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THORChain DEX(RUNE)

Total Value Locked$66.14m

TVL by Chain

THORChain$33.69m

Bitcoin$15.27m

Ethereum$9.98m

BSC$1.82m

Bitcoincash$1.4m

Avalanche$970,774

Doge$921,126

XRPL$773,591

Litecoin$619,360

Tron$387,927

CosmosHub$140,528

Base$98,970

Solana$57,545

Key Metrics

Fees 30d$3.38m

Fees 30d by chain

Bitcoin$911,270

Ethereum$878,411

XRPL$759,399

THORChain$460,907

Tron$125,694

Litecoin$67,160

Bitcoincash$58,594

BSC$57,398

Base$22,825

Avalanche$17,513

Doge$13,313

CosmosHub$6,211

Solana$0

Fees 7d$393,294

Ethereum$148,288

Bitcoin$127,065

THORChain$52,089

Tron$16,704

Litecoin$15,847

Bitcoincash$15,085

BSC$6,585

Base$6,158

Doge$1,847

Avalanche$1,827

XRPL$1,476

CosmosHub$323

Solana$0

Fees 24h$48,971

Ethereum$16,083

THORChain$13,838

Bitcoin$9,616

Tron$4,113

Litecoin$2,178

Bitcoincash$1,954

BSC$510

Base$227

XRPL$203

Avalanche$152

Doge$97

CosmosHub$0

Solana$0

Cumulative Fees$174.91m

Ethereum$59.86m

THORChain$50.14m

Bitcoin$33.6m

BSC$17.05m

Litecoin$2.88m

Avalanche$2.78m

Bitcoincash$2.57m

Doge$2.18m

Terra Classic$1.12m

XRPL$1.06m

CosmosHub$839,719

Tron$591,305

Base$229,800

Solana$7,666

Revenue 30d$929,955

Revenue 30d by chain

Bitcoin$291,800

Ethereum$276,294

XRPL$246,387

Tron$38,384

Litecoin$20,925

BSC$18,706

Bitcoincash$18,046

Base$7,129

Avalanche$5,625

Doge$4,272

CosmosHub$1,931

THORChain$455.06

Solana$0

Revenue 7d$106,089

Ethereum$46,093

Bitcoin$39,480

Tron$5,210

Litecoin$4,900

Bitcoincash$4,688

BSC$2,060

Base$1,911

Doge$576

Avalanche$570

XRPL$458

CosmosHub$101

THORChain$42.03

Solana$0

Revenue 24h$10,778

Ethereum$4,932

Bitcoin$2,948

Tron$1,260

Litecoin$669

Bitcoincash$600

BSC$156

Base$70

XRPL$62

Avalanche$47

Doge$30

THORChain$3.94

CosmosHub$0

Solana$0

Cumulative Revenue$9.48m

Ethereum$4.14m

Bitcoin$2.92m

BSC$973,900

XRPL$290,643

Litecoin$231,530

Bitcoincash$220,398

Avalanche$186,347

Tron$158,894

Doge$150,078

CosmosHub$56,428

Terra Classic$56,159

THORChain$55,356

Base$35,235

Solana$1,376

Holders Revenue 30d$28,421

Holders Revenue 30d by chain

Bitcoin$8,864

Ethereum$8,570

XRPL$7,412

Tron$1,209

Litecoin$660.14

Bitcoincash$563.04

BSC$547.05

Base$226.22

Avalanche$168.88

Doge$125.76

CosmosHub$61.76

THORChain$14.05

Solana$0

Holders Revenue 7d$3,360

Ethereum$1,462

Bitcoin$1,252

Tron$161.25

Litecoin$156.07

Bitcoincash$146

BSC$64.70

Base$62.01

Doge$18.04

Avalanche$17.90

XRPL$14.51

CosmosHub$3.15

THORChain$1.35

Solana$0

Holders Revenue 24h$343

Ethereum$157

Bitcoin$94

Tron$40

Litecoin$21

Bitcoincash$19

BSC$4.97

Base$2.22

XRPL$1.97

Avalanche$1.48

Doge$0.94

THORChain$0.13

CosmosHub$0

Solana$0

Cumulative Holders Revenue$2.48m

Ethereum$1.21m

Bitcoin$798,554

BSC$123,161

Avalanche$69,666

Bitcoincash$69,639

Litecoin$64,086

Doge$55,353

THORChain$23,436

XRPL$21,217

Tron$20,800

CosmosHub$14,588

Base$10,154

Solana$355.13

Terra Classic$0

Incentives 1y$0.66

Incentives 30d$0.66

Incentives 7d$0.66

Incentives 24h$0.66

Cumulative Incentives$166.54m

Earnings (Annualized)$3.07m

Earnings 30d$929,955

Earnings 7d$106,088

