I bought quite a lot of RUNE (@ $0.40) in the finest tradition of 'copy people on LEO who know their shit', and I've been getting quite excited recently watching its price go up to > $5.
Now, having finally found the time to research it, you know what: I've concluded that for all the hype it's probably not a moonshot coin, but rather it really is just a very solid coin for securing a reasonable yield for minimal risk from the value of your other crypto assets.
In other words, Rune is boring but important!
It's currently floating at around $5 - which i think is a reasonable price for it, and I also think it's a reasonable 'hold' coin, given the pretty unique offerings it will bring to the DEFI landscape, but despite the hype I can't see it going to the moon, rather just steadily increasing in value.
Ironically, despite the 'fun' presentation and meaning absolutely no disrespect to the coin or the protocol, I just think this is going to be a no-frills, no nonsense platform which will be a secure place to pool some of my BTC, some of my ETH and so on - secure in the knowledge that the token I'm pooling with is kind of hedged with all other tokens, so this should keep slippage and impermanent loss to a minimum, at least in the larger pools.
As I understand it Rune/ Thorchain have the following features which make this likely (there is a lot of thought behind all of this!):
Rune will be the sole base pair coin on Thorchain Mainnet
Every pool will have RUNE in it - which means RUNE will capture the value of all the assets pooled with it.
This also means there will be fewer pools and it should be easier to achieve deep liquidity.
But there won't be any of the fun-pools like you get on Pancake, and I read in the Docs that the returns are going to be quite low for DEFI projects - from 3-10% depending on the pool. Although this I understand could vary. It might be higher to incentivise pooling for example....
Pooling of native assts and cross chain swaps
None of this wBTC or (even worse) bTBC or renBTC nonsense - You'll be able to pool actual BTC, or actual ETH or LEO (I assume) or whatever, and you'll be able to swap straight from BTC to ETH, and do this from any major wallet (or so some bloke from the Rune Telegram chat told me).
THIS is what I think is going to attract people to add liquidity to the pools, this a place where people can store their native assets, NOT the wrapped versions.
The Test net is already live BTW:
Deterministic Rune - The value of Rune will be 3 times the TVL
Because of the way node operators are incentivised to lock up twice as much Rune as is pooled (they get higher rewards that way) the value of Rune should always be 3 times that of the Total Value of other Assets locked - thus you can work out the value of a coin by dividing that figure by the total circulating supply.
If we assume a circulating supply of 250M Rune (which isn't that far off) then we'd need $750 M of assets captured in the chain in order to reach a Rune price of $10.
That doesn't seem to infeasible to me - that would be 1.5% of the DEFI market ATW.
USDr - the Rune stable coin could be a winner
There is going to be a Rune stable coin (USDr) - linked (somehow) to other stable coins.
And I'm just thinking - buy Rune, pool 50-50 with the stable coin - I could see a lot of people going for this, sucking more Rune into the network.
It's an alternative to ETH and BSc
THIS I think is important - as I understand it, Thorchain Main will have lower fees than ETH, and it will be actually genuinely decentralised, unlike BSc, AND native assets - people are gonna love it, right?
Lower fees than ETH
I may have misunderstood this but my interpretation of this section of the Docs was that fees will be partially paid by node operators, who will then be compensated with Rune - all behind the scenes.
Decentralisation and anonymity
Unlike Binance Smart Chain, Rune just feels ore like a pure blockchain project - the operators are anonymous, the nodes are what are played to.
Security
Node operators are incentivised to bond 2 times the value of pooled assets, there should eventually be almost 100 nodes and the system can handle up to a third malicious actors. Sounds pretty secure to me.
The minimum bond you need to run a node is $1 Million dollars worth of Rune.
Final thoughts - Rune: Boring but Important,
I'm glad I'm in on Rune, but don't believe the hype - 'all' it means is you've got a relatively secure place to get a relatively average yield of yer main crypto assets, I think.
Or maybe that is exciting?!?
You can pool Rune now on BEPSWAP
You can find out more about RUNE on the Thorchain website.
Posted Using LeoFinance Beta
Loving this post! Yeah, I listened to the Leo people who know their shit too but slow danced on it and didn't get in until .83 (still worked out awesome).
As for the pooling, I have RUNE/USDT pooled right now.
Posted Using LeoFinance Beta
Good to hear it!
You're partially to thank for me buying in at $0.40 - I remember you banging on about how we should all buy LINK when it was $4 (or probably less) - I missed that and this was my way of trying to make up for it, I wanted some kind of DEFI in!
Did you pick up any AKT too? That was JK numbers other recent reco that's working out great!
Those BEP pools are nice! Seamless integration with the Trust Wallet, low fees, NB there was a moment where I had 8 hour delays waiting for the rune part of my unstake so it is still a work in progress...!
$0.80 is still a decent buy-in point, hell I've been swapping in for > $4, not $5 though.
Posted Using LeoFinance Beta
thanks for the post. Now I got to get me some Rune!
Interesting read As you say, there has been a lot of hype around RUNE. I first heard about it when it was about 30c and never got around to buying any. The main thing that was being bandied around making it exciting/important was "cross chain".
