Market Data & Token Stats
| Fully Diluted Valuation | $208.81M |
|---|---|
| 24H Trading Volume | $65.92M |
| 24H Low / High | $0.4920 / $0.5398 |
| Circulating Supply | 350.85M |
| Total Supply | 424.53M |
| Max Supply | 500.00M |
Market Health Signals
| Vol / MC Ratio | 38.20% Very High |
|---|---|
| Circulating Ratio | 82.64% Very High |
Key Project Information
| Categories | Decentralized Exchange (DEX) 9 more |
|---|---|
| Founder | Anonymous |
| Website | thorchain.org Whitepaper |
| Socials | 9 more |
| Explorer | Thorchain 2 more |
OGAudit Security Evaluation & Social Audit Metrics
OGAudit Coin Evaluation Metrics
THORChain (rune) Expert User Reviews
Is THORChain safe or a scam? Read verified Crypto OG reviews about THORChain
$rune Markets
| Name | Pair | OG Score |
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About THORChain
THORChain, introduced in 2019 through an Initial DEX Offering (IDO), has rapidly evolved into a decentralized liquidity protocol. This blockchain, built on the Cosmos SDK, operates as a cross-chain decentralized exchange (DEX), facilitating the seamless exchange of assets across various blockchain networks. At its core is the native utility token, RUNE, which serves as the backbone for the platform's unique features and functionalities.
Key Features and Operation:
THORChain employs an Automated Market Maker (AMM) model, reminiscent of pioneers like Uniswap. The twist lies in the native token, RUNE, acting as the base pair for swaps. In a two-step process, assets are first swapped for RUNE and then RUNE for the desired asset. This double-swapping mechanism enables decentralized asset swapping across chains in a non-custodial manner.
The protocol utilizes Continuous Liquidity Pools (CLPs), an adaptation of Bancor's smart tokens, to incentivize users contributing to liquidity pools. Liquidity providers (LPs) earn a share of trading fees for staking assets in these pools, encouraging active participation in the ecosystem. THORChain operates on a proof-of-stake consensus mechanism, rewarding node operators with RUNE tokens for securing the network and validating swaps.
Utility of RUNE Token:
RUNE serves as a multi-faceted utility token within the THORChain ecosystem. Beyond being the medium for decentralized swaps, it is used for governance, staking, bonding and as a reward mechanism. Staking RUNE provides users with voting power on governance proposals, emphasizing community involvement in decision-making.
Cross-Chain Operation:
THORChain's mission is to enable native asset settlement across diverse networks, allowing users to swap assets like Bitcoin, Ethereum and Stablecoins across nine distinct blockchains. The platform mitigates impermanent losses for liquidity providers through slip-based fees, ensuring liquidity remains where needed. THORChain does not wrap or peg assets but facilitates the direct exchange of value between different coins on various blockchains.
Use Cases:
THORChain opens doors to various use cases. Streaming Swaps enable the gradual execution of large swaps, minimizing fees for users. Savers can engage in single-sided liquidity provision, earning yield without facing impermanent losses. The platform also offers a Lending protocol, allowing users to borrow against native assets like BTC or ETH without liquidations, interest, or expiration.
Decentralized Governance and Development:
THORChain distinguishes itself by having no CEO, founder, or directors. Development decisions are made collectively through nodes on Gitlab, maintaining a decentralized structure. This anonymity is deliberate, aiming to safeguard the project's decentralization.
Conclusion:
As of June 2022, THORChain stands at the forefront of decentralized liquidity protocols, with 308 million out of 500 million RUNE in circulation. Its innovative approach to cross-chain swaps, user incentives and governance exemplify a commitment to decentralization and community-driven development. THORChain's journey from its initial chaotic stages to a live Mainnet showcases its resilience and potential in shaping the future landscape of decentralized finance.
THORChain mitigates impermanent losses through slip-based fees, ensuring liquidity stays where needed, creating a more sustainable environment for liquidity providers.
What is unique about THORChain (RUNE)?
THORChain stands out with its decentralized liquidity protocol, utilizing an innovative double-swapping mechanism and Continuous Liquidity Pools (CLPs) to enable non-custodial, cross-chain asset swaps.
Who are the founders of THORChain (RUNE)?
THORChain operates without traditional founders, embracing a decentralized development model where decisions are made collectively by nodes on Gitlab.
Who are the backers/investors of THORChain (RUNE)?
THORChain is unique for its decentralized structure, lacking a traditional CEO, founder, or directors.
Where can I buy THORChain (RUNE)?
You can buy THORChain (RUNE) on Binance, Bybit, Gate.ioMEXCKraken cryptocurrency exchanges.
Information in this section carefully collected and curated from publicly available data from official sources, including the THORChain Official Website, THORChain Whitepaper, THORChain GitHub Repository and THORChain X (Twitter) Account.
The information presented on this page is created and published by the OGAudit Editorial Team for educational and informational purposes. It should NOT be construed as an endorsement, or as legal, or investment advice. If you believe any content on this page is outdated or incorrect, please feel free to contact us for updates and corrections.
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