• Incentives ensure bonded RUNE is always double pooled RUNE
  • Malicious nodes are slashed to protect pooled capital
  • The liquidity and security of the system is tightly coupled
  • A Threshold Signature Scheme with no trusted dealer protects assets
  • The system is always Byzantine fault tolerant


  • Liquidity is sharded into realms to reduce signing committee sizes
  • Liquidity is delegated into smaller vaults for faster signing
  • Base infrastructure is Tendermint (100+ Nodes possible)
  • Chains and Assets added via economic weight
  • High performance CosmosSDK replicated state machine


  • THORChain observes transactions on external networks
  • State is highly-validated: incorrect transactions are ignored or refunded
  • Logic is applied to state changes, generating outgoing transactions
  • Transactions are signed via a chain agnostic TSS protocol
  • Outgoing transactions are broadcast back to the external network