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The THORChain multi-chain liquidity protocol team announced the start of the mainnet project. According to CoinGecko, the native utility token RUNE reacted with an 11% gain. ❗️Announcement: Mainnet
The THORChain multi-chain liquidity protocol team announced the start of the mainnet project. According to CoinGecko, the native utility token RUNE reacted with an 11% gain.
❗️Announcement: Mainnet
Since April 2021, THORChain has been hardening under the beta tag Multichain Chaosnet, which will now migrate to Mainnet.
Read: https://t.co/aLOpEUp9iQ (🧵1/8)
— THORChain (@THORChain) June 22, 2022
“From its inception in 2018 to date, THORChain has been primarily a research project. “Mainnet marks the emergence of the protocol as a fully functional product with many features, a rich ecosystem and a strong community.”
Last week the price of RUNE increased by 30%. At the time of writing, the token is trading around $2.19.
THORChain is a decentralized protocol that allows users to exchange assets through liquidity pools on various networks such as BNB Chain and Ethereum. The project also supports operations with synthetic assets.
According to the developers’ own data, during its operation, the protocol processes on-chain exchanges worth more than $3.8 billion. The amount of funds blocked in their smart contracts exceeds $300 million.
Initially, the RUNE token was issued on the BNB Chain and Ethereum networks. With the release of the mainnet, support for these assets “will be phased out.” Token holders were advised to replace them with local ones.
The listing for the latter has already been announced by a number of centralized exchanges, including Binance and Crypto.com.
a/ @THORChain Mainnet is opening the floodgates! @binance, @kucoincomand @cryptocom all announced that they will support the native $RUNE the last few days. what an exciting time to be #ThorChad! LFG!
— ImpossibleHunter77⚡ (@ImpossibleHunt7) 23 June 2022
As part of the mainnet launch marketing campaign, the THORChain team introduced the Rune in a Million initiative with Binance. The second includes distribution among platform users of $1 million in RUNE.
Recall that in November 2021, the decentralized THORSwap exchange based on THORChain attracted $3.75 million after a private token sale.
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