorchain, the $RUNE token and its impact on the crypto space. It's an eye-opener and a great resource for both beginners and seasoned crypto enthusiasts. Definitely a valuable addition to my cryptocurrency learning journey!

[@chriswalth]

How does Thorchain differ from GMX which was even advertised in this episode?

[@Kozy-ns4qh]

!!!!!!!!!! Thorchain with Rune is a like gem last chance to be incognito in this wird world !!!!!!!!!!

[@killerjoules4080]

I am sad to say the UI has been a dissapointing experience for me. Simply because it is so slow with numerous occasions where I have not managed to connect a wallet or sync a balance. I hope it improves as the concept is compelling.

[@rebeccaconaway4533]

Awesome ❣️

[@droningonagainandagain5837]

Sounds alot like Liquid Loans on PulseChain... Hey always good to have a plan B.

[@alphacic9806]

Which coins have the best ecosystem?

[@0xHappyProfit]

RUNE + CACAO easy 100x next cycle and i aint even joking

[@SpareKingdom]

Tried it. Works great.

[@busymountain]

Please have these guys back for an update

[@AlexlikesRamen]

is he related to silvester stalone ?

[@SpaceTimeTravellerEarth]

this is bold. i love it.

[@zemedkunkumsa5619]

Can I send bitcoin metamask to binance wallet

[@RoyReyes]

GROK n Roll guys.. 🌱

[@SpaceTimeTravellerEarth]

Interchain Attestations (EAS...) combined with the Thor Chain approach could rock even more... imo

[@peternee9641]

Thorchain = no brainer

[@Bruhfinally]

How is wanchain or others not extremely similar if not same?

[@DrBerns]

Wait, I didn’t think Thorchain was going to add monero…???

[@eturnol1]

The most impressive thing about Thorchain is the RUNE economics. They did a good job with that. As a cross chain protocol, Chainlink CCIP will wipe the floor with Thorchain

[@hosam2011]

what Chainlink CCIP has to do with thorchain ? any educational material or YT video? thanks

[@bleujaun]

Now that REN is gone, Thorchains biggest use case is washing Bitcoin. As long as that holds true, Thorchain will do well

[@Deroxated]

Wow Sly Stallone's son is in crypto ?

[@ton1277]

😂 had the same thought!

[@rationalevidence9095]

i didn't know sylvester stallone's son could code???!!!

[@ruliuli440]

Since january 2023 until december 2023 I get profit 9x. Thanks Thorchain. I buy more for prepare bull run parabolic April 2024. Ganbate kudasai thorchain kun.

[@czero18]

Where does the value accrue?

[@stanleygodspeed4009]

trading fees

[@cajum24]

Same way as binance or coinbase, from the fees paid by people trading on the exchange

[@ARCHERDAVE1]

If its a machine, its subject to regulation. It needs maintenance and bug fixes and security updates. Whoever maintains the machine is subject to regulation. Right?

[@sid1920]

How do you regulate anonimous Devs & nodes?

[@ARCHERDAVE1]

@@sid1920 Chad Barraford and Erik Vorhees arent anonymous. If it gets big enough, none of these people are anonymous. This works only as long as regulators don't get a hard on for them and everyone involved.

[@marlonjones.bullsondablock3145]

It's obvious you still have little understanding of blockchains and virtual machines.....but take it from a bigger brain it can't be regulated....and do some real homework if u really want to know why

[@zitzenjoe270]

I have Rune on the BNB Chain in my wallet. What options do I have to switch it to the THOR Chain? Unfortunately, a deposit at Binance is not possible....

[@Kozy-ns4qh]

GUT dobre polecam gut gut gut

[@DonteeWeaver]

👀

[@achst1]

I knew about TC before, but just "inhaled" nearly an hour of information like it is nothing

[@Tyuwhebsg]

Good work guys

[@raman2726]

Thorchain team please add monero also

[@renaissancemaneric8019]

Isn't everything undervalued in the Bear Market?

[@dukequack6209]

When thorswap ICO debacle going to be resolved though?

[@richking4705]

Rune is going to break the stick

[@daniele99996]

AWESOME!! super cool. Also chad looks like the AI generated version of a nerd Silvester Stallone! super cool!!!!!!!!!! great interview! Love Eric!

