When was the THORChain (RUNE) coin issued?

THORChain (RUNE) coin was issued in June 2019 through an Initial Coin Offering (ICO), raising approximately $12 million.

Dec 08, 2024 at 03:30 pm

When was the THORChain (RUNE) Coin Issued?

Introduction

THORChain (RUNE) is a decentralized liquidity protocol that enables cross-chain trading and asset swaps without the need for intermediaries. Unlike centralized exchanges, THORChain operates on a network of nodes, ensuring the security and transparency of transactions. Since its launch, RUNE has gained significant traction in the cryptocurrency market, ranking among the top decentralized finance (DeFi) protocols.

THORChain (RUNE) Coin Issuance

• Initial Coin Offering (ICO): The THORChain (RUNE) coin was first issued through an Initial Coin Offering (ICO) held in June 2019. During the ICO, a total of 500 million RUNE tokens were sold, raising approximately $12 million.
• Circulating Supply: Currently, there are approximately 250 million RUNE tokens in circulation. The total supply of RUNE is capped at 500 million tokens.
• Token Distribution: The RUNE tokens were distributed as follows: 50% to ICO participants, 25% to the THORChain team, 15% to investors, and 10% to the community pool.

THORChain (RUNE) Functionality

• Cross-Chain Trading: THORChain allows users to trade assets between different blockchains securely and efficiently. By eliminating the need for centralized exchanges, THORChain reduces the risks of counterparty failure and asset custody.
• Asset Swaps: In addition to trading, THORChain also facilitates atomic asset swaps. This feature enables users to exchange assets directly from one blockchain to another without the need for an intermediary or wrapped tokens.
• Network of Nodes: THORChain operates on a network of nodes that validate transactions and secure the protocol. Node operators are incentivized to participate in the network through rewards in RUNE tokens.

THORChain (RUNE) Tokenomics

• Utility Token: RUNE is the native utility token of the THORChain network. It is used to pay transaction fees, stake for rewards, and participate in network governance.
• Staking: RUNE holders can stake their tokens to earn rewards in RUNE and contribute to the security and stability of the network.
• Governance: RUNE holders can participate in the governance of THORChain by voting on proposals that affect the protocol's development and operations.

Conclusion

The THORChain (RUNE) coin was issued in June 2019 through an Initial Coin Offering (ICO). The token serves as the native utility token of the THORChain network, enabling cross-chain trading, asset swaps, staking, and governance. With its focus on decentralization, security, and interoperability, THORChain has established itself as a leading player in the DeFi space.