THORChain is a Layer 1 that enables cross-chain swaps of native assets through liquidity pools, without wrapping the tokens being traded. Its native token is RUNE.
THORChain launched in 2021 as a Layer 1 built with the Cosmos SDK and Tendermint consensus. Its purpose is cross-chain swapping: it lets users trade native assets across different blockchains, for example native Bitcoin for native Ethereum, without using wrapped or pegged tokens.
Total value locked (DeFi)
$25.3M
Value locked in DeFi protocols on THORChain. Updated Jun 8, 2026. Source: DefiLlama.
THORChain validators, called nodes, bond RUNE and take part in Tendermint Byzantine Fault Tolerant consensus. Nodes also run full nodes for the external chains THORChain connects to, so the network can observe and sign transactions on those chains. Liquidity providers deposit assets into pools that are always paired with RUNE, which acts as the settlement asset for every swap.
Consensus: Proof of Stake with Tendermint BFT
THORChain validators, called nodes, bond RUNE and take part in Tendermint Byzantine Fault Tolerant consensus. Nodes also run full nodes for the external chains THORChain connects to, so the network can observe and sign transactions on those chains. Liquidity providers deposit assets into pools that are always paired with RUNE, which acts as the settlement asset for every swap.
Native asset swaps
THORChain swaps real native assets across chains rather than wrapped versions. A user can trade native Bitcoin for native Ethereum without holding a pegged token in between.
RUNE-paired pools
Every liquidity pool pairs an asset with RUNE. Because RUNE sits on one side of every pool, it acts as the common settlement asset that connects all the different chains.
Bonded nodes
Validators bond RUNE as economic security and run nodes for each connected chain so the network can observe deposits and sign withdrawals.
Continuous liquidity pools
Swaps execute against pooled liquidity using an algorithmic pricing model, so there is no order book or counterparty needed for a trade.
Ecosystem & usage
What THORChain is used for.
THORChain is used mainly as cross-chain swap infrastructure. Wallets and aggregators route trades through it so users can move between assets on different chains while keeping custody of their funds.
THORChain is a Layer 1 that lets users swap native assets across different blockchains, such as native Bitcoin for native Ethereum, using liquidity pools rather than a centralized exchange.
Does THORChain use wrapped tokens?
No. THORChain swaps the real native assets on each chain. It does not require users to hold wrapped or pegged versions of the tokens being traded.
Why is RUNE central to THORChain?
Every liquidity pool pairs an asset with RUNE, so RUNE is the common settlement asset for all swaps. RUNE is also bonded by node operators as economic security for the network.
What is RUNE used for?
RUNE is the native token. It backs every liquidity pool as the paired asset, is bonded by validators for security, and is used to pay network fees.
Can I hold RUNE in Zypto App?
Not yet. RUNE isn't in Zypto App at the moment. You can hold it in any self-custodial wallet, and you can ask us to add THORChain using the "Request THORChain" button above.
