Instantly exchange THORChain at the best price and with the lowest fees on StealthEX. Free from registration, fast, and limitless RUNE swaps. You can see for yourself how convenient it is.
Price (USD)$ 1.41
Circulating SupplyRUNE 300.70056M
Volume (24h)$ 60.56267M
Market Cap$ 423.58314M
Low/High 24h$ 1.31 - $ 1.42
Change (24h)$ 0.089612
With the exponential growth of DEXs (Uniswap, Balancer, Synthetix, Curve or Aave to name just a few) doubts about usefulness and validity of these decentralized exchange protocols arise, because they focus on the Ethereum blockchain, being able to support only ERC-20 tokens and leaving aside a multi-blockchain commercial market, completely dominated by CEX (centralized exchanges).
THORChain (RUNE) is a project that tries to solve this problem, being a decentralized cross-chain marketplace, allowing the exchange of cryptocurrencies from different blockchains without third party custody.
Although there are many blockchains, the most important and interesting market today is without a doubt the Ethereum/Bitcoin bridge. With the growth of DeFi, the synergy between the two projects is greater than ever, and while solutions such as RenBTC, WBTC, sBTC or tBTC allow the use of a synthetic or ''pegged/ wrapped'' version of Bitcoin, these projects demonstrate the growing interest in ability to move from one blockchain to another in a decentralized way.
In addition to the possibility of bridging the two chains, all the projects cited above that seek to bring Bitcoin on the Ethereum blockchain demonstrate that Bitcoiners seek to generate passive returns with the Bitcoins they have. THORChain would be one of the first projects where native Bitcoins could be staked and generate returns by providing liquidity to the THORChain protocol without the need to transform it into a synthetic version (RenBTC, WBTC, sBTC or tBTC).
At this stage, the THORChain blockchain has a fairly classic operation model, which has been seen in many DAOs: there are four major actors with different roles.
The staker is in charge of providing liquidity to the system. The role of the staker is simply to place capital into a liquidity pool so that users can buy/sell different assets. Stakers get two types of rewards, the first is the swap fee, that is, the commissions that users are charged for exchanging one asset for another. The second type is what is called the system reward, it is the governance token of THORChain called RUNE coin.
The amount of staker’s profit depends on many factors, including the percentage of pool capital, the pool volume and price change of pool assets, the issuance program, and the price of the RUNE crypto.
The user, through the THORChain blockchain, can exchange one asset for another, as long as they are listed and blockchains are connected to the THORChain blockchain.
When one wants to exchange two assets of different blockchains, the THORChain protocol uses what is called Continuous Liquidity Pools; each pool is composed of a blockchain asset connected to THORChain and the RUNE coin.
Each asset of the protocol has its own pool with RUNE; and exchange between Bitcoin and Monero for example, involves the sale of Bitcoin for RUNE in the Bitcoin/RUNE pool and then the sale of RUNE for Monero in the Monero/RUNE pool. This operation is completely automated by the protocol.
The cost that the user has to pay to be able to exchange the assets is divided into two parts, the first is the swap fee that encourages the stakers to continue providing liquidity, and the second is the slippage that depends exclusively on the amount of the trade made.
These actors monitor the prices of the assets so that there are no serious lags between the market price and the price in the protocol. The arbitrators are not incentivized by the protocol itself.
The nodes, as in any blockchain, are the ones in charge of monitoring and validating the movements of the network assets. THORChain nodes work together to establish a network that monitors, validates, and transmits transactions on a network of various blockchains (Bitcoin, Monero, Ethereum, etc).
THORChain blockchain is based upon the connection of blockchains through liquidity pools connected to each other through the RUNE token. The protocol does not favor any particular blockchain and provides free trading, swapping and staking.
THORChain uses the Cosmos SDK framework based on Tendermint BFT (Byzantine Fault Tolerance). It also deploys Proof-of-Stake (PoS) for Sybil resistance
THORChain was founded in 2018. To protect the project's vision and mission, THORChain remains pseudo-anonymous, with no CEO, no founder, formal founders, executives and directors.
With the rapid growth of DeFi space, THORChain has great market opportunities: the project has only a handful of competitors, like Shapeshift and Uniswap.
RUNE is used in staking, as a settlement currency within liquidity pools, as a means of payment (all network transaction fees are paid in RUNE), as a means of reward ( Layer 1 validation nodes and Layer 2 liquidity nodes are paid in RUNE), as a means of chain governance and as a means of paying fees for sidechains’ creation.
Today RUNE price is $ 1.41. The best way to exchange your coins to THORChain is StealthEX. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in THORChain crypto, just go to StealthEX and follow these easy steps:
Also, you can study a detailed article with an exchange guide or watch a tutorial video on our YouTube channel.
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