THORChain Removes RUNE Tokens from the Ethereum and BNB Network
THORChain refuses to use RUNE-linked tokens on the Ethereum and BNB network. The network is gradually reducing the redemption rate of these tokens 1:1.
THORChain, a cross-blockchain decentralized exchange, has begun the process of phasing out the use of RUNE tokens issued in Ethereum and BNB Chain. THORChain is a proprietary blockchain that allows users to exchange assets between seven blockchains.
A message on Monday from the THORChain team informed the community of its plans to phase out two RUNE-linked tokens called ETH.RUNE and BNB.RUNE. These are variants of the THORChain asset (RUNE) that can be released on the Ethereum and BNB networks.
Earlier this year, THORchain discovered that these tokens were vulnerable to exploits, prompting the team to abandon their use. The team decided to limit the use of RUNE tokens in its main network, which was launched in June.
In order to withdraw these tokens, THORChain activated the so-called emergency switch in block #6500000.
This is a network feature that will gradually reduce the ETH redemption rate over the next 12 months.RUNE and BNB.RUNE is 1:1 compared to RUNE's own tokens. After the shutdown, investors can still switch to RUNE, but with a decreasing repayment rate.
https://coin-signal.com/cryptonews/thorchain-removes-rune-tokens-from-the-ethereum-and-bnb-network/
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