An Introduction to THORChain for Bitcoiners

The original laser eyes
  1. It is the asset in which fees are charged to traders and paid to validators and Liquidity Providers (LPs).
  2. It is used for THORChain governance (1 RUNE = 1 Vote, but governance is limited to signaling priority for assets and chains).
  3. It is the asset that validating THORnodes must post as bond for the privilege (and responsibility) of validating transactions.
  4. It is the asset to which LPs must pair every deposit. It is recommended that an LP depositing $100k in BTC also deposit $100k in RUNE at the same time. If they don’t, half of their assets will be swapped for RUNE under the hood.
thorchad

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store