What is THORChain (RUNE)?

THORChain is a decentralized liquidity protocol that facilitates asset settlements between Bitcoin, Dogecoin, Litecoin, Bitcoin Cash, BNB Chain, Avalanche, and Cosmos Hub blockchain networks without wrapped or pegged assets. It uses AMM (Automated Market Makers) to swap its blockchain assets without an order book.

RUNE is the native utility token of the THORChain platform. Users can spend it as the base currency in the THORChain ecosystem. RUNE also powers the platform's Proof of Stake governance by giving its owners a say in important decisions.

RUNE has a total supply of 500 million tokens, with a circulating supply of 335 million tokens at the time of writing.

How Does THORChain (RUNE) Work?

THORChain is an independent layer-1 blockchain that facilitates cross-chain asset swapping. It is built using the Cosmos blockchain and SDK (Software development kit). THORChain uses automated market makers (AMMs) and decentralized exchanges that pool asset liquidity from user funds to facilitate the inter-blockchain swapping of assets. These AMMs set a price for the pool assets according to their proportion in the pool.

Through these AMMs, THORChain can make direct swaps between different blockchains. Each of its validators runs a full node of every network on which swaps are possible through THORChain. This means that all THORnodes run clients on Bitcoin, Binance SmartChain, Avalanche, Ethereum, Litecoin, etc. THORChain contains vaults in each of these networks. These vaults have the network's native currency (BTC, BNB, AVAX, ETH, LTC, etc.) and RUNE, the native currency of THORChain. The THORnodes handle the transactions that come into these vaults and verify them in consensus. After that, they initiate the requested swaps on the other blockchain, enabling the user to receive their requested crypto in exchange for their crypto without any third-party custodian. For instance, if someone wants to swap their ETH to BTC using THORChain, they send their ETH to the ETH/RUNE pool, where the nodes transfer the RUNE worth the sender's ETH value to the BTC/RUNE pool. This way, the user gets BTC worth the ETH they swapped. Those who deposit assets in the liquidity pools of THORChain are called liquidity providers and earn a yield from their deposited assets.

With its proof-of-stake (PoS) network, THORChain leverages the Tendermint Byzantine Fault Tolerance (BFT) engine to avoid node failures. Under it, each node gets a disincentive for malicious behaviour and needs to stake much more than it can get from acting maliciously. Moreover, the nodes work anonymously so as not to group themselves into centralizing the network.

How to Buy THORChain (RUNE) in India?

There are many platforms where you can invest and Buy THORChain (RUNE) in India.

One such platform is Flitpay. To buy RUNE in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy RUNE and execute the purchase.

You can instantly convert your INR to RUNE and RUNE to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After Buying THORChain (RUNE)?

RUNE can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the RUNE till it reaches a high price, and then you can sell it through Flitpay's OTC order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

FAQs

What is THORChain (RUNE)?

RUNE is the native currency of the THORChain, a layer-1 liquidity protocol. Users of THORChain can use RUNE to settle transactions, provide liquidity, and pay network fees. They also get to participate in the consensus and governance of the network and earn incentives.

What is the THORChain (RUNE) price in India?

Check out the current INR price of RUNE crypto in India on Flitpay.

Which is the best crypto exchange in India to buy RUNE?

Flitpay is the best crypto exchange app in India to buy RUNE, buy bitcoin, or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of THORChain (RUNE)?

THORChain (RUNE) allows crypto holders to swap their assets without involving centralized custodians or opting for risky methods. Moreover, it eliminates the limitations of token swapping that exist in the popular DEX platforms, which communicate with only one underlying blockchain. A special fact about THORChain is that it swaps assets without involving any wrapped assets with serious security risks. Thus, it establishes some important use cases for itself in the crypto space.

Is it safe to invest in THORChain (RUNE) in India?

Yes, investing and trading RUNE is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying THORchain crypto. It offers real-time prices and advanced investing features.