ThorChain

THORChain is a settlement layer that facilitates swaps between Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos Hub, Dogecoin, Bitcoin Cash, Litecoin

THORChain is secured by its native token, RUNE, which deterministically accrues value as more assets are deposited into the network.

Anyone can use THORChain to swap native assets between any supported chains or deposit their assets to earn yield from swaps.

Innovations

There a numerous innovations in the THORChain Protocol that were built with first principles to be decentralised, resistant to capture and sustainable as possible:

Capped Proof Of Bond validator selection keeps the network decentralised and Nakamoto Coefficient high.
3-Day Validator Churning stops validator stagnation, proves spendability of funds and upgrades the network with minimal governance.
Asynchronous Network Upgrades allows validators to upgrade to a new protocol version in their own time, with the network upgrading without ever breaking consensus.
Chain-agnostic Bifrost Protocol handles UTXO, EVM, BFT and Cryptonote chain connections with minimal core-logic nuances.
Incentive Pendulum streams rewards to Validators and Liquidity Providers to target a Network Security ratio that always keeps funds secured.
Continuous Liquidity Pools that allows single-sided liquidity provision and uses liquidity-sensitive fees to resist price attacks.
Swap Queue that orders swaps based on price impact in each block, which stops sandwich attacks and most other forms of Miner Extractable Value (MEV).
Liquidity Synths to enable fast low-fee swaps across L1 pools and power single-sided Savers. Synths are a hybrid collaterised-pegged asset design that contribute to liquidity.
Derived Asset Collateral to enable L1 lending, using the RUNE asset to underwrite the liability. This enables no interest, no liquidation, no expiry loans.