THORChain is a decentralized liquidity network that allows users to swap assets at market-resistant prices instantly. Swap transactions are facilitated through cross-chain liquidity pools, enabling users to risk their assets to earn trading fees.
What is Thor Chain?
THORChain is a liquidity protocol based on Tendermint and Cosmos-SDK and uses Threshold Signature Schemes (TSS) to create a liquidity market for digital assets traded without the need for third-party trust, special authorization, and in an unsupervised manner. THORChain’s liquidity market design eliminates the need for an order book when exchanging one asset for another, providing auxiliary benefits, including resistance to manipulation and on-chain price feeds.
In addition, THORChain can remain independent of any chain, does not stipulate a specific asset or Blockchain, and is scalable without compromising security.
According to statements, there are four fundamental roles in the system:
- Stakers who are paid to provide liquidity
- Swappers who use liquidity to temporarily exchange assets and pay a fee
- Investors who continuously monitor and rebalance pools, paying fees and making a profit
- Node operators who provide collateral and are paid to secure the system
Moreover, in the Thor chain ecosystem, there are various platforms including BEPSwap, Asgardex, Midgard, and THORNodes.
What is Rune Coin?
RUNE is the asset that powers the THORChain ecosystem and provides the economic incentives necessary for securing the network. According to explanations, RUNE can be used in the platform for four purposes:
- Liquidity
- Security
- Governance
- Incentives
According to the platform, RUNE Coin is the base currency of THORChain and must be staked alongside every asset in the pools. Without a native payment currency, it would be necessary to pool each asset with all others, ultimately leading to the creation of hundreds of new pools for just one new asset, reducing liquidity. However, the use of a single asset has eliminated this possibility.
Additionally, RUNE, the platform’s base currency, is also used as a transaction fee on the network.
Additionally, according to CoinMarketCap data at the time of the article’s preparation, RUNE Coin was trading at $0.8561 and at 0.00007318 BTC against Bitcoin. Thor Chain Coin ranks 85th in terms of market cap with $135,645,082. Also, there are currently 158,432,088 RUNE in circulation, with a total of 500,000,000 targeted.
It is also worth noting that the RUNE coin saw its highest price level on August 15 at $1.04 and its lowest level on September 27, 2019, at $0.0079.
RUNE Coin Review
After reaching its peak on August 15, Thor Chain Coin became popular, and an increase in searches such as “RUNE Coin Binance, buy RUNE, acquire RUNE Coin” was noted. Especially after being listed on Binance, RUNE saw an increase in market cap rank from 400th to the 85th as mentioned above, due to the listing and price increase effects.
Analysts believe that the platform behind RUNE coin is solid, so the token continues on its path steadily. Besides, the project’s relative novelty is another factor that attracts attention.
How to Buy Thor Chain Coin?
You can safely purchase Thor Chain Coin through Binance, one of the world’s largest and most well-known exchanges.
