Proposal to launch RUNE/USDC market

Let’s launch RUNE/USDC!

THORChain

THORChain is the cross-chain Uniswap, a decentralized liquidity network and AMM enabling trustless & permissionless exchange of assets across chain. ie. Layer 1 asset swaps, no pegged assets. THORChain should need no introduction.

The network was launched as a single chain chaosnet in 2020 and multichain chaosnet will be live Q1 this year supporting bitcoin, ethereum, bcash, litecoin, haven, binance chain, monero, dot and more.

THORChain is well known in DeFi, has a strong meme game and features many prominent funds as investors including Delphi. Read the 30+ page report on THORChain here: https://twitter.com/Delphi_Digital/status/1334554873292091392

RUNE:

$RUNE is the network asset of THORChain and responsible for the security of the network + functions as the settlement currency enabling deeply liquid pools without the dilution effect of exchange pairs. It is not a utility token. RUNE has seen over 1700% appreciation in 12 months and was the best performing exchange token of 2020.

The market capitalisation of $RUNE has grown from $1mm in 2019 to $500mm in 2021. The marketcap of RUNE is directly tied to the TVL of the network, however today has a speculative premium attached.

RUNE is liquid on FTX, Binance CEX and of course on BEPSwap where the total daily volume exceeds the TVL of the network. RUNE is deeply liquid and already has perp futures on binance & ftx.

Since RUNE is a BEP2 asset, the team recently created ERC20 RUNE and a trusted bridge. RUNE has liquid markets on both sushi & uniswap. Liquidity will continue to increase on the ERC20 version.

https://info.uniswap.org/pair/0x8d2a4cc2e2ca0f7ab011b686449dc82c3af924c7

https://sushiswap.vision/token/0x3155ba85d5f96b2d030a4966af206230e46849cb

Resources:

https://twitter.com/thorchain_org

I just updated to Level 1 user - do you want to try and add in links/images again?

2 Likes

I like this as a new trading pair.

Because of RUNE’s cross-chain AMM structure, it’s token has the chance to be foundational to the whole of crypto. The price of RUNE, as the AMM pools deepen, will be closely correlated with the assets staked into its AMMs so there can be a lot of arbitrage opportunities being long RUNE and short the underlying basket or vice versa. Would be a great token pair for PERP.

Liquidity is pretty low though? 300k on uni and 5m on uni. I wonder if it would be safer to have more liquidity first otherwise we may have massive price fluctuations and potential manipulation?

1 Like

Depends what you’re using as a price oracle since there is also BEP2 RUNE. In any case more liquidity is coming soon so happy to defer until there’s a little more liq.

Liquidity on Bepswap is good, though. Check: https://chaosnet.bepswap.com/

There also may be decent arbitrage opportunities between the BEP2 <> ERC20 chains

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