RUNE Is Fully Unlocked, and Its Supply Has Only Shrunk. Here's How

Most tokens dread their unlock date but RUNE's final unlock arrived in 2023, and since then its supply has only ever gone down. I find that combination rare, a token with nothing left to unlock, a smaller supply than it launched with, and a revenue stream that pays the people securing the network. Ultimately, the story of how THORChain got there is also a story about a quiet change of strategy, and the one number that highlights this shift is the burn rate, which fell from 5% to 1%.