About THORChain
THORChain is a decentralized cross-chain liquidity protocol that lets users swap native cryptocurrencies like BTC and ETH directly across different blockchains without wrapped tokens or centralized intermediaries. An anonymous team of developers started the project around 2018 to 2019, and the main network went live in early 2021. The protocol uses continuous liquidity pools where every supported asset is paired with RUNE, which acts as the universal settlement asset. Validators must bond RUNE to participate in consensus and secure the network. The consensus mechanism is a Tendermint-based proof-of-stake model with economically incentivized validator nodes. RUNE is the native token. It is the settlement asset in all liquidity pools, pays network fees, bonds validator security, and provides incentives for validators and liquidity providers. All swaps and liquidity activity on the protocol are economically centered on RUNE. The token launched with a maximum supply of one billion, which was later reduced to around 354 million through a burn mechanism. This gives RUNE a deflationary and effectively capped supply, with circulating supply reported at roughly 330 to 350 million tokens.
THORChain halts ZEC swaps after bug triggers RUNE bond deductions
The incident underscores the inherent risks for node operators in decentralized networks, highlighting the importance of robust security measures.
THORChain targets Rujira restart with v3.21 exploit fix around October 23
The restart of Rujira with the exploit fix could stabilize THORChain's ecosystem, enhancing user confidence and expanding trading options.
THORChain fees rebound but remain far below September surge
THORChain's reliance on exploit-driven surges highlights the need for sustainable growth strategies to maintain liquidity and fee stability.
Tether froze 1.45 million USDT in THORChain vaults, then reversed course three hours later
The incident highlights the vulnerability of DeFi protocols to centralized issuer actions, emphasizing the need for diversified asset management.
Tether freezes four THORChain vaults, halting Tron swaps
The incident highlights the vulnerability of decentralized protocols to centralized control, impacting liquidity and trust in DeFi systems.
THORChain co-founder says acting against Bitget hacker was possible but difficult
THORChain co-founder Chad Barraford said validators could act against Bitget hacker funds, but reaching consensus fast enough to stop them would be difficult.
A sourced map of THORChain's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on THORChain and the wider market, hosted by our team, will appear here once episodes are live.