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| THORChain 
| #RUNE
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| RUNE Price: | $1.50 | | Volume: | $21.3 M | | All Time High: | $20.94 | | Market Cap: | $0.4 B |
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| Circulating Supply: | 277,290,603 |
| Exchanges: | 25
| | Total Supply: | 425,536,773 |
| Markets: | 34
| | Max Supply: | 500,000,000 |
| Pairs: | 40
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The price of #RUNE today is $1.50 USD.
The lowest RUNE price for this period was $0, the highest was $1.50, and the exact current price of one RUNE crypto coin is $1.50492.
The all-time high RUNE coin price was $20.94.
Use our custom price calculator to see the hypothetical price of RUNE with market cap of BTC or other crypto coins. |
The code for THORChain is #RUNE.
THORChain is 5.9 years old. |
The current market capitalization for THORChain is $417,300,721.
THORChain is ranked #107, by market cap (and other factors). |
The trading volume is large during the past 24 hours for #RUNE.
Today's 24-hour trading volume across all exchanges for THORChain is $21,276,025. |
| The circulating supply of RUNE is 277,290,603 coins, which is 55% of the maximum coin supply. |
| Note that there are multiple coins that share the code #RUNE, and you can view them on our RUNE disambiguation page. |
The Next Generation of THORChain Liquidity
How Savers changes the game when it comes to passive yield on THORChain.. — THORChain has always prioritised passive liquidity. This is the biggest market — make no doubt. Dual-LPs in THORChain deposit capital and hope to make yield. However, they are exposed to two assets on two chains and this was the UX-killer. The dev team attempted to solve this first by allowing assym-deposits. However the LP was still exposed to price shifts, which counted the efforts. Impermanent Loss Protection (ILP) was delivered to address this, and affords dual-LPs the ability to always buy back their original deposit amount. This solved the price-anxiety, but did not address the UX. What is ILP? If a legacy THORChain LP deposited 1.0 BTC in an infinitely deep BTC pool, they would be issued a deposit value of 0.5 BTC and 0.5 BTC in RUNE. This is recorded and insured. When they go to withdraw, the redemption values are compared with the deposit values and the shortfall made up. This shortfall would guarantee they leave with enough assets to buy back 0.5 BTC and 0.5 BTC worth of RUNE at the deposit prices.What is this? This is almost like single-sided deposit and yield, but via a convoluted User Experience (UX) involving another asset and not quite true single-sided exposure. — Enter THORChain Synths. — THORChain Synths are synthetic versions of L1 assets collateralised by liquidity units. 1.0 btc/btc is made up of 0.5 BTC... 
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Quarterly Treasury Report — Q1 2022
Quarterly Treasury Report — Q1 2022 — The treasury comprises of $217m, funding protocol development, liquidity and paying out to community grants. Liabilities have all been repaid. The protocol has 173m ($2.1bn) in RUNE reserves. Planned Obsolescence not before July 2022.. — Summary The treasury is at $217m. The Protocol Reserves total 173m RUNE, worth $2.1bn. These are allocated for Mainnet emissions, PoL and THORFi. Planned Obsolescence is guided not before July 2022.Operational Treasury The treasury comprises of $15m non-RUNE assets, $125m in RUNE and $76m in LP positions, total of $217m. These funds are spent on protocol development, technical costs and community grants. The LP Positions are maintained in THORChain to provide:yield on assetsliquidity for RUNELP of last resort Additional non-RUNE assets were secured in the quarter and added as LP:$2m in DOGE$2m in LUNA-UST assets — Non-RUNE Wallets. — https://mempool.space/address/31kzJsd591hcpCL47XkCkNP9UBXX1vCVCj https://explorer.binance.org/address/bnb13a7gyv5zl57c0rzeu0henx6d0tzspvrrakxxtv https://etherscan.io/address/0x53A2b972A0059C274B88E2526ed48455278523d4 https://etherscan.io/address/0x1c7b17362c84287bd1184447e6dfeaf920c31bbe#tokentxns — RUNE Wallets. — https://viewblock.io/thorchain/address/thor1505gp5h48zd24uexrfgka70fg8ccedafsnj0e3 https://viewblock.io/thorchain/address/thor14n2q7tpemxcha8zc26j0g5pksx4x3a9xw...
