$RUNE Powers Every Swap on THORChain
The protocol can’t function without RUNE. Every liquidity pool pairs with RUNE, nodes bond RUNE to secure the network, and all yield is distributed in RUNE.
When you swap BTC for ETH, BTC is deposited into the pool, the equivalent dollar amount of RUNE is withdrawn from the pool and deposited into the ETH pool, then ETH is withdrawn from the pool and sent to you.
$RUNE Value Proposition
Pooled RUNE: Intrinsic value
The value of RUNE is backed by network liquidity, with all assets in the liquidity pools paired 1:1 with RUNE by dollar value.
- Total RUNE Pooled60.1M
- Total USD Pooled$23.9M
Bonded RUNE: Economic Security
Nodes secure the liquidity pools and App-Layer. RUNE has to be bonded to a node for it to enter the network. If nodes steal any crypto their bonds will be slashed resulting in the nodes losing value. More bonded RUNE means more economic security.
- Total RUNE Bonded96.6M
- Total USD Bonded$38.3M
RUNE Fees: Real Yield
You don’t need to own RUNE to swap on THORChain. Swap fees are deducted from the asset being sold and used to buy RUNE. This creates buy pressure on RUNE and forms the yield allocated throughout the network.
- 12M Fees$14.7M
- Bonding APR0.0%
$RUNE Tokenomics
The final RUNE token unlock occurred in 2023. All RUNE are in the circulating supply except 9 million tokens held in the reserve. When RUNE launched the total supply was 1 billion tokens. It was later reduced to 500 million and then again to 360 million. The burn mechanism now makes the total supply deflationary. The MC/FDV is approximately 97%.
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$0.59RUNE Price![]()
$198MRUNE Market Cap![]()
$15.8MProtocol Fees (12 Months)![]()
14RUNE P/E![]()
354,208,499RUNE Total Supply![]()
1,824,272RUNE Burned
Network Fees Distribution
All network fees come from real trading activity. No block rewards, no inflation, no token unlocks. The fees are allocated in the following manner.
