What is THORChain?
THORChain is a decentralized cross-chain liquidity protocol built based on Tendermint and Cosmos-SDK, using the Threshold Signature Schemes (TSS) model. THORChain users can swap cross-chain digital assets through the Binance Chain, Ethereum, and Bitcoin liquidity pools.
Basically, THORChain is like a decentralized vault manager whose control belongs to no one. Based on user actions, THORChain will swap, add or remove liquidity, and process outgoing transactions. Every stage in the transaction process is guaranteed to be byzantine-resistant.
As such, the main goal of THORChain is to eliminate centralization and optimize cross-chain liquidity. THORChain ensures the management of all assets in the vault in a completely secure environment.
What problem does THORChain solve?
- Price volatility: The price volatility of cryptocurrency is one of the factors slowing down the process of the crypto mass adoption.
- Low liquidity: lack of liquidity, or lack of buy/sell orders, has a significant impact on projects with tokens.
- No cross-chain support: several decentralized exchanges currently support one blockchain network only.
Key products of the THORChain ecosystem
- THORChain: layer-1 decentralized liquidity protocol
- Yggdrasil protocol: a bridge between networks, ensuring fast speed and high security
- Flash Network: a layer-2 network that allows the exchange of digital assets between different networks
- Bifrost Protocol: THORChain’s cross-chain protocol
- Asgardex: THORChain’s liquidity interface
- ÆSIR protocol: management protocol suite of THORChain
Roles in THORChain system
In the system there are 4 main roles:
- Liquidity Providers: who provides liquidity to pools to profit from trading fees and rewards.
- Swappers: who use liquidity to swap digital assets and pay fees.
- Traders: who monitor pools and rebalance liquidity continuously, pay fees and earn profits.
- Node operators: who participate to validate and secure the network to receive rewards.
RUNE Token
RUNE is the token that operates the THORChain ecosystem, has 4 main roles below:
- Provide liquidity: used as a bridge between networks
- Security: network participants (nodes) need to stake ~1 million TUNE tokens to ensure that no assets are stolen on the system
- Governance: users can participate in voting for the development of the project
- Incentives: pay bonuses, reduced transaction fees and gas fees
Specifications
- Name: RUNE
- Symbol: RUNE
- Blockchain: THORChain
- Token type: utility, governance
- Total supply: 500,000,000 RUNE
- Circulating supply: 224,410,215.14 RUNE (45%)
Token Allocation
The total supply of 500,000,000 RUNE is distributed as follows:
- Liquidity Emission: 50%
- Operational Reserve: 13%
- Marketing: 12%
- Founders, Advisors: 10%
- Private Sales: 6%
- Pre-sale: 7%
- IDO: 2%
RUNE token Price today
How to buy RUNE
THORChain (RUNE) has been listed on Attlas Exchange.
Traders can easily and securely buy RUNE with lowest fees on Attlas Exchange.
Step 1: Download the app and register an account
Step 2: Select Market on the toolbar at the main screen
Step 3: Select Spot
Step 4: Find RUNE
Step 5: Select Buy
Summary
This article is an overview of THORChain (RUNE), not a financial advise.
Users are advised to do their own research before making any trading decisions.