Thorstarter

What is Thorstarter?

Thorstarter is a decentralized protocol designed to enhance liquidity on the native Thorchain network. THORChain operates as a self-sufficient blockchain using the Cosmos SDK as a cross-chain decentralized exchange (DEX). The primary goal of this network is to facilitate efficient and secure swapping of crypto assets, enabling smart contract-enabled blockchains to access liquidity from any Thorchain-compatible chain. Thorstarter functions as an Initial DEX Offering (IDO) platform for new projects, providing them with substantial liquidity right from the outset. IDO represents an evolution from Initial Exchange Offerings (IEOs) and Initial Coin Offerings (ICOs) as it aims to raise funds and bootstrap projects.

In addition, Thorstarter asserts its capability to enable existing projects to connect with investors and participants across diverse blockchains by establishing a liquidity pool for their token paired with XRUNE, the native token of the Thorchain network. Thorstarter operates in harmony with the Thorchain ecosystem, leveraging its liquidity and capabilities while also contributing to its broader adoption.

About The XRUNE Token

The native currency, XRUNE, serves as a liquidity relay connecting the THORChain network with long-tail crypto assets, encompassing young projects characterized by low liquidity. XRUNE functions as the settlement currency facilitating transactions between new projects engaging in Initial DEX Offerings (IDOs) and the active pools within the THORChain network.

Holders of XRUNE have the opportunity to participate in IDOs and receive rewards by locking their XRUNE in the Forge. By staking in the Forge, members gain access to all Thorstarter IDOs and become eligible for rewards proportionate to their Forge shares.

Thorstarter Team Background

Compound22, who prefers to be addressed by the initials AM, is one of the three co-founders of the Thorstarter network. AM has actively engaged in the crypto space since 2016, providing investments and guidance to numerous projects, some of which have evolved into prominent DeFi blue chip projects. As an early investor in Thorchain, AM participated in their Initial DEX Offering (IDO) on Binance Chain.

An early project collaboration for AM involved working with Bancor, a pioneering protocol that implemented the Automated Market Maker (AMM) model. This model has become a fundamental feature adopted by various successful projects, including Uniswap, Sushiswap, and Thorchain. Shifting focus to the Thorstarter team, the marketing and operations personnel associated with the project have accumulated over six years of experience in the crypto space. They have collaborated with several well-known projects within the DeFi sector.

The developer team consists of four developers, with two working full-time. The lead developer is dedicated to crafting smart contracts and refining core features for the Thorstarter protocol, while the others play supporting roles in both front-end and back-end development. In addition, a substantial team of both full-time and part-time contractors is engaged to handle diverse supporting tasks as needed.

Some of Thorstarter's partners and backers include Thorchain, Nine Realms, Qi Capital, Olympus, Terra, True Ventures, Proof Group, Malbec...

Thorstarter Project Development

Thorstarter's latest IDO is zkFinance, a DeFi platform crafted on zk-EVM, a variant of the Ethereum Virtual Machine tailored to execute smart contracts through zero-knowledge proofs. This integration enhances user privacy and security, making it particularly well-suited for decentralized financial activities like lending, borrowing, and trading.

The team holds a firm belief in the potential of DeFi to democratize access to financial services and foster a more transparent, open, and inclusive financial system. Their overarching goal is to deliver the best possible user experience and provide access to the latest and most innovative DeFi products and services.

Thorstarter Price Analysis

As of December 25 2024 Thorstarter has a marketcap of $951K. This is {{percentagefromath}} from its all time high of $0.707193. In terms of its tokenomics, there's a total supply of 535M with 21% currently outstanding. Keep in mind Thorstarter has a fully diluted value of $4.5M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude