What Is Thorstarter(XRUNE)?

Thorstarter describes itself as a decentralized protocol utilized to expand and forward liquidity via the native Thorchain network. THORChain is an autonomous blockchain that utilizes the Cosmos SDK as a cross-chain DEX. This network aims to let the users efficiently and securely swap crypto assets, allowing any smart contract-enabled blockchain to access liquidity from any other Thorchain-compatible chain. Thorstarter acts as an IDO (Initial DEX offering) platform for new projects, providing them with deep liquidity right from the beginning. IDO is a successor to IEOs (Initial exchange offering) and ICOs (Initial coin offering) in that it seeks to raise funds and bootstrap a project. Alternatively, Thorstarter claims to allow existing projects to reach investors and participants across various blockchains by creating a liquidity pool for their token paired with XRUNE. XRUNE is the native token of this network. Thorstarter complements the Thorchain ecosystem, and benefits from its liquidity and capabilities, while also expanding its usage.

As per its whitepaper, the native currency of Thorstarter is a liquidity relay between the THORChain network and long-tail crypto assets (young projects with low liquidity). XRUNE claims to be the settlement currency between new projects (IDOs) and THORChains’ active pools. Further, the network claims that XRUNE token holders can become members of Valhalla Venture DAO (Decentralized Autonomous Organization) by locking XRUNE for their governance token vXRUNE. A Venture DAO is a decentralized, community-governed group that invests the combined capital of its members. The platform also claims that holding one hundred or more vXRUNE lets DAO members participate in Thorstarter IDOs and entitles them to rewards from successful Thorstarter IDOs. Furthermore, vXRUNE seeks to allow the Thorstarter community to partake in the protocol's governance by locking up the protocol's token, XRUNE, providing community stakeholders the privilege to make proposals and vote on any active activity poll or proposal.

According to its website, the mission of Thorstarter is to launch and fund the best up-and-coming THORfi and DeFi projects via liquidity grants and access to their customizable, multichain IDO (Initial DEX offering) launchpad. XRUNE has a different tokenomics and governance structure, and its price is not 1:1 to RUNE. RUNE is a native token of THORchain. Both tokens act as a settlement currency. The total supply of this token is 1,000,000,000 XRUNE.