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THORChain (RUNE) is an independent blockchain, cryptocurrency, and cross-chain decentralized exchange (DEX). The platform combines a variety of proprietary protocols to accomplish these functions. Notably, ThorChain’s development team created the platform with the goal to power the next generation of cross-chain decentralized exchanges.

What Problems Does THORChain (RUNE) Solve?

THORChain attempts to tackle one of the biggest problems currently facing crypto investors, compartmentalization. There are so many independent blockchains in operation today. Sadly, these networks operate like islands in that most have no way to communicate data or value between networks.

THORChain (RUNE) - Twitter

THORChain (RUNE) – Twitter

THORChain operates an independent blockchain that has the capabilities to bridge these external networks with the goal to facilitate cross-chain transfers. As such, users can trade different types of cryptocurrencies without the use of a centralized exchange using the platform. Eliminating the need for exchanges helps to improve efficiency and reduce costs for traders.

Investor Confusion

THORChain helps alleviate some of the technical roadblocks encountered by new DEX users. When a new investor comes from centralized exchanges such as Coinbase, over to a DEX, it can be confusing at first. There are fewer features and more steps required to trade on DEXs.

For example, most DEXs require you to hold the native blockchain coin to even conduct basic transactions. All of these added requirements combined with the fact that DEXs offer fewer features work against adoption. These technical requirements can turn CEX investors away.

THORCHain’s development team focused on removing these barriers. For example, you don’t need any web extensions like MetaMask to utilize ThorSwap, the network’s DEX. The platform offers a built-in non-custodial wallet feature for new users directly on the homepage. This wallet allows you to interact with the THORChain ecosystem safely while retaining custody of your coins.

Benefits of THORChain (RUNE)

THORChain introduces a host of benefits that have helped it gain popularity. The network enables users to instantly swap cryptocurrencies between blockchains in a transparent manner. Notably, this transparency is a core focus of the project. All THORChain users can monitor developments via updates published on the network’s Medium channel weekly.

THORChain (RUNE) - Twitter

THORChain (RUNE) – Twitter

No Oracles

Unlike most DEXs, THORChain eliminates the use of oracles. Oracles are off-chain sensors. They can monitor communication and monitor data flow such as stocks, weather, or payment balances. They are often centralized, making them a weak link in many decentralized networks.

In the THORChain network, arbitrage traders are used to keep pricing accurate instead of oracles. If a coin is too low in value, these traders will buy it up and resell it on other DEXs. If the coin is valued too high, they will buy from other exchanges and bring the token to THORChain’s DEX. These actions balance the market out automatically without sacrificing decentralization. Arbitrage traders are incentivized to ensure the ratio of RUNE and the other cryptocurrencies in the pool remains accurate.

Liquidity

The structure of THORChain helps avoid LP dilution issues.  Dilution issues occur when there are too many trading pools for a certain coin. Since every pool is paired with RUNE within the DEX, there are far fewer pools needed. This strategy is ideal for investors because it helps concentrate liquidity.

Fee Structure

THORChain users enjoy a low fee structure that is a fraction of Ethereum’s current rate.  The network charges a fixed Outbound Fee and a dynamic Liquidity Fee to users. A percentage of these fees get redistributed as rewards to Validators and LP providers.

There is also a Slip-Based Fee. This fee is designed to help prevent whale manipulation. The Slip-Based Fee is based on how much your investment alters the value of the LP token. Notably, these fees are used to pay LP providers in the form of rewards.

Fast Swaps

THORChain is very scalable. For example, it only takes around five seconds to complete your average THORChain swap. This responsiveness helps investors stay ahead of the trends. It also provides developers with more options.

How Does THORChain (RUNE) Work

THORChain was built using the Cosmos SDK. Cosmos SDK allows developers to compose custom blockchain applications using a mix of prebuilt modules and custom modules. The system also allows Devs to increase adoption and liquidity by connecting their networks via IBC to the Cosmos Network. Most notably, the Binance Smart Chain was built using Cosmos SDK.