Earnings 24h$10,777

Cumulative Earnings-$157.06m

DEX Volume 30d$2.457b

DEX Volume 30d by chain

THORChain$2.457b

DEX Volume 7d$339.12m

THORChain$339.12m

DEX Volume 24h$36.1m

THORChain$36.1m

Cumulative DEX Volume$128.072b

THORChain$128.072b

Market Cap$212.96m

$RUNE Price$0.65

All Time High$20.87

All Time Low$0.0085

View $RUNE token page

Fully Diluted Valuation$229.4m

Outstanding FDV$219.1m

$RUNE Volume 24h$36.01m

CEX Volume$8.7m

DEX Volume$32.8m(91.09% of total)

Protocol Information

THORChain is a decentralized exchange (DEX) enabling native cross-chain swaps without wrapped assets or bridges. All trades occur on-chain and are permissionless.

Website X/Twitter

Category:Dexs

Sub Category: AMM

Audits:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol Fees: Slip-based liquidity (swap) fees paid by users on each chain's THORChain pools, gross outbound fees and slashing fees paid into the Reserve, and affiliate fees charged by interfaces/wallets (affiliate fees are attributed to the THORChain native chain). RUNE block-reward emissions and the native tx fee (counted in the THORChain chain fees adapter) are excluded.Revenue: The share of swap fees burned as RUNE (1% since 2026-09-12, 5% before) - value to all RUNE holders - plus protocol-kept income (outbound fees net of the gas reimbursed to nodes, slashing fees, developer fund, marketing fund and the 20% directed into protocol-owned liquidity). The node-bonder share of swap fees is treated as a security cost and the LP, affiliate and TCY shares as supplier payments, so none of those count as revenue.Holders Revenue: Value to RUNE holders: the share of swap fees burned as RUNE (1% since 2026-09-12, 5% before), permanently removed from supply - the only component that accrues to every RUNE holder.DEX Volume: Total USD value of swaps executed through THORChain's liquidity pools, sourced from THORChain Midgard. Every swap routes through native RUNE and settles on the THORChain L1, so volume is reported on the THORChain chain. Daily RUNE-denominated swap volume is converted to USD using that day's RUNE price.

Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.

Earnings: Revenue of the protocol minus the incentives distributed to users

Hacks

Date: Jun 29, 2021

Amount: $350,000

Classification: Bridge & Cross-Chain

Technique: Bridge Logic Flaw

Chains: Ethereum

Bridge Hack

Language: Go

Target Type: DeFi Protocol

Date: Jul 15, 2021

Amount: $5m

Classification: Bridge & Cross-Chain

Technique: Bridge Logic Flaw

Chains: Ethereum

Bridge Hack

Language: Solidity

Target Type: DeFi Protocol

Date: Jul 22, 2021

Amount: $8m

Classification: Protocol Logic

Technique: Withdrawal Logic Flaw

Chains: Ethereum

Bridge Hack

Language: Solidity

Target Type: DeFi Protocol

Date: May 15, 2026

Amount: $10.7m

Classification: Bridge & Cross-Chain

Technique: Bridge Logic Flaw

Chains: Bitcoin, Ethereum, Base, BSC

Bridge Hack

Target Type: Chain

Competitors

Bridgers ($248,649)Uniswap V3 ($1.641b)Uniswap V4 ($1.572b)Curve DEX ($1.203b)Uniswap V2 ($940.43m)PancakeSwap AMM V3 ($733.14m)SushiSwap V3 ($42.33m)SushiSwap ($38.79m)DODO AMM ($14.02m)Metric V1 ($11.46m)

