Dear THORWallet community,

Please find here the recording and summary of our sixth THORWallet AMA episode with the THORWallet Founder Marcel Harmann, hosted by Archon which took place live in Discord on the 11th of March.

These Weekly AMAs are a crucial instrument to keep users and community members up to date about recent developments and important news. We will talk about recent events, product development, introduce individual team members, discuss roadmap items, and more.

Summary of the Weekly AMA

If you just want to get the most important insights from the AMA, you can read the below summary.

Update on THORWallet’s KPIs:

First, let us have a look at the current download and usage statistics of THORWallet:

  • Total downloads: 12250 (iOS: 7800; Android: 4450)
  • Website download clicks: 606 last 7d, up 117%
  • Average downloads: ≈ 80 per day
  • Monthly volume: between 5–25m

We see a constant growth in download and usage numbers from week to week and are now able to measure the direct impact of various marketing initiatives on the above KPIs.

Development Update

Wallet Connect integration live

We released the Wallet connection integration, allowing all users to connect with their favorite Web3 application on their mobile or even on the desktop via scanning the respective QR code.

$TGT Staking Rewards Update

In mid-February, we made changes to the ongoing single-side staking promotion, which currently offers 40% APY and will continue until further notice.

Rewards for $TGT — $RUNE liquidity providers

We promised 80% APY for liquidity providers in the $TGT-$RUNE pool on THORChain and we will stick to this promise. We have just been waiting for the donation update in the THORChain Midgard API and will update the LP rewards in the coming days coinciding with the V1.2 update of our mobile app.

$DOGE is live in THORWallet DEX

Only a few days after $DOGE has been added to THORChain, users could also both trade $DOGE and provide liquidity to the $DOGE-$RUNE pool within THORWallet.

The $DOGE-$RUNE pool has nearly $4M in liquidity and offers liquidity providers more than 20% APY.

THORWallet’s new influencer affiliate program

We recently announced our new affiliate program, offering influencers the chance to earn $TGT for successful referrals.

If you want to sign up for this program — and have more than 2.000 followers on your social media platform, you just need to fill out the following form: https://t.co/U2CSlBeJfz

In the near future, we will also add an additional in-app “refer-a-friend” program, incentivizing everyone who refers THORWallet to a friend.

Upcoming Milestones

FIAT On/Off-ramp

THORWallet’s objective has always been to offer a one-stop-shop for users to leverage opportunities in DeFi, this also includes offering FIAT on-&-off-ramps directly in our mobile app.

For this we plan two different integrations. Our initial service — planned for later this year — will allow FIAT on and off ramp without KYC until a certain level (1k Swiss Francs per day / 100k Swiss Francs per year for community plus members). Above that KYC apply.

Once we reach a certain user number (50k-70k), we will start integrating an additional KYC-based integration without limits and including a credit card service. We expect this to happen in mid 2023.

Synths are coming to THORChain & THORWallet!

Synths have recently be released on THORChain, allowing to mint (and trade) all available digital assets on THORChain as a synthetic assets. This for example enables users to trade synthetic $BTC or $ETH with much lower fees, increased trade volume and with 5 seconds transaction settlement.

This is a major milestone for THORChain, which will also give birth to long-awaited additional ThorFi features, such as loans or interest-bearing $RUNE, as well as IBC composability.

And of course, synths will very soon be available in THORWallet too, offering you all the advantages of cheaper and faster trading!

If you want to learn more about synths, check out this guide from our friends at Brokkr:

https://brokkrfinance.medium.com/the-essential-guide-to-thorchain-synthetics-d5fd3437b905

New chain integrations: Terra & Haven

But there is more coming to THORChain! After the integration of $DOGE, two more blockchains will soon be available on THORChain and THORWallet: Terra and Haven.

The Terra integration will allow the trading of the current number 1 decentralised stablecoin $UST and Terra’s native token $LUNA.

Integrating Haven on the other side, will offer users exposure to a privacy stablecoin ($xUSD) and the respective collateral token $XHV.

You can expect these assets being available within THORWallet 2–4 weeks after their official launch on THORChain. We explicitly want to wait a few weeks before adding new assets to THORWallet to make sure they have already been battle-tested and in order to reduce security risks for our users

Mission Rewards are coming to THORWallet

With out next major mobile app version 1.2 we will also finally offer Missions, rewarding early users of our product for trying out different functionalities like swaps, providing liquidity or adding NFTs.

Missions will be a key instrument to attract new users and drive up THORWallet’s trading volumes.

A first preview of the upcoming in-app missions.
A first preview of the upcoming in-app missions.

Ethereum: Customised Gas Settings

V1.2 of Thorwallet will also bring support for the Ethereum London upgrade, allowing users to choose different transaction speeds for their ETH-based operations. This development is also the foundation for a future fully-customise able gas setting that will come in one of the future versions of our mobile app.

More Answers

We answered many more questions from the community in the AMA, so if you want to get all the updates, make sure to check out the recording above.

Join us here:

Official Website: https://thorwallet.org/

Twitter: https://twitter.com/thorwallet

Telegram Group: https://t.me/THORWalletOfficial

Telegram Ann: https://t.me/THORWalletOfficial_Ann

Discord Channel: http://discord.gg/TArAZHDjCr

Official Opensesa Collection: https://opensea.io/collection/thorwallet-army

--

--

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store