THORSwap
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Protocol TVL
Fees & Revenue
Chain Fees Distribution
Revenue Breakdown
About THORSwap
Established in 2021, THORSwap is the leading multi-chain Bitcoin decentralized exchange (DEX) aggregator. Swap cross-chain to and from Native Bitcoin in a non-KYC and non-custodial manner.
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
How THORSwap's TVL is measured
DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.
TVL is the total amount of THOR tokens staked in VTHOR, UTHOR, and YTHOR staking contracts
If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.
THORSwap tokenomics and on-chain capital
THORSwap's governance or utility token carries a market capitalisation of $10.3M based on circulating supply at the latest DeFiLlama snapshot. A further $11.8M sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.
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
THORSwap Timeline
Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.
- Nov 3, 2025Listed on DeFiLlama
Protocol Profile
THORSwap is a DEX Aggregator — a decentralised exchange where users swap assets against on-chain liquidity pools rather than a central order book. It is deployed on Ethereum. The codebase has been independently audited (1 report on file).
TVL Distribution by Chain
TVL spans 2 chains across the deployment. See the breakdown below for per-chain values.
Supported Chains
Protocol Footprint
THORSwap is a single-chain protocol, deployed exclusively on Ethereum — this concentrates execution risk but simplifies the trust model. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.
Official Resources & Links
Verified external resources for THORSwap — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other DEX Aggregator protocols on Mantapex
THORSwap is one of 7 DEX Aggregator protocols Mantapex tracks in this category. Direct peers ranked by total value locked include 1inch, Pumex, Hashflow, and 3 more. These peer protocols collectively secure $6.2M in deposits, giving you a frame of reference for whether THORSwap's own TVL is at the top, middle, or tail of the category.
Recent THORSwap news
Latest reporting from major crypto news outlets covering THORSwap.
- Crypto Economy
THORSwap Issues Bounty Following $1.2M Wallet Exploit
TL;DR THORSwap has launched a bounty to recover over $1.2 million stolen from a personal wallet, likely belonging to THORChain founder John-Paul Thorbjornsen. The exploit involved…
- The Block
THORSwap issues bounty offer tied to more than $1M exploit of THORChain founder's wallet: onchain analysts
Onchain sleuth ZachXBT said the victim is likely THORChain founder John-Paul Thorbjornsen, who had $1.35 million stolen this week.
- Invezz
THORSwap token price drops amid illicit fund movement concerns
THORSwap, a decentralized exchange (DEX) running on the THORChain network, has faced a steep decline in the price of its native token, THOR, following an incident involving…
- Bitcoin
Thorswap Resumes Service With 12 Countries Blacklisted and New Partnership to Curb Illegal Transfers
On October 6, 2023, Thorswap halted its services temporarily. However, the platform recently declared its return to full operation with some notable modifications.
- Blockchain News
THORSwap Resumes Operations with Enhanced Security Measures to Combat Illicit Funds Transfer
THORSwap, a decentralized exchange (DEX) leveraging the THORChain protocol, resumed operations on October 13, following a temporary shutdown to address concerns of illicit funds…
- Coindesk
THORSwap, Used by FTX Exploiter, Resumes Trading After Updating Terms to Exclude U.S.-Sanctioned Countries
THORSwap, the exchange that paused its platform last Friday following a series of trades related to the FTX hack, resumed its services on Friday with updated terms and conditions…
- Cryptopolitan
THORSwap tightens security protocols and resumes operations After FTX hack incident
THORSwap, a decentralized exchange running on the THORChain network, has reopened its interface to the public. The reopening comes after a temporary pause initiated on October 6…
- Cointelegraph
THORswap back online 6 days after halt over detecting FTX funds
According to blockchain analytics firm Elliptic, the anonymous FTX exploiter has used THORSwap to convert ETH to BTC, which is traceable on-chain.
Related protocols
Other DeFi protocols connected to THORSwap by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other DEX Aggregator protocols
Top protocols on Ethereum
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.
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