What is RUNE

1. Project Introduction
THORChain is a cross-chain decentralized protocol that enables native asset swaps across different blockchains. Its products include the THORChain Layer 1 blockchain, a cross-chain DEX, Synthetics (synthetic assets), and THORChain Lending. Built on the Tendermint & Cosmos SDK, THORChain allows non-custodial cross-chain asset exchanges. The DEX facilitates the swapping of native tokens across chains; THORSynths are synthetic assets of L1 tokens that enhance transaction speed while reducing costs; and THORChain Lending allows users to lend their native Layer 1 assets (like BTC and ETH) to THORChain and borrow debt in USD without liquidation, interest payments, or expiry.
Summary: THORChain has been around for six years, having survived hacker attacks, and the team continues to deliver. In July 2023, THORSwap introduced the "Streaming Swap" feature, enabling instant large cross-chain asset swaps. In August, Thorchain Lending was officially launched. With the growing interest in Bitcoin and the Cosmos ecosystem at that time, the platform saw impressive metrics in trading volume, TVL, and token price by the end of 2023.
2. Team & Investment Info
John-Paul Thorbjornsen: Founder of THORChain and Vultisig. He joined the Royal Australian Air Force in 2007 and began training as a fighter pilot in 2012. In 2017, Thorbjornsen left his military career to venture into cryptocurrency.
Funding: According to public information, THORChain has completed four funding rounds, though the total amount raised is relatively low. The supporting investors include Delphi Digital, Multicoin Capital, X21 Capital, Zee Prime Capital, NXTBlock Capital, Qi Capital, Coin98 Ventures, and OPW Ventures.
3. Social Media URLs
X: https://x.com/THORChain
Telegram: https://t.me/thorchain_org
Discord: https://discord.com/invite/c4EhDZdFMA
4. Token Info
Token Symbol: RUNE
Total Supply: 413,721,276
Token Type: THORChain mainnet
Minting/Burning Mechanism: The lending portion of RUNE includes both minting and burning mechanisms. If inflation causes RUNE’s supply to hit the 500 million cap, a circuit breaker will pause the lending function.
Block Explorer:
https://thorchain.net/dashboard
Token Distribution:
The tokens are almost fully circulated. As of October 2023, THORChain announced that its RUNE token has been entirely allocated to the protocol and reserves. The treasury holds only 7 million tokens (2% of the circulating supply) for funding the ecosystem. All tokens held by early seed investors, the team, and other investors were unlocked months ago, and all VC investors have exited.
5. Related Links
Official Website: https://thorchain.org/
White Paper: https://docs.thorchain.org/
Linktree: https://linktr.ee/thorchain
Other Info: https://www.rootdata.com/Projects/detail/THORChain?k=MjUz