How to Buy THORChain (RUNE)

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 KuCoin 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.

The RUNE crypto has a max supply fixed at 500 million by the THORChain developers. As of August 2022, the circulating supply of the THORChain token stands at over 330 million.

During the THORChain IDO in July 2019, the project developers allotted 10% of the token’s total supply to themselves and locked them till the mainnet launch. 20% of these tokens have been unlocked every month since then.

Most of the allocated tokens were sold to raise funds for developing the THORChain protocol. At the time of writing, the team of developers behind the project owns less than 1% of the max supply of RUNE crypto.

You can stake RUNE by becoming a liquidity provider on THORSwap (formerly BEPSwap) to earn attractive APYs and grow your crypto holdings. Here’s how to become one of many THORChain liquidity providers:

1. Open the THORSwap app and connect your digital wallet to it. Ensure your wallet is funded with sufficient RUNE for staking by buying RUNE on KuCoin or other supported platforms and transferring your tokens into the wallet.

2. Click on the Deposit option on the left side of the page and select the RUNE pool from the list of options.

3. Click on the “Add” button on the top right corner of the page that opens next.

4. Enter the number of RUNE coins you wish to stake or deposit into the liquidity pool. As you contribute to a liquidity pool, you also need to enter the number of tokens of the other crypto asset in the pair.

5. Confirm the transaction through your wallet after verifying all details.

6. Sit back and earn rewards in RUNE for providing liquidity to THORSwap.