THORChain Homepage

THORChain Homepage

The THORSwap exchange functions as a decentralized automated market maker (AMM). This structure enables traders to move between different asset pools conveniently. Other top AMMs include Uniswap and SushiSwap. Uniquely, THORChain leverages anonymous nodes to keep the network valid.

THORChain (RUNE) Consensus

THORChain introduces a Tendermint BFT (Byzantine Fault Tolerance) Proof-of-Stake (PoS) variant as its consensus mechanism. This system relies on Validators to secure the network and execute smart contracts. For their efforts, they receive rewards in the form of RUNE tokens. These rewards are paid from the transaction fees.

To become a Validator you will need to stake a minimum of 1 million RUNE. Notably, the validator nodes rotate every three days to enhance the security of the network. In total, THORChain is set up to support 360 validator nodes.

ThorChain vaults

Validators also host THORChain Vaults. THORChain vaults are smart contracts that automatically release crypto to facilitate trading. ThorChain vaults require the consensus of two-thirds of all active validate and nodes to issue their coins. These smart contracts play a critical role in the network’s cross-chain processes.

THORChain (RUNE) Liquidity Providers

LP liquidity providers earn a portion of pre-mined block rewards. Additionally, they are paid trading fees for the pairs they provide liquidity on. Interestingly, the DEX leverages a protocol known as the Incentive Pendulum. This system guarantees a 2:1 ratio of staked RUNE by Validators to LPs.

Continuous Liquidity Pools (CLP)

Continuous Liquidity Pools (CLPs) reward users for contributing to the liquidity in each pool. They improve upon the traditional LP concept in that they reduce slippage. These pools function within the AMM which enables traders to access liquidity without needing to search out buyers or sellers directly.

Bifröst Protocol

The Bifröst Protocol operates as the cross-chain bridge system. It is vital to network operations. The system functions as an interoperable cross-chain bridge enabling compatibility with nearly all major unspent transaction outputs (UXTOs) and account-based assets, including code-forks and tokens. It’s the system that enables ThorChain to connect networks in a seamless manner.

ThorSwap – THORChain (RUNE)

THORSwap is the first multi-chain DEX powered by THORChain. The DEX currently has over $65.68 million in liquidity. Users can find RUNE and a variety of other top projects using this DEX. The DEX features an interactive vibrant interface that shows vital data.

DEX Options

The ThorSwap web interface is how users interact with the network. There are also some third-party DEX interfaces that add functionality and a fresh look to the network. The Asgardex web interface and the Asgardex desktop dapp provide a clean and concise trading experience for users eeking more features.

RUNE – THORChain (RUNE)

The native token of the THORChain ecosystem is RUNE. You can send this cryptocurrency globally with ease. It plays multiple roles within the network. All pools are paired with RUNE and all rewards are paid in the token. RUNE is a BEP-20 token that is interoperable within the Binance Smart Chain (BSC) network.

THORChain (RUNE) - CoinMarketCap

THORChain (RUNE) – CoinMarketCap

History of THORChain (RUNE)

THORChain officially entered the market in 2018. Interestingly, the protocol was created and maintained by a group of eighteen pseudonymous self-organized developers. Notably, the concept for the project emerged as part of the Binance Hackathon in 2018.

Investors were immediately interested in the project. The network secured +2 million during private and seed funding rounds. Additionally, the platform Initial Exchange Offering (IEO) netted another $250,000.

These fees went towards the launch of the Chaosnet in the summer of 2020. This protocol was built to function as the back end for the BepSwap DEX. BepSwap was unique in the market for many reasons. For one, it was the first decentralized application to launch on the Binance Smart Chain. Today, the platform enables the trading of an excellent selection of cryptocurrencies. This task was accomplished through the integration of wrapped BEP2 versions of the coins.

