THORChain (RUNE) price

RUNE is the base currency and is required to be provided along side every asset in pools. Without a native settlement currency, each asset would need to be pooled with every other asset, which would eventually result in hundreds of new pools to be created for just one new asset, diluting liquidity. If THORChain supported 1,000 chains, it would only need 1,000 pools. A competitor would need a whopping 499,500 pools… try to make those deep and useful. Illiquid pools are the enemy (ᚱ) RUNE fights.

Since (ᚱ) RUNE is bonded to assets in its pools, then as the value of those assets increase, then the (ᚱ) RUNE value will also increase. This means the system can become "aware" of the value of the assets it is trying to secure. Once it is aware of the value of the assets it is securing, it can use incentives to ensure security of those assets.(ᚱ) RUNE is worth 3X the value pooled of assets like BTC, ETH or BNB in its network.

Sybil-resistance refers to the ability to prevent someone masquarading as many identities in order to overcome a network. THORChain could be called a Proof of Bond network. In THORChain the nodes commit a (ᚱ) RUNE bond i.e. minimum of 1,000,000 (ᚱ) RUNE in order to be churned into the network. 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. Additionally, nodes have to perform a lot of mandatory services, else their (ᚱ) RUNE bond is deducted.