Validators process transactions and store information & liquidity providers deposit funds into Thorchain. Validators & liquidity providers receive transaction fees from traders (supply-side fees).

Thorchain is a smart contract platform for cross-chain exchange (a blockchain). Thorchain was founded by a pseudo-anonymous team and launched in 2018.

RUNE tokenholders own and govern the protocol. They do not currently take a cut of the total transaction fees paid by traders (revenue). Thorchain's investors include Multicoin Capital, yield ventures, etc.

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Thorchain - Competitive landscape

Daily market cap (fully diluted) for Thorchain in the past 180 days.