Thorchain

I keep hearing about Monero being added to Thorchain but I do not see it there and they keep hyping it up. I really don't understand the situation or how it impacts instant swap companies.

I guess it would be a user friendly DEX so there would be no risk of your coins being seized but I would trust the original open source one seraidex once it happens. Thorchain seems to be terrible with security so it's actually not that cool.

@Stylus1063 I don't see how the creators of that would ever be able to release it without issue. And it practice, it would probably lead to swaps of bad reputation coins.

@admin There was code released for a monero integration with thorchain, which I'm sure was fairly easy to create. And thorchain publicly planned to deploy a runepool using it, which would have facilitated trust minimized cross chain swaps with monero.

Of course, this is already possible with haveno, but thorchain would have made it much more accessible to liquidity and consequently much more practical for users. This would have been absolutely game changing because instant swap services are a centralized point of failure with direct, albeit brief, custody of your funds. Even haveno requires users to surrender 2/3 of their custody rights with multisig. And thorchain isn't doing this in a vacuum; there are competitors advertising censorship resistant cross chain swaps with monero but not a single one of them has thus far achieved it. Waygu has wrapped xmr as a centralized point of failure. Near intents is supposedly blatant bullshit as well.

In my opinion, no chain will be able to achieve this without using a suitably secure and decentralized, private proof of stake consensus protocol. This is because the people securing the network would be criminally liable for transactions so in practice the operators would have to be completely private. Go read the rage and you'll see what I mean. So the thorchain code could work in theory but it would not be practical because the rune pool operators would need to bond publicly traceable RUNE in order to control the protocol's monero wallets. I believe its a matter of time until something like zano fills this space and has a great impact on the global monetary system. I remember deepseek telling me that it would be 10 years or so until the cryptography is ready to support this without becoming too centralized under the hood (like thorchain).