THORChain Price in USD: RUNE Live Price Chart & News | CoinGecko

THORChain price today is $ 1.59 with a 24-hour trade bulk of $ 38,066,494. RUNE price is down -3.1 % in the last 24 hours. It has a circulating supply of 300 Million RUNE coins and a sum supply of 500 Million. If you are looking to buy or sell THORChain, Binance is presently the most active exchange. THORChain hit an all time high of $ 20.87 on May 19, 2021 ( over 1 year ). THORChain had an wholly time gloomy of $ 0.008512638584 on Sep 28, 2019 ( about 3 years ). The 24 hour trade volume of THORChain is $ 38,066,494.

You can trade THORChain on Binance, HitBTC, and Bitget. democratic trade pairs for THORChain in the market includes RUNE/USD, RUNE/CAD, RUNE/AUD, RUNE/GBP, RUNE/INR, and RUNE/PHP .

What is ThorChain

ThorChain is a decentralized fluidity network with an interoperable blockchain that allows cross-chain token swaps in a non-custodial manner. It does not peg or wrap assets, but just allows users to swap tokens across diverse Layer 1 blockchains. so, traders on ThorChain can seamlessly move from Bitcoin to Ethereum, to Polkadot and etc. without having to register for an exchange or go through KYC, like on CEXs. Hence, users are minimally exposed to hands and counterparty risks .

What is RUNE

ThorChain ’ mho consensus is proof-of-stake and built on Tendermint ( Cosmos ), with network validators ( nodes ) required to adhere their native token, RUNE. RUNE has a token model that increases in value as the utilization of the network grows. This means that the more fluidity is deposited into ThorChain fluidity pools, the more valuable RUNE gets .
RUNE is needed for two fundamental reasons :
( one ) In liquidity pools, it acts as a establish match so a 1:1 proportion of ASSET : RUNE is required ( e.g. BNB .RUNE, ETH.RUNE ). This is because ThorChain does not actually operate by lineal asset transfer, it needs RUNE to move from one asset into another and to activate ThorChain ’ s Bifrost Protocol. This protocol is the bridge that enables multichain connectivity within ThorChain and requires RUNE to operate .
( two ) RUNE is bonded as collateral by nodes for security sake following a 2:1 bond : stake proportion. therefore, RUNE is not intended to be a government token. ThorChain will be governed more like Bitcoin, where nodes running can determine what direction it takes. This besides means that ThorChain is not only express to traders looking to trade blot tokens. It is besides intended to be used by liquid providers and node operators .
consequently, with a 2:1 shackle : stake proportion, combined with the 1:1 pond impale proportion, the sum of RUNE needed in the influence is thus three times the measure of the non-RUNE assets locked. This 3:1 proportion is just the minimum value of RUNE.

RUNE serves these five purposes
1. fluidity : as a settlement asset

2. security : As a sybil-resistant security measurement and a beggarly for driving economic behavior

3. administration : To signal precedence on-chain

4. incentive : as part of incentive mechanism, RUNE is used to pay out rewards, appoint fees and subsidize accelerator

5. Amplifier : to elevate assets that are on ThorChain
Users who utilize ThorChain ’ s cross-chain services between the pools will need to pay fixed network fees a well as a variable slip fee. The fee is paid due to natural gas fees on external services and for fast execution. Besides offering a seamless service to traders, users can besides become fluidity providers on ThorChain .
liquidity providers on ThorChain can add liquidity to versatile pools, which are then tied to RUNE in a break vault. The project ’ s continuous Liquidity Pool ( CLP ) incentivises any ThorChain player to supply liquid in change for a reward. The CLP is one of the basis concepts driving the project, chiefly because it is an economic paradigm that is a solution to liquid dearth issues faced by most exchanges. ThorChain ’ second CLP has its own on-chain and trustless ‘ basket ’ of fluidity and incentivising engagement in filling it, which means that thorchain ’ sulfur liquidity pool is a unique exchange environment that never requires a pair of buyer and seller to transact. The Bifrost protocol besides tracks the ratio of RUNE to the asset in the CLP .

How does ThorChain differ from others?

The attraction of ThorChain is that its chain-agnostic feature of speech allows it to swap assets on a real basis. Unlike Ren, there is no wrap BTC ( e.g. renBTC ) being created. alternatively, we would be able to swap real ETH for real BTC. This is a milestone, as presently the closest Bitcoin is to DeFi is in its envelop form. frankincense, ThorChain brings BTC into DeFi .
furthermore, as the network of new smart contract platforms grows ( i.e. Solana and Polkadot ), the number of chains is growing. The diversity of chains engenders the need for a trust-minimized and decentralize means to trade/swap tokens across chains, such as ThorChain. Currently, ThorChain is working on Polkadot, Solana, Monero, Cosmos ( ATOM ) and such, in prediction of the launch of its mainnet .

so, what sets ThorChain apart is its cross-chain feature – which enables any asset to be swapped, and a pool created around it. This opens a unharmed new world of possibilities for DeFi users and its ecosystem alike. ThorChain has seen its popularity rise as it gained the attention of Multicoin Capital, where they announced that RUNE represents one of their largest populace positions, because they believe that ThorChain plays an increasingly critical function within the crypto ecosystem. presently, the multichain testnet is available and the mainnet is so far to be launched .

How to get RUNE?

You can obtain RUNE from Uniswap, or Binance. You can besides find rune deal on assorted decentralize cryptocurrency exchanges.

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