Thorchain
THORChain is a decentralized, non-custodial cross-chain liquidity protocol enabling native asset swaps without wrapped tokens or intermediaries.
Overview
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.
The Problem
Cross-chain asset swaps typically require wrapped tokens, custodial intermediaries, or bridges that introduce counterparty risk, centralization, and security vulnerabilities. Users face fragmented liquidity and lack of native asset interoperability across blockchains.
The Solution
Key Features
Continuous Liquidity Pools (CLPs)
Advanced liquidity pools that allow single-sided liquidity provision and use slip-based fees to resist price manipulation.
Chain-Agnostic Bifrost Protocol
Supports seamless integration with diverse blockchain types including UTXO, EVM, BFT, and Cryptonote chains.
Swap Queue to Mitigate MEV
Orders swaps by price impact within blocks to prevent sandwich attacks and other Miner Extractable Value exploits.
Key Strengths
How Developers Use Thorchain
Non-Custodial Cross-Chain Swaps
Users swap native assets like Bitcoin for Ethereum directly, maintaining custody without intermediaries or wrapped tokens.
Liquidity Provision for Yield
Liquidity providers deposit assets into CLPs to earn fees from swap activity, incentivized by streaming rewards.
Building Cross-Chain DeFi Applications
Developers integrate THORChain’s APIs and infrastructure to create wallets, exchanges, and DeFi products with native cross-chain liquidity.
Works Well WithBitcoinEthereumAvalancheCosmos
DogecoinBitcoin
Litecoin
Base
TRON
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Pricing
Free | |
|---|---|
| Price (Monthly) | Free |
| Price (Annual) | Free |
| Messaging | N/A |
| Support | Community support via Discord and GitLab |
| Analytics |
Resources
THORChain provides extensive resources including detailed developer documentation, community Discord channels, GitLab repositories for protocol development, and educational blog posts. These resources support developers and users in understanding, integrating, and contributing to the protocol.