THORChain (RUNE) is the native cryptocurrency of THORChain, a decentralized cross-chain liquidity protocol launched in July 2019. Built with the Cosmos SDK, THORChain enables non-custodial token swaps across nine blockchains, including Bitcoin, Ethereum, and Binance Chain, without wrapping or pegging assets. Using its Continuous Liquidity Pool (CLP) and Bifrost Protocol, THORChain facilitates native asset settlement, mitigates impermanent loss with slip-based fees, and supports DeFi for wallets like Trust Wallet and Ledger Live.

Key Features

  • Cross-Chain Swaps: Enables permissionless, non-custodial swaps across nine blockchains with deterministic ordering to prevent MEV and front-running.
  • Continuous Liquidity Pool (CLP): Maintains trustless liquidity with a 1:1 pool stake ratio, incentivizing providers with RUNE-based rewards.
  • Proof-of-Stake (PoS): Uses a 2:1 bond-to-stake ratio for node operators, securing vaults with threshold signatures.
  • Bifrost Protocol: Facilitates multichain connectivity, moving assets securely without pooling into single contracts.

RUNE Token

  • Purpose: Serves as a settlement asset, network security bond, and liquidity provider reward; not a governance token, as nodes determine protocol direction.
  • Supply: ~350M RUNE in circulation, with a maximum supply of 500M.
  • Contract Address: Native to THORChain blockchain; compatible with wallets like XDEFI or THORWallet for swaps and staking CoinGecko CMC.

Who Are the Founders of THORChain?

THORChain has no formal CEO, founder, or directors, operating as a fully decentralized protocol. Development is coordinated via GitLab, with node operators deciding the codebase. Funded through an initial DEX offering (IDO) on Binance DEX in July 2019, THORChain is backed by investors like Multicoin Capital and Delphi Ventures.

What Makes THORChain Unique?

  • Native Asset Swaps: Moves assets across chains without wrapping, unlike most bridges, reducing risk from forged proofs or compromised validators.
  • MEV Resistance: Uses slip-based fees and deterministic swap ordering to eliminate front-running and sandwich attacks.
  • High Volume: Recorded $1.05B in single-day volume in Q1 2025, showcasing robust usage during market volatility.
  • Decentralized Security: Employs threshold signatures for vaults, avoiding single-contract vulnerabilities.

THORChain Network Upgrades (2025)

  • V3.20 Update (February 2025): Enhanced swap efficiency and reduced fees.
  • Blockchain Integrations (April 2025): Added Avalanche EVM and Polkadot support, expanding to 11 blockchains.
  • Streaming Swaps Optimization (June 2025): Improved large swaps by breaking them into smaller transactions, cutting fees by ~30%.

How Is THORChain Secured?

  • PoS with 2:1 Bonding: Node operators bond RUNE at twice the staked value, ensuring economic security.
  • Threshold Signatures: Secures vaults without assembling full keys, reducing attack vectors.
  • Bifrost Protocol: Tracks RUNE-to-asset ratios in CLPs, ensuring transparent liquidity.

Conclusion

THORChain (RUNE) is a decentralized cross-chain liquidity protocol enabling native asset swaps with unparalleled security and efficiency. 2025 upgrades like V3.20 and new blockchain integrations cement its role as a leading DeFi infrastructure provider.