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Out From Chaos Comes THORSynths

Jul 21, 2021 · 21 min read

By Can Gurel, and Yan Liberman, CFA, CAIA

Our initial research piece on THORChain dates back to the end of December 2019. Since then, RUNE’s market cap has grown considerably to $1B today. The project migrated from a single chain DEX into a one-of-a-kind cross-chain liquidity network. More specifically it recently transitioned from Single Chain Chaosnet (SCCN) to Multi Chain Chaos Net (MCCN). We’re excited to provide a large update on THORChain, which we present in 3 parts. First, we will share our brief assessment on the recent unfortunate exploit. Next, we will analyze on-chain historical figures from THORChain MCCN and share our insights. Finally, we dive deep into the implications of two novel assets that will shape up THORChain’s future; Synths & iRune.

Expecting Chaos

As we were getting closer to publish our report, THORChain recently experienced an unfortunate exploit. The exploit was pulled by taking advantage of a recent feature that was added to enhance THORChai

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