Thorstarter XRUNE Price $ 0.0168

Understanding XRUNE

XRUNE is the settlement currency of the THORSTARTER protocol.

After a project is selected, an additional pool of XRUNE will be seeded together with a project’s token - “ASSET” - for an initial IDO launch. The proposed distribution mechanism for provisioning liquidity and resources to Thorstarter IDOs will be discussed later.

In positioning XRUNE as a pair on both Thorchain and on AMMs on different chains, Thorstarter acts as a liquidity relayer for long tail crypto assets. Users will be able to swap cross-chain assets using an XRUNE-ASSET liquidity relay, regardless of whether or not ASSET is in an approved Thorchain pool. This will ultimately serve as an alternative to centralized exchanges (CEXs) like Coinbase and Binance and single-chain decentralized exchanges (DEXs) like Bancor, Uniswap and Pancakeswap.

An additional relay mechanism is needed to swap between assets using the underlying RUNE pools on Thorchain. XRUNE provides an effective medium to access cross chain liquidity provided by CLPs by using secondary token XRUNE to pair with base RUNE. New assets can be paired with XRUNE in new XRUNE-ASSET pools to access the same liquidity as short tail crypto majors.

In essence, Thorstarter takes the original design of Thorchain and adds a liquidity relay to it. Assets paired with XRUNE can access RUNE liquidity without needing to hit the minimum required RUNE liquidity in Thorchain pools. This allows cross chain swapping without the required RUNE depth. This will bring additional liquidity to both base RUNE and XRUNE asset pairs.

Function of XRUNE

Thus, XRUNE has three primary functions:

First, XRUNE is paired with RUNE as a liquidity pool on Thorchain. LPs earn fees in both RUNE and XRUNE, based on the volume of transactions occurring between these assets block by block. This follows the standard rewards model of all other approved RUNE-ASSET pools on Thorchain.

Second, XRUNE is a token whose utility is early access to projects which IDO on Thorstarter. Approved projects are seeded with XRUNE liquidity by the Thorstarter DAO, creating XRUNE-ASSET pools on secondary market AMMs. XRUNE is required to participate in the initial liquidity event.

Third, XRUNE is paired with ASSETs on external AMMs, either as provisioned liquidity by the Thorstarter DAO or simply by LPs looking to gain exposure to yield. External LPs earn fees based on the fee structure of the AMM where they provide liquidity. In the case of Eth-based AMMs Uniswap and Sushiswap, this fee is 0.3%. In the case of Pancakeswap on BSC, this fee is 0.2%.

Thus, XRUNE has three primary functions:

First, XRUNE is paired with RUNE as a liquidity pool on Thorchain. LPs earn fees in both RUNE and XRUNE, based on the volume of transactions occurring between these assets block by block. This follows the standard rewards model of all other approved RUNE-ASSET pools on Thorchain.

Second, XRUNE is a token whose utility is early access to projects which IDO on Thorstarter. Approved projects are seeded with XRUNE liquidity by the Thorstarter DAO, creating XRUNE-ASSET pools on secondary market AMMs. XRUNE is required to participate in the initial liquidity event.

Third, XRUNE is paired with ASSETs on external AMMs, either as provisioned liquidity by the Thorstarter DAO or simply by LPs looking to gain exposure to yield. External LPs earn fees based on the fee structure of the AMM where they provide liquidity. In the case of Eth-based AMMs Uniswap and Sushiswap, this fee is 0.3%. In the case of Pancakeswap on BSC, this fee is 0.2%.