Hey All,
I have been part of the Thorchain $RUNE for almost a year now. The chain allows you to Swap between blockchains directly from your wallet - bringing defi at its core. There has been many phases where I had bought $RUNE sold it for some profits and had bought Splinterlands asset Validator Node, invested in Cubdefi and PolyCUB as well. The investment in both the defi projects cubdefi and polycub remains as is and has been stagnant for long time now. Rather, I would say I am making heft losses here but anyways I still continue to HODL $CUB and $xPloyCUB for now. Coming back to the main topic of this post, as to why is #RUNE rising and past couple of trading sessions continues to rise almost 15% and is on the rising streak today as well..So what is making $RUNE Rise..what new is coming at Thorchain becomes the main question here...
$RUNE Becomes Deflationary - THORFi Lending?
Checking on twitter feed of Thorchain, there is much being talked about the most awaited feature THORFi Lending within THORChain. The main thing to note here is that when the THORFi Lending is LIVE i.e. is turned on then $RUNE is going to becomes deflationary which means $RUNE will start to get BURN. Looking at $RUNE chart today on coingecko #RUNE is trading at $1.31 and is up 15% today. The total supply of $RUNE is mere 500 Million tokens and out of which only 300+ Million $RUNE is in circulation. With lending coming on THORChain $RUNE starts to get burned and this is definitely going to shrink the overall supply of $RUNE causing more upward pressure on the price of the token.
Lending allows users to deposit native collateral, and then create a debt at a collateralization ratio CR (collateralization ratio). The debt is always denominated in USD (aka TOR) regardless of what L1 asset the user receives.
Overall the THORFi Lending is going to benefits the protocol by:
- Will increase capital efficiency of the pools
- There would be more addition trading volumes observed
- With increased total bonded, this will allow THORChain to scale
- Providing an attractive sink for capital
I was a bit luck here that before this news broke out on the Lending coming on Thorchain, I had converted all my $BTC for $RUNE at a price around where $RUNE was trading for a dollar. This got me close to 4K+ $RUNE tokens and currently I am making $500+ profits here already in just 2 days. For now I'll continue to HODL $RUNE and will talk about - My Investment In $RUNE & Strategy Ahead in my upcoming posts..cheers $RUNE to the moon...will we see $RUNE break $2+ mark in coming days ahead of lending.... cheers
Have Your Say on Thorchain - $RUNE - DEX?
Are you invested in $RUNE? Did you hear about this news on THORFi Lending? Are platforms like @Lends_so, @BrokkrFinance, @THORSwap fully DEX? Can we consider funds on these platforms SAFE? Are they PURE DEX as claimed? Would love to hear your thoughts around it in the comment box below? Cheers
$RUNE with THORFi Lending - $RUNE is making BIG MOVES...
#dex #thorswap #rune #thorchain #decentralization #deflationary #lending
Image Credits:: twitter, thorchain, coingecko
Best Regards