Thorchain

Methodology

Bonded-value metrics use THORNode active-node snapshots; node earnings and reward rates come from daily staking aggregates.

Chain halt display: The controlled THORChain halt following the exploit from May 16 to June 21, 2026 is omitted from timeseries x-axes. May 15 and June 22 are displayed adjacently; counters use the latest complete-day snapshot. The trailing 30-day node reward rate remains calendar-based, so values through July 21, 2026 include days during the controlled halt.

Bond Security

THORChain uses bonded RUNE as slashable collateral for active THORNodes securing assets held in its liquidity pools. Bonded RUNE and liquidity-pooled RUNE are separate capital positions: the same RUNE cannot serve both roles simultaneously, although one participant can allocate different RUNE to each.

The following charts compare active bond with pooled value. They describe the economic collateral protecting THORChain liquidity, not a conventional staking participation rate.

TCY Staking

TCY is a token issued to lending and savers creditors in the 2025 restructuring; staked TCY earns RUNE distributions from system income. The TCY staked balance is cumulative net staked TCY since launch on May 5, 2025, including TCY auto-staked at claim.

TCY Ownership, Claims & Traceability

Claim-module POL is fully derived from protocol buyback events. Treasury-linked TCY is observed in a documented custody route; it is not a complete execution-level purchase trace. CALC/WASM purchase traces are shown separately and cover only a small subset of the treasury program.