Thorchain
ThorchainName
Thorchain
Summary
-THORCHain is a decentralized liquidity protocol
-There is no CEO, no founder, and no board of directors for this project. Instead, Gitlab is used to manage the platform's future development.
-The Tendermint consensus mechanism is used to power THORChain
Rating
Symbol
RUNE
Overview
THORCHain helps the users to effortlessly swap bitcoin assets across many networks while maintaining complete custody of their assets.
Users can swap one asset for another in a permissionless context with THORChain, eliminating the requirement for order books to source liquidity. Instead, market values are maintained by the asset-to-asset ratio in a pool.
To effortlessly support cross-chain token exchanges, THORChain incorporates a number of unique technologies, including on-way state pegs, a state machine, the Bifröst Signer Module, and a TSS protocol. All of this is hidden behind the scenes, allowing even unskilled traders to use the platform.
Historical Price Movement (in INR)
Technology
The Tendermint consensus is constructed using the Cosmos SDK. A unique BFT proof-of-stake (PoS) method sees many validators work together to propose and finalize blocks of transactions keeping the network safe from attacks.
THORChain's smart contracts have also been reviewed by several third-party security firms, including Certik, which discovered no flaws. THORChain was developed with go language as its primary language for the development of the chain.
Use of native tokens in the ecosystem
RUNE is the THORChain platform's native utility token. Since THORChain nodes must commit a minimum of 1 million RUNE to participate in its rotating consensus process, this is utilized as the base currency in the THORChain ecosystem. It is also used for platform governance and security as part of THORChain's Sybil resistant capabilities.
Liquidity Emission
50%
Operational reserve
13%
Marketing
12%
Founders, Advisors
10%
Private Sales
6%
PreSale
7%
IDO
2%
Volume (as of 21st March 2022)
$428,476,671
Total Supply
334937975
Circulating Supply
330,688,061.33 RUNE
Crowd Sales
-
Funding
1/12/2019: Strategic round-NA, 1/07/2018: IDO-$0.22M, 1/07/2018: Private sale-$1.61M, 1/12/2018: Seed round-$0.60M
Country
Switzerland
Name of Organization
Thorchain
Year Incorporated
2018
Registration Number
NA
Registered Address
NA
Dispute Resolution and Governing Law
Switzerland
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Erik Voorhees | Founder and CEO of ShapeShift | University of Puget SoundBA, Business Leadership and Political Economics | 13 Yrs |
https://crebaco.com/planner/admin/uploads/whitepapers/4154200THORChain-Whitepaper-May2020.pdf 
