Upgrading to Native RUNE

Summary

IOU Tokens (BNB.RUNE and ETH.RUNE) will be deprecated after mainnet. Nodes will activate a "killswitch", which will slowly reduce the redemption rate from 1.0 to 0.0 over the course of a year. After a year the upgrade code will be entirely removed and IOU tokens will no longer be supported. Upgrade your IOU tokens now.

How to Upgrade

If you hold your tokens on a centralised exchange, the exchange will switch your tokens for you to Native RUNE.

If you hold your tokens in a wallet:

1. Create a THORChain wallet using any of the options: https://thorchain.org/ecosystem/interfaces-links
2. Find the "UPGRADE" button and upgrade your asset (note: you will need gas on your wallet, eg BNB for BNB.RUNE or ETH for ETH.RUNE)

Several guides have been created:

• How to switch to Native RUNE using Ledger (2 ways) — THORNoob
• How to Switch Binance $RUNE to Native $RUNE (2 Ways: Arbitrage, Upgrade) — THORSwap
• How to: Upgrade to Native RUNE (THOR.RUNE) Using ThorSwap DEX — LP University.