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Quarterly Treasury Report — Q4 2021
Quarterly Treasury Report — Q4 2021 — The treasury comprises of $146m, funding protocol development, liquidity and paying out to community grants. Liabilities have all been repaid. The protocol has 174m ($1.2bn) in RUNE reserves. Planned Obsolescence not before July 2022.. — Summary The treasury is at $146m. The Protocol Reserves total 174m RUNE, worth $1.2bn. These are allocated for Chaosnet & Mainnet emissions. Planned Obsolescence is guided not before July 2022.Operational Treasury The treasury comprises of $18m non-RUNE assets, $90m in RUNE and $38m in LP positions, total of $146m. These funds are spent on protocol development, technical costs and community grants. The LP Positions are maintained in THORChain and Uniswap to provide:yield on assetsliquidity for RUNELP of last resortLiabilities All liabilities have been re-paid. Occasionally some network instability issues or bugs cause unfair slashing events to nodes. Generally if these slashing events are put down to network issues, then they are refunded. After mainnet, this practice will cease, and instead Node Operators who are slashed should: 1) Attribute the slash to the cost of doing business as Node Operator; 2) Investigate the slash and raise a PR if a bug is found; 3) If slashed due to an external chain instability; then campaign to have that chain removed from the network. These market-based principles are important to ensuring t...
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Upgrading to Native RUNE
Deprecating IOU RUNE (BNB.RUNE and ETH.RUNE).. — SummaryIOU Tokens (BNB.RUNE and ETH.RUNE) will be deprecated after mainnet. Nodes will activate a “killswitch”, which will slowly reduce the redemption rate from 1.0 to 0.0 over the course of a year. After a year the upgrade code will be entirely removed and IOU tokens will no longer be supported. Upgrade your IOU tokens now. — How to Upgrade. — If you hold your tokens on a centralised exchange, the exchange will switch your tokens for you to Native RUNE. If you hold your tokens in a wallet:Create a THORChain wallet using any of the options: https://thorchain.org/ecosystem/interfaces-linksFind the “UPGRADE” button and upgrade your asset (note: you will need gas on your wallet, eg BNB for BNB.RUNE or ETH for ETH.RUNE) Several guides have been created:How to switch to Native RUNE using Ledger (2 ways) — THORNoobHow to Switch Binance $RUNE to Native $RUNE (2 Ways: Arbitrage, Upgrade) — THORSwapHow to: Upgrade to Native RUNE (THOR.RUNE) Using ThorSwap DEX — LP University.Why IOU tokens? THORChain is a proof-of-bond network, run autonomously by anon operators. If the network was launched with no prior distribution phase, the THORChain treasury could dictate the genesis node operators, eroding the decentralised qualities of the network. Instead, IOU RUNE on two networks, Binance Chain and Ethereum, was circulated for permissionless ac...
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All in on THORChain Security
Activating large RUNE holders to contribute to network security.. — — Update 13 Feb 2022. — The offer below was also extended to holders of team-vested RUNE: commit to a node for earlier vesting with positive take-up. Additionally, unlocks were accelerated to be all upfront in order to prioritise security. Community should expect to see more nodes come online in the weeks ahead. Team RUNE: Originally 50m (10%) was allocated to the team. Since the team anticipated growth, a large part of the allocation was left for future award. Part of this RUNE was sold under vesting in 2019 and 2020 to raise funds for the treasury. The remainder of this RUNE was awarded (under vesting) to team members who joined in 2019, 2020 and 2021, as well as most recently NineRealms, who are being awarded a vesting package. As a result of this, the devs are considering to raise the number of node slots to 120.Overview THORChain is backed by several large seed investors. These seed investors first backed THORChain in 2018 and early 2019. They locked their tokens indefinitely in October 2019 until mainnet was delivered. Seed allocation is roughly 5.2% (26m RUNE) of the network and is located on this address: https://viewblock.io/thorchain/address/thor16qnm285eez48r4u9whedq4qunydu2ucmzchz7pBacking THORChain Several seed investors are willing to back THORChain into 2022 and beyond. The most important aspect of THORChain this year is r...
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Quarterly Treasury Report — Q3 2021
Quarterly Treasury Report — Q3 2021 — The treasury comprises of $273m, funding protocol development, liquidity and paying out to community grants. Liabilities have been mostly repaid. The protocol has 177m ($2.5bn) in RUNE reserves. Planned Obsolescence July 2022.. — Summary The treasury is at $273m, with a debt of $6.2m. The Protocol Reserves total 177,689,566 RUNE, worth $2.5bn. These are allocated for Chaosnet & Mainnet emissions. Planned Obsolescence is set for July 2022.Operational Treasury The treasury comprises of $20m non-RUNE assets, $195m in RUNE and $57m in LP positions, total of $273m. These funds are spent on protocol development, technical costs and community grants. The treasury has increased partly due to the rise in value of holdings. The LP Positions are maintained in THORChain and Uniswap to provide:yield on assetsliquidity for RUNEdog-food the protocolLP of last resortLiabilities All liabilities have been re-paid except:5m XRUNE loan (1.5m secured)364k RUNE owed to network participants It is expected these will be re-paid in the coming month.Debt THORChain treasury has a $4m Line of Credit with IronBank, of which all outstanding debt has been repaid. There is discussions with the Cream Team to reverse the Line of Credit and allow Cream to borrow 485k ETH.RUNE to repay their users following their recent hack. There is no impact to the wider treasury if this is pursued.Prot...
