How to obtain THORChain(RUNE) coins

RUNE, THORChain's native token, is essential for network security, liquidity provider incentives, and governance; it can be acquired through exchanges, DEX aggregators, OTC trading, liquidity provision, or community events.

Dec 09, 2024 at 07:48 am

How to Obtain THORChain (RUNE) Coins

THORChain, the decentralized cross-chain liquidity protocol, empowers users to swap digital assets across multiple blockchains without intermediaries. RUNE, the native token of THORChain, plays a vital role in securing the network, incentivizing liquidity providers, and facilitating governance. This comprehensive guide provides step-by-step instructions on various methods to acquire RUNE coins.

1. Purchase from Cryptocurrency Exchanges:

• Binance: One of the largest cryptocurrency exchanges supporting RUNE trading pairs, offering high liquidity and competitive fees.
• KuCoin: Another popular exchange for RUNE trading, known for its user-friendly interface and variety of altcoin listings.
• Gate.io: A long-established exchange with a decent selection of RUNE trading pairs and a focus on Chinese markets.
• Kraken: A reputable exchange with a strong emphasis on security and fiat on-ramp options for RUNE purchases.
• Huobi Global: A major exchange in the Asia-Pacific region, offering RUNE trading against a range of digital assets.

2. DEX Aggregators:

• THORSwap: A decentralized exchange aggregator built on THORChain, allowing users to swap RUNE and other assets directly between their wallets.
• 1inch: A widely used DEX aggregator that sources liquidity from multiple decentralized exchanges, including THORSwap, to find the best RUNE prices.
• KyberSwap: Another popular DEX aggregator that supports RUNE trading and connects to various liquidity providers.

3. OTC Trading:

Over-the-counter (OTC) trading involves large-scale RUNE purchases or sales executed directly between buyers and sellers on specialized platforms or through brokers. This method is typically utilized by institutional investors and those seeking privacy.

4. Liquidity Provision on THORChain:

• Become a Liquidity Provider: Users can deposit supported digital assets into liquidity pools on THORChain and earn rewards in RUNE for providing liquidity. This process requires a technical understanding and involves potential risks.
• Use a Liquidity Pool Service: Platforms like THORWallet offer simplified access to liquidity provision, allowing users to participate in liquidity pools without directly handling technical aspects.

5. Participate in Airdrops and Giveaways:

THORChain has periodically conducted airdrops and giveaways to distribute RUNE coins to the community. These events can provide opportunities to acquire RUNE without upfront investments. However, it's important to exercise caution and thoroughly research the legitimacy of such initiatives.