THORChain Price (RUNE)

The assets supported by the network can be easily swapped via a peer-to-peer connection. It’s important to connect the wallet for it. The process of swapping is easy. There is clear guidance inside the wallet telling users what to do. The token swaps are conducted without delay at a small fee.

There is a possibility to earn Thorchain native utility token of the network, which is RUNE, by staking it. Stakers can also get block rewards. There is also a possibility to run nodes for the members of the community who want to earn rewards. Thorchain nodes are used to maintain and protect the network by the verification of the authenticity of transactions. Those who run the nodes monitor transactions on external chains, operate the protocol, and approve of the outgoing transactions. Node operators get two-thirds of the network fees. The refreshment of the nodes occurs every three days for the promotion of the network. It helps them to remain dynamic and inclusive. It’s also possible for the nodes to leave when users wish. It’s only needed to submit the request for that, which is processed within several hours.

It’s necessary to have high-performance hardware and software at your disposal if you want to run a validator node. Additionally, such a person should stake at least 1 million RUNE. Though it may seem that the requirement is too strict, the compensation for their work is worth it. The bond rewards as they are called make 67% of the system’s revenue. At this, the share of liquidity providers is 33%. The rules also presuppose the penalties of node operators for wrong behavior, for instance, when they try to defraud the network.

Thorchain products

The products of THORChain include BET Swap, the application enabling BNB BEP2 token holders to swap assets, deposit assets for liquidity, or to earn commissions from traders. This is also a way to derive a higher benefit from trade.

Flash Network is another product developed by the team. A layer-2 network helps to support instant asset swaps, exchanges between the numerous tokens and liquidity pools. It’s worth mentioning that it’s compatible with such efficient layer2 technologies as Lightning Network, Bolt, and Raiden. RUNEVault is a staking interface enabling staking and earning rewards for it. The Bitfröst Protocol is a cross-chain protocol that delivers connectivity between blockchains thus solving one of the most topical problems of the blockchain, i.e. its interoperability. Using this protocol, the members of the community are able to trade easily across any blockchain.

RUNE token

The native token of the platform RUNE was launched in June 2019 on the Binance blockchain. The platform issued 500 million tokens. The token was listed on Binance and was distributed to the community members free of charge for promotion services.

RUNE is a utility token that plays an essential role in the development of the ThorChain ecosystem. RUNE is used for staking as was mentioned above. The system of the nodes management requires the staking mechanism. The native token is needed to pay for transactions within the ecosystem and other fees. Also, the liquidity added to the network should be supported by RUNE in Continuous Liquidity Pools. It’s necessary to have native cryptocurrency to join Liquidity Hubs. It means that RUNE works as a settlement currency for the network as well. The swaps are non-custodial and no third party is involved in them. It’s possible to swap funds directly from the wallets supported by the network.

The number of exchanges offers this cryptocurrency paired with the most popular digital assets such as Bitcoin, Tether, Ethereum, and others. The asset can be purchased on such exchanges as FTX, BitMax, Binance, and Bilaxy. Being a BEP-2 compliant token, it is supported by the Binance wallet, hence the storage in this wallet is available. Additionally, users can resort to such solutions as Atomic Wallet, Ledger, Guarda, Trust Wallet, etc.

ThorChain team

The company behind the project is headquartered in Zug, Switzerland. The team doesn’t disclose the personalities of its members for the protection of the project, as they assert, saying that founders try to undermine the process of decentralization.