What is THORChain?
THORChain (RUNE) is a crypto network that offers users to trade cryptocurrencies over various blockchain networks in a non-custodial way. Its implementation is based on the Bifröst Protocol cross-chain bridge system. RUNE is the native token of the network. Through it, users take part in the network. They play a role in the governance process too. RUNE also aids to manage the security of the network as it is an element of THORChain's Sybil resistance tools. It suggests nodes committing at least 1 M RUNE to be engaged in its rotating consensus operations. The bond isn't only used to identify a node (give them a voting slot), it is used to underwrite the assets in the pools. If the node attempts to steal assets, then their bond is deducted to the amount of the assets they stole (1.5x), and the pools are made whole. RUNE is a means of incentives administration of the network. This includes paying out rewards, charging fees, and subsidizing gas.