Thorchain

THORChain is an independent, decentralized liquidity protocol designed to enable native asset swaps across multiple blockchains without relying on wrapped or pegged tokens. Built on the Cosmos SDK and utilizing the CometBFT consensus engine, THORChain operates as a Layer 1 decentralized exchange (DEX) that supports cross-chain swaps between Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos Hub, Dogecoin, Bitcoin Cash, Litecoin, Base, Ripple, TRON, and others. Its core innovation is the use of continuous liquidity pools (CLPs) that manage native assets directly on-chain, secured by an economic security model backed by the native RUNE token. This design eliminates the need for intermediaries, wrapped assets, or custodial risk, allowing users to maintain full control of their funds throughout the swap process.

The protocol is secured by a network of anonymous validators called THORNodes, who bond RUNE tokens as collateral to provide validation services. THORChain employs a high validator churn schedule every three days to maintain decentralization and resist censorship or capture. Its architecture supports asynchronous network upgrades and a chain-agnostic Bifrost protocol that enables seamless integration with UTXO, EVM, BFT, and Cryptonote chains. THORChain also incorporates advanced features like slip-based fees to mitigate price attacks, a swap queue to prevent Miner Extractable Value (MEV) exploits, and streaming rewards to incentivize liquidity providers and validators.

Developers can build wallets, exchanges, and DeFi applications on top of THORChain’s infrastructure using its open-source codebase and comprehensive developer documentation. The protocol is widely integrated by major wallets and exchanges as a non-custodial cross-chain swap provider. THORChain’s roadmap includes upcoming features such as EdDSA support, XRP and Solana integrations, 2-second block times, direct IBC deposits, and limit orders. To get started, developers can access detailed technical guides, join the active community Discord, and explore the protocol’s APIs and SDKs available in the documentation.