THORChain (RUNE)

Rapid swaps just passed 10% of the volume on TC https://t.co/ctp3P0NBCC

The protocol also surpassed 1.5% of total swap count. Still have a ways to go but we're trending in the right direction. Arbs and wallets are still in their process to adopt the feature which will take time https://t.co/atstnJFZJb

The hidden bullish case for rapid swaps no one is talking about... Streaming swaps was a game changing innovation for CLPs (continuous liquidity pools). It decoupled trade execution from pool depth. Even in extreme cases where the trade is multiples larger than the pool itself

Execution was no longer a matter of liquidity, it became a config. This is huge as @THORChain could now choose fees for any trade in any pool. The compromise was time, as swaps were more than a block, but trade-off this was a no brainer as nearly all swaps are streaming today

Rapid swaps, in theory, reverts this trade off without diminishing the benefit of streaming swaps. Swaps are starting to move back towards 1 block trades. Like how fees became a network config, rapid swaps is doing the same for time. But lets take this a step further...

There are other components that influence swap time, like conf counting, delayed outbound, TSS signing time. But these are also configs. @THORChain has reached a point where it can arbitrarily select its own fees & swap time which is great from a competitive angle

But we've passed a threshold where the limits of trading on TC are now outside of itself rather than internally, and our destiny is decided through node votes.

So what are the limits? Most are things outside of TC control, like reorg risk and how well funded & efficient arbs are on the network. The rest is a question of what the commuity is comfortable with, like how much of delayed outbound, how many nodes in an asgard vault, fees, etc