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Monthly Treasury Report — July&August 2021
Monthly Treasury Report — July&August 2021 — The treasury comprises of $194m, funding protocol development, liquidity and paying out to community grants. Liabilities have been secured. The protocol has 180m in RUNE reserves. Planned Obsolescence July 2022.. — Summary The treasury is at $194m, sufficient for the roadmap. Community grants can be allocated. Liabilities totalling $30m but have been secured and are waiting to be discharged. The Protocol Reserves total 179,093,899 RUNE, worth $1.8bn. These are allocated for Chaosnet & Mainnet emissions. Planned Obsolescence is set for July 2022.Operational Treasury The treasury comprises of $45m USD liquid and $148m in RUNE, total of $194m. These funds are spent on protocol development, technical costs and community grants. The treasury has increased partly due to the rise in value of holdings. — Liabilities. — The total cost incurred from the Ethereum Router exploits totalled $16m at the time. The treasury set out a 3-stage plan to cover the liabilities:Secure 1/3rd immediately with liquid treasury assets (done)Secure 1/3rd immediately with loan from IronBank (done)Pay the final 1/3rd at the time of restoring solvency by adding RUNE directly to the pool when the network is re-launched. (3) is needed since the price of assets will fluctuate and the actual pool ratios will change until the network is re-launched. As of 30 August 2021, the fu...
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Hardening the THORChain Protocol
Steps taken to make THORChain more resilient to attacks and network uncertainty.. — Overview There are number of changes being made to the THORChain protocol to make it more impervious to attacks, and being able to react quicker to save funds. These changes have been made from first-hand experience of several attacks, where the behaviour of the attacker, node operators and community were observed. This is a key part to formulating exactly what should be done and where. The intent of these changes is to make any attacker think launching an attack on THORChain as not even worth the attempt, instead they should just file for a bounty and get paid. To do this, more power is given to nodes, more checks are in place continuously, and funds leaving the system are throttled to slow down leaks. The last point to stress, is that these changes will have an interim negative effect on User Experience. Once these changes are live, the THORChain protocol is likely to pause more frequently, and swaps will take longer to settle. Wallet operators will need to communicate chain pause status continually, seamlessly detecting a pause and communicating this to users. Users on fast chains (BNB) will notice the settlement delay and as a result volumes may drop on these chains. Over time as the network gains stability, the sensitivity of the network will be tuned down to improve UX. They are:Automatic Solvency CheckerGranular Network Pause...
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Post-mortem: ETH Router Exploits 1 & 2, and premature Return To Trading Incident
The ETH Router Exploit 1 & 2, Premature Trading, fixes and network response, as well as the 5 Pronged Response.. — Summary THORChain suffered two back to back exploits on its ETH Router. The first took all the ETH from the system via an attack contract that sat in front of the Router, and the second took all the economically significant ERC20s via an attack contract that sat behind the router. In both cases the exploits were able to trick the Bifrost into reporting receiving assets it had not. The root cause was a Bifrost interface that did not fully account for the degrees of manipulation that can occur in smart contract events. No other chains or assets were affected. The THORChain team and community have kicked off a 5-Pronged Plan to address, fix and recover. They are detailed below. The THORChain treasury will cover all losses to LPs. Nodes are not affected.Exploit 1 — ETH The attacker deployed a contract that sat in front of the Router, which was able to call the deposit() function of the Router. The ability for the Router to be wrapped was recently made available to support ecosystem development. The full scope of this was not assessed thoroughly at the time. The attack contract simply diverted the msg.value back to themselves, calling with a value of 0 into the Router. The Bifrost read the msg.value instead of the emitted deposit event. This is necessary to support Router upgrades, but should not ha...
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Post-mortem: ETH Router Upgrade
The ERC-777 re-entrancy bug, trading halt, Router Upgrade, USDT rescue, return to solvency and operational, improvements. — Summary On 9th July 2021, a whitehat discovered a vulnerability in the THORChain router when dealing with ERC-777 tokens and worked with the team to rescue the funds back to the THORStarter deployer account. The Router was patched and deployed to testnet, but during testing an issue when dealing with non-standard ERC-20’s was found, specifically USDT. A recovery plan was posed to the community, which was to rescue the USDT back to the treasury (after a 24 hour notice) and the rest of the tokens migrated via the normal Router Upgrade path. Complications arose since simultaneously the Testnet was found to not be operational, so a new one had to be established. Ultimately the router was upgraded and trading resumed.Details — ERC-777 Re-entrancy. — A simple bug, but not one contemplated at the time the Router was deployed or reviewed by the THORChain community for MCCN launch. An audit of the Router was scheduled to be performed by TrailOfBits in July, which will go ahead but now on Router V3. The root cause is that ERC-777 allows hooks to be called on transfers. This is the same as sending ETH to a contract (a hook can be called). The hook called a secondary deposit into the router, which caused the funds to be partially “double-dipped” and the member credited more allowance than th...
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