A privacy DEX with no server.

What is a privacy DEX?

A privacy DEX is a private, decentralized exchange interface that does not collect anything about you: no account, no email, no identity check, no analytics, no behavioural logging. THORDEX goes further than promising that — it structurally cannot collect it, because the interface has no backend to send data to.

Underneath, THORDEX routes swaps through THORChain, a decentralized liquidity network that settles cross-chain trades through validator-held vaults. Swaps are native rather than wrapped — you send real Bitcoin and receive real Monero, with no bridge contract holding a synthetic version in between.

What that means in practice

You trade from self-custody: your keys stay in your browser or on your hardware wallet. Transactions are signed locally and broadcast straight to the network. There is no sign-up, no email, no analytics script and no server that could take custody of funds or build a profile of what you traded — because there is no server at all.

Fee

0% platform fee. No subscription, no tiers, no token to hold

Identity

No account, no email, no sign-up. Nothing to verify because there is no counterparty holding your funds

Assets

30+ across Bitcoin, Ethereum, BNB Chain, Avalanche, Base, Litecoin, Dogecoin, Bitcoin Cash, Cosmos, XRP, TRON, Solana, plus the privacy coins Monero, Zcash and Dash

Wallets

Ledger, Trezor and Keystone hardware wallets; MetaMask, Rabby, Phantom, Keplr, OKX, Brave; keystore file, passkey and Vultisig

Privacy by architecture, not by promise

Most exchanges publish a privacy policy — a statement of what they choose to do with data they have already collected. THORDEX has no such document to write, because the collection never happens. There is no account system, no analytics, no third-party script and no backend to receive a request.

What THORDEX does not have

No account

No email, no password, no KYC, no sign-up. Connect a wallet and trade

No analytics

No Google Analytics, no pixels, no session recording, no third-party tags of any kind

No server logs

There is no THORDEX server. Nothing sits between your browser and the network to write a log line

No custody

Keys stay on your device or hardware wallet. Nothing to freeze, and no records to hand over

What this does and does not hide

Be precise about the boundary, because it matters. THORDEX gives you interface privacy: nobody learns who you are, what you looked at, or what you traded, because nothing is recorded. It does not change what a blockchain does. A swap from bitcoin to ether is still two public transactions on two public ledgers, and chain analysis can read them exactly as before.

On-chain privacy is a property of the asset, not the interface. If that is what you need, it comes from privacy coins — Monero, Zcash and Dash are all swappable on THORDEX. Anyone claiming their front end makes a Bitcoin transaction private is selling you something.

Privacy assets and everything else

THORDEX swaps native assets — the real coin on its own chain, not a wrapped claim on someone else's balance sheet. Below is the privacy-asset picture specifically, since that is what most people arrive here looking for.

More on swapping into Monero — how a non-custodial privacy-coin swap works, and why XMR holders ended up needing a DEX.

Everything else

Bitcoin, Ethereum, BNB Chain, Avalanche, Base, Litecoin, Dogecoin, Bitcoin Cash, Cosmos Hub, XRP, TRON, Solana and Monero route natively through THORChain. Arbitrum, Optimism, Polygon, Gnosis, Scroll, Sui, TON, NEAR, Stellar, Cardano and Aptos are reachable through the NEAR Intents layer, with Rango as a catch-all behind that. The Earn tab adds single-asset yield through Rujira Lend ghost vaults.

0% platform fee, and no catch

THORDEX adds no fee of its own to any swap. Most interfaces take an affiliate cut of 0.1% to 1% on top of the protocol; THORDEX takes zero. What remains are THORChain's own costs and network gas, which are paid to the network and its liquidity providers — never to THORDEX.

Why it can be free

Because there is nothing to pay for. An affiliate fee exists to cover servers, hosting, APIs and staff. THORDEX has no backend and no infrastructure bill — it is a static file on IPFS that talks directly to validators. With no running costs, there is no reason to charge a spread on top of the protocol.

Every quote shows the full cost before you sign, so you can check this rather than take it on faith. Note that a link carrying a ?ref= referral parameter can add a small affiliate fee for the referrer; opening THORDEX directly never does.

Three ways to open THORDEX

All three routes serve identical code. They differ only in how much you rely on someone else to hand it to you — listed here from most convenient to most independent.

1. Through eth.limo

   Visit thordex.eth.limo in any ordinary browser. eth.limo is the most widely used public ENS gateway: it looks up the content hash stored in the thordex.eth name and serves what it finds. Vitalik Buterin publishes his blog the same way, at vitalik.eth.limo.

2. Through any other IPFS gateway

   eth.limo is a convenience, not a dependency. The same content hash is retrievable from dweb.link, ipfs.io, 4everland.io, cloudflare-ipfs.com or a node you run yourself. If one gateway goes offline or is blocked in your region, another serves the identical file.

3. From a file on your own disk

   Open THORDEX once, right-click, choose Save As, and keep THORDEX.html. Double-clicking that file gives you the full interface, running locally, with no gateway involved at all. This is the self-hosted, sovereign path: your access no longer depends on any website, domain or service continuing to exist.

Why a DEX with no server matters

A decentralized exchange with a centralized front end is only as available as that front end. The settlement layer can be perfectly trustless and still be unreachable, because the part users actually touch is a website — and websites have owners, hosts and registrars.

Three failure modes follow from that. A domain can be seized or a registrar can pull it. A host can withdraw service, or be compelled to. And the JavaScript a server sends can be changed between the version that was audited and the version that reaches you — the same origin serving different bytes to different people is invisible from the browser.

Content addressing removes all three. A file on IPFS is named by its own hash, so the address is the integrity check: a gateway cannot alter what it serves without changing the address it was asked for. There is no single host to compel, because any node holding the content can serve it — which is what makes the interface censorship-resistant. And because the artifact is one file, you can simply keep it.

Resilience is built into the app, not just its delivery

The same principle runs through the client. THORDEX discovers live THORChain validators and talks to them directly rather than routing through a fixed API host, keeping a health-checked pool and falling back through independent endpoints per chain. If conditions look wrong it drops optional third-party routes and continues on the paths it can verify.

Verify the build before you trust it

You should not have to take anyone's word for what code you are running — and with content addressing, you don't. An IPFS content identifier is derived from the content itself, so the address is the integrity check. The CID shown above is read live from the thordex.eth resolver on Ethereum; it is a fingerprint of the exact bytes of the app.

Nothing about this needs publishing or maintaining. If even one byte of the build changed, the CID would change with it — a gateway cannot serve altered code at the same address, and there is no separate digest that could go stale or be tampered with.

Checking a saved copy

Fetch the same CID again through any gateway — or with an IPFS client — and compare it with the file on your disk. If they match, your copy is the build the ENS record points at. And because old content keeps its old address, a copy you saved last month can still be checked against the CID it came from, even after the record moves to a newer release.

Frequently asked questions