Income statement for THORChain DEX

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Gross Protocol Revenue	$1.01M	$5.36M	$3.3M	$5.25M	$7.8M	$8.1M	$12.77M	$23.3M	$19.93M	$10.13M	$11.76M	$16.71M	$11.79M	$4.55M	$3.12M	$2.9M	$1.63M	$1.93M	$7.1M	$4.64M	$6.62M	$2.28M	$2.92M
Swap Fees	$816.89K	$4.47M	$2.37M	$3.13M	$5.02M	$3.64M	$6.14M	$13.93M	$10.95M	$6.39M	$5.38M	$8.58M	$6.61M	$3.45M	$1.98M	$1.92M	$1.28M	$1.45M	$5.01M	$3.45M	$3.89M	$2.16M	$1.97M
Outbound Fees	$21.22K	$47.05K	$43.9K	$74.87K	$92.35K	$204.74K	$210.66K	$477K	$1.01M	$505.25K	$2.45M	$3.24M	$2.65M	$678.97K	$919.45K	$554.03K	$222.19K	$304.44K	$1.18M	$1.08M	$2.41M	$122.07K	$946.18K
Slashing Fees	$51.76	$47.37K	$133.05K	$120.93K	$1.85K	$25.21K	$151.57K	$15.91K	$3.51K	$2.3K	$5.32K	$4.43K	$948.74K	$33.52K	$82.79K	$240.53K	$2.63K	$2K	$332.43K	$50.07K	$293.99K	$32.60	$740.50
Affiliate Fees	$168.01K	$794.93K	$755.48K	$1.92M	$2.68M	$4.22M	$6.27M	$8.87M	$7.97M	$3.23M	$3.93M	$4.9M	$1.59M	$389.59K	$140.13K	$187.01K	$128.57K	$174.9K	$575.7K	$56.25K	$24.21K	$0.01	$0
Cost of Revenue	$749.77K	$4.15M	$2.81M	$4.65M	$7.15M	$7.62M	$11.91M	$21.8M	$18.83M	$9.97M	$11.76M	$16.71M	$10.84M	$4.52M	$3.04M	$2.66M	$1.63M	$1.93M	$6.77M	$4.59M	$6.33M	$2.28M	$2.74M
Swap Fees To RUNE Bonders	$249.23K	$1.77M	$1.33M	$1.76M	$2.99M	$2.07M	$3.39M	$5.84M	$3.22M	$4.06M	$3.27M	$3.59M	$2.05M	$1.86M	$1.21M	$1.03M	$579.58K	$612.76K	$2.13M	$1.51M	$1.96M	$983.8K	$860.61K
Swap Fees To LPs	$232.73K	$1.09M	$445.79K	$593.74K	$888.69K	$848.78K	$1.71M	$6.7M	$6.63M	$2.17M	$2.1M	$4.99M	$4.55M	$1.59M	$772.64K	$891.31K	$697.88K	$838.34K	$2.88M	$1.94M	$1.93M	$1.18M	$1.11M
Affiliate Fees To Integrators	$168.01K	$794.93K	$755.48K	$1.92M	$2.68M	$4.22M	$6.27M	$8.87M	$7.97M	$3.23M	$3.93M	$4.9M	$1.59M	$389.59K	$140.13K	$187.01K	$128.57K	$174.9K	$575.7K	$56.25K	$24.21K	$0.01	$0
TCY Staker Rewards	$81.69K	$447.24K	$236.79K	$313.29K	$502.25K	$364.3K	$418.75K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Gas Reimbursement	$18.1K	$43.65K	$40.89K	$66.23K	$87.41K	$113.04K	$121.45K	$392.53K	$1.01M	$505.25K	$2.45M	$3.24M	$2.65M	$678.97K	$919.45K	$554.03K	$222.19K	$304.44K	$1.18M	$1.08M	$2.41M	$122.07K	$769.81K
Gross Profit	$256.4K	$1.22M	$491.24K	$599.51K	$646.15K	$481.19K	$854.46K	$1.49M	$1.1M	$167.05K	$5.32K	$4.43K	$948.74K	$33.52K	$82.79K	$240.53K	$2.63K	$2K	$332.43K	$50.07K	$293.99K	$32.60	$177.27K
RUNE Burn	$8.17K	$133.93K	$118.38K	$156.65K	$251.13K	$182.15K	$306.84K	$696.71K	$547.27K	$82.38K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Outbound Fees	$3.11K	$3.4K	$3.01K	$8.64K	$4.94K	$91.66K	$89.18K	$84.47K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$176.38K
Slashing Fees	$51.76	$47.37K	$133.05K	$120.93K	$1.85K	$25.21K	$151.57K	$15.91K	$3.51K	$2.3K	$5.32K	$4.43K	$948.74K	$33.52K	$82.79K	$240.53K	$2.63K	$2K	$332.43K	$50.07K	$293.99K	$32.60	$740.50
Developer Fund	$40.85K	$223.63K	$118.38K	$156.65K	$251.13K	$182.15K	$306.84K	$696.71K	$547.27K	$82.38K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Marketing Fund	$40.85K	$223.63K	$118.38K	$156.65K	$137.09K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Protocol Owned Liquidity	$163.38K	$583.78K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Incentives	$0.66	$0	$0	$0	$0	$0	$0	$4M	$13.12M	$9.93M	$15.64M	$12.9M	$9.7M	$3.13M	$3.74M	$4.68M	$4.81M	$7.23M	$23.85M	$17.3M	$18.52M	$11.89M	$6.1M
Block Rewards	$0.66	$0	$0	$0	$0	$0	$0	$4M	$13.12M	$9.93M	$15.64M	$12.9M	$9.7M	$3.13M	$3.74M	$4.68M	$4.81M	$7.23M	$23.85M	$17.3M	$18.52M	$11.89M	$6.1M
Earnings	$256.4K	$1.22M	$491.24K	$599.51K	$646.15K	$481.19K	$854.46K	-$2.5M	-$12.02M	-$9.76M	-$15.63M	-$12.9M	-$8.76M	-$3.1M	-$3.66M	-$4.44M	-$4.81M	-$7.23M	-$23.52M	-$17.25M	-$18.22M	-$11.89M	-$5.92M
Token Holder Net Income	$8.17K	$133.93K	$118.38K	$156.65K	$251.13K	$182.15K	$306.84K	$696.71K	$547.27K	$82.38K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
RUNE Burn	$8.17K	$133.93K	$118.38K	$156.65K	$251.13K	$182.15K	$306.84K	$696.71K	$547.27K	$82.38K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

