THORChain’s native coin, RUNE, serves multiple roles in the network.
Value and Utility
RUNE’s price has two factors: a deterministic value based on the liquidity within the network, and a speculative premium.
Its 2:1 bond:pool ratio, combined with the 1:1 RUNE-Asset pairs in the liquidity pools means that the value of RUNE needed in the network is three times the value of the non-RUNE assets locked.
If $1,000,000 worth of non-RUNE tokens are deposited in THORChain, the market cap of RUNE will be at least $3,000,000. This is just the minimum, or deterministic value, of RUNE.