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What is the circulation amount of THORChain(RUNE) coins?
THORChain's circulating supply of RUNE coins, which enable cross-chain trading, currently stands at approximately 252 million RUNE, representing half of the total supply.
Dec 07, 2024 at 04:48 pm
What is the Circulation Amount of THORChain(RUNE) Coins?
THORChain (RUNE) is a decentralized liquidity protocol that enables cross-chain trading of cryptocurrencies without the need for intermediaries or wrapping assets. It aims to create a more efficient and interoperable decentralized finance (DeFi) ecosystem.
Circulation Amount of RUNE Coins
The total supply of RUNE coins is capped at 500 million. As of February 26, 2023, the circulating supply is approximately 252 million RUNE, representing around 50% of the total supply.
How is RUNE Used?
RUNE coins serve several critical functions within the THORChain ecosystem:
- Network Security: RUNE holders can stake their coins to earn rewards and participate in the consensus process, securing the network and validating transactions.
- Transaction Fees: Users pay transaction fees in RUNE to facilitate cross-chain swaps and other operations on the network.
- Governance: RUNE holders can participate in governance decisions and vote on proposals related to the protocol's development and operation.
Distribution of RUNE Coins
The initial distribution of RUNE coins was as follows:
- Seed Round (2019): 10%
- Private Round (2020): 20%
- Public Sale (2020): 30%
- Team and Advisors (Locked): 20%
- Liquidity Incentives: 20%
The remaining 20% of RUNE coins were allocated to the THORChain ecosystem for development, marketing, and other initiatives.
RUNE Tokenomics
The tokenomics of RUNE are designed to incentivize long-term holding and participation in the network:
- Staking Rewards: RUNE holders earn rewards for staking their coins, which encourages network security and stability.
- Transaction Fees: A portion of transaction fees is used to reward stakers and incentivize liquidity providers.
- Governance Rights: RUNE holders have governance power and can participate in decision-making processes related to the protocol's future.
Factors Affecting RUNE's Circulation Supply
The circulating supply of RUNE coins can be influenced by several factors, including:
- Staking Activity: When RUNE holders stake their coins, they reduce the circulating supply, which can support the price.
- New Issuance: If additional RUNE coins are released into circulation, the circulating supply will increase.
- Burn Mechanisms: Some mechanisms within the THORChain ecosystem may burn RUNE coins, permanently removing them from circulation.
- Token Lockups: A portion of RUNE coins may be locked for a period of time, temporarily reducing the circulating supply.
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