THORChain

THORChain is a cross-chain liquidity protocol that enables native assets on different blockchains to be swapped directly without using wrapped tokens or a centralized bridge. For example, a user sends BTC on the Bitcoin network and receives ETH on the Ethereum network in their own wallet in return. This is made possible by vaults jointly controlled by the nodes of the THORChain chain, which is built with the Cosmos SDK, and by threshold signature technology. DefiLlama lists chains such as Bitcoin, Ethereum, BNB Chain, Dogecoin, Litecoin and Solana among the supported networks.

RUNE is the native token of THORChain and sits at the centre of the system. In every liquidity pool, one side is RUNE and the other is an external asset; swaps are therefore routed through RUNE. Node operators post a RUNE bond to join the network, and this bond can be slashed in case of misbehaviour. Network fees are also paid in RUNE. In early 2025, the protocol suspended its lending and savings products called ThorFi.

On Lzzo.com, the THORChain price is shown by converting the Binance RUNE/USDT pair into US dollars using the Coinbase USDT/USD rate; this data is for information only.