{"data":{"id":4157,"name":"THORChain","symbol":"RUNE","slug":"thorchain","category":"coin","description":"## What Is THORChain (RUNE)?\n \nTHORChain is the first cross-chain decentralized exchange (DEX) to swap Bitcoin, without using bridges or wrapped assets.\n\nTHORChain currently supports swapping between 13 different blockchains.  They are:\n\nBitcoin\nEthereum\nXRP Ledger\nBNB Smart Chain\nSolana\nTRON\nDogecoin\nBitcoin Cash\nLitecoin\nAvalanche\nCosmos\nBase\nTHORChain\n\n\n## What Makes THORChain (RUNE) Unique?\n\nSwapping on THORChain is permissionless and censorship resistant. No KYC is required.\n\nTHORChain makes it possible for people to stop using centralized exchanges (CEXs) for swapping tokens cross-chain.\n\nPeople can use any self-custody wallet in the world to swap, without having to connect the wallet to a website. Users don't need to own RUNE or have a THORChain wallet in order to swap on THORChain.\n\nThere are no block rewards on THORChain.  100% of the revenue on the network is real money paid by real users.\n\nThere are no more token unlocks.  The circulating supply has been distributed since 2023.\n\n\n## When did THORChain (RUNE) launch?\n\nTHORChain was conceptualized in 2018 by a team participating in a Binance Dexathon (decentralized exchange coding competition).  The first whitepaper was published in July 2018.   \n\nThe RUNE token was launched on June 19, 2019.  THORChain conducted an IDO on July 20, 2019.\n\nIn June 2020, the first public test net was launched.  In August 2020, Single Chain Chaos Net (SCCN) was launched.  SCCN only had BNB Beacon Chain tokens available to swap.\n\nIn April 2021, Multi Chain Chaos Net (MCCN) launched.  This marked the first time in history crypto users could swap between 5 different blockchains on a DEX, from self-custody wallets, and without using wrapped tokens.  Bitcoin (BTC), Ethereum (ETH), Binance Smart Chain (BNB), Bitcoin Cash (BCH), and Litecoin (LTC) were the first 5 tokens available to swap.\n\nMCCN was rolled out as a guarded launch, where a cap was placed on the size of liquidity pools to reduce the potential loss of funds.  As bugs and problems with the code were ironed out, the self-imposed limitations on the network were slowly lifted.\n\nAfter several months of stable performance, the development team announce mainnet in June 2022.\n\nSince then, THORChain has become the largest DEX for swapping bitcoin with $118 billion in total volume as of December 2025.\n\n \n## What's Next for THORChain (RUNE)?\n \nWork is being done to add the following blockchains to THORChain:\n\nZcash (ZEC)\nMonero (XMR)\nBittensor (TAO)\nDash (DASH)\n\nTHORChain is developing its version of intents, which will enable the swapping of long tail assets on every blockchain.  Eventually people will be able to swap any token from any self-custody crypto wallet.\n\nTHORChain is evolving into a true layer 1 protocol.  Now, developers can create smart contracts on THORChain, and those contracts have direct access to native token liquidity.  Smart contracts make it possible to have collateralized lending, bitcoin backed stablecoin, perp DEX, prediction market, token launch platform, NFTs, and more.\n\nThe Rujira team is responsible for building smart contracts on THORChain.  The fees generated from smart contracts are split 50/50 between THORChain and Rujira. \n\n\n## What Can the THORChain (RUNE) Token be Used For?\n\nAll the fees on THORChain are paid in RUNE tokens.  The user doesn’t have to own any RUNE tokens, or have a RUNE wallet, to swap on THORChain.  The fees are deducted from the inbound token of the swap and used to buy RUNE.  These fees (RUNE tokens) are then distributed as per below.\n\n1% are burned\n5% to the developer fund\n5% to the marketing fund\n10% to TCY token holders\n20% to Protocol Owned Liquidity\n59% is split between the liquidity providers and bond providers (nodes) according to an incentive pendulum\n\nEvery liquidity pool on THORChain is paired with RUNE.  The bitcoin pool is BTC/RUNE, the ethereum pool is ETH/RUNE, and so on.  As long as there’s bitcoin, ethereum, and other liquidity pools on THORChain, RUNE has value and a floor in its market cap.  Liquidity providers collect some of the revenue from the exchange.\n\nThe RUNE token is used to bond nodes to the network.  A minimum bond of 300,000 RUNE is required for a node to enter.   The average node has 950,000 RUNE bonded to it.\n\nNodes receive a portion of the revenue in return for securing the network.  This revenue is distributed in RUNE tokens to all the bond providers of the nodes on a pro rata basis.\n\nGovernance of the protocol is voted on by the nodes.  Not individual RUNE holders.  Therefore, RUNE is not a traditional governance token.\n\nThe RUNE token is used to pay gas fees for any transaction occurring on the network.  The fee is currently set at 0.02 RUNE per transaction.\n\n\n## Where Can You Buy THORChain (RUNE)?\n\nRUNE is most liquid on the THORChain AMM therefore the best place to buy or sell RUNE is at [swap.thorchain.org](https://swap.thorchain.org)\n\nRUNE is a popular cryptocurrency that is available to purchase and trade on a large number of both centralized and decentralized exchange platforms. The most prominent of the centralized exchanges are [Binance](https://coinmarketcap.com/exchanges/binance/) and [Kraken](https://coinmarketcap.com/exchanges/kraken/). For decentralized platforms, a list of THORChain interfaces can be found [here](https://docs.thorchain.org/ecosystem#exchanges-only). \n","dateAdded":"2019-07-23T00:00:00.000Z","actualTimeStart":"2019-07-23T20:40:00.000Z","status":"active","isBn":1,"subStatus":"normal","notice":"","alertLink":"","latestUpdateTime":"2026-09-22T10:32:00.000Z","watchCount":"329586","watchListRanking":141,"dateLaunched":"2018-04-30T00:00:00.000Z","latestAdded":false,"launchPrice":0.032,"tags":[{"slug":"cosmos-ecosystem","name":"Cosmos Ecosystem","category":"PLATFORM","status":1,"priority":3},{"slug":"decentralized-exchange-dex-token","name":"Decentralized Exchange (DEX) Token","category":"CATEGORY","status":1,"priority":3},{"slug":"defi","name":"DeFi","category":"CATEGORY","status":1,"priority":3},{"slug":"dex","name":"DEX","category":"CATEGORY","status":1,"priority":5},{"slug":"multicoin-capital-portfolio","name":"Multicoin Capital 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