{"id":475432,"date":"2022-07-19T04:39:25","date_gmt":"2022-07-19T01:39:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/rune-pumps-18-as-thorchain-deactivates-non-native-tokens\/"},"modified":"2022-07-19T04:39:25","modified_gmt":"2022-07-19T01:39:25","slug":"rune-pumps-18-as-thorchain-deactivates-non-native-tokens","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/rune-pumps-18-as-thorchain-deactivates-non-native-tokens\/","title":{"rendered":"# RUNE Pumps 18% as THORChain deactivates non-native tokens"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33f0ab73963\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33f0ab73963\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/rune-pumps-18-as-thorchain-deactivates-non-native-tokens\/#%E2%80%9D_RUNE_Pumps_18_as_THORChain_deactivates_non-native_tokens_%E2%80%9C\" >&#8221; RUNE Pumps 18% as THORChain deactivates non-native tokens  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_RUNE_Pumps_18_as_THORChain_deactivates_non-native_tokens_%E2%80%9C\"><\/span>&#8221; RUNE Pumps 18% as THORChain deactivates non-native tokens  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvY2Q1MWVkMmMtZThhMy00OTRjLWEzZWMtNzc3ZjVhYTMyM2MyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Cross-chain exchange and proof-of-bond network THORChain has finally activated the killswitch that will progressively wind down support of the BEP-2 and ERC-20-based variants of the RUNE token.\u00a0<\/p>\n<p>BNB.RUNE, and ETH.RUNE, also known as IOU Tokens, are being sw<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed out for the upgraded and completely native RUNE token after THORChain\u2019s long-awaited mainnet late last month. <\/p>\n<p>Moving forward, these tokens will progressively lose their value over the next 12 months as the project aims to foster adoption of its fully unified variant of RUNE, enabling stronger asset interoperability. <\/p>\n<p>Users who hold their IOU Tokens on centralized changes will have their tokens automatically upgraded to the new native RUNE. Those who keep their tokens in private wallets must create a new wallet supported by THORChain and then click an upgrade button to make the switch. <\/p>\n<p>The THORChain team stated via <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on July 18 that killswitch will go live at block 6500000 and that 1:1 exchange rates will \u201clinearly tick down to 1:0 over the next 12 months\u201d as the IOU Tokens become worthless. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, the BEP-2 and ERC-20 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24RUNE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$RUNE<\/a> killswitch will be activated at block 6500000. Upgrades will no longer be 1:1. Exchange rates will linearly tick down to 1:0 over the next 12 months.<\/p>\n<p>If you hold <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24RUNE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$RUNE<\/a> in a self-custody wallet, ensure your wallet address begins with `thor1&#8230;`<\/p>\n<p>\u2014 THORChain (@THORChain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/THORChain\/status\/1549078524253847553?ref_src=twsrc%5Etfw\">July 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe team previously <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/thorchain\/upgrading-to-native-rune-a9d48e0bf40f\">stated<\/a> in a blog post earlier this year that this move was part of a push towards further decentralization of its network, as it highlighted issues with having IOU RUNE spread across two separate networks: <\/p>\n<blockquote><p>\u201cTHORChain is extremely strict in having no 3rd party dependencies, preferring to manage everything in-house. There are no oracles, no off-shored security, and no reliance on external liquidity.\u201d<\/p><\/blockquote>\n<p>\u201cHowever, BNB.RUNE and ETH.RUNE has privileged access to the state machine\u2019s \u201cmint\u201d function. Anyone presenting these tokens can mint fresh RUNE, as well as making THORChain\u2019s state dependent on these two networks,\u201d the blog post read. <\/p>\n<p>The move from THORChain has coincided with a significant 18.6% bounce of RUNE prices to $2.61 over the past 24 hours. Measuring over a broader time frame also shows promising signs, with RUNE gaining 65.9% over the past 30 days, according to data from CoinGecko. However RUNE is still down 87.5% since its all-time high of $20.87 from May 19 last year.<\/p>\n<p> <strong><em>Related: <\/em><\/strong><strong><em>Total crypto market cap reclaims $1 trillion as Bitcoin, Ethereum and altcoins breakout<\/em><\/strong><\/p>\n<p>Apart from enabling users to swap assets by liquidity pools across various networks such as Binance Smart Chain, Ethereum, Dogecoin, and Bitcoin, THORChain also supports the trading of synthetic assets, which are tokenized derivatives that mimic the value of other assets such as stocks and commodities. <\/p>\n<p>Under the recently launched mainnet, the project aims to provide enhanced security measures and network stability, greater decentralization, a new governance process, establish new chain integrations, wallet integrations, aggregator implementations, and roll out a single-sided yield feature. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/rune-pumps-18-as-thorchain-deactivates-non-native-tokens\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; RUNE Pumps 18% as THORChain deactivates non-native tokens &#8220; Cross-chain exchange and proof-of-bond network THORChain has finally activated the killswitch that will progressively wind down support of the BEP-2 and ERC-20-based variants of the RUNE token.\u00a0 BNB.RUNE, and ETH.RUNE, also known as IOU Tokens, are being swapped out for the upgraded and completely native&#8230;<\/p>\n","protected":false},"author":1,"featured_media":475433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvY2Q1MWVkMmMtZThhMy00OTRjLWEzZWMtNzc3ZjVhYTMyM2MyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75012,127139,74892,103657],"class_list":["post-475432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-derivatives","tag-synthetix","tag-tokens","tag-upgrade"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=475432"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/475433"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=475432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=475432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=475432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}