The host of popular crypto show “Coin Bureau” says that $RUNE, which is the native asset of decentraized cross-chain liquidy protool THORchain, is poised for massive gains in the coming months.
Here is how the official documentation from the team introduces THORChain:
“THORChain is a decentralised cross-chain liquidity protocol based on Tendermint & Cosmos-SDK and utilising Threshold Signature Schemes (TSS). It does not peg or wrap assets, it simply determines how to move them in response to user-actions.
“THORChain observes incoming user deposits to vaults, executes business logic (swap, add/remove liquidity), and processes outbound transactions. THORChain is primarily a leaderless vault manager, ensuring that every stage of the process is byzantine-fault-tolerant.
“THORChain’s key objective is to be resistant to centralisation and capture whilst facilitating cross-chain liquidity. THORChain only secures the assets in its vaults, and has economic guarantees that those assets are safe.“
As for $RUNE, it is “the asset which powers the THORChain ecosystem and provides the economic incentives required to secure the network.”
In a YouTube video (released on October 28), Coin Bureau’s host “Guy” told his over 1.5 million subscribers that $RUNE is reversing the trend towards centralization.
Guy said the cryptocurrency industry was beginning to resemble “another arm of the existing financial system,” with more projects adopting know-your-customer (KYC) policies, methods of surveillance and centralization.
As reported by The Daily Hodl, he said:
As time goes on, cryptocurrency is starting to look like just another arm of the existing financial system. Everywhere you go, you need to provide KYC [know-your-customer]. Almost all of the services you use involve an intermediary and everything you do is tracked to a T.
Coin Bureau’s host called the trend towards surveillance and centralization “concerning, to say the least.” Guy identified THORChain as a project “working to keep this industry free” and thereby poised to benefit from investors looking to support decentralized efforts.
Guy also explained how the project’s blockchain had been revamped after a series of hacks in June forced the development team to re-evaluate their protocol.
He gave three reasons for $RUNE’s recent rally:
“Firstly, now that THORchain is back online it means more cryptocurrency will be added to THORchain’s various vaults. Because THORchain nodes must stake 1.5 times the value of RUNE for the value of the cryptocurrency in THORchain’s vaults, this creates buying pressure for RUNE as more crypto is deposited into these vaults.
“Secondly, THORchain liquidity providers depositing the crypto into THORchain vaults must pool an equivalent of RUNE for those assets too, meaning they will also buy more RUNE.
“And thirdly, users of THORchain’s various DEX [decentralized exchange] front ends must pay for all transaction fees in RUNE, which turns them into a third demand vector for RUNE.“
Guy predicted that the “sky’s the limit” for $RUNE’s price due to the value of the THORChain protocol and claimed that $RUNE had a realistic chance of going to 3X its current price in this bull cycle.
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