Introduction of THORWallet
Vision, Roadmap & Token Launch
THORChads all know that DeFi is the future. We don’t need to showcase the growing numbers, the charts pointing in one direction — you all know that. But still you need to let that sink in first. We are witnessing a paradigm shift in the financial industry and this hasn't happen for a very long time. The new generation of financial system based on blockchain is fair, transparent and accessible. Why? Because it is built by conscious people that have those important pillars in mind.
While the largest DeFi ecosystem currently sits on Ethereum, we all agree that the future is multi-chain and THORChain is doing a fantastic job in this regard, enabling for the first time swapping native assets between different blockchains.
What does that mean for THORWallet?
- It is a non-custodial wallet as THORChads own their own keys.
- It enables swaps of Layer 1 tokens in a decentralized way with no middleman. Swap BTC vs ETH, non wrapped — the real thing!
- You can earn interest rates either through providing liquidity or the multi-chain savings account (coming soon), again in a decentralized way, eliminating all risk of giving your coins to an intermediary. Also this means that you can finally earn yield on BTC in its native form.
- You can trade synthetic assets (coming soon), which will have much lower trading fees, broaden the investment universe dramatically and are backed by the liquidity pools and treasury of THORChain.
- Financial inclusion is real: Gamified education & community features and services to grow the user base and increase awareness thanks to our $TGT multi-utility token.
Our vision is to give users the chance to participate in the DeFi space the easiest way possible, directly from your mobile phone. It is why we set our north-star to become the Robinhood of DeFi. On top of that we incentivize and educate the right behavior within the app through our $TGT Token which will drastically enhance user adoption and retention.
Two Apps and one Token — THORWallet & Retail App
While THORWallet is the community app of THORChain and directed towards the experienced DeFi participant, our second app, the retail app, will be for the retail space that has little to non experience with crypto. It will have a different non-THORChain related branding and extract all DeFi related complexities away, giving the user the easiest UX/UI he can imagine. He won’t even notice it’s DeFi. Think of it like Coinbase Pro vs. Coinbase, whereas $TGT is used for both ecosystems. This is the future of finance how we like it.
At the core of THORWallet and the Retail App we have our $TGT multi-utility token. We will expand the utility gradually as we progress in building, however have a clear vision in mind.
Most of the utility is obvious. We select a few we like to highlight:
Premium Features: By staking/locking tokens users can enjoy different sets of premium features. Examples are different fees for the different tiers, multi wallet functionality, dark mode, etc. Think of it how crypto.com or Swissborg are doing it very well. Where we are different is that we want to have as much as possible on-chain (on a native mobile). Pure DeFi. This takes some serious skills and time.
Community Programs & Gamification: Yes, we plan an Airdrop for the community as part of our community programs & missions. Terms are not yet fully defined, but we are aligning with the core THORChain team and other THORChain ecosystem partners to make it as fair as possible.
Besides that, community missions and gamification features are probably one of the most underrated features. We are certain (and it can be seen by some DeFi projects which implemented that well) that this drives adoption and retention rate a lot.
At the same time we make sure that through gamified missions, we enable DeFi or crypto new-joiners to be on top of their finances. They will learn the mechanics of DeFi to make sound financial decisions. And our $TGT multi-utility token is at the core of it to incentivize accordingly.
Node Operation: Given our treasury is big enough, we envision to run a full THORChain node in Switzerland to further decentralise and strengthen the ecosystem. A part of the net profit will be used to burn $TGT. By holding our $TGT Token you will make the THORChain network more decentralized and secure.
We were blown away by the positive feedback from the community. In response have slightly adjusted our initially published roadmap and gave the launch and implementation of $TGT, the premium features and community missions a higher priority. The retail app is planned for 2022. To stay within timeline, we have started hiring another Senior React Native developer.
As you are aware of a token launch involve many moving parts. What we can tell you at this point is that we plan our THORChain launch for October 2021. We will also have our own Rune-TGT pool on THORChain. Our ecosystem partner THORStarter will facilitate this launch in various aspects. Stay tuned — more information will follow.
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
✅ Github: https://github.com/THORWallet/