On October 21, an individual utilized @TrustWallet, which is driven by @SwapKitPowered, to exchange 32 $BTC for $2.65M of USDT on the TRON network.
At that moment, the available liquidity in the THORChain USDT pool was only $248K. Processing the entire trade simultaneously would have completely depleted those reserves, yielding a return of roughly $25K out for the $2.65M input based on the mathematics. Instead, THORChain applied its streaming mechanism to handle the volume. The system divided the massive order into 10,708 distinct sub-swaps spread across 10 hours and 53 minutes, guaranteeing that every single fraction paid the absolute minimum in slippage.
Arbitrage traders actively replenished the available funds during the brief pauses between these smaller transactions. Because of this, the pool never contained more than $251K of USDT at any given point, and the asset price stayed perfectly stable at $1.00 from the initial sub-swap all the way to the final one.
When looking at the expenses for the complete operation, THORChain collected a 0.25% fee, alongside a 0.70% interface fee charged by Trust Wallet. Ultimately, while having greater pool depth would certainly have increased the execution speed of this transaction, it would not have resulted in lower costs.
http://thorchain.net/tx/15922D8D34EC5CF70C3C3880B18FABC4ED4E17B0CAEE6447C0485D6B03DE48FF
At that moment, the available liquidity in the THORChain USDT pool was only $248K. Processing the entire trade simultaneously would have completely depleted those reserves, yielding a return of roughly $25K out for the $2.65M input based on the mathematics. Instead, THORChain applied its streaming mechanism to handle the volume. The system divided the massive order into 10,708 distinct sub-swaps spread across 10 hours and 53 minutes, guaranteeing that every single fraction paid the absolute minimum in slippage.
Arbitrage traders actively replenished the available funds during the brief pauses between these smaller transactions. Because of this, the pool never contained more than $251K of USDT at any given point, and the asset price stayed perfectly stable at $1.00 from the initial sub-swap all the way to the final one.
When looking at the expenses for the complete operation, THORChain collected a 0.25% fee, alongside a 0.70% interface fee charged by Trust Wallet. Ultimately, while having greater pool depth would certainly have increased the execution speed of this transaction, it would not have resulted in lower costs.
http://thorchain.net/tx/15922D8D34EC5CF70C3C3880B18FABC4ED4E17B0CAEE6447C0485D6B03DE48FF