But I wonder now, with more and more projects coming into the space. whether that will be the new norm anyway.
As I'm trying to consolidate rather than keep buying into new projects I think I might skip this one now.
Posted Using LeoFinance Beta
I know what you mean about trying to consolidate - I hooked up metamask to Huobi Smart Chain yesterday, then I just thought 'what the actual fuck am I doing?' and logged off - spreading myself too thin.
There's something to be said for having larger amounts of money pooled in fewer projects. Not least the fees.
HONESTLY though - swapping is an issue, Rune is looking like it's going to be one of the first to get this sorted.
Posted Using LeoFinance Beta
That's hilarious. I know that thought only too well. 😂
There just seem to be so many interesting projects springing up all over the place I started turning jumping about all over the place. But I took a big step back and went back to fundamentals - what am I trying to achieve? is this a good punt to take me closer towards that within the next 4 years?
After I posted I realised I might have been confusing RUNE with POLKADOT. 😂
Posted Using LeoFinance Beta
I think DOT is aiming to do the same thing too, one imagine's people are going to want to diversify their investments/ pooling so there's plenty of room for several of these initiatives in the market.
I still think Hive is one of the best - I am diversifying out ATM but Powering Down is a red line.
Posted Using LeoFinance Beta
Remember when you made some trxs for me on Huobi and eventually and when you sent me the funds you asked what I was planning on doing with them? Well never regretted getting involved in RUNE at 65 cents...that's where it all went :)
Posted Using LeoFinance Beta
Ah very nice!
Have you pooled them yet?
Posted Using LeoFinance Beta
Not just important but super important, the latest update from Thorchain explained how its been built to eliminate the risk of impermanent loss, not even BSC can do this.
Posted Using LeoFinance Beta
I just can't see how this isn't going to be popular once it's all live!
It's odd, I sort of found my way to just what I wanted kind of without realising it!
Posted Using LeoFinance Beta
Cheers to that
So much project to follow.
I should follow them too
cause #Thorchain is one of the project
they talked the most in the last couple months.
!BEER
Posted Using LeoFinance Beta
I've certainly done OK out of a few decent recommendations!
Posted Using LeoFinance Beta
There’s only one thing you didn’t talk about... WEN ? 🤣
Just kidding I’m eager to start pooling rune with something else than bTokens.
Sure 3-10% is super boring during a 1000-3000% crazy period. But we know this will slow down and we will be happy to put our gains on some Rune protocols.
Thanks for keeping us posted ;)
Posted Using LeoFinance Beta
Those crazy B tokens put me on edge a little TBH, if it sounds too good to be true....
Posted Using LeoFinance Beta
That is such a huge gain you get there. congrats man.
yes there are so much debate about the decentralization of BSC because its a native token of an exchange and they might later have a bigger control over the chain.
will look into rune, but have nothing much for the investment at the moment
Posted Using LeoFinance Beta
You can already see it happening with the way they manipulate fees for certain tokens.
Posted Using LeoFinance Beta
way more background than I had ever known. also seeing how stable it is holding but didnt know it was going to be a pairing for all of that. sweet find from all of us (better said listening to smart people)
Posted Using LeoFinance Beta
It all seems pretty solid to me! If you can get a million dollars worth you can run a node!
Posted Using LeoFinance Beta
I'm not bothering with the Pooling part for now, just holding RUNE on exchange. I've generally just scalped tiny gains from the coin and never bothered to read about it, since, just like you, I used the smart guy on Leofinance indicator to make my purchase. The rise in value has been consistent and doesn't seem like it will have a colossal run up, which makes it perfect for catching those swings.
Posted Using LeoFinance Beta
Sounds like a good plan, it's certainly nice watching the price increase!
I was reticent about pooling, I swapped some stuff into Rune, so at least if I lose some it's all new Rune!
Posted Using LeoFinance Beta
Thanks for shering info about RUNE, I didn't know what it was.
Posted Using LeoFinance Beta
View or trade
BEER.Hey @revisesociology, here is a little bit of
BEERfrom @pouchon for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.Euhm, I come and go at Leo, sometimes more active than other times. So far, I seem to not read all these shilling posts, and certainly not acting on them. The wrong choice so it seems. 40ct to 5$. None of my crypto did this. I usually only want to buy a coin or token the I researched myself. Somehow, I don't seem to priorities those activities over my HIVE and sometimes LEO activities. I suppose, I need to comment less, or write shorter comments, on both HIVE and LEO and get on with my research. Or just follow your example: When LEO specialists are shilling, follow what they shill :)
Posted Using LeoFinance Beta
That's all I did!
And I also spend a lot of time writing and commenting on HiVE/ LEO, it's a pretty good use of one's time too!
Nice 🙂
Without me having to go through all post of last so many days to figure out what our LEO members are shilling, would you mind informing me (I suppose 'us' when doing this publically) what coins and tokens are hot last period? I do sound quite lazy now, right? 🙇
Among LEO people - Rune, AVA, AKT more recently.
BAT seems to be pretty favoured too. Lots of fans of DOT too.