Validators process transactions and store information & liquidity providers deposit funds into THORChain. Validators & liquidity providers receive transaction fees from traders (supply-side fees).

THORChain is a smart contract platform for cross-chain exchange (a blockchain). THORChain was founded by a pseudo-anonymous team and launched in 2018.

RUNE tokenholders own and govern the protocol. They do not currently take a cut of the total transaction fees paid by traders (revenue). THORChain's investors include Multicoin Capital, yield ventures, etc.

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THORChain

# Circulating supply Methodology

## Overview

Circulating supply measures the number of tokens that are currently available for trading on the open market. It excludes tokens that are locked, unvested, or held in the project’s own treasury.

Number of tokens currently available for trading on the open market.

THORChainRUNE

Circulating supply

Circulating supply

Competitive landscape