Cross-Chain Concerns Still Cause Headaches for Investors

THORChain had excellent foresight when it realized that there was a growing demand for cross-chain exchanges. Today, this demand is at its all-time highest. Investors are suffering due to the complex process and confusing nature of trading assets across blockchains. THORChain can help reduce these problems.

The internet is full of disgruntled traders who have sent their holdings to crypto oblivion attempting to navigate the current myriad of blockchain assets in the DEX sector. THORChain can provide much-needed clarity and simplicity to these actions.

How to Buy THORChain (RUNE)

THORChain (RUNE) is available on the following exchanges:

Binance – Use Discount Code: EE59L0QP for 10% cashback off all trading fees. Best for Australia, Canada, Singapore, and most of the world. USA residents are prohibited from purchasing RUNE here.

Gate.io was established in 2013, and is one of the more reputable exchanges to buy Rune. Best for USA residents.

THORChain – Perfect Positioning

The rise of Ethereum competitors such as the BSC has helped to fuel more interest in cross-chain systems such as THORChain. The platform offers features that users desire when accessing a decentralized network. This strategy helps with new investor onboarding. Consequently, you can expect to hear more from this network as users continue to join the THORChain ecosystem.

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Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Fx Analysis

Gold Rebounding After Negative Fed Reaction

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  • Policy Induced Tumble Impacts Gold
  • Recovery Starts as Bond Yields Dip
  • Jobless Claim Increase Provides Momentum

The price of gold slumped late in the week following the hawkish views that came from the 2-day Fed meeting. News of a double interest rate hike to come in 2023 but the upkeep of the tone that inflation will remain transitory, did not sit well with the gold market as it slumped more than 5% at some stages, and well of the highs set earlier in the year. Despite this, and slipping close to $1750, it has started a recovery of sorts. This has picked up pace today as US bond yields dip and the market digests the increase in jobless claims on the week. In other commodities news, the sell-off has also been felt across precious metals and beyond.

Rate Hike Slams Gold Market

One of the key reasons behind the quick slump in gold prices on hearing the news from the meeting is that the precious metal does not play well in periods of higher interest rates. The non-yielding asset tends to be less favored when other types of assets can provide an improving yield. Should the inflation worry remain, and the Fed stick with their plans for a double rate hike in 2023, then many trading gold will certainly expect prices to fall further.

The other factor, beyond the general uncertainty of the whole situation that is playing out at the moment for gold in clearer view, is the rising US Dollar. This strengthening Dollar typically reduces demand for gold and therefore can result in price drops as seen.

Bond Yields Provide Recovery Potential 

Despite the fall-off in price that was evident through the middle of the week, gold prices managed to gain some ground again from lower levels in the previous trading session. This has seen them pick up around 1% to sit just below the $1800 in the early trading today.

Part of the reason behind this would seem to be US Treasury Yields. Both the 10-Year and 30-Year yields have drifted significantly lower despite the increase in inflation expectations. This stands by the thinking that any inflationary pressure that is felt can pass through quickly and be a transitory concern.

Increasing Jobless Claims Signal Further Respite

Another factor that has contributed to an upward recovery in gold prices today, along with silver which has dipped but not as strongly, is the US employment figures that were released yesterday. These weekly numbers came in at their highest point of the month with 412,000 initial claims. This is above both the number for the previous week and analyst expectations.

Given this confluence of data then, it may well be possible to see gold run up above the $1800 mark again prior to the end of this week. In the longer term though, it looks likely that prices could fall lower particularly if the Fed sticks by its plans for a 2023 increase of rates and inflationary concern continues.

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Fx Analysis

Investing in 1inch Network (1INCH) – Everything You Need to Know

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What is 1inch Network (1INCH)?

The 1inch Network (1INCH) functions as a multi-chain DEX aggregator and DeFi ecosystem. The protocol integrates a proprietary aggregation system that is able to scan multiple DEXs (decentralized exchanges) in search of the best prices and rates. As such, the network and its token have seen considerable adoption since launch.

