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Today I would like to focus on a single line of code @thorchain_org that should be by now on a radar of many:
SWAP:ASSET:DESTINATION:TRADELIMIT:AFFILIATE-ADDRESS:FEE-AMOUNT
/thread
SWAP:ASSET:DESTINATION:TRADELIMIT:AFFILIATE-ADDRESS:FEE-AMOUNT
/thread
This single line of code allows for an integration with @thorchain liquidity pool allowing the integrator to benefit in a form of an affiliate fee. Who does not like free money? The exact mechanics of it is explained here: https://gitlab.com/thorchain/thornode/-/issues/653
In a nutshell @thorchain allows merchants to setup their own fee structure in a very simple way. The fees could be:
- fixed rate
- fixed size
- min/max
- any combination of the above
It is flexible and elegant, just like what we would expect from this world-class project.
- fixed rate
- fixed size
- min/max
- any combination of the above
It is flexible and elegant, just like what we would expect from this world-class project.
Now, let's understand the implications. The very first thing you will notice that, just like with anything related to @thorchain_org the integration is:
- asset-neutral
- non-custodial
- chain-agnostic
- permissionless
- open
- censorship resistant
- secure and
- instant
- asset-neutral
- non-custodial
- chain-agnostic
- permissionless
- open
- censorship resistant
- secure and
- instant
TL;DR quick summary of who would benefit from integration:
- Software wallets
- Hardware wallets
- #CEX and #DEX exchanges
- On- and off-ramping services
- Gaming platforms
- Other protocols
- Blockchain social platforms
- P2P marketplaces
- Loyalty and rewards platforms
- Software wallets
- Hardware wallets
- #CEX and #DEX exchanges
- On- and off-ramping services
- Gaming platforms
- Other protocols
- Blockchain social platforms
- P2P marketplaces
- Loyalty and rewards platforms
Software wallets - while the brand-new @xdefi_wallet has been born from @thorchain_org collaboration and support, and new wallets will certainly follow, the most obvious integrations may come from the existing software wallets with their massive customer base like:
- @TrustWalletApp
- @exodus_io
- @CoinbaseWallet
- @Gemini
- @argentHQ
- @CoinomiWallet
- @GuardaWallet
- @bitcoinwallets
- @enjin
- @BitPay
- @MyceliumCom
- @metamask_io
- @eToro
- @ElectrumWallet
- @PointPayments
- @AtomicWallet
- @jaxx_io
- @xapo
- @Lumi_wallet
- @BRDHQ etc
- @exodus_io
- @CoinbaseWallet
- @Gemini
- @argentHQ
- @CoinomiWallet
- @GuardaWallet
- @bitcoinwallets
- @enjin
- @BitPay
- @MyceliumCom
- @metamask_io
- @eToro
- @ElectrumWallet
- @PointPayments
- @AtomicWallet
- @jaxx_io
- @xapo
- @Lumi_wallet
- @BRDHQ etc
@ShapeShift_io hinted strong support for @thorchain_org and I am sure many others will follow.
The second group who will follow very closely, will most likely be hardware wallets like:
The second group who will follow very closely, will most likely be hardware wallets like:
- @Ledger
- @Trezor
- @cryptokeepkey
- @ellipalwallet
- @COLDCARDwallet
- @Coinkite
- @ShiftCryptoHQ
- @OpoloWallet
- @Cobo_Wallet
- @iSafePal
- @SecuXwallet
- @Tangem
- @SatochipWallet and I am sure more will join in time
- @Trezor
- @cryptokeepkey
- @ellipalwallet
- @COLDCARDwallet
- @Coinkite
- @ShiftCryptoHQ
- @OpoloWallet
- @Cobo_Wallet
- @iSafePal
- @SecuXwallet
- @Tangem
- @SatochipWallet and I am sure more will join in time
The third group, who will undoubtedly follow the steps of the wallets are both centralized and decentralized exchanges. This link will give you a glimpse to what's possible: https://coinmarketcap.com/rankings/exchanges/ Exchanges represent a massive opportunity for @thorchain
The next: on- and off-ramps are gateways to regulated financial world. They also allow for bringing new users and new money into the cryptocurrency market. While they are regulated, the lines are going to blur between software wallets and on- and off-ramping services like:
- @Changelly_team
- @RampNetwork
- @PayPal
- @cryptocom
- @Coinsquare
- @bisq_network
- @shakepay
- @BanxaOfficial
- @sendwyre
- @SimplexCC
- @transak_finance
- @MoonPayHQ
- @coindirectcom
- @PaxosGlobal and many other
- @RampNetwork
- @PayPal
- @cryptocom
- @Coinsquare
- @bisq_network
- @shakepay
- @BanxaOfficial
- @sendwyre
- @SimplexCC
- @transak_finance
- @MoonPayHQ
- @coindirectcom
- @PaxosGlobal and many other
The next group is gaming. It is no secret that blockchain gaming is going to take over the traditional gaming platforms. This decade is going to see teenage billionaires, partially thanks to this phenomena. Why not make money while playing your favourite shoot and kill?
The obvious conclusion is that the winning protocols will establish liquidity pools to make the exchange of in-game assets easy and will provide both in-game and @thorchain incentives to attract players to participate as LPs.
This may be a "winner-takes-all" scenario if a successful gaming platforms figures it out, and only the smartest will make it big. I would watch:
#CryptoPop
#CropBytes
#MergeCats
#OX Universe
#BUFF
#Huntercoin
#Splinterlands
#Storm
#Worlddopo
#Sweatcoin
#Privateers
#Alien Run
#CryptoPop
#CropBytes
#MergeCats
#OX Universe
#BUFF
#Huntercoin
#Splinterlands
#Storm
#Worlddopo
#Sweatcoin
#Privateers
#Alien Run
Last but not the least, the integrations with other protocols will bring unprecedented liquidity inflows. I would closely watch the finance ecosystem on #Cosmos network: https://cosmos.network/ecosystem#
The future for @thorchain_org is extremely bullish thanks to single line of code.
The future for @thorchain_org is extremely bullish thanks to single line of code.
Now, the above are very obvious integrations. Now imagine some #cryptopunks who would code this into bots, social media platforms, chat rooms and, possibly now, unimaginable platforms, that would benefit the network and the developers alike. @thorchain_org FTW 
But this is not everything: https://twitter.com/CBarraford/status/1354916633517707271?s=20
