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    On February 4, 2022, THORchain published a post that laid out plans to upgrade all Initial Uniswap Offering (IUO) tokens, namely BNB.RUNE and ETH.RUNE.

    These tokens were offered to the public to acquire at will such that the initial network validators will not have to be handpicked by THORChain themselves making the chain sort of centralized. ETH.RUNE and BNB.RUNE holders can update their tokens to THOR.RUNE via THORSwap.

    This dashboard will analyze activities surrounding IOU token upgrades in the past 30 days pending the "kill switch" upgrade which will render them worthless.

    First, let's take a look at the amount of $RUNE upgrades in the chart below.

    Since late May 2022, there has been a steady rise in upgrades through to mid-June which saw a peak of 54.5m $RUNE on June 14, 2022. Numbers have been lower since but haven't been as low as late May.

    Next, let's break these numbers into BNB.RUNE and ETH.RUNE respectively.

    The chart shows that, BNB.RUNE upgrades are generally higher than ETH.RUNE upgrades in amount.

    Now, let's look at the number of unique wallets that are making the upgrades.

    Since late May 2022, there have been more BNB.RUNE wallets making upgrades. However, the tables turned on June 24 when 74 wallets upgraded ETH.RUNE compared to 35 wallets upgrading BNB.RUNE.

    In total, as of June 28, 2022, 491 unique wallets have upgraded ETH.RUNE so far, compared to 876 users to have upgraded BNB.RUNE.

    Comparing RUNE amounts, BNB.RUNE has 64.2m worth of RUNE redemptions (98.1%) as compared to ETH.RUNE with only 1.2m

    As it stands, BNB.RUNE is being upgraded more in terms of unique wallets and amounts.