Income flow visualization

YearlyQuarterlyMonthlyCumulative

THORChain DEX history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from Apr 11, 2021 to Oct 20, 2026.

All-time high TVL: $546.44m on Apr 2, 2022. All-time low TVL: $2.31m on Apr 11, 2021.

Daily TVL, Sep 21, 2026 to Oct 20, 2026

Date	TVL
Sep 21, 2026	$60.88m
Sep 22, 2026	$66.78m
Sep 23, 2026	$66.16m
Sep 24, 2026	$63.79m
Sep 25, 2026	$65.6m
Sep 26, 2026	$66.37m
Sep 27, 2026	$72.85m
Sep 28, 2026	$71.55m
Sep 29, 2026	$72.74m
Sep 30, 2026	$71.31m
Oct 1, 2026	$73.57m
Oct 2, 2026	$72.99m
Oct 3, 2026	$71.4m
Oct 4, 2026	$71.48m
Oct 5, 2026	$74.48m
Oct 6, 2026	$73.67m
Oct 7, 2026	$72.21m
Oct 8, 2026	$69.39m
Oct 9, 2026	$66.34m
Oct 10, 2026	$68.06m
Oct 11, 2026	$67.47m
Oct 12, 2026	$68.5m
Oct 13, 2026	$64.85m
Oct 14, 2026	$66.08m
Oct 15, 2026	$64.4m
Oct 16, 2026	$64.93m
Oct 17, 2026	$64.59m
Oct 18, 2026	$64.21m
Oct 19, 2026	$65.08m
Oct 20, 2026	$64.62m

