What is the circulating supply of THORChain(RUNE) currency?

The circulating supply of THORChain (RUNE), a decentralized liquidity protocol, is 384 million RUNE, accounting for 62% of its total supply, influencing market liquidity and price stability.

Dec 11, 2024 at 03:18 pm

What is the Circulating Supply of THORChain (RUNE) Currency?

THORChain (RUNE) is a decentralized, non-custodial liquidity protocol that enables cross-chain trading of digital assets. The protocol utilizes a network of liquidity pools, allowing users to trade between different blockchains without the need for intermediaries. RUNE is the native cryptocurrency of the THORChain protocol, and it serves several key functions within the ecosystem.

Circulating Supply of THORChain (RUNE)

The circulating supply of THORChain (RUNE) is the total amount of RUNE tokens that are currently in circulation and available for trading. This includes RUNE held by investors, traders, and liquidity providers on the THORChain protocol. The circulating supply of RUNE is a dynamic figure that can fluctuate based on a variety of factors, including:

• Issuance: New RUNE tokens are continuously issued as rewards to liquidity providers on the THORChain protocol. This issuance rate is determined by the protocol's monetary policy and can be adjusted over time.
• Burns: RUNE tokens are burned when used to pay transaction fees on the THORChain network. A portion of the fees collected from cross-chain swaps is used to purchase and burn RUNE from the open market.
• Staking: RUNE holders can stake their tokens to participate in the security and governance of the THORChain protocol. Staked RUNE tokens are not considered part of the circulating supply.
• Trading: RUNE tokens can be bought and sold on cryptocurrency exchanges. Trading activity can temporarily impact the circulating supply of RUNE, as tokens are transferred between different wallets.

Importance of Circulating Supply

The circulating supply of RUNE is an important metric for understanding the health and liquidity of the THORChain ecosystem. A higher circulating supply generally indicates a more liquid market and can contribute to price stability. However, a rapidly increasing circulating supply can also lead to inflationary pressures, which can negatively impact the value of RUNE.

Current Circulating Supply of THORChain (RUNE)

As of March 8, 2023, the circulating supply of THORChain (RUNE) is approximately 384 million RUNE. This represents approximately 62% of the total supply of RUNE, which stands at 616 million RUNE.

Steps to Calculate the Circulating Supply of THORChain (RUNE)

1. Determine the Total Supply of RUNE: The total supply of RUNE can be found on the THORChain website or by using a reputable cryptocurrency data provider.
2. Subtract the Staked RUNE: The amount of RUNE that is currently staked on the THORChain network can be found on the protocol's website. Subtract this amount from the total supply.
3. Account for Burned RUNE: The total amount of RUNE that has been burned since the launch of the THORChain protocol can be found on the protocol's website. Add this amount to the result from step 2.
4. Adjust for Trading Activity: The circulating supply of RUNE can be temporarily impacted by trading activity. If desired, adjust the result from step 3 to account for recent trading volume and market conditions.

Additional Considerations

The circulating supply of THORChain (RUNE) is a dynamic figure that can change over time. The issuance, burning, staking, and trading of RUNE tokens all contribute to the circulating supply. Understanding the circulating supply is important for assessing the health and liquidity of the THORChain ecosystem.