{"id":548295,"date":"2023-08-22T01:00:40","date_gmt":"2023-08-22T01:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=548295"},"modified":"2024-06-11T14:39:45","modified_gmt":"2024-06-11T14:39:45","slug":"rune-beyond-swaps-thorchain-introduces-new-lending-protocol","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/rune-beyond-swaps-thorchain-introduces-new-lending-protocol\/","title":{"rendered":"RUNE Beyond Swaps: THORChain Introduces New Lending Protocol"},"content":{"rendered":"

In a recent development, THORChain (RUNE), the liquidity network, has <\/span>unveiled <\/span><\/a>its lending feature, enabling users to leverage their native Layer-1 (L1) assets, such as Bitcoin (BTC) and Ethereum (ETH), to secure loans denominated in TOR, a USD equivalent stablecoin.\u00a0<\/span><\/p>\n

According to the announcement, this move opens up new avenues for financial participation, allowing users to borrow funds without the \u201cburdens\u201d of interest, liquidations, or expiration.<\/span><\/p>\n

THORChain Introduces Interest-Free Loans<\/span><\/h2>\n

The lending process is designed to be user-friendly and \u201cstraightforward,\u201d focusing on minimizing cognitive burden.\u00a0<\/span><\/p>\n

Depending on prevailing market conditions, borrowers can collateralize their assets within a range of collateralization ratios (CR), ranging from 200% to 500%. The CR determines the amount of debt borrowers can receive in proportion to their collateral.<\/span><\/p>\n

Related Reading: Bitcoin Price Follows This 1930\u2019s Chart, Why BTC Could Keep On Falling<\/a><\/div>\n

One of the critical advantages of THORChain’s lending protocol is the absence of interest charges. By eliminating interest, the protocol encourages borrowers to hold onto their loans for extended periods, thereby increasing the equity value of the protocol.\u00a0<\/span><\/p>\n

This approach aims to align the interests of borrowers with the protocol itself, fostering a mutually beneficial ecosystem.<\/span><\/p>\n

Furthermore, THORChain’s lending system does not involve liquidations. In traditional lending models, borrowers risk having their collateral forcibly sold if its value falls below a certain threshold.\u00a0<\/span>However, THORChain’s design eliminates this risk by treating the collateral as equity (RUNE IOU).\u00a0<\/span><\/p>\n

Consequently, if the collateral falls below the debt value, it does not pose a problem, as the stored equity acts as the liability. Per the report, this approach ensures a more user-friendly experience and eliminates the need for borrowers to monitor asset prices constantly.<\/span><\/p>\n

The loans issued through THORChain’s lending feature have a minimum period of 30 days, providing borrowers with flexibility.\u00a0<\/span><\/p>\n

Repayment can occur anytime after the initial 30-day period, allowing borrowers to manage their debt according to their circumstances. Partial repayments are also possible, although the collateral is not released until the debt is fully repaid.<\/span><\/p>\n

THORChain’s Circuit Breaker System<\/span><\/h2>\n

To enhance security and protect against inflation, THORChain has implemented a circuit breaker mechanism.\u00a0<\/span><\/p>\n

In the event of a drastic drop in RUNE\u2019s price-native token of the THORchain network- against collateral assets such as BTC and ETH, which could lead to net inflation of RUNE, the system will pause new loans and disable the lending feature.\u00a0<\/span><\/p>\n

At this point, no further inflation of RUNE can occur, and the protocol’s reserve will cover the remaining collateral payouts.<\/span><\/p>\n

Initially, the lending feature will support BTC and ETH collateral, with plans to expand to other Layer 1 gas assets, including Binance Coin (BNB), Litecoin (LTC), Avalanche (AVAX), and DOGE.\u00a0<\/span><\/p>\n

According to the announcement, this expansion will further diversify borrowing options, accommodating a broader range of users and assets.<\/span><\/p>\n

Related Reading: Gemini Hits Back At SEC Lawsuit With Dismissal Filing<\/a><\/div>\n

Overall, with the introduction of the lending feature, THORChain takes a significant step toward expanding financial opportunities within its liquidity network.<\/span><\/p>\n

\"THORchain
RUNE’s decline on the daily chart. Source: RUNEUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

As of the latest update, THORChain’s native token, RUNE, has experienced a decline of nearly 8% within the past 24 hours, currently trading at $1.694, despite the anticipation surrounding the announcement of the new lending protocol.<\/span><\/p>\n

Nevertheless, the token has successfully maintained substantial gains of 20% and 80% over the past seven and fourteen days, respectively, attributed to a simultaneous increase in the social volume of the THORChain cryptocurrency.<\/span><\/p>\n

