On THORChain, decisions are made directly on the blockchain. For an important change to be accepted, ⅔ of its nodes have to vote for it. Right now, 111 nodes are active. They all bond at least 300,000 RUNE, put up as collateral to secure the network. Each node has one vote, no matter how much it has bonded. All nodes run software called THORNode. Anyone, from devs to community members, can suggest changes to this software. These ideas are discussed in Discord (open to anyone to join) and fine-tuned until they become code. The changes are then submitted to the nodes, who decide whether THORNode moves to the next version, or not. It takes the approval of ⅔ of the nodes. Nodes also vote on network parameters through a system called Mimir. For economic changes such as fees, it takes ⅔ of the nodes. For operational changes such as security, only 3 votes are required. 4 nodes can vote to rescind an operational mimir, then 5 node votes can counter the 4, and so on. Some actions don't need a vote at all. For example, two nodes are ejected from the network every churn period (roughly 3 days), the oldest node in the network and the node with the most slash points. Swapping is automatically halted if the network detects an insolvency.