Thorchain DEX
Track Your DeFi Wallet
Import your wallet to see all positions across 50+ chains
Protocol TVL
Fees & Revenue
Chain Fees Distribution
Revenue Breakdown
About Thorchain DEX
THORChain facilitates cross-chain liquidity pools with no pegged or wrapped tokens.
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
Thorchain DEX tokenomics and on-chain capital
Thorchain DEX's governance or utility token carries a market capitalisation of $154.9M based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token ($154.9M) above the protocol's on-chain TVL ($70.5M) — a mcap/TVL multiple of 2.20× implies investors are paying for expected future fee flows rather than current deposits alone.
Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.
Security & Audits
Thorchain DEX Timeline
Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.
- Sep 16, 2021Protocol resumed
Protocol Profile
Thorchain DEX is a DEX — a decentralised exchange where users swap assets against on-chain liquidity pools rather than a central order book. It is deployed across 12 chains, including Thorchain, Bitcoin, Ethereum, Bitcoincash and 8 other chains. The codebase has been independently audited (1 report on file). DeFiLlama tracks 1 historical event for this protocol since 2021.
TVL Distribution by Chain
TVL spans 12 chains across the deployment. See the breakdown below for per-chain values.
…and 2 other chains with smaller deployments.
Supported Chains
Protocol Footprint
Thorchain DEX runs a multi-chain deployment, with smart contracts live on 12 networks. Roughly 92% of its on-chain value sits on just three networks (Thorchain, Bitcoin, Ethereum), so a fault on any one of them would affect a large slice of users. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts. Its token market cap ($154.9M) currently exceeds total value locked ($70.5M) — a mcap/TVL ratio of 2.20 suggests the market is pricing in more growth than current deposits support.
Official Resources & Links
Verified external resources for Thorchain DEX — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other DEX protocols on Mantapex
Thorchain DEX is one of 7 DEX protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Curve DEX, Uniswap V3, PancakeSwap AMM, and 3 more. These peer protocols collectively secure $8B in deposits, giving you a frame of reference for whether Thorchain DEX's own TVL is at the top, middle, or tail of the category.
Available Yields
| Project | Pool | APY | TVL |
|---|---|---|---|
| thorchain-dex | BTC-RUNE | 0.00% | $28.9M |
| thorchain-dex | ETH-RUNE | 0.00% | $11.5M |
| thorchain-dex | USDC-RUNE | 0.00% | $5.9M |
| thorchain-dex | USDT-RUNE | 0.00% | $5M |
| thorchain-dex | BCH-RUNE | 0.00% | $3.1M |
| thorchain-dex | WBTC-RUNE | 0.00% | $2.9M |
| thorchain-dex | DOGE-RUNE | 0.00% | $2.1M |
| thorchain-dex | LTC-RUNE | 0.00% | $1.7M |
| thorchain-dex | AVAX-RUNE | 0.00% | $1.4M |
| thorchain-dex | XRP-RUNE | 0.00% | $947.5K |
Recent Thorchain DEX news
Latest reporting from major crypto news outlets covering Thorchain DEX.
- Coinspeaker
THORChain DEX Volume Soars amid Bybit Hack: RUNE Jumps 22%
THORChain (RUNE) decentralized exchange (DEX) volume has shot up a massive 300% in the past seven days alone.
- AMBCrypto
Bitcoin calls, THORChain answers: What does RUNE do?
On the THORChain DEX, the ETH/RUNE and USDT/RUNE pairs had far less volume than the BTC/RUNE pair. The post Bitcoin calls, THORChain answers: What does RUNE do?
- Cryptopolitan
Exploiter behind Balancer breach swaps Ethereum holdings for Bitcoin
Funds from the Balancer hack are active again after five months of dormancy. The hackers deposited 1,100 ETH and used ThorChain DEX to swap the funds into BTC.
- Bitcoin
Thorchain Rises to Third in Decentralized Exchange Rankings, Hits $1.8B Weekly Trade Volume
In the past week, trading activity on the decentralized exchange (dex) Thorchain has experienced a significant surge, reaching $1.854 billion in trade volume. Data shows that…
- BeInCrypto
Lazarus Finishes Laundering Stolen Bybit Funds Using THORChain
The Lazarus Group has already laundered all the unfrozen funds it stole from the recent Bybit hack. The group used THORChain's DEX to convert ETH tokens, sparking community…
- Dailycoin
THORChain Flips PancakeSwap as #2 DEX with 50% Gains
THORChain trading volume surges as more users recognize its unique value proposition.
- Coinspeaker
THORChain Now 3rd Largest DEX as Trading Volume Hits $1.32B
Erik Voorhees, a prominent Bitcoin advocate, highlighted THORChain's significance by noting that it processed almost 2%, equivalent to $224 million, of the overall spot Bitcoin…
- Crypto news
THORChain becomes second-largest DEX in daily trading volume
THORChain has become the second-largest decentralized exchange (DEX) while its native token, RUNE, registered a slight decline over the past day. According to data provided by…
Related protocols
Other DeFi protocols connected to Thorchain DEX by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other Dexs protocols
Top protocols on Thorchain
Fork lineage & related versions
Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
Your Crypto Portfolio — Free Forever
Paste any wallet to see tokens, DeFi & NFTs across 50+ chains. Add exchanges, Polymarket & Kalshi anytime — all in one portfolio.