I bought some RUNE today.
The time has come for me to add some diversification to my crypto portfolio. At present, it is 100% HIVE, either as HP, tokens on LeoDEX/Hive Engine, Splinterlands and Dcity. That's great and all, but part of the goal for me is to build a crypto based future to opt out of fiat over time. I think even the most optimistic of HIVE maximalists will agree that that wont be possible without some other "non-HIVE" investments.
What is RUNE?
- RUNE is the native token of Thorchain.
THORChain facilitates cross-chain liquidity pools with no pegged or wrapped tokens.
Swap between assets across chains. Stake assets to earn liquidity incentives. Run a node to service the network.
Quotes fromThorchain website
Ok, so to be totally honest, My understanding of Thorchain is not great. But I have a good vibe about it, some smart people seem very interested and bullish about its prospects, and @khaleelkazi loves it. He's brought it up in the LEO discord a few times. I'd really love it if he or one of the other smart Leofinance people wrote a LeoPedia article about it.
Buying RUNE:
Anyway, RUNE for now runs on the Binance chain. Uhggg. I didn't want to have to deal with Binance again after the #steemhostiletakeover saga, but it seems I will have to once again. There are other ways to get RUNE, but for what I need, BNB is going to be the easiest path, so I have to swallow my pride and log back into Binance for the first time in months.
The end-goal is RUNE staked via the Runevault. The easiest way I found to get there is by using "Trust Wallet". This is my first experience with trust wallet, and I must say I have been pleasantly surprised. If you don't know, Trust Wallet is a mobile wallet app, available from the App store. It is also owned, I found out, by Binance... Uhggg again.
The process, start to finish.
Buy some BTC. (Today I put the grand total of $25 AUD into my crypto investments, buying BTC on Coinbase. In future, I plan to use some of my HIVE income to add to my RUNE position. Having fiat available to buy crypto for me is a rare occurance)
Send BTC to Binance - Uhggg
Trade BTC to BNB.
Send BNB to my brand new trust wallet.
Swap via the trust wallet app (a surprisingly easy process I have to admit) the BNB to RUNE.
Link my Trust wallet to Runevault and stake the RUNE.
repeat daily with some HIVE instead of BTC.
How much RUNE will I earn?
RUNE staking is kind of in test mode at the moment. The staking returns are aimed at distribution and come from a pool at the moment, more like a faucet than true Proof Of Stake returns. Still...
Ding, Ding, Ding,
34% Annualised ROI. I'm in.
So now I'm the proud owner of a whoping big 32 RUNE tokens. MY huge stake puts me at 1679 out of the 1739 total wallets with RUNE staked.
In the coming days, I will share more about this investment as I learn more about the Thorchain itself. I'm a strong believer that sometimes the best way to learn and get involved in something new is to just dive in head first and learn along the way. I have a good feeling about RUNE, and that instinct is enough to get me started. Stay tuned (if you like) to see what I learn along the way.
Cheers,
P.S. Guess what happened today since I bought the RUNE? It went down in value.
Not Financial advice. I don't recommend anything to anyone. Do your own research - obviously.
Posted Using LeoFinance
I actually haven't pulled the trigger on RUNE yet but have been watching from afar as @nealmcspadden has recently jumped into the mix and @shanghaipreneur has been in it for a while and continues to praise the project. I'm still in the research phase but will probably join this bandwagon soon :)
Posted Using LeoFinance
Cool, I had seen some comments on Discord and thought you were in. I'm going to work on building it up slowly, bit by bit, day by day. My timing usually sucks so a dollar cost average every day for a while is probably best. I'll post more as I accumulate and learn more.
Posted Using LeoFinance
Yes, just don't forget to stake on RUNEvault. And pro tip: Buy on Mondays. That's when the RUNE drops happen and whales have liquid RUNE to sell to us little guys. Did you tweet this out? If not, do you mind if I do?
Yup, figured out the Runevault and staking it up. Good tip about Mondays, I'll keep an eye out for that.
Do you know if they just snapshot once a week, or average the weekly stake? Noob question, I know.
Feel free @shanghaipreneur to tweet it out, I forgot to.
Snapshot is taken sometime on Sunday night EST. Best to stake Sunday morning.