Urgent proposal to acquire @THORChain and provide assistance to the holders and creditors.
As the protocol serves as an open-source community-driven, true Web3 building project, this proposal will be transparent and accessible to the public.
Unfortunately, we are witnessing the gradual decline of what was once a promising project.
Instead of achieving great results and hitting a new ATH, the community was blindsided by $200M in toxic frozen loans, facilitated without any warning and made possible through the use of an admin key.
Rather than concentrating on building Rune, the founder is pursuing nine different projects, leading to unclear strategies that raise numerous questions.
WeWe / Deca Swap / Vultisig / WeWe Swap / Thor / Ruji / Vamp / YIELDI / TraitForge
To prevent the current crisis, @jpthor needed to raise the large VC round by $50-100M, work on regulatory compliance, secure appropriate US network, and focus on @THORChain achieving 50-60% market fit along with Round C funding.
Unfortunately, the project currently lacks any backers. In fact, the bank run has not yet started, but if it does, an amount between $5-10M could lead to a collapse in price similar to what happened in the Luna case.
I understand that many supporters of the project are holding onto hope for a miraculous turnaround.
"That's it, that's it, yes, that's it tomorrow." However, it's often more prudent to analyze the facts, figures, and current situation.
Holders of the project are being misled, creditors are experiencing years of delays, and the founder is engaged in unclear schemes:
https://t.co/zFaC29a3Da
The entire Thorchain ecosystem relies heavily on the generosity of @TrustWallet, who are outstanding builders and the largest provider.
Previously, it was difficult to envision major new integrations for Rune. However, following recent events, we can only hope for a miracle.
Meanwhile, competitors are actively seeking to penetrate the remaining top sites, and those sites themselves are considering hybrid models (like Exodus, which is incorporating a CEX component and plans further refinements).
If @TrustWallet eventually decides to halt integrations or redirects volumes to a competing provider, we can only imagine the impact this would have on the price of Rune and the assets of its lenders.
At the same time, @TrustWallet demonstrates the potential for scaling, having nearly surpassed the 200M user mark and achieving a MAU count comparable to top-tier fintech like NuBank, all while maintaining a solid reputation and avoiding big management issues.
Our proposal is straightforward.
We're offering a syndicated deal in which:
1) Trust Wallet will acquire THORChain (let’s set aside discussions about decentralization for now; particularly when you understand the details and nuances involved).
2) Funds will be disbursed to creditors immediately, financed by a pool of VCs led by YZi Labs (formerly @BinanceLabs).
3) @EowynChen will assume the role of CEO for both companies.
4) Rune -> TWT.
5) A portion of the protocol's revenue will be allocated to marketing support for the unified on-chain asset (with genuine marketing efforts, not painted Cybertruck).
Results:
a) Creditors will receive an instant refund with interest.
b) Former RUNE holders will have a new asset that will consistently benefit from the protocol’s revenue, without relying on complex schemes.
c) TWT and Trust holders will see strengthened valuations and multiples.
d) Current contributors to the Thorchain protocol will receive bonuses, enjoy a stable future, and have the opportunity to safely develop the leading web3 product.
e) Support from the family office of @cz_binance.
Ultimately, this initiative will create the most reliable on-chain wallet with a swap provider in the industry.
We’ve secured our Pre-Seed Round led by @v3v_ventures & 40+ partners to bring Tier1 Web3 gaming experiences.
🕹️Get ready to Play in 30 days.
⌛️1 week to grab Early Bird Bonus: https://t.co/v5t8gvdfHF
Reward Program with a Lifetime Share Model.
1/5
Dear #b0rder1ess family! We're proud to announce our brand new collaboration with Trust Wallet @trustwallet X @trustwallet_ru as part of our prelaunch campaign.
Don't miss the b0rder1ess.nft mint coming up in the end of March and hold your b0rder1ess NFTs in a #TrustWallet safely! ;)
Follow this QuestN for more details: https://t.co/eE94dpe87F
Lend and Prosper, the third out of 10 Metis ecosystem quests, is officially live on @layer3xyz⭐⭐⭐
Lend your crypto assets on @AaveAave and/or @GranaryFinance and become eligible for a limited-edition commemorative NFT.
https://t.co/626ZGNRT5c
I just completed Season 1 of Community Testing for the #Metis Decentralized Sequencer and it was EPIC!
I will keep testing DApps and earning points to get rewards!
0x3fdEBda35D529A9b5ED69F9981BBd8bFf1c3F4FE
Have you joined yet?! https://t.co/fzptL1OWjx #MetisCommunityTesting
Web3 Gate is the last shot at Generational Wealth for the regular degens out there
What really jazzes us up isn’t just the snazzy new look of @trustwallet, but their leap from just a wallet to realizing they're all about easing the way into Web3.
Whoever controls the gateway to Web3 basically holds the magic wand controlling the financial & social tides of the new digital realm.
However, their arch-rival, #MetaMask, seems to be snoozing on this visionary express.
They're still playing it old school, chasing a clique of geeky aficionados with their vintage UX.
We're witnessing a classic tech duel akin to Apple vs IBM unfolding before our eyes, where the one who breaks the shackles from the current paltry Web3 MAU to a whopping 100 million users will wear the crown.
And oh, let’s not forget the sweet deal of steering their token as a loyalty juggernaut.
#TWT #MASK or whoever else is in the arena, the game is afoot.
While the crowd is holding its breath for ETF nods, daydreaming of the next free money wave, in the shadows brews the most riveting showdown since 2016.
Buckle up, as the Web3 frontier is about to get wild!
[NEW] Research: https://t.co/cZhlfmaPNp
From the competitive landscape of #TrustWallet & #MetaMask to the evolving regulatory frameworks, our latest research offers a 360 degree view of the Web3 Gate.
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Who will create the Super App to reshape the economy?
I'll do what I've always wanted to do. I'll make a comic. I'll tell you an interesting story about the colonization of Mars. How far the fictional story will be true - we will find out later)). A start has already been made.
Do you like reading comics? I've always liked comics. Comics for me is a world where everyone becomes a participant in events and stories. What is a comics for you?
@atunakerre Hello! Full story in four NFT-graphic noval💥💥💥.
Those who understand the idea and draw parallels with real events and heroes will become the leaders of the race.🔥🔥🔥
https://t.co/xh092YsszB