Summary
We propose to add $RUNE to CREAM for lending and borrowing.
THORChain
THORChain is a cross-chain Uniswap and decentralized liquidity network based on Tendermint& Cosmos-SDK and utilizing Threshold Signature Schemes (TSS) to create a marketplace of liquidity for digital assets to be traded in a trustless, permissionless & non-custodial manner.
THORChain has launched a single chain chaosnet that currently supports the Bitcoin blockchain and soon ERC-20 assets. At the same time, THORChain communities are working on Cosmos (ATOM) ăPolkadot ăZilliqaăMonero/HavenăBitcoinCash and Solana.
$RUNE
$RUNE is the governance token of THORChain. The function of $RUNE in the Thorchain network is as the settlement asset that secures the network through the token economy. $RUNE is also used as an incentive to reward liquidity providers and subsidize gas. $RUNE was one of the best performing exchange tokens in 2020, and gained more than 3000% last year.
THORChain recently released ERC-20 $RUNE in addition to the BEP version of the token. Since launching the ERC-20 version of $RUNE in mid-January, liquidity on Sushiswap has already passed US$15M.
Benefits for CREAM
BEPSwap is the cross-chain DEX powered by THORCHAIN built on the Binance Chain - THORChain plans to replace this with their cross-chain dex ASGARD - this will help the CREAM ecosystem bridge ERC20 and BEP assets.
THORChain is included in CREAM partnerâs Sushiswapâs 2021 roadmap as the ideal partner for Sushiswapâs crosschain DEX integration. There are also numerous token pairs in the Yearn ecosystem that could benefit from crosschain options.
With so many incredible developments from $RUNE and the huge potential market of cross-chain DEXes, we predict that $RUNE will be the next blue chip DeFi asset. This will bring more TVL to CREAM over time.
Action Item
For: Add $RUNE to CREAM.
Against: Do nothing.
(ERC) $RUNE Contract Address: 0x3155ba85d5f96b2d030a4966af206230e46849cb
