THORChain (RUNE)
Unlock Schedule
THORChain (RUNE) Token Unlock & Vesting Schedule
As of October 17, 2026, 328.55 million of the 360 million RUNE (91.26%) have been released. The schedule is ongoing, with no final release date.
The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
Why RUNE is central
RUNE serves four connected purposes. It pairs with external assets in liquidity pools, acts as the settlement asset for swaps, forms the bond posted by node operators, and carries network fees and rewards. Pool deposits also help signal which assets receive priority, while active nodes vote on certain network settings. Holding RUNE alone does not give every holder an equal vote on every technical decision. (docs.thorchain.org)
THORChain originally created 500 million RUNE. The initial allocation included seed and public-sale portions, tokens for early developers and network participants, and a protocol reserve. Vesting of those early allocations has ended. Later changes burned much of the reserve and lowered the maximum supply to about 360 million RUNE. A portion of network fees is also burned, so the supply changes over time. (docs.thorchain.org)
The Incentive Pendulum adjusts how rewards are divided between node operators and liquidity providers. When pooled assets grow relative to bonded security, it directs more rewards toward nodes; when bonds are high relative to pool assets, it favors liquidity providers. The network aims for bonded RUNE worth roughly twice the external assets held in pools. Rewards are chiefly supported by network fees, with minimal reserve emissions under the documented schedule. (docs.thorchain.org)
Assumptions
THORChain’s historical RUNE budgets include investor and team vesting, sales, community incentives, operational spending and reserves; former lending repayments could also mint tokens. The dated chart retains the announced mainnet vesting payments and OTC transfer, and corrects its native-supply anchor to exclude 60 million standby-reserve tokens burned before distribution. Payment amounts for amended vesting, reserve rewards and several other budgets remain unresolved, while the chart’s dated payments and native-chain anchor include estimates. A further approximate reserve burn and incompatible reported burn measures prevent the chart from serving as a fully reconciled supply ledger.
- Seed investors: The original schedule was changed and the new timing is not yet published.
- Team and advisers: The original schedule was changed and the new timing is not yet published.
- Nine Realms team-allocation vesting package: The original schedule was changed and the new timing is not yet published.
- Community reserve and bootstrap incentives: Releases depend on recipients claiming tokens or on grants being awarded.
- RUNEVault staking incentives paid by October 2019: The sources give the amount but no release dates.
- Operational reserve: Releases depend on future governance or treasury decisions.
- Public IDO: The sources give the amount but no release dates.
- Protocol and standby reserves: Releases depend on future governance or treasury decisions.
- Reserve-funded node and liquidity-provider rewards: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- Former lending repayment mints: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- Network-fee distributions: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- 1. https://thorchain.org/rune/
- 2. https://runescan.io/
- 3. https://dev.thorchain.org/concepts/economic-model.html
- 4. https://dev.thorchain.org/architecture/adr-023-rune-supply-restructure.html
- 5. https://medium.com/thorchain/reduction-in-rune-total-supply-a8913adace82
- 6. https://blog.thorchain.org/thorchain-one-year-milestone
- 7. https://blog.thorchain.org/all-in-on-thorchain-security
- 8. https://blog.thorchain.org/thorchain-mainnet-achieved
- 9. https://blog.thorchain.org/thorchain-closes-additional-investment
- 10. https://blog.thorchain.org/runevault-staking-to-continue
- 11. https://blog.thorchain.org/monthly-treasury-report-694a1bd563809a001b66b6a0
- 12. https://blog.thorchain.org/update-on-operational-reserve
- 13. https://blog.thorchain.org/60m-rune-burned-lending-caps-increased
- 14. https://blog.thorchain.org/under-the-hood-rune-supply
- 15. https://blog.thorchain.org/thorfi-unwind
- 16. https://blog.thorchain.org/thorchain-tokenomics-as-of-oct-2025/
- 17. https://blog.thorchain.org/thorchain-quarterly-report-q2-2026
- 18. https://blog.thorchain.org/state-of-the-network-september-2026
- 19. https://blog.thorchain.org/how-thorchain-s-new-system-income-distribution-works
- 20. https://blog.thorchain.org/adr023-changing-rune-fdv
- 21. https://blog.thorchain.org/state-of-the-network-april
- 22. https://blog.thorchain.org/quarterly-treasury-report-q4-2021
Tokenomics Overview
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.
Perpetuals: 2 markets on Binance and Hyperliquid · $5.5M open interest
 Binance (CEX) | 1.1M | 97K/148K |
Binance (CEX) | 1M | 62K/143K |
 MEXC (CEX) | 209K | 1.7K/6.3K |
 KuCoin (CEX) | 68K | 14K/12K |
 Bybit (CEX) | 66K | 7.6K/7.3K |
 Kraken (CEX) | 66K | 89K/99K |
MEXC (CEX) | 54K | 808/2.3K |
 Gate.io (CEX) | 23K | 15K/17K |
Gate.io (CEX) | 21K | 38K/32K |
Kraken (CEX) | 4.1K | 61K/108K |
 HTX (CEX) | 349 | 0/0 |
KuCoin (CEX) | 1.2 | 666/3.6K |
Allocations
Parts of this allocation with their own release dates are charted as their own allocations; the chart shows the rest here.
Not yet scheduled: 111,454,501 tokens of its parts have no release date yet. The chart shows them as TBD from today, not as unlocked.
Description
#182
THORChain is a cross-chain exchange that enables swaps between 8 chains: Bitcoin, Ethereum, Binance Chain, Avalanche, Cosmos Hub, Dogecoin, Litecoin, and Bitcoin Cash. THORChain is secured by its native token, RUNE, which deterministically accrues value as more assets are deposited into the network.
| Sector: | Bridges |
| Blockchain: | Cosmos |
Tokenomics Overview
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.
Perpetuals: 2 markets on Binance and Hyperliquid · $5.5M open interest
Binance (CEX) | 1.1M | 97K/148K |
Binance (CEX) | 1M | 62K/143K |
MEXC (CEX) | 209K | 1.7K/6.3K |
KuCoin (CEX) | 68K | 14K/12K |
Bybit (CEX) | 66K | 7.6K/7.3K |
Kraken (CEX) | 66K | 89K/99K |
MEXC (CEX) | 54K | 808/2.3K |
Gate.io (CEX) | 23K | 15K/17K |
Gate.io (CEX) | 21K | 38K/32K |
Kraken (CEX) | 4.1K | 61K/108K |
HTX (CEX) | 349 | 0/0 |
KuCoin (CEX) | 1.2 | 666/3.6K |