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What is the issuance and circulation of THORChain(RUNE) coins?
THORChain, a decentralized liquidity network, utilizes the RUNE token (supplied through a public sale and held in reserve by its Foundation) for staking, governance, and transaction processing.
Dec 07, 2024 at 10:31 am
What is the Issuance and Circulation of THORChain (RUNE) Coins?
THORChain is a decentralized cross-chain liquidity network that allows users to swap assets between different blockchains without the need for a centralized intermediary. The network is powered by the RUNE token, which is used for staking, governance, and transaction fees.
Issuance of RUNE Coins
The total supply of RUNE coins is 500 million. The coins were initially distributed through a public sale in 2019. The sale raised approximately $16 million.
Circulation of RUNE Coins
As of March 2023, there are approximately 300 million RUNE coins in circulation. The remaining 200 million coins are held in reserve by the THORChain Foundation.
Use Cases of RUNE Coins
RUNE coins have a number of different use cases within the THORChain network. These include:
- Staking: RUNE holders can stake their coins to earn rewards and help secure the network.
- Governance: RUNE holders can vote on proposals that affect the development of the network.
- Transaction fees: RUNE is used to pay transaction fees on the THORChain network.
Factors Affecting the Issuance and Circulation of RUNE Coins
There are a number of factors that can affect the issuance and circulation of RUNE coins. These include:
- The demand for RUNE coins: The demand for RUNE coins is driven by the number of users who are using the THORChain network. As the network grows, the demand for RUNE coins is likely to increase.
- The supply of RUNE coins: The supply of RUNE coins is controlled by the THORChain Foundation. The foundation can issue new coins or sell coins from its reserves to meet the demand for RUNE coins.
- The price of RUNE coins: The price of RUNE coins is determined by the market. The price of RUNE coins can fluctuate based on the supply and demand for the coins.
Conclusion
The issuance and circulation of RUNE coins is an important aspect of the THORChain network. The coins are used for staking, governance, and transaction fees. The demand for RUNE coins is likely to increase as the THORChain network grows.
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