Multicoin Capitalは、分散型クロスチェーン自動マーケットメーカー（AMM）であるTHORChainのネイティブトークンであるRUNEに大きなポジションを蓄積しています。RUNEは、当社最大の公開ポジションの1つです。
THORChainは、ブロックチェーン全体においてスポットトークン（デリバティブだけではなく）を取引するための信頼できる、最小化された方法を提供するものであり、暗号化エコシステムの中で、より大きく多様化し続ける中で、ますます重要な役割を果たす暗号貿易インフラストラクチャの基盤となると考えています。
信頼を最小限に抑え、クロスチェーン取引を可能にする製品を構築する大きなチャンスがあります。多くのチェーンやトークンのある世界では、トレーダーは、信頼できる最小限の方法でチェーン全体での資産を取引できるようにしたいと考えています。
このようなクロスチェーン取引の最初の例は、Tier Nolanアトミックスワップでした。それ以来、単純な支払いの検証、リレー、マージされた合意などの他のものが登場してきました。しかし、最善の意図にもかかわらず、多くの理由（例：遅すぎる、自由なオプション問題、高すぎるなど）でどれもうまく普及することはありませんでした。
数年前に最初のクロスチェーンスワップ製品を発売して以来、暗号化エコシステムは多様化してきました。CoinGeckoの時価総額による上位25個トークンの80%は、ブロックチェーン内のレイヤー1トークンです。チェーンの多様性により、チェーン間においてスポットトークンを取引するための信頼性を最小限に抑えた分散型の方法が必要になるのです。
Solana、Polkadot、Near、Avalancheのような新たなスマートな契約プラットフォームが成長するにつれて、チェーン数が増加します。これらのエコシステムが成長するにつれて、暗号化の全体的な技術構成は均一化ではなく、より多様化することになります。
ほとんどの投資家は、勝つと思われるブロックチェーンに投資していますが、エコシステム全体の異質性が高まっていることに実際に投資している人はほとんどいません。 これは大きなチャンスであり、THORChainのRuneトークンがこの論文に投資する最良の方法であると考えています。
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