THORChain protocol
Overview
THORChain is a layer-1 blockchain built with the Cosmos SDK that specialises in native cross-chain swaps, letting users trade native assets such as BTC and ETH between blockchains without wrapped tokens or a centralised custodian. Its native token RUNE acts as the settlement asset: every liquidity pool pairs an external asset against RUNE, so trades route through RUNE and connect otherwise separate networks including Bitcoin, Ethereum and BNB Chain. The protocol has a difficult security and solvency record. In July 2021 it suffered back-to-back hacks costing more than $13 million, after which developers fixed bugs and hardened the code, restoring four of the five supported networks by October 2021. In early 2025 its THORFi lending module became insolvent, forcing a full unwind of the product and pushing the protocol close to collapse with roughly $200 million of liabilities split between Savers and Lending positions; node operators approved Proposal 6 on 3 February 2025 with 67% support to resolve it. The DEX was later suspended for about a month after a roughly $10 million hack in late January before swaps and liquidity provision resumed. THORChain suffered back-to-back hacks in July 2021 costing over $13 million, restoring four of five networks by October 2021. Its THORFi lending product became insolvent in early 2025 with about $200 million of liabilities, unwound following node operators' approval of Proposal 6 on 3 February 2025. A roughly $10 million hack in late January led to a month-long halt before trading resumed.
Within the DeFi Intel graph, THORChain connects to 4 tracked entities, most strongly to RUNE, THORSwap, THORChain July 2021 Hacks.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 4 of 4 total).
| Relation | Connected entity | Confidence |
|---|---|---|
governs | RUNE | 90% |
integrates | THORSwap | 85% |
launched | THORChain July 2021 Hacks | 85% |
launched | THORChain Mainnet Launch | 85% |
Frequently asked questions
What is THORChain?
THORChain is a protocol tracked in the DeFi Intel knowledge graph. It is connected to 4 other tracked entities, most strongly to RUNE, THORSwap, THORChain July 2021 Hacks.
What type of entity is THORChain?
THORChain is classified as a protocol (protocol) in the DeFi Intel knowledge graph.
What is THORChain connected to?
In the DeFi Intel knowledge graph, THORChain is linked to 4 other tracked entities, most strongly to RUNE, THORSwap, THORChain July 2021 Hacks.
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