Featured image from iStock, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

In a recent development, THORChain (RUNE), the liquidity network, has unveiled its lending feature, enabling users to leverage their native Layer-1 (L1) assets, such as Bitcoin (BTC) and Ethereum (ETH), to secure loans denominated in TOR, a USD equivalent stablecoin.\u00a0 According to the announcement, this move opens up new avenues for financial participation, allowing users to borrow funds without the \u201cburdens\u201d of interest, liquidations, or expiration. THORChain Introduces Interest-Free Loans The lending process is designed to be user-friendly and \u201cstraightforward,\u201d focusing on minimizing cognitive burden.\u00a0 Depending on prevailing market conditions, borrowers can collateralize their assets within a range of collateralization ratios (CR), ranging from 200% to 500%. The CR determines the amount of debt borrowers can receive in proportion to their collateral. Related Reading: Bitcoin Price Follows This 1930\u2019s Chart, Why BTC Could Keep On Falling One of the critical advantages of THORChain’s lending protocol is the absence of interest charges. By eliminating interest, the protocol encourages borrowers to hold onto their loans for extended periods, thereby increasing the equity value of the protocol.\u00a0 This approach aims to align the interests of borrowers with the protocol itself, fostering a mutually beneficial ecosystem. Furthermore, THORChain’s lending system does not involve liquidations. In traditional lending models, borrowers risk having their collateral forcibly sold if its value falls below a certain threshold.\u00a0However, THORChain’s design eliminates this risk by treating the collateral as equity (RUNE IOU).\u00a0 Consequently, if the collateral falls below the debt value, it does not pose a problem, as the stored equity acts as the liability. Per the report, this approach ensures a more user-friendly experience and eliminates the need for borrowers to monitor asset prices constantly. The loans issued through THORChain’s lending feature have a minimum period of 30 days, providing borrowers with flexibility.\u00a0 Repayment can occur anytime after the initial 30-day period, allowing borrowers to manage their debt according to their circumstances. Partial repayments are also possible, although the collateral is not released until the debt is fully repaid. THORChain’s Circuit Breaker System To enhance security and protect against inflation, THORChain has implemented a circuit breaker mechanism.\u00a0 In the event of a drastic drop in RUNE\u2019s price-native token of the THORchain network- against collateral assets such as BTC and ETH, which could lead to net inflation of RUNE, the system will pause new loans and disable the lending feature.\u00a0 At this point, no further inflation of RUNE can occur, and the protocol’s reserve will cover the remaining collateral payouts. Initially, the lending feature will support BTC and ETH collateral, with plans to expand to other Layer 1 gas assets, including Binance Coin (BNB), Litecoin (LTC), Avalanche (AVAX), and DOGE.\u00a0 According to the announcement, this expansion will further diversify borrowing options, accommodating a broader range of users and assets. Related Reading: Gemini Hits Back At SEC Lawsuit With Dismissal Filing Overall, with the introduction of the lending feature, THORChain takes a significant step toward expanding financial opportunities within its liquidity network. As of the latest update, THORChain’s native token, RUNE, has experienced a decline of nearly 8% within the past 24 hours, currently trading at $1.694, despite the anticipation surrounding the announcement of the new lending protocol. Nevertheless, the token has successfully maintained substantial gains of 20% and 80% over the past seven and fourteen days, respectively, attributed to a simultaneous increase in the social volume of the THORChain cryptocurrency. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":548296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1020,6664,86517,85641,83439],"class_list":["post-548295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-crypto","tag-rune-price","tag-runeusdt","tag-thorchain"],"acf":[],"yoast_head":"\nRUNE Beyond Swaps: THORChain Introduces New Lending Protocol<\/title>\n<meta name=\"description\" content=\"THORChain (RUNE) has unveiled its anticipated lending feature, enabling users to leverage their native Layer-1 assets, such as BTC and ETH.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.","sameAs":["https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=","https:\/\/x.com\/Rmmcapital"],"url":"https:\/\/wncen.com\/author\/ronaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"RUNE Beyond Swaps: THORChain Introduces New Lending Protocol","url":"http:\/\/wncen.com\/news\/rune-beyond-swaps-thorchain-introduces-new-lending-protocol\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/rune-beyond-swaps-thorchain-introduces-new-lending-protocol\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/Downloader.la-64e3b7bb38573.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/Downloader.la-64e3b7bb38573.jpg?fit=1024%2C717"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Ronaldo Marquez"}],"creator":["Ronaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain","crypto","rune price","runeusdt","thorchain"],"dateCreated":"2023-08-22T01:00:40Z","datePublished":"2023-08-22T01:00:40Z","dateModified":"2024-06-11T14:39:45Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"RUNE Beyond Swaps: THORChain Introduces New Lending Protocol\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/rune-beyond-swaps-thorchain-introduces-new-lending-protocol\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/rune-beyond-swaps-thorchain-introduces-new-lending-protocol\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/Downloader.la-64e3b7bb38573.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/Downloader.la-64e3b7bb38573.jpg?fit=1024%2C717\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Ronaldo Marquez\"}],\"creator\":[\"Ronaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain\",\"crypto\",\"rune price\",\"runeusdt\",\"thorchain\"],\"dateCreated\":\"2023-08-22T01:00:40Z\",\"datePublished\":\"2023-08-22T01:00:40Z\",\"dateModified\":\"2024-06-11T14:39:45Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/Downloader.la-64e3b7bb38573.jpg?fit=1024%2C717","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/548295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/589"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=548295"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/548295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/548296"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=548295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=548295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=548295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}