What Problems Does the 1inch Network (1INCH) Solve?

There are a lot of problems that 1inch helps to rectify. For one, the protocol tackles the lack of liquidity in the DeFi sector. The DeFi market is still very compartmentalized. This structure means that many projects never gain access to deep liquidity. By incorporating a multi-chain aggregator, the 1inch Network provides deep liquidity to the market.

1inch Homepage

1inch Homepage

Slippage

Slippage is another major concern that the 1inch Network tackles head-on. Slippage is the difference between the expected price of a trade and the price at which the trade is executed. It’s a major issue for most DEXs due to the structure of the liquidity pools. 1inch Network users enjoy minimal slippage because the protocol is very responsive. It can scan multiple DEXs and provide low slippage to users.

Benefits of the 1inch Network (1INCH)

Anyone will be able to enter the DeFi sector using the 1inch Network’s intuitive dashboard. This online interface will remove all the technical barriers associated with DeFi functionalities and allow you to track your investments in real-time from anywhere globally. The dashboard is currently under construction with its launch slated for this year.

Best Trade Rates

The 1inch Aggregation Protocol can check prices across multiple decentralized exchanges (DEXs). The protocol supports DEXs across the Ethereum, Binance Smart Chain, and Polygon blockchains. In this way, 1inch Network users always receive the best rate for a swap.

1inch - Homepage

1inch – Homepage

Low Fees

1inch introduced an Ethereum Gas Fee-pegged token called Chi to provide users with lower fees. In comparison to Ethereum’s fees, 1inch Network users pay around 40% less on average.

Secure

The technical structure of the 1inch Protocol provides a high degree of security to users as well. For example, insecure liquidity sources can connect to the 1inch Aggregation Protocol without users risking the loss of funds, The protocol integrates security checks during every transaction to prevent any losses.

More Features

1inch offers more features than the competition. Most DEXs are basic in their functionality. However, 1inch recently underwent a V2 upgrade that saw the network add a variety of advanced features such as Limit Orders. The upgrade also integrated an OTC swap feature for large orders.

How Does the 1inch Network Work?

The 1inch DEX Aggregation Protocol is the primary service provided by the network. The algorithm finds the cheapest way to place trades using all the different exchanges and liquidity protocols that can facilitate the trade. The protocol can further lower fees and rates by splitting the transaction up. The network supports splitting a single trade across 21 exchanges to achieve the best rate possible.

Liquidity Protocol

The Liquidity Protocol is another key DeFi feature available to users. This system enables decentralized token swaps. Notably, the main way to earn 1INCH tokens is by providing liquidity to 1inch’s liquidity protocol.

Governance

1inch token holders gain the right to put forth proposals to a community vote. The network’s governance mechanism determines the weight of your vote based on the amount of 1inch you hold in a network wallet or have staked. The system employs a decentralized autonomous organization (DAO) protocol to provide truly decentralized management to the network.

Farming Pools

Farming is another cool DeFi feature that 1inch Network users gain access to. Many investors prefer farming over staking because there are no required lockup periods or early withdrawal penalties. In this way, you can access your tokens if you need them without fear of losing rewards due to penalties.

1inch Stats

1inch Stats

Developer Portal

The 1inch Network was built from the ground up to serve as an underlying technology for Dapp developers. Developers can suggest new integrations or solutions that can be built on the 1inch API. Dapp creators can find answers to questions and other helpful information to bring their concepts to life in the Developer Portal.

1inch

1inch is the main governance token for the network. It was launched in December 2020. Today, the token is very popular. It’s available on several major cryptocurrency exchanges. Some of the biggest daily trading volumes occur on Binance, KuCoin, Huobi Global, FTX, and OKEx.

Chi Gas

Chi Gas is a network token used to power 1inch transactions. It’s pegged to the Ethereum network’s gas price. However, it’s only minted when the gas price is low and burnt when it is high. This strategy provides significant savings to all users.

