THORChain
RUNE#129THORChain is a cross-chain exchange for swapping native assets like Bitcoin without bridges; RUNE settles every swap and secures the network.
- Market cap
- $245.55M
- Volume 24h
- $14.29M
- All-time high
- —
- Circulating supply
- 328.59M of 354.2M
Passes our 8 Shariah criteria. Needs caution: excessive uncertainty (gharar), usage, and benefit and harm (maslahah).
- 5 pass
- 3 caution
- 0 fail
Verdict history
- HalalCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold THORChain?8 Shariah criteria
5 pass · 3 caution · 0 failRewards come from swap fees with slashing risk, not interest; holders can delegate passively, and the old lending and savers programmes are closed.
Riba is interest or any guaranteed increase on a loan. Validators and liquidity providers earn a variable share of swap fees, and bonded RUNE can be slashed, so this is a reward for work and risk, not interest. Sharlife, the first authoritative source that rates RUNE, lists it as permissible. THORFi Lending and Savers were suspended in January 2025 and lending is now deprecated. Because holders can delegate RUNE to nodes and earn passively, the criterion is slightly below the maximum.
RUNE is the settlement and security asset of a working cross-chain exchange.
This criterion asks whether the asset has real value as property (mal). RUNE settles every swap, is paired in every pool and is bonded to secure user funds. Sharlife rates it permissible, and the general dispute among scholars about whether crypto is property is not a weakness of this coin, so the criterion is at the maximum.
THORChain exchanges real assets; RUNE has no chance-based payout or meme mechanics.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. THORChain performs spot swaps of native assets, and RUNE has no lottery or game design. Market speculation is not a feature of the token, so the criterion is at the maximum.
Revenue is swap fees; the former lending and savers products are closed, and 10% of revenue now repays their creditors through TCY.
This criterion asks how the network earns and whether any of that income is impermissible. THORChain's revenue is fees on swaps, which is a permissible service fee. It previously ran lending and savers products, which failed in January 2025; their creditors were converted into TCY holders, who now receive 10% of revenue. With the lending business closed, the criterion is in pass, slightly reduced for this history.
Open code and fully released supply, but a $200 million default in 2025, a suspected $10 million exploit in 2026 and a largely pseudonymous team.
Gharar is excessive uncertainty or hidden information. RUNE supply is capped and fully released, code is open and vaults are visible on-chain. But users of THORChain's lending and savers products faced about $200 million of unserviceable debt in 2025, trading was halted after a suspected $10 million exploit in May 2026, and much of the core team is pseudonymous. These concrete risks to users put the criterion at caution.
Mostly legitimate cross-chain swaps, but THORChain is a known route for laundering funds stolen in exchange hacks.
This criterion looks at what the asset is actually used for. Most THORChain activity is ordinary cross-chain swaps. But proceeds of the Bybit hack were swapped through THORChain, and in September 2026 it declined Bitget's request to block wallets linked to a $387.5 million hack. A meaningful use for moving stolen funds puts the criterion at caution.
Fully paid spot RUNE is available and can be held in self-custody.
This criterion asks whether the asset can be owned in a permissible way. RUNE trades spot with full payment and delivery on exchanges and on THORChain itself, and it can be held in a self-custody wallet. Ownership does not depend on derivatives or leverage, so the criterion is at the maximum.
THORChain gives non-custodial access to cross-chain swaps, but its lending default, exploits and refusal to block stolen funds caused real harm.
Maslahah weighs benefit against harm. THORChain lets people swap native assets without a custodian. Against this, lenders and savers lost access to funds in the 2025 default, a suspected exploit drained about $10 million in May 2026, and its policy of not blocking hacked funds helps thieves cash out. The criterion is at caution.
How you can use it
Tap a card for the ruling and sourcesBuying RUNE with full payment and immediate delivery is available, and the tokens can be moved to a self-custody wallet. This is the clean way to own a HALAL-rated asset.
No RUNE exchange-traded fund was found as of 1 October 2026. A fund that holds RUNE itself and does not lend it would be judged like spot.
RUNE settles swaps on THORChain but is not used as general money. Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible.
Bonding RUNE as a validator, or delegating to a node, earns a variable share of swap fees, and the bond can be slashed. This is a reward for securing user funds, not interest.
Margin trading in RUNE is offered by some exchanges but is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
RUNE perpetual futures are offered on several exchanges, but futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Lending RUNE through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
Providing liquidity in THORChain pools earns a variable share of swap fees with price risk, which is not interest. Third-party RUNE yield products that come from lending fail.
Scholars quotes
The opinion on this is the same as doing the same with any halal assets such as shares – 1) is permissible, 2) is more debatable and there are differing opinions on short-term trading.As I mentioned at the beginning of this article it is not necessary to substantiate the permissibility of something as long as there are no prohibited factors involved in it or surrounding it.Penggunaan cryptocurrency sebagai mata uang hukumnya haram, karena mengandung gharar (ketidakjelasan), dharar (bahaya) dan bertentangan dengan Undang-Undang nomor 7 tahun 2011 tentang Mata Uang dan Peraturan Bank Indonesia nomor 17 tahun 2015 tentang Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia.Sebagaimana mata wang yang lain, mata wang digital hendaklah tidak digunakan sebagai bayaran kepada barangan, perkhidmatan dan aktiviti tidak patuh Syariah seperti pembelian dadah, pelacuran, perjudian dan pendanaan aktiviti keganasan serta penggubahan wang haram.The SAC has also resolved that investment and trading of Digital Assets that fulfil the above requirements and which are traded on Digital Asset Exchange (DAX) registered with SC are permissible.Third: In light of the above and given the significant risks associated with this type of currencies and the instability of their transactions, the Council of the Academy recommends pursuing research and studies on issues affecting its ruling.Bitcoin is a digital currency that does not meet the legal and Sharia criteria that make it a currency subject to the rulings of dealing with official legal currencies recognized internationally.بناءً على ذلك: فلا يجوز شرعًا تداول عملة "البتكوين" والتعامل من خلالها بالبيعِ والشراءِ والإجارةِ وغيرها، بل يُمنع من الاشتراكِ فيها؛ لعدمِ اعتبارِها كوسيطٍ مقبولٍ للتبادلِ من الجهاتِ المخُتصَّةِ، ولِمَا تشتمل عليه من الضررِ الناشئ عن الغررِ والجهالةِ والغشِّ في مَصْرِفها ومِعْيارها وقِيمتها، فضلًا عما تؤدي إليه ممارستُها من مخاطرَ عاليةٍ على الأفراد والدول.According to research and opinion of experts so far, cryptocurrency is not considered ‘ maal ’ (wealth) in Sharia.Muhammadiyah memandang transaksi dan investasi kripto pada dasarnya mubah (boleh) tetapi dengan syarat tertentu.Our current position is 'tawaquf'; we can't say it is halal or haram, but we say it is better not to engage in itAI-assisted analysis checked against sources. Not a fatwa or investment advice.
Where it trades
Section in preparation
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