THORChain is a decentralized cross-chain liquidity protocol that uses Tendermint, Cosmos-SDK, and GG20 TSS. It manages funds directly in on-chain vaults and secures them using economic security. The protocol allows people to swap native assets across multiple chains, no user-registration required, transparent and fair prices, and continuous liquidity pools that maximize the efficiency of the protocol.
The protocol was created in 2018 by a team of anonymous developers at the Binance Dexathon. That being said, the project encourages the community to contribute to the development by joining the dev channels.
How THORChain (RUNE) Works
THORChain is a system that lets people trade different digital assets without a central exchange. It's made up of different parts that work together as follows:
- The Bifröst Protocol helps different parts of THORChain talk to each other by syncing data.
- THORChain Vaults hold digital assets and are split into two types: inbound (Asgard TSS Vaults) and outbound (Yggdrasil Vaults).
- The THORChain State Machine takes care of the transactions by checking what needs to happen next.
- Once a transaction is finalized, information about it is saved in the Key-Value store.
THORChain also has some special features to make sure everything is safe and efficient:
- The system checks which vault has the most security and tells users to send their assets there.
- The system tops up each Yggdrasil outbound vault to make sure it has enough assets.
- When a vault isn't being used anymore, the system moves everything out of it to keep things secure.
The platform has a native token called RUNE, which is used for settlement, network security, governance, and incentives. However, users do not necessarily need RUNE to use THORChain.
How Many THORChain (RUNE) Tokens Are in Circulation?
RUNE token has a total supply of 500,000,000, among which 327,056,566 tokens are being circulated.
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THORChain (RUNE) Resources
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