9️Streaming Swaps

For Swappers

Are there any risks with Streaming Swaps? Streaming Swaps are exposed to market volatility during their streaming period.

Is there any price protection? No, Streaming Swaps execute at market rate. Your swap is temporarily exposed (positive and negative) in a limited way to market volatility.

Can I cancel a Streaming Swap once I’ve initiated it?

Currently, Streaming Swaps V1 cannot be canceled. Once the transaction starts, the process will complete.

Impact on THORChain

Why introduce Streaming Swaps to THORChain?

It's an experiment aimed at attracting new users, liquidity, and volume. The goal is to outperform Centralized Exchanges (CEX) in speed, privacy and price execution.

How will Streaming Swaps affect fees and Liquidity Providers?

Fees paid to LPers per dollar swapped will reduce, especially for larger swaps. However, this could be balanced by increased volume due to more attractive pricing for swappers.

What’s the expected impact on shallower pools?

Streaming Swaps should make shallower pools, like AVAX, ATOM, AVAX.USDC, etc., more viable and drive volume due to competitive pricing.

Does this feature bring external volume into THORChain?

Yes, it introduces volume that would usually be outside THORChain, through DEX Aggregation, into the THORChain ecosystem.

Can the efficiency of Streaming Swaps be adjusted?

Yes, there's a THORChain protocol-controlled setting to increase/decrease the efficiency of the feature, ensuring long-term health for the protocol.

Future Use and Additional Information

Are there any time limits for L1 swaps?

Currently, Streaming Swaps of Layer 1 assets (BTC, ETH, etc.) can only take place over a 24 hour period to maintain economic security.

Streaming Swaps of native THORChain assets can take place up to a period of 1 year. This includes RUNE and synthetic assets.

These limits may be removed in the future, enabling the creation of DCA and TWAP products using this feature.

Who benefits the most from Streaming Swaps?

While available for all trade sizes, larger trades (relative to pool depth) stand to benefit the most.

Will future versions allow for cancellations?

Yes, the plan for V2 is to have the capability to cancel long-lasting streaming swaps.

Are Streaming Swaps compatible with other THORChain/THORSwap features?

Absolutely! It’s compatible with features like Cross-chain Transaction Tracker, DEX Aggregation, THORName and more. It is also slated to be included in SwapKit — THORSwap’s suite of API/SDK cross-chain services.