THORChain
$0.4739
1.1%(24h)30d
Today
1.1%
30 Days
11.0%
Price Change (24h)
$0.005047
BTC$43,500+2.50%
ETH$2,650+1.80%
USDT$1.00+0.00%
BNB$320-0.50%
XRP$0.5200-1.20%
SOL$95.00+3.20%BTC$43,500+2.50%ETH$2,650+1.80%USDT$1.00+0.00%BNB$320-0.50%XRP$0.5200-1.20%SOL$95.00+3.20%Today
1.1%
30 Days
11.0%
Price Change (24h)
$0.005047
RUNE
4.74
THORChain is a pioneering decentralized exchange enabling native asset swaps across Bitcoin and other UTXO-based chains with Ethereum and EVM-compatible networks — all without requiring wrapped tokens. The network currently facilitates trading across 10 different blockchains. Available assets span Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, XRP, USDC, Tron (TRX), Dogecoin (DOGE), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Chainlink (LINK), Litecoin (LTC), Dai (DAI), Avalanche (AVAX), Aave (AAVE), Cosmos (ATOM), and Base (BASE).
THORChain eliminates the need for centralized exchanges when swapping tokens across multiple blockchains. Users accessing any self-custody wallet globally can swap between Bitcoin (BTC), Ethereum (ETH), BNB, XRPL (XRP), Tron (TRX), Dogecoin (DOGE), Bitcoin Cash (BCH), Litecoin (LTC), Avalanche (AVAX), and Cosmos (ATOM) without wallet-to-website connections. Permissionless and censorship-resistant swaps represent the platform's core value proposition. Network economics differ fundamentally: THORChain operates without block rewards. Instead, 100% of network revenue stems from real users paying actual fees. This fee structure includes 5% burning (making RUNE deflationary), contrasting typical blockchain rewards models. Token distribution concluded in 2023 — no additional unlocks are scheduled, meaning all circulating RUNE has been fully distributed.
THORChain emerged in 2018 when a development team participating in Binance's Dexathon (decentralized exchange competition) conceptualized the platform. The first whitepaper appeared in July 2018. Timeline of major milestones: RUNE token launched June 19, 2019, followed by an IDO on July 20, 2019. The first public testnet launched in June 2020, with Single Chain Chaos Net (SCCN) following in August 2020, supporting only BNB Beacon Chain tokens. April 2021 brought Multi Chain Chaos Net (MCCN) — a historic first allowing crypto users to swap across five distinct blockchains (Bitcoin, Ethereum, Binance Smart Chain, Bitcoin Cash, and Litecoin) from self-custody wallets without wrapped tokens. MCCN deployed as a guarded launch with liquidity pool caps to mitigate loss risks. As developers resolved issues, these restrictions were gradually lifted. After several months of stable operations, mainnet launched in June 2022. As of December 2025, THORChain has become the dominant Bitcoin DEX, accumulating billion in total trading volume.
Development work targets adding six additional blockchains: Solana (SOL), Toncoin (TON), Cardano (ADA), Sui (SUI), Zcash (ZEC), and Monero (XMR). THORChain is building an intents system enabling long-tail asset swaps across any blockchain ecosystem. Eventually, users will swap any token from self-custody wallets. The platform is evolving toward true layer 1 status. Developers can now build smart contracts on THORChain with direct access to native token liquidity, enabling collateralized lending, bitcoin-backed stablecoins, perpetual DEXs, prediction markets, token launch platforms, NFTs, and more. The Rujira team oversees smart contract development, with fees generated split 50/50 between THORChain and Rujira.
THORChain fees are exclusively paid in RUNE. Users need not hold RUNE tokens — fees deduct from inbound swap assets and convert to RUNE, then distribute as follows: 10% to TCY token holders, 5% burned, 5% to developer fund, 5% to marketing fund, and 75% split between liquidity and bond providers (nodes) per an incentive pendulum. Every THORChain liquidity pool pairs with RUNE (BTC/RUNE, ETH/RUNE, etc.), establishing RUNE's value and market cap floor as long as these pools exist. Liquidity providers earn a portion of exchange revenue. RUNE bonds nodes to the network via a 300,000 RUNE minimum requirement; average nodes hold 950,000 RUNE. Validators receive revenue shares in RUNE tokens distributed proportionally across all bond providers. Protocol governance is node-controlled, not individual RUNE holder-controlled, making RUNE fundamentally non-traditional as a governance token. Network transactions require gas fees, currently set at 0.02 RUNE per transaction.
RUNE achieves optimal liquidity on the THORChain AMM, making swap.thorchain.org the preferred buying and selling venue. RUNE trades widely on both centralized and decentralized platforms. Binance and Kraken lead among centralized exchanges. Decentralized exchange interfaces are documented in THORChain's ecosystem directory.
Exchange data unavailable.
BTC$77,112-1.38%ETH$2,417-2.42%BNB$696+2.14%
USDC$1.00-0.02%SOL$93.54+0.83%XRP$1.47+5.55%
DOGE$0.0927+4.98%
ADA$0.2270+2.11%
TRX$0.3449+0.91%
LINK$11.57-3.64%
AVAX$7.50-2.61%
XLM$0.1955+0.15%
SUI$0.8169-1.39%
ZEC$814+13.09%
HBAR$0.0771-1.24%
LTC$52.53+0.38%
DOT$0.9180+0.44%
BCH$275-4.28%
UNI$4.30+5.29%
NEAR$1.91-2.36%
ICP$2.33-6.80%
APT$0.6300-0.79%
ETC$7.88+1.16%
RENDER$1.45-3.71%
ATOM$1.58-0.06%
FIL$0.7600-5.32%
ARB$0.0977-0.61%
VET$0.005648-0.12%
MKR$1,814+0.76%
OP$0.1090+2.64%