You missed ETH at 300 USD don’t miss a highly potential project it’s just 7.9 USD
Guys, this project took me almost 2 weeks to analyze and do my research. A large number of useless and scam projects have been trending due to pump and dump and it was difficult to find the real gem. Every few days, the useless assets get dropped and they get replaced by brand new assets with higher value. DeFi (decentralized finance) is the future of the current broken system of Finance. The crypto coin that solves this problem is THORChain denoted by the symbol RUNE. The current price is $7.97 as of Oct.15th.
Why DeFi is the future?
Take a peek at the present state of our financial system. 1.7 billion people are unbanked around the world. Since conventional banking excludes small businesses, including those with a banking relationship, they must often rely on high-cost financings, such as credit cards. Retailers, who lose 3% on any credit card sale purchase, are also affected by high prices. By any measure, the overall costs for small companies are immense. As a result, there is less investment and economic development.
Decentralized finance refers to a peer-to-peer mechanism that is not governed by a central authority, such as a bank. There are no physical locations, chargebacks, or loan interviews. In a secure environment allowed by blockchain technology, you communicate with your peers algorithmically. By removing centralized institutions, prices are significantly reduced, making loans more affordable and deposit rates higher. Transactions are fast and discreet. Furthermore, everyone is treated fairly, ultimately democratizing finance and reducing the imbalance of opportunity that actually exists.
What is THORChain RUNE?
THORChain is a protocol for exchanging chains through several chains. Simply put, it means you can have BTC and use THORChain to trade it for ETH without having to deal with a centralized body. This is a game-changer since it did not happen previously. THORChain is helping solve one of the largest issues now over $40 billion DeFi market.
More details about THORChain can be read on https://coinmarketcap.com/currencies/thorchain/
Who uses THORChain?
Essentially there are two groups in the THORChain ecosystem. The first are the users, and the others are the liquidity providers.
Users are the primary network members who use THORChain’s cross-chain services to conveniently exchange tokens. These transactions take place between liquidity pools, with the customer paying a slip fee to cover gas costs and the exchange’s execution. Users’ switching is both non-custodial and unregulated.
The liquidity suppliers, who add liquidity to the numerous pools that power the exchange, are the second party that uses THORChain. RUNE tokens are used to connect this liquidity, which is then deposited in separate vaults powered by network nodes. THORChain eliminates the need for external market feeds or oracles by using a continuous liquidity pool. Liquidity suppliers benefit from the slip fees that customers pay.
How does THORChain work?
Thorchain’s mission is straightforward: to create bridges that allow everyone to safely and inexpensively transfer any assets between any blockchains.
Thorchain, like other cross-chain compatibility schemes like wrapped Bitcoin (wBTC), aims to enable the movement of the assets themselves on their home chains.
The first component of Thorchain’s solution is liquidity pools, which are all made up of RUNE tokens and other assets.
With a total market cap of $3 billion, it’s fair to assume that THORChain will gain access to 0.5 percent of those assets (due to first movers advantage). The protocol offers liquidity worth $15 billion. RUNE should have an MCap of $45 billion due to its protocol nature, equating to $90 per token (500,000,000 tokens in total supply)