[@Sule89222]

Thorchain is huuuge

[@garykoch5645]

Cryptocurrency is booming, notably giants like Bitcoin and Ethereum. Yet, the market's rollercoaster nature is testing even the hardiest investors. Guidance from pros like Edward Joseph is a beacon during these times. His strategy has fueled my portfolio's fast-paced growth, netting me over 15Btc. Remember, in such a volatile arena, thorough analysis and astute decisions matter, and Edward is the mentor you need for triumph.

[@benjaminclark5974]

So impressed knowing how much people talk good about Edward Joseph daily signals. he also helped me and my friends here in Canada to trade profitably with his daily signals.

[@garykoch5645]

He is Ddyjossy VlA TE L E G R AM.

[@richardmichael2822]

Nice info, i appreciate your concern this will help a lot especially to the young investors who have no or lesser knowledge on how the market works

[@diesel2526]

While I do appreciate the tech is objectively useful infrastructure, 'Thorchain' as a name is so edgelord and detached from the function of the protocol. Complete missed opportunity to call it 'Runenet' (a network for exchanging value symbols), or even some reference to the Well of Urd (perhaps just Urd) if you really wanted a Norse reference.

[@billylau2842]

Wow excellent! Why not make a ETH L2 version of this cross-chain DEX

[@stanleygodspeed4009]

because it won't work. Arbitrage on thorchain works for a benefit of swappers. Arbitrage on eth works to the detriment of swappers (aka sandwitch attacks an so on)

[@kistofersmetta3]

You obviously didn’t listen to the interview😂

[@cryptonite8287]

ETF will never happen unless get rid of DEX

[@RainbowArt_Dad]

The explanation of the incentives for validators naturally rebalancing to provide economic security sounds scarily similar to UST on Luna. I’m very ignorant technically so I would love an explanation as to why this is completely different.

[@cajum24]

It's very different. The demand for UST came for a large part from the unsustainable anchor yield. The yield on thorchain comes from the demand to trade btc to eth. As long as there is trading demand, there will be fees and thus yield. There is also no minting or burning going on in this feature. TC got hurt big by the luna crash as lots of tvl was lost instantly, the team knows what happened there and they are not making the same mistake. The rebalacing is just between the nodes and the liquidity pools. But in any case, you can just trade on TC without being exposed to any risk (unless something like a hack happens precisely when your trade is being executed, but that would be extremely unlucky since you are only exposed for a short amount of time)

[@brahdha1335]

There is no uncapped burn-mint mechanism, the thing that brought Luna down

[@andrewrafalowitz7023]

There is a circuit breaker that orevents a luna like minting death spiral. Look up the thorchain circuit breaker in their documentation.

[@cajum24]

The circuit breakers n stuff is only related to lending though. Which is an experimental feature with a hard cap on how much can be lend out, thus limiting the risk in case everything goes wrong.

[@Bankless]

I think its because there is no asset thats minted on the back of RUNE. UST was a liability of LUNA, and when UST peg collapsed, it took LUNA with it, and also visa versa. When RUNE drops in price, ETH, BTC just flow out of the system, but there's no liability on the back of RUNE

[@justmythoughts2786]

🚮 🗑️

[@filipkalny6594]

THORchain's moral failing is refusing to support privacy protocols as first class assets. The one place where not having intermediaries actually matters.

[@surfcoach]

Not refusing just not possible yet in a safe way via TC

[@brahdha1335]

Adding privacy protocols opens the door to regulators and governmental entities having a good reason to go after ThorChain. Risking losing the ability to not having to go to the ftx of today is not worth it

[@brahdha1335]

But check Maya for privacy coins

[@stanleygodspeed4009]

those are coming, question is you gonna jum onboard before it happens, or will chase the pumps after it happens

[@filipkalny6594]

@@brahdha1335 if it can be "gone after" then it's not decentralised

[@dbased1915]

​interview Charles Hoskinson or Richard Heart

[@pookiegrindtime9708]

Ada is a joke

[@stanleygodspeed4009]

They are trying to interview Richard as we speak xD Except Richard is running away from that interview

[@Super-no1fx]

Anyone having problem with there Thor wallet on iOS .. I’m having to power down to pull it up.. and then it loads for about 3 seconds and screen goes black.. no problems with my other wallets .. I figured I could go thru Thor swap but I can’t find how I connect Thor wallet to it? Any help is appreciated

[@user-kq8il1sn1c]

Why would you allow a scam Project on your show?

[@gauthierv]

This sounds like a ponzi. Having all in Rune is non sense