Convert RUNE to KRW

RUNE is the native token of the THORChain network, a decentralised cross-chain liquidity protocol that enables users to swap assets across different blockchains without relying on centralised intermediaries or wrapped tokens.

Key takeaways

• RUNE is the native asset of THORChain, a decentralised cross-chain liquidity protocol that facilitates trustless swaps between different blockchains.
• The token has a fixed maximum supply of 22,530 RUNE, making it a deflationary asset by design.
• RUNE is used for transaction fees, network security through staking, and governance within the THORChain ecosystem.
• THORChain’s unique architecture allows for native asset swaps without the need for wrapped tokens, reducing counterparty risk.
• The protocol uses a Tendermint-based consensus mechanism, ensuring high throughput and finality.

What is RUNE? Key Specifications & Tokenomics

RUNE is the native utility token of the THORChain network, a decentralised cross-chain liquidity protocol built on the Cosmos SDK. It serves as the backbone of the network, facilitating liquidity provision, transaction fees, and network security through staking. Unlike many other DeFi tokens, RUNE has a fixed maximum supply of 22,530 tokens, which is significantly lower than most cryptocurrencies, making it a scarce asset within its ecosystem.

Who created RUNE (RUNE)?

RUNE was created by the THORChain development team, which is led by a group of anonymous developers known as the "THORChain Developers." The project was initially conceptualised in 2018 and launched its mainnet in 2021. The core team includes individuals with backgrounds in blockchain development, cryptography, and decentralised finance. The project is governed by the THORChain community through a decentralised autonomous organisation (DAO) structure, where RUNE holders can vote on protocol upgrades and key decisions. The development is funded through a portion of the network’s transaction fees and a community treasury.

How does RUNE (RUNE) work?

RUNE operates on the THORChain network, which uses a Tendermint-based consensus mechanism to achieve high throughput and finality. The protocol functions as a decentralised cross-chain liquidity pool, where users can deposit assets into liquidity pools and earn fees from swaps. RUNE is used as the base asset for all liquidity pools, meaning that every swap involves RUNE as an intermediary. For example, swapping Bitcoin for Ethereum would involve converting Bitcoin to RUNE and then RUNE to Ethereum. This design ensures that all pools are interconnected and that liquidity is efficiently allocated across the network. Validators secure the network by staking RUNE, and in return, they earn a portion of the transaction fees and block rewards.

What makes RUNE (RUNE) unique and valuable?

RUNE’s primary value proposition lies in its role as the native asset of THORChain, which is one of the few protocols that enables native cross-chain swaps without the need for wrapped tokens or centralised intermediaries. This reduces counterparty risk and enhances security for users. Additionally, RUNE has a fixed maximum supply of 22,530 tokens, making it a deflationary asset by design. This scarcity, combined with the growing demand for cross-chain liquidity, contributes to its long-term value. The protocol’s unique economic model, where RUNE is used as the base asset for all liquidity pools, ensures that the token is deeply integrated into the network’s operations, creating a strong demand driver.

What is RUNE (RUNE) used for?

RUNE serves multiple purposes within the THORChain ecosystem. It is used as the primary asset for liquidity provision, where users deposit RUNE along with other assets into liquidity pools to earn fees from swaps. It is also used for transaction fees on the network, with a portion of the fees being burned to reduce the circulating supply over time. Additionally, RUNE is used for staking to secure the network and participate in governance. RUNE holders can vote on protocol upgrades, fee structures, and other key decisions through the THORChain DAO. The token is also used as a medium of exchange within the ecosystem, facilitating cross-chain swaps between different blockchains.

How to buy RUNE Coin?

RUNE is a popular cryptocurrency listed on many exchanges. However, it is recommended to trade on a major platform like BTCC Exchange for higher liquidity and better customer support.

1. Register a BTCC Account:
   Sign up using your email or mobile number and complete the KYC verification to unlock more features and benefits of the platform.
2. Deposit Funds:
   Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. You can follow this guide.
3. Start Trading:
   Go to the trading page and search for the spot trading pair RUNE/USDT or the perpetual contract RUNE/USDT.
4. Place an Order:
   Enter the amount of RUNE you wish to purchase and submit the order. For contract trading, you can also choose to go short (sell) and adjust the leverage multiplier according to your strategy and risk tolerance.
5. Confirm Your Purchase:
   For spot purchases, check your personal account to see if the coins have arrived. For contract trades, check the trading page to see if your order was filled successfully.