Token highlights: THORChain



THORChain (RUNE), as a Large Cap Non-Ethereum based Token, is 46th in the 2100NEWS ranking. The quality of the order book of RUNE is Ordinary. The average quality of the order book for large caps members of the NWSL100 index is 17.3. What is the true value criterion in the crypto world?

*Among all, the price is always at the forefront. By comparing with the index, we can gauge the price-performance with similar digital assets that are members of the index. Considering an investor’s point of view, peer comparison should be efficient and effective. We present you tokens that are worth keeping in mind.

 

About token

RUNE has been launched in 16 exchanges.

THORChain is a Large cap Non-Ethereum based Token that is 46th in 2100NEWS ranking (after Index Review of 29th January 2021). It is an Index member: NWST1100, NWSL100, NWSTo100, NWSOT50, NWSDM100.

2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary, Score: 17.8, (Average for Large caps: 17.3)


Over the past week, the average market cap was $635.2 million; the average daily volume was $66.9 million.


 

In this section, we will examine how the market, with price changes, evaluates project progress. It seems important to us if the project is outside of the usual tide of crypto project prices. We gauged the THORChain (RUNE) with  2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison.  On average (violet area chart), the relationship between RUNE and NWSL100 showed that RUNE was more potent over the last three months. However, lets’s compare the RUNE green area graph with the orange index area graph; while observing the correlation graph, the correlation graph explains that the correlation is strong (Pearsons correlation coefficient = 0.87). It was moving in the same direction as the NWSL100, so it has been a good representative of the NWSL100 index in terms of price changes.

*The chart below shows the RUNE compared to NWSL100 at the top, the box in the middle of the chart shows the original RUNE price, and at the bottom of the chart, we see NWSL100 and the correlation between  RUNE and NWSL100.

 

 

2100NEWS observation:

They are currently working on a new website, so many things are still missing from it. But it already looks very friendly. They publish weekly achievement reports that are fairly understandable to connoisseurs. We did not find the plan on the website (it may still be in the works), but an audit report on the code review was published. Because they are a public project, the community is largely active. They have 30.5 K followers on Twitter.

 

About THORChain – what they do

THORChain is a liquidity protocol based on Tendermint & Cosmos-SDK and utilizing Threshold Signature Schemes (TSS) to create a marketplace of liquidity for digital assets to be traded in a trustless, permissionless & non-custodial manner. THORChain’s liquidity marketplace design obviates the need for order book exchanges when simply swapping one asset for another and provides ancillary benefits, including manipulation resistance & on-chain price feeds. THORChain can remain chain-agnostic, favoring no specific asset or blockchain and able to scale without sacrificing security.

THORChain enables users to swap between digital assets on almost any blockchain in a trustless & permissionless setting. Liquidity is provided by liquidity providers who earn fees on swaps, turning their unproductive assets into productive assets in a non-custodial manner. Market prices are maintained through the ratio of assets in pools, which traders can arbitrage to restore correct market prices.

There are several components to the ecosystem to ensure that it is decentralized and secure.

  • BEPSwap is a web-client that is strictly limited to Binance Chain assets. It is not intended to be maintained long term; instead, it will be replaced by ASGARDEX.
  • ASGARDEX is a censorship-resistant desktop client that will be the main portal into the system and provides a reference implementation. ASGARDEX can control the full life-cycle of a transaction and ensure compatibility with THORChain. ASGARDEX uses open-source npm packages to provide the majority of the business logic, so any community member/wallet/exchange can easily add THORChain integration.
  • Midgard is an open-source API run by every THORNode and provides a restful API that any client can consume to display data and broadcast signed transactions back to connected chains. To connect to Midgard, the client (e.g., wallet) must first challenge several nodes to prevent being attacked or phished since the security model of THORChain is strictly by-consensus.
  • THORNodes sync and run the network. Block explorers can connect to a THORNode to display the underlying blockchain data. THORNodes can either be validators or a light node that simply syncs and displays data.

 

General information

Based in Switzerland, THORChain is a public project. Anyone can help contribute to the ecosystem. The team not-profit orientated. All fees go back to users.

 

Exchanges: 0x Protocol, ATOMARS, BEPSwap, Bilaxy, Binance, Binance DEX, Bithumb Global, BitMax, CoinDCX, FTX, Gate.io, Hoo, MXC.COM, ProBit Exchange, Sushiswap, VCC Exchange.

 

Website:    https://thorchain.org/

You can follow them:      Medium    Reddit    Twitter

 

Do you know more about this topic, or would you like to report an error in the text? Leave a comment or email us at info@2100news.com.

 

The Crypto Highlights are considered the opinion of 2100NEWS, and the material is for informational purposes only, and 2100NEWS is not soliciting any action based upon such material. The material is not to be construed as an offer or a recommendation to buy or sell a security, nor is it construed as investment advice. At the time of this article’s writing, the author did not hold any tokens RUNE.



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