TVL at each month end, Nov 2024 to Oct 2026

Date	TVL
Nov 30, 2024	$342.69m
Dec 31, 2024	$289.92m
Jan 31, 2025	$179.89m
Feb 28, 2025	$119.04m
Mar 31, 2025	$110.15m
Apr 30, 2025	$126.59m
May 31, 2025	$146.59m
Jun 30, 2025	$139.22m
Jul 31, 2025	$150.01m
Aug 31, 2025	$143.87m
Sep 30, 2025	$141.18m
Oct 31, 2025	$115.09m
Nov 30, 2025	$92.85m
Dec 31, 2025	$85.62m
Jan 31, 2026	$80.14m
Feb 28, 2026	$63.76m
Mar 31, 2026	$63.85m
Apr 30, 2026	$74.71m
May 31, 2026	$67.1m
Jun 30, 2026	$49.97m
Jul 31, 2026	$55.08m
Aug 31, 2026	$53.62m
Sep 30, 2026	$71.31m
Oct 20, 2026 (latest)	$64.62m

TVL at each year end, Dec 31, 2021 to Dec 31, 2025

Date	TVL
Dec 31, 2021	$190.73m
Dec 31, 2022	$93.31m
Dec 31, 2023	$321.45m
Dec 31, 2024	$289.92m
Dec 31, 2025	$85.62m

Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026

Month	Fees	Revenue	Holders revenue
Nov 2024	$8.82m	$457,379	$227,850
Dec 2024	$6.99m	$371,571	$185,317
Jan 2025	$7.22m	$403,635	$201,652
Feb 2025	$8.64m	$622,060	$284,829
Mar 2025	$7.44m	$468,120	$210,224
Apr 2025	$4.02m	$279,303	$97,473
May 2025	$4.79m	$364,655	$121,114
Jun 2025	$3.96m	$210,500	$88,250
Jul 2025	$2.57m	$171,358	$55,763
Aug 2025	$2.77m	$165,133	$64,017
Sep 2025	$2.75m	$144,696	$62,365
Oct 2025	$3.62m	$219,077	$108,670
Nov 2025	$2.24m	$187,657	$63,684
Dec 2025	$1.94m	$239,418	$78,780
Jan 2026	$2.29m	$187,014	$61,416
Feb 2026	$1.69m	$277,045	$51,660
Mar 2026	$1.28m	$135,448	$43,570
Apr 2026	$2.44m	$268,493	$88,669
May 2026	$662,436	$195,436	$20,708
Jun 2026	$200,104	$27,314	$9,003
Jul 2026	$1.1m	$136,187	$44,941
Aug 2026	$763,241	$101,694	$32,735
Sep 2026	$3.5m	$977,852	$56,251
Oct 2026 (to date)	$1.01m	$256,401	$8,167

The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/thorchain-dex

Frequently asked questions

What is THORChain DEX's TVL?

As of Oct 20, 2026, THORChain DEX has $66.14m in total value locked. TVL has increased 10.8% over the past 30 days.

What chains does THORChain DEX operate on?

THORChain DEX operates on 14 chains: THORChain, Bitcoin, Ethereum, BSC, and Bitcoincash and 9 others. THORChain holds the largest share at 50.9%.

How much has THORChain DEX generated in fees and revenue?

Over the past 30 days, THORChain DEX generated $3.38m in fees. Of that, $929,955 was protocol revenue. Based on the trailing year, the annualized rate is $20.32m in fees and $3.07m in revenue.

What is the RUNE token price and valuation?

RUNE is currently trading at $0.66. Its circulating market capitalization is $217.62m, ranking it #253. Its fully diluted valuation is $234.42m. Supply currently stands at 328.54m circulating, 353.9m total supply, 353.9m maximum supply.

How has RUNE performed recently?

RUNE is down 1.4% over the past 7 days and up 20.3% over the past 30 days. Its all-time high is $20.87, reached on May 18, 2021. The token is currently 96.8% below that level.

How does THORChain DEX's TVL compare to similar protocols?

Among Dexs protocols tracked by DefiLlama, THORChain DEX ranks #23 by TVL. The category holds $14.159b across 1,917 protocols, and THORChain DEX accounts for 0.5% of that total. Similar protocols include Bridgers, Uniswap V3, Uniswap V4, Curve DEX, Uniswap V2, PancakeSwap AMM V3, SushiSwap V3, SushiSwap, DODO AMM, and Metric V1.

How much trading volume does THORChain DEX process?

THORChain DEX processed $2.457b in DEX volume over the past 30 days.

Has THORChain DEX ever been exploited?

THORChain DEX has 4 recorded security incidents. The most recent incident occurred on May 15, 2026 and involved $10.7m. It was classified as Bridge & Cross-Chain.