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 Maximum token supply Methodology

## 1. Overview

The THORChain maximum token supply metric represents the theoretical maximum number of RUNE tokens that can ever exist according to the protocol's tokenomics design. This is a static configuration metric that provides the upper bound for token supply calculations and represents a fundamental protocol parameter rather than a dynamically calculated value from blockchain activity.

## 2. Data sources

This metric relies on static protocol specification data rather than dynamic blockchain events:
- **Protocol documentation**: THORChain's official tokenomics specifications defining the maximum supply cap
- **Token economics design**: The predetermined maximum supply limit established at protocol launch
- **Configuration data**: Hardcoded protocol parameters that define the token supply ceiling

## 3. Step-by-step calculation

### Component A: Maximum supply specification
- **Purpose**: Define the theoretical maximum number of RUNE tokens that can exist
- **Logic**: The maximum supply is set as a constant value of 500,000,000 RUNE tokens, representing the absolute ceiling for token creation as defined in THORChain's tokenomics. This value is associated with the protocol launch date of July 27, 2019, when this specification became effective
- **Key fields**: The `token_supply_maximum` field contains the hardcoded value of 500,000,000 tokens

### Component B: Time series formatting
- **Purpose**: Structure the static maximum supply data into a time series format compatible with Token Terminal's analytics framework
- **Logic**: The finalize metric macro processes the static configuration to create a consistent daily time series. Using a fill-forward strategy, the maximum supply value is propagated across all days from the launch date forward, ensuring the metric is available for any historical or current date analysis
- **Key fields**: The `timestamp` field marks July 27, 2019 as the effective date, `timestamp_grain` specifies daily granularity, and the protocol identifier ensures proper data categorization

### Final aggregation
- **Combining components**: No aggregation is required since this is a single static value
- **Currency conversion**: Not applicable as this represents token count, not monetary value
- **Time aggregation**: The maximum supply value remains constant at 500,000,000 RUNE across all time periods from the launch date forward
- **Final calculation**: The final metric value is the unchanging maximum token supply of 500,000,000 RUNE tokens, representing the theoretical ceiling established in THORChain's protocol design

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Maximum number of tokens that can exist under the current token economics.

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Maximum token supply

Maximum token supply

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