The live price of THORChain is - per (RUNE / USD) with a current market cap of $608.73M USD. 24-hour trading volume is - USD. RUNE to USD price is updated in real-time. THORChain is -% in the last 24 hours with a circulating supply of 351.51M.
| Date Comparison | Amount Change | % Change |
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| Today | - | 0% |
| 30 Days | - | 0% |
| 60 Days | - | 0% |
| 90 Days | - | 0% |
THORChain (RUNE) is a Layer 1 blockchain protocol built using the Cosmos SDK and Tendermint, offering enhanced security. According to THORChain itself, the protocol is dedicated to enabling seamless swaps between Layer 1 cryptocurrencies in a permissionless, fully decentralized, and barrier-free environment.
The liquidity used for token swaps on the THORChain network comes from assets locked by token holders in liquidity pools. Token holders lock various assets in the platform’s existing pools in exchange for yields and rewards. THORChain has gained significant attention as an effective bridge for swapping popular cryptocurrencies like BTC and ETH and for engaging in yield-generating activities.
RUNE is the native cryptocurrency of THORChain and is used to facilitate the operation and implementation of the THORChain protocol.
Reportedly, THORChain has no CEO, founder, or board of directors. To this day, the project is managed and operated by a largely anonymous team. However, they do use GitLab to manage the ongoing development of THORChain.
THORChain was initially developed in 2018 by a team participating in the Dexathon competition, a programming contest sponsored by Binance. Although the team launched a testnet version of THORChain in 2018, it was upgraded in April 2021, and the full mainnet was officially launched in June 2022.
In the decentralized cross-chain liquidity protocol THORChain, "bonding" refers to depositing a certain amount of RUNE into liquidity pools as collateral to gain the right to become a liquidity provider and earn a share of the transaction fees generated by the pool. The amount of RUNE required for bonding depends on the bonding ratio (2:1), meaning for every $2 worth of assets bonded, $1 worth of RUNE must be staked in the pool. This bonding process helps ensure the network's stability and security, as the staked RUNE serves as a buffer in case of potential losses during transactions.
The maximum supply of RUNE is 500 million tokens. At the time of writing, the circulating supply is approximately 327 million tokens.
RUNE is used throughout the THORChain ecosystem. One of its primary roles is to serve as the base pair asset for swapping available digital assets on the THORChain platform. In addition, RUNE is also used for network governance, staking, and bonding.
As a Layer 1 blockchain solution, THORChain operates using Tendermint and Threshold Signature Scheme (TSS), adopting a Byzantine Fault Tolerant (BFT) consensus mechanism. BFT allows the network to isolate malicious nodes and protect the rest of the system from manipulation without interrupting network operations.
THORChain is a standalone network, which sets it apart from many projects that choose to build Layer 2 protocols without independent operation. By pairing assets with RUNE, THORChain is able to aggregate and bond various Layer 1 digital assets. It also gained attention for its initial launch on Binance and Ethereum mainnets.
The THORChain to other currencies exchange rate?
