Thorstarter Valhallaa: Thorstarter’s Renaissance Era
Since its inception, the goal of Thorstarter was to expand and help incubate new projects into the Thorchain ecosystem, operating initially as a cross chain launchpad and sudo liquidity relayer.
When the market conditions of a launchpad became unfavorable after the collapse of Terra and we entered into a multi-year bear market, THORChain went into hibernation to “weather the storm”. IDOs are a reflexive model and as such, did not perform well as the market trended down. The previous team has facilitated an amicable transition to new leadership and mods to help steward the protocol going forward, who are aligned and inspired by the initial vision set forth by Thorstarer, and committed to bring us back to our roots.
The revival of Thorstarter heralds a significant turning point. This transition marks not just a fresh starting point but a reinvigoration of our core mission: to propel the THORChain ecosystem into a new era of growth and innovation and greater interconnectedness with the broader DeFi ecosystem. As the new custodians of this project, we are committed to breathing new life into Thorstarter, driving value to its token (XRUNE), and aligning it more closely with the overarching goals of the THORChain and greater DeFi principles.
Our roadmap below may look familiar — its foundation is the original Thorstarter roadmap as was envisioned by the original team, pre-hacks and pre bear market. It lays the groundwork for this renewed focus, outlining key initiatives that will drive our progress and ensure Thorstarter’s pivotal role in THORChain, Maya and broader DeFi ecosystem .
Introducing: Thorstarter Valhallaa
Strategic Priorities: Charting a Course for Growth
Q1 2024
The Multichain Launchpad: A Hub for Innovation
Remaining a focus of our revival strategy is the Multichain Launchpad. Our vision is to transform Thorstarter into a thriving hub for pioneering projects that not only embrace a multichain approach but also integrate with and enhance the THORChain ecosystem. This includes nurturing projects like Maya and other future forks that share our ethos. The launchpad will be a catalyst for these projects, offering them the support and exposure they need to flourish.
Although dormant for much of the bearmarket, the technology created by Thorstarter as an initial cross chain launch pad is incredibly powerful, enabling us to build further with the new tools available in the crosschain space. We believe there is renewed interest and opportunity to provide unique and custom solutions to help foster and launch ecosystem projects based on our cross-chain capabilities.
Thorstarter Valhalla
The entirety of Thorstarter ecosystem products and digital presence will be reimagined as Thorstarter becomes Thorstarter Valhallaa. This work is underway and we fully expect to deliver the first iteration of the updated website and dApp to be completed this quarter. The transition to Valhallaa will roll out in phases and symbolizes our commitment to the ecosystem and protocol.
CACAO Rewards and Forge Early Exit fees
The CACAO rewards earned from the MAYA held by the TS treasury (which was airdropped for our long term support of Maya Protocol, including running a genesis node at our cost) will continue to be distributed until we reach the time where we sunset Forge in favor of a updated real yield solution for XRUNE holders
The snapshot for Forge stakers was taken in Nov 2023 and will be used for the future distributions of CACAO and early exit fees from Forge
Q2 2024
Reinventing the Liquidity Relayer
The concept of the “Liquidity Relayer ‘’ initially posed a challenge in terms of its strategic direction, XRUNE was not as efficient at connecting cross-chain liquidity due to higher gas fees and being a secondary asset to RUNE. We’ve taken this as an opportunity to sharpen the focus of the relayer concept as it was meant to be: an aggregator for long-tail assets, using THORChain (and Maya) rails.
Our new approach focuses on developing new tokenomics that bridge the gap between diverse assets and THORChain’s offerings. This will involve creating an intuitive swap UI/aggregator that not only encompasses THORChain and friendly fork assets but also extends to other chains. This initiative aims to enhance liquidity and accessibility, benefiting both Thorstarter and the THORChain ecosystem at large.
The initial swap product will feature a user-friendly interface with a backend aggregation system connecting THORChain, Maya, and other cross chain assets via the use of Layer Zero and later, Wormhole. This is currently under development with the goal to have the PoC deployed by Q2 2024. This will tie into our real yield solution for XRUNE.
As a commitment to the ethos of THORChain and furthering decentralization, we plan to release this code open source as a public goods effort to encourage adoption and further growth / building.
Q2 / Q3
The Valhalla Venture DAO: Fostering Ecosystem Synergy
This initiative will transition the launch pad towards a community-centric incubator, ie venture DAO.
This initiative will focus on supporting and collaborating with projects that align with THORChain’s larger vision and values with direct input from the DAO.
The Venture DAO will be split between growing Valhallaa products and incubating external projects.
Q3 / Q4
The second half of 2024 will be dedicated to enhancing user experience and expanding our services, and we have several exciting developments lined up:
First and foremost, we’re focusing on expanding cross-liquidity solutions. Set to roll out in Q3/Q4 of 2024, this initiative will enhance user liquidity options through the aggregation of Layer Zero. This integration is a significant step towards ensuring a smoother and more efficient liquidity experience across various platforms.
Another key development slated for the latter half of 2024 is the expansion of our token support. We’re adding additional aggregation routing to improve your experience across multiple chains. This expansion is designed to make your interactions with different cryptocurrencies more seamless and intuitive.
Prioritizing the security and integrity of our platform, we will conduct a comprehensive smart contract audit and security assessment in Q3/Q4. This step is crucial in ensuring that assets and transactions are safe and secure, serving as the foundation of trust in Valhallaa.
We’re also excited to announce the launch of Peer-to-Peer (P2P) lending services. This new feature will diversify Valhallaa’s offerings, providing you with more options to manage and grow your assets within our ecosystem. Lending markets traditionally are powerhouses in the bull market, we believe by offering targeted cross chain assets we will be able to fill a niche market
In our quest to expand Valhallaa’s network, we will be forging strategic alliances with other cross chain DeFi protocols for a more robust and interconnected DeFi experience.
To further enhance the value and market stability of our native token, XRUNE, we’re implementing deflationary features in the latter half of 2024 such as buyback and burns using fees generated from the swap/aggregation and lending products. These features are designed to increase the intrinsic value of XRUNE, benefiting our community members who hold or transact with the token.
Lastly, we’re working on expanding our support across major blockchains. By increasing Valhallaa’s presence across the top blockchains by TVL and synergy, we aim to make our platform more accessible and versatile for users worldwide.
Conclusion: A New Chapter in Thorstarter’s Story
As the new stewards of Thorstarter, we are excited to embark on this journey of revitalization and growth. Our roadmap is not just a plan of action; it’s a pledge to the THORChain and Maya communities. We are here to ensure that Thorstarter plays a crucial role in driving the ecosystem forward, fostering innovation, and building a stronger, more interconnected blockchain community.
We invite you to join us in this new chapter. Your support, ideas, and enthusiasm will become the lifeblood of Thorstarter Valhallaa. Together, we will explore new frontiers, face challenges head-on, and celebrate the achievements that lie ahead. Stay tuned for more updates as we progress on this exciting journey, united in our vision and purpose.