Coingecko Rune is a cryptocurrency token designed for the Coingecko platform. Coingecko is a popular cryptocurrency data platform that provides users with real-time information and analytics about various digital assets. The platform tracks thousands of cryptocurrencies and provides market data, price charts, and market capitalization information. The Coingecko Rune token is an ERC-20 token built on the Ethereum blockchain. It serves as the native token for the Coingecko platform and can be used for various purposes within the ecosystem. One of the main use cases for the Coingecko Rune token is to access premium features and services on the Coingecko platform.
RUNE Plummets 9% as Thorswap Freezes Operations Amid 'Potential Illicit Activity'
One of the main use cases for the Coingecko Rune token is to access premium features and services on the Coingecko platform. Users can earn Coingecko Rune tokens by participating in various activities and promotions on the platform. These tokens can then be used to unlock additional features, such as advanced portfolio tracking, personalized alerts, and in-depth market analysis.
Thorswap has halted activity after it was revealed that illicit funds may have been funneled through the decentralized exchange.
Oct 6, 2023 Oct 6, 2023
Thorchain is a DeFi protocol that connects different blockchains like Bitcoin and Ethereum. Image: Shutterstock
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Thorswap, a decentralized exchange (DEX) that supports multiple blockchains atop the Thorchain network, announced that it had paused activity.
The exchange has moved to “maintenance mode” after detecting a series of illicitly-linked funds had been funneled through the platform.
The native token powering the Thorchain network RUNE has since plummeted by 9%, per CoinGecko data. The token is now trading hands at $1.88.
Thorswap will remain paused until it is able to implement “a more durable and comprehensive solution” to improve security.
“A pressing and persistent concern has recently come to light: the potential movement of illicit funds through THORChain and, specifically, THORSwap,” the exchange wrote. “Such activities have no place on the THORSwap platform, and THORSwap stands firmly against any and all criminal actions.”
In a subsequent update, Thorswap clarified that functions such as "LP actions, Earn (for savers), Borrow (lending), and Staking actions" continue to be fully accessible.
At present, there's no specific timeline as to when the platform will return to full operations.
“THORSwap stands firmly against any and all criminal activity—especially on the THORSwap platform,” a representative of the Thor community reached via Discord told Decrypt.
The more Coingecko Rune tokens a user holds, the more benefits they can enjoy on the platform. The Coingecko Rune token also has a governance aspect, allowing token holders to participate in the decision-making process for the platform. Token holders can vote on proposals and have a say in the development and future direction of Coingecko. Overall, the Coingecko Rune token incentivizes users to engage with the Coingecko platform and provides additional benefits for token holders. It enhances the user experience and allows users to access exclusive features and services, while also giving them a voice in the platform's governance..
Reviews for "The Role of Coingecko Rune in the Decentralized Finance (DeFi) Ecosystem"
- John - 2 stars - I found Coingecko rune to be quite confusing and difficult to navigate. The layout and user interface were not intuitive at all, making it hard to find the information I was looking for. Additionally, the data and charts seemed to be unreliable and outdated. Overall, I was disappointed with my experience using Coingecko rune.
- Sarah - 3 stars - Coingecko rune is decent, but there are definitely better cryptocurrency tracking platforms out there. The interface is not very user-friendly and it lacks some important features that other platforms offer. The navigation is clunky and it took me a while to figure out how to do simple tasks. I think Coingecko rune has potential, but it needs significant improvements to compete with its competitors.
- Michael - 2 stars - I was not impressed with Coingecko rune's customer support. When I encountered an issue with my account, it took them days to respond to my inquiry. Their response was also not helpful and didn't address my specific problem. This lack of responsiveness and poor communication was frustrating, and I ended up switching to a different platform because of it.
- Emily - 2 stars - Coingecko rune is not very user-friendly, especially for beginners. The platform is overloaded with information and it can be overwhelming to navigate through. I also had some issues with the mobile app, as it was slow and had frequent crashes. I would recommend looking for a more streamlined and user-friendly cryptocurrency platform.