1inch Wallet

The 1inch Wallet is a multi-chain platform that provides an easy-to-navigate interface and secure transaction capabilities. This versatile wallet was built from the ground up to streamline interacting with 1inch’s features.

History of the 1inch Network (1INCH)

1inch first went public during the 2019 ETHNewYork hackathon. The project is the brainchild of Sergej Kunz and Anton Bukov. Since its launch, the platform has attracted investor attention. Notably, the firm secured $15 million in funding from well-known companies in the tech sector including Binance Labs, Galaxy Digital, and Pantera Capital.

1inch Network (1INCH) - Twitter

1inch Network (1INCH) – Twitter

In November 2020, 1inch launched its biggest update yet. The V2 update added more functionality and responsiveness to the platform. It also enabled the system to conduct more complex trades to keep prices low. The aggregator can now use techniques like rerouting money earmarked as collateral for loans on decentralized lending protocols Aave and Compound.

How to Buy 1inch Network (1INCH)

1inch Network (1INCH) is available on the following exchanges:

BinanceBest for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from purchasing 1INCH here. Use Discount Code: EE59L0QP for 10% cashback off all trading fees. 

Kucoin – This is the best option for USA residents.

1inch Network – Saving DeFi Users on Fees and More

1inch serves a vital role in the DeFi sector today. The platform enables regular users to secure passive incomes, save on trades, and find the best rates possible. In addition, the developers continually upgrade the network to incorporate new features and services. For these reasons, 1inch is set to remain a premier option for DeFi users moving forward.

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Fx Analysis

Forex Market Strength Continues With ECB at Odds on Inflation

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  • Dollar Continues to Rebound Stronger
  • ECB Policymakers Divided
  • Markets Dip Following Strong Start

The USD forex market has continued to rebound strongly into this week. This has further increased pressure on other major forex currencies particularly the Euro and Sterling. The Euro has also been struggling under the weight of disagreement between key policymakers at the ECB over how the group should approach the key inflation issues facing not only the European bloc but those in the US and around the world. The Dollar Index is also flexing its muscle moving up close to the 92 mark as Sterling and other majors lack momentum. Markets on Wall Street had a quiet start to the day after a very positive start to the week yesterday.

Dollar Demand Persists in Pushing Higher

Forex brokers noted a continuing strong demand for the Dollar through yesterday and into the trading session today as US Treasury rates moved higher and Fed Chief Jerome Powell reiterated his caution over rising inflation and the fact that the country continues to battle against the COVID-19 crisis despite a positive return to form for the economy. These pre-released remarks yesterday ensured the Dollar held firm in its position of strength.

Powell is set to address the House Select Subcommittee on Coronavirus Crisis shortly with those forex trading the Dollar and other currencies keeping an eye on his tone and whether it will support the rather hawkish turn of last week from the Fed. This will remain the key driver for the Greenback today with possible reverberations to carry through the week.

ECB Divided on Inflation Issue 

While the Fed in the US remains fairly uniform in their view, that is not the case currently in Europe where the ECB policymakers are decidedly divided on the concerns caused by inflationary pressure, and how they should be dealt with.

With the Euro under pressure from a strong Dollar and showcasing all the hallmarks of a strong inflationary presence as can also be seen in the US, there would appear to be some discord as to how the banks’ approach to inflation should be delivered. This follows their meeting last week where it was generally agreed that it could be tolerated if inflation were to move beyond the 2% goal. By how much, and for how long though, remains unclear.

Wall Street Quiet After Dow Roars

An extremely strong start to the week on Wall Street, particularly from the Dow Jones which rebounded more than 500 points from a dip last week on the news from the Fed meeting and proposed interest rate hikes. This was its best day since March while the other major indices posted more modest gains.

The early trading today has been much flatter with traders presumably awaiting any news or indication from Jerome Powell’s testimony. One of the biggest gainers so far today is Reddit favorite GameStop with a jump following the conclusion of their most recent, billion-dollar share sale.

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