THORChain native token, used as a unit of full pairing, node bonding, and fee/reward. Definition: RUNE is the common payment asset for all pools and the central token of network security and liquidity. Function: Performs the functions of payment, bonding, liquidity pairing, compensation, and governance participation. 2. Continuous Liquidity Pool, CLP on-chain state mapping: Existence. This is the AMM structure that calculates it. Function: Creates a cross-chain swap path by connecting all pools, including BTC-RUNE and ETH-RUNE, to the RUNE-centric network. 3.
THORChain has strong native swap implementation, but TSS security, node risk, and liquidity recovery limit maturity.
Investment View
Key tests are post exploit security fixes, TVL and volume recovery, and a verifiable cross chain security thesis.