Thorchain
Onchain metrics, activity and charts for Thorchain.
THORChain: Network REV
Daily component breakdown
Methodology
THORChain financials capture protocol, swap, outbound, affiliate, and node-operator commission economics rather than a classical L1 gas-fee accounting model.
Network REV equals swap liquidity fees plus outbound fee surplus plus THORName registration fees plus frontend affiliate fees. Net income subtracts THORNode-derived node operator commission expense.
Network REV Distribution assigns frontend affiliate fees directly to affiliates and outbound fee surplus plus THORName fees to the Protocol Reserve. Swap liquidity fees are allocated across nodes, liquidity providers, TCY stakers, protocol destinations, and income burn using Midgard's daily destination shares, scaled to exclude block rewards. The destination buckets reconcile to Network REV.
Chain shutdown display: The voluntary THORChain shutdown from May 16 to June 21, 2026 is omitted from timeseries x-axes. May 15 and June 22 are displayed adjacently; income-statement totals remain calendar-based.
RUNE income burn and reserve inflows: RUNE income burn is measured from onchain mint/burn events. Reserve inflow columns capture inflows only — block-reward payouts and gas top-ups do not emit reserve events, so net change and the reserve level are not shown; the reserve level comes from the THORNode API. The affiliate leaderboard's trailing-30D window includes all calendar days.
THORChain: Distribution of Network REV
Who receives Network REV
THORChain: Profitability
Network REV, expenses, and net income
THORChain: RUNE Income Burn
Daily burn and cumulative RUNE burned
THORChain: Protocol Reserve Inflows
Direct and other transaction inflows
THORChain: Outbound Fee Margin
Daily fee accounting less gas reimbursement
THORChain: Affiliate Fees by Frontend
Daily affiliate fees by frontend, top 10 + Other
THORChain: Affiliate Fee Leaderboard
Trailing 30D affiliate fees by frontend