What is THORChain?

THORChain is a network that swaps native coins across chains, with no bridges and no wrapped tokens. It is the settlement layer under Rujira and Redacted, which is why a private balance on Redacted holds real Bitcoin and Ether.

Where Redacted sits

Three layers, each built on the one below.

RedactedPrivate DeFi layer

ReserveSpending accountsZero-knowledge proofsIndependent nodes

RujiraApp layer on THORChain

OrderbookSwapsBorrowingLendingStakingLiquidations

THORChainSettlement layer

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Native coins on their own chains

How THORChain works

Native coins: Node operators run full nodes of every connected chain. Coins sit in vaults on their home chains, so a swap moves real BTC or ETH, with no bridge and no wrapped token.
Vaults: The vaults are secured with threshold signatures. Their keys are split among about 100 independent node operators, and the set of nodes changes every few days.
RUNE: Node operators bond RUNE to take part, and RUNE sits on one side of every pool of liquidity. A swap from Bitcoin to Ether goes from BTC to RUNE to ETH in one flow.
App layer: Smart contracts (CosmWasm) run on THORChain itself. Rujira and Redacted are built there.
Secured assets: Coins deposited into THORChain’s vaults become secured assets one to one, such as BTC-BTC. Apps use them for trading, lending and more, and they can be withdrawn back to their home chain.

Sources: THORChain documentation and Rujira’s guide to secured assets.

What it means for Redacted

Real coins in the Reserve

Redacted’s Reserve holds secured assets, so a private balance is real BTC, ETH and other native coins, not a wrapped copy.

Withdraw to any chain

When you withdraw, THORChain sends the native coin to an address on its home chain.

One private account for every chain

THORChain settles everything, so one private account covers coins from every connected chain.

Chains in reach

The chains whose coins appear in Rujira's markets and vaults right now.

Avalanche

Base

Bitcoin

Bitcoin Cash

BNB Chain

Cosmos Hub

Dogecoin

Ethereum

Litecoin

Tron

XRP Ledger

Coins

Private BitcoinBitcoin

Private EtherEthereum

Private XRPXRP Ledger

Private SolanaSolana

Private ZcashZcash

Private DogecoinDogecoin

Private LitecoinLitecoin

Private Bitcoin CashBitcoin Cash

Private AvalancheAvalanche C-Chain

Private BNBBNB Smart Chain

Private CosmosCosmos Hub

Private TronTron

Private USD CoinEthereum (ERC-20)

Private TetherEthereum (ERC-20)

Private DaiEthereum (ERC-20)

Private Wrapped BitcoinEthereum (ERC-20)

Private THORChainTHORChain

Private RujiraTHORChain

Private TCYTHORChain

Why Redacted works this way

Financial privacy, the way the cypherpunks meant it

In the early 1990s the cypherpunks argued that an open society needs people to be able to pay and trade without broadcasting their lives. Public blockchains made every balance and every trade visible by default. Redacted keeps the activity on-chain and the rules public, and takes the person out of the picture.

Open to anyone

Anyone with a wallet can use Redacted, with no sign-up and no identity check. The rules are public and the same for every user, and withdrawals are always open.

Proofs instead of trust

Your browser proves every action with a zero-knowledge proof. Nobody holds your keys or can spend your notes, and the code is open source for anyone to check.

Nodes decide

Independent nodes approve deposits after the checks they choose. New money waits about two hours, which makes a deposit harder to match to what you do next.

THORChain, answered

Is THORChain a bridge?+

No. THORChain holds native coins in vaults on their own chains and swaps them directly, so nothing is wrapped and no bridge is involved.

What is RUNE?+

THORChain’s native asset. Node operators bond it to take part in the network, and it pairs with every coin in THORChain’s liquidity.

How does Redacted use THORChain?+

Redacted’s Reserve holds THORChain secured assets, so every private balance is backed by real coins on their home chains, and withdrawals arrive as native coins.