General Q&A

This section contains general Q&A items, primarily induced by repeated questions asked on the THORSwap Discord.

Do memoless Earn/Savers actions use streaming swaps?

Yes, memoless Earn/Savers actions automatically use streaming swaps. Specifically, they use a default of 1 block interval per sub-swap, and auto adjust the number of sub-swaps to target the minimum 5bps of slippage fees.

How can I track my LP or Earn/Savers earnings?

  • THORYield mobile app for Android (via Google Play Store) (recommended)
  • THORYield mobile app for iOS (via Apple Store) (recommended)
  • THORYield app (web-based)

I just opened my LP or Earn/Savers and it's not showing up in THORYield!

THORYield as of this writing (2023/11/15) is a bit slow to notice new LPs and Savers/Earn accounts. Please give things 24-48 hours to settle.

In the meantime, you can use the THORChain Network Explorer to verify your LP/Savers exists. Simply visit the site and search for your wallet address (for symmetrical LPs, please use your THORChain address), then visit the LP/Savers tab and wait a few moments for the details to appear.

Alternately, you can use the Midgard API directly if you are technically inclined. Use the /v2/member endpoint.

If I deposit an asset asymmetrically in an LP, and I expect the opposite asset to gain in value, will I end up with more of the asset I deposited?

Yes. This is because when adding the asset you deposited, 50% of it was automatically swapped into the opposing asset.

Example: you entered into an asymmetric LP depositing BTC (thus putting you in the BTC.RUNE pool). This causes half of your deposit to be swapped for RUNE (at the time the LP was opened). If RUNE pumps, your LP position will auto-rebalance 50:50, thus you will have more ETH than originally deposited.

For further information on asymmetric LPing and 50:50 balancing, as well as impermanent loss, please see the following THORChain University blog posts:

Is the APR percentage on THORSwap/THORYield real (e.g. 500%)?

Yes. However, it's important you understand that LPs and Earn/Savers accounts are not like bank accounts with static or guaranteed interest rates; the APR varies constantly. The numbers shown on THORSwap and THORYield refer to the gains over the past period (usually 7 days on THORSwap, and 180 days on THORYield). The APRs are LUVI-based.

Quoting SamYap of THORChain University:

  • LP APRs are backward calculated, not guarantee of any future returns
  • LP APRs depends significantly on RUNE price movements & calculation time periods

See https://crypto-university.medium.com/under-the-hood-liquidity-pool-apr-3e5e662e6675 and https://crypto-university.medium.com/under-the-hood-apr-of-a-fluctuating-position-948f49dace8a

Note: The synth leverage on @THORChain's LP goes both ways.

  • When RUNE:Asset price ratio drops, you may see -100% APR (or lower).
  • When RUNE:Asset price ratio increase, LPs can get a similarly "exponential" positive yield as well.

Doing LP is like betting on RUNE price performance.

Is the negative APR I see correct? How can that be?

Yes. Quoting paperX of THORSwap:

Any "negative % APR" stems from THORChain's "synths effect" and LUVI based calculations. You can read all about the details here (See part 3): https://medium.com/thorchain/introduction-to-luvi-and-midgard-apr-calculation-update-cf15e743276d

What are the risks associated with Earn/Savers?

What are the risks associated with LPs?

The risks are mostly the same as what's covered in the "What are the risks associated with Earn/Savers?" section, with some additions:

Where can I see APR performance over time?

Try the THORChain Network Explorer. Navigate to Insights → APR. There you can see 30, 60, 90, and 180-day histories.