The time has come for me to add some diversification to my crypto portfolio. At present, it is 100% HIVE, either as HP, tokens on LeoDEX/Hive Engine, Splinterlands and Dcity. That's great and all, but part of the goal for me is to build a crypto based future to opt out of fiat over time. I think even the most optimistic of HIVE maximalists will agree that that wont be possible without some other "non-HIVE" investments.
What is RUNE?
- RUNE is the native token of Thorchain.
THORChain facilitates cross-chain liquidity pools with no pegged or wrapped tokens.
Swap between assets across chains. Stake assets to earn liquidity incentives. Run a node to service the network.
Quotes fromThorchain website
Ok, so to be totally honest, My understanding of Thorchain is not great. But I have a good vibe about it, some smart people seem very interested and bullish about its prospects, and @khaleelkazi loves it. He's brought it up in the LEO discord a few times. I'd really love it if he or one of the other smart Leofinance people wrote a LeoPedia article about it.
Buying RUNE:
Anyway, RUNE for now runs on the Binance chain. Uhggg. I didn't want to have to deal with Binance again after the #steemhostiletakeover saga, but it seems I will have to once again. There are other ways to get RUNE, but for what I need, BNB is going to be the easiest path, so I have to swallow my pride and log back into Binance for the first time in months.
The end-goal is RUNE staked via the Runevault. The easiest way I found to get there is by using "Trust Wallet". This is my first experience with trust wallet, and I must say I have been pleasantly surprised. If you don't know, Trust Wallet is a mobile wallet app, available from the App store. It is also owned, I found out, by Binance... Uhggg again.
The process, start to finish.
Buy some BTC. (Today I put the grand total of $25 AUD into my crypto investments, buying BTC on Coinbase. In future, I plan to use some of my HIVE income to add to my RUNE position. Having fiat available to buy crypto for me is a rare occurance)
Send BTC to Binance - Uhggg
Trade BTC to BNB.
Send BNB to my brand new trust wallet.
Swap via the trust wallet app (a surprisingly easy process I have to admit) the BNB to RUNE.
Link my Trust wallet to Runevault and stake the RUNE.
repeat daily with some HIVE instead of BTC.
How much RUNE will I earn?
RUNE staking is kind of in test mode at the moment. The staking returns are aimed at distribution and come from a pool at the moment, more like a faucet than true Proof Of Stake returns. Still...
Ding, Ding, Ding,
34% Annualised ROI. I'm in.
So now I'm the proud owner of a whoping big 32 RUNE tokens. MY huge stake puts me at 1679 out of the 1739 total wallets with RUNE staked.
In the coming days, I will share more about this investment as I learn more about the Thorchain itself. I'm a strong believer that sometimes the best way to learn and get involved in something new is to just dive in head first and learn along the way. I have a good feeling about RUNE, and that instinct is enough to get me started. Stay tuned (if you like) to see what I learn along the way.
Cheers,
P.S. Guess what happened today since I bought the RUNE? It went down in value.