ThorChain is a cross-chain decentralized liquidity network. Users will be able to stake on $RUNE $BNB and more.
THORChain recently announced the public unveiling of BEPSwap. The BEPSwap stakes BEP2 Assets and swaps between BEP2 assets. It connects with Ledger, Wallet Connect or Keystore. The Staking API is currently ~55%. All pools require RUNE. The Fund Cap is at 150k RUNE.
In the cross-chain env, THORChain should provide its own security. It makes this possible by ensuring that the nodes bond more capital than is staked.
THORChain is looking to scale. The current limiting factor is the amount that is bonded by nodes. The minimum bond is set at 30k and anyone who will be able to bond this amount will be able to become a node.
It is important to keep an eye on the FUND Cap because it increases every time the nodes bond more. The volume increases with more staking. Of note, some of the liquidity pools are now getting deeper than their centralized exchange counter-parts.
Also, it has been stated that Multi-chain swap is expected around Q4 and that it will add $eth and $btc swaps, with minimal fees. It is expected to be all fun.
Notably, THORChain are holding $1.5m in funds, and anyone can run a script to inspect its solvency all on their own. THORChain manages its funds in an async setting, 100% solvency isn’t possible, but it has eventual consistency. THORChain is fully-auditable, run by anon nodes.
The community are already super proud of the THORChain core team for shipping chaosnet! Of note the network reportedly already has over $600k staked, ~1.5mUSD TVL. The next major milestone is multi-chain, adding both $BTC and $ETH support $RUNE
Sydney Ifergan, the crypto expert opined: “ThorChain (RUNE) sure has a bright future because in the future it is going to be a crowded need for cross-chain swaps.”
ThorChain (RUNE) Nodes and Network
THORNodes service the THORChain network. Initially 99 are intended to be in place. Each THORNode is made up of several independent servers in a cluster. All of the THORNodes will communicate and operate in cooperation with each other to create a cross-chain swapping network.
Those who are looking to set up a node should do it manually, use Kubernetes, or set up via Provider, which is a feature set to come soon.
One of the community members tweeted $RUNE will only needs 2 parameters to become a very successful investment. One is for THORChain’s tech to work as intended, which is currently being tested and hopefully proven. The next is that Humans need to be greedy and strive for high yield for their assets. This has been proven already!
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