Thorus Launch: Phase Two
Timeline
We are tentatively aiming for a January 5 launch — more on that below. As decided by the community vote — Thorus will be launching on AVAX. You can access the network through MetaMask by following one of the options below on adding the Avalanche RPC to your wallet.
1️⃣ Tutorial on manually adding the network to Metamask
2️⃣ An alternative would be to connect your wallet to https://chainlist.org/, to the corresponding network (Avalanche Mainnet) and allow it to add the network to your Metamask app automatically.
Our platform, upon launch, will also have the option to automatically add the Avalanche Network to your Metamask wallet app.
However, we would like to note that the quick turnaround time will not come at the expense of security. We have been able to reuse some of the previously audited code, which has helped ensure a quick turnaround time. However, it also means we need to wait for fewer audits to be returned before relaunching.
Furthermore, there have been some fears regarding whether Thorus will be launching at the beginning of a Bear market. While it is impossible to predict future market moves, we do acknowledge the heightened volatility the broader market has been experiencing. However, Thorus is well equipped to handle any prolonged bouts of negative market sentiments. Through the merit of owning the liquidity pool (POL), we’re effectively locking in a minimum price for THO.
That being said, we hear your concerns and have decided to push the launch to January 5, 2022. This will help us navigate the more significant volatility spikes while setting us up for launching on the expected upswing of the overall markets. Beyond navigating volatility, we will also sidestep the holidays to ensure we do not launch during a period of low volume, which would exacerbate our price swings. We effectively bypassed our relaunch’s two most significant risks by pushing the launch back two weeks.
In the meantime, WMT is not tradable; therefore, it is insulated from the broader market moves. This, in turn, helps preserve the initial capital as outlined below in the liquidity section.
Beyond being more robust against market downturns, Thorus will be more stable on the chain side as well. As mentioned, we’re initially launching on AVAX. However, once we begin our expansion cross-chain, we will dynamically shift the Treasury to chains that offer specific return incentives. This will increase the rate of return and allow Thorus to navigate potential chain-specific slowdowns.
Furthermore, we can dynamically adapt our emission rates to the best-performing chain to garner additional TVL for our Treasury. For example, if AVAX were to slow and whatever chain we bridge to increases, we can divert more than the 20% allocation reserved for cross-chain expansion. As such, we can maintain a competitive edge wherever best suits the platform overall.
Liquidity
We have collected $94,000 worth of fees to date, which will back the initial liquidity pool. An additional four weeks’ worth of fees from Wault Swap will also contribute to initial liquidity. As such, we are expecting between a $1.10-$1.30 list price. While this is an 18% spread, we will close the gap closer to launch as we analyze the volume of fees we will have collected over the month, at which point a final price will be derived shortly before launch. After launch, we will add additional liquidity from our Wault pairs to Thorus. However, the timeline will be announced later as we need to make sure we can keep enough liquidity for those who have not migrated to sell their tokens.
The initial liquidity pair will consist of the following:
- DAI/THO
- AVAX/THO
It is important to note that it would be advised not to purchase a large quantity at once due to the minimal relative initial liquidity. Instead, wait for the liquidity to grow and spread the would-be price impact across a less statistically moving time frame. The Bond portion will consist of wBTC/Statik, ETH/Statik, DAI/Statik, and others at launch. We will release a complete list of liquidity pairs closer to our release date.
Airdrop
Anyone who has migrated and holds WMT in their wallet will be airdropped THO once the project launches at a rate of 1:1. There is no further action to be taken by investors; they only need to wait for the launch. You can follow the announcement channel HERE to keep updated with further timeframes or released details.
Finally, you will need roughly $5 worth of AVAX to process your initial transactions. You can do that by either bridging through the official Avalanche Bridge or by purchasing a small amount of AVAX through a CEX like KuCoin and sending it to your wallet. Either way, once you have a small amount of AVAX, you’ll be able to become self-sufficient with managing your THO.
Coming Giveaways and Community Initiative
We are incredibly grateful for all the support we have received from our community during this migration period and since our launch. While we cannot fully express our gratitude, we would like to announce two initiatives to thank the entire community and our most vocally supportive members. A separate article will be released closer to the holidays regarding a giveaway of WMT and a vocally supportive community initiative. So keep an eye on our announcement channel for that information, as it could add a bit extra festivity to your holidays!
If you have any questions or concerns, feel free to reach out through our social channels, and we will be there to help!
