THORChain is a decentralized and autonomous network that provides liquidity for cryptocurrencies across multiple blockchains. THORChains decentralized, cross-chain crypto liquidity provisioning service is available for users, products, and institutions.

THORChain offers a permissionless, community-driven platform for users and products to provide liquidity and swap cryptocurrencies across multiple integrated blockchain networks. RUNE is the native token of the THORChain network, offering the economic incentives necessary to secure the ecosystem.

Put simply, the immutable, cross-chain DEX THORChain functions on the lines of Uniswap. However, one key difference is that Uniswap works on the Ethereum ecosystem to support Ethereum-based digital assets. On the other hand, THORChain DEX is a multi-chain DeFi offering, letting users swap crypto assets across supported blockchains.

The multi-chain THORChain DEX supports swapping and liquidity provisioning for native Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB), Bitcoin Cash (BCH), Cosmos (ATOM), and ERC-20 and BEP2 tokens.

THORChain acts as a decentralized vault manager supporting 1-way State Pegs to sync state from external blockchains. A State Machine coordinates the logic for asset exchange and delegates outgoing transactions on the network.

The Bifröst Chain Client processes chain-specific transactions on THORChain. The platform also consists of a TSS protocol that supports distributed threshold key-signing.

Each THORNode utilizes the Bifröst Protocol, which handles cross-chain connections. The synced nodes monitor vault addresses. Any inbound transaction is read and converted into a THORChain witness transaction by the THORNodes.

After a transaction is processed within the decentralized liquidity network, the consensus among most nodes is required to finalize the transaction. The THORChain State Machine then processes this finalized transaction, whether for swapping or staking and delegates it to a vault before creating a Transaction Out (txOut) item.

The txOut contains information about which chain it should be sent on, the destination address, the vault from where the crypto needs to be sent, and the maximum gas fees for the transaction. The Transaction Out also contains information about InHash (the initiating transaction, and OutHash (the transaction completing the accounting).

THORChain was founded in 2018 by a team of anonymous developers as a non-custodial and decentralized alternative to centralized exchanges for exchanging cryptocurrencies during a Binance hackathon. The THORChain platform was developed as an independent blockchain network that could bridge to other blockchains to support cross-chain token swaps, transfers, and liquidity provisioning.

The RUNE token was launched with a max supply of 500 million in 2019. During the THORChain ICO, the RUNE price was around $0.03.

The Tendermint-based Layer-1 protocol uses the Tendermint consensus mechanism with Byzantine Fault Tolerance (BFT) and proof of stake for Sybil-resistance. The THORChain team announced BEPSwap (now THORSwap), an AMM on the Binance Chain, in July 2019 to allow users to swap and stake BNB and other BEP2 assets.

THORChains public testnet was launched in June 2020, supporting several leaderless nodes, staking, earning rewards in RUNE, and slashing RUNE bonded by THORNodes. The multi-chain THORChain mainnet Chaosnet went live on 13 April 2021.

Although it is impossible to make an accurate THORChain price prediction over any duration, the protocol has solid fundamentals that suggest a future pick-up in the RUNE price. As of August 2022, the THORChain price remains well below its all-time high of above $21.

Based on its price performance, the THORChain price forecast suggests an uptick towards reclaiming the ATH level backed by supporting fundamentals. Integration with more blockchains to increase its cross-chain liquidity ecosystems scope could power an uptrend in the THORChain price in the future.

In addition, higher adoption of its technology could also power bullish moves in the RUNE price and increase the value of THORChain crypto as a good investment opportunity. The current price of THORChain and market cap could also head higher amid generally positive sentiment in the crypto market.

As the price of Bitcoin and Ethereum tick higher, investor confidence in digital assets could pick up. This could encourage more buying activity in THORChain and propel the RUNE price upwards, making it an exciting crypto asset to invest in.

The RUNE token is the native digital asset of THORChain and powers the network. It has several applications, including:

Liquidity Token

The RUNE crypto is locked in THORChain liquidity pools with external crypto assets in a 50:50 ratio. As the value of the crypto assets locked in liquidity pools fluctuates, the RUNE in the pool will also vary through arbitrage.

Security Token

The THORChain uses a proof of bond consensus mechanism. Each THORNode bonds a specific number of RUNE within the network, which is then used to underwrite assets in the liquidity pools. The bonded RUNE is also used to penalize any misbehaving THORChain nodes to ensure network security.

Governance Token

RUNE token holders enjoy priority in listing new assets in a liquidity pool. THORNodes can also vote on changing network parameters within the THORChain ecosystem using a node-mimir mechanism.

Incentive Token

As the native cryptocurrency of the THORChain network, the RUNE token is used to pay transaction fees by users. Token swaps on the ecosystem are charged network fees and slip-based fees in RUNE crypto.

Crypto Asset to Trade and HODL

THORChain (RUNE) is one of the most popular cryptocurrencies listed and traded on exchanges. To maximize your portfolio value, you can buy or sell THORChain against other cryptocurrencies, stablecoins, and even fiat currencies.

You also have the option to HODL RUNE long-term if you believe in the future potential of the THORChain protocol. Review the current THORChain price, RUNE live market cap, current circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the RUNE price chart before you trade THORChain.

Earn Passive Income

You can also invest in RUNE as a way to grow your crypto portfolio in a safe and risk-free manner. Use the BYDFi Crypto Lending feature to lend liquidity for RUNE to our platform. Earn exciting daily interest over seven days, 14 days, or 28 days, for your contribution and grow your RUNE holdings by putting your crypto to work.