THORChain (RUNE) - a decentralized liquidity protocol that allows users to exchange crypto assets easily across different networks without losing full responsibility for their assets in the process.
Contents:
What is THORChain (RUNE)?
With THORChain, users can simply trade one asset for another on a permissionless basis without relying on order books for liquidity. Instead, market prices are supported by the ratio of assets in the pool. The native token of the THORChain platform is RUNE. It is used as the base currency in the THORChain ecosystem.
Moreover, it is used for platform management and security under the resistance mechanisms of Sybil THORChain. The project was funded through the Initial DEX Offering (IDO), which was launched through Binance DEX in July 2019. Its mainnet was originally launched in January 2021, but a multi-chain upgrade is currently scheduled for 2021.
What is the uniqueness of the protocol?
The platform uses a unique system to help to mitigate the issue of losses that a liquidity provider may experience when contributing to liquidity pools. It achieves this by using a sliding fee to ensure that liquidity stays where it is needed.
The features of the project are as follows:
| Technology | In addition, THORChain combines a number of new technologies to facilitate cross-chain token exchanges easily. All this makes the platform accessible even for inexperienced traders. |
| Profit | The platform is not profit oriented. All fees, generated by the protocol, go directly to the users and there are no provisions for the team. Instead, the team is stimulated by simply holding RUNE - just like everyone else. |
Those currently working on the project are mostly anonymous. Again, a company spokesperson states that this is necessary to protect the project and ensure its decentralization. Developers work for nodes by submitting code that makes the system more valuable. Nodes work for Stakers by protecting assets and being online. Stakers bring in capital, which is placed on the market for Swappers. Swappers pay fees, bringing economic activity.
Where can I buy and sell tokens?
As of February 2021, there are 158.4 million tokens in circulation out of a total supply of 500 million. THORChain was originally launched after the IEO on Binance DEX. As part of the IEO, 20 million RUNEs were sold. So far, a total of 130 million RUN have been sold in previous funding rounds.
RUNE - a popular cryptocurrency that is available for purchase and trading on a large number of both centralized and decentralized exchange platforms. The most popular of them are:
- Binance (centralized);
- SushiSwap (decentralized).
RUNE can be bought for Korean won (KRW) on the ProBit exchange and US dollars (USD) on FTX.