THORChain uses a node-based governance system in which 111 active nodes each bond at least 300,000 RUNE as collateral and receive one vote regardless of their bonded amount. Major software upgrades and economic decisions require approval from two-thirds of active nodes, equal to at least 74 votes at the current network size. Developers and community members propose changes to THORNode through public Discord discussions before developers turn accepted ideas into code for node approval. Mimir, a mechanism for changing network parameters, allows operators to adjust some settings without a full software upgrade. Operational Mimir changes related to security can pass with three node votes, while four votes can rescind such a setting and five votes can counter that rescission. Separate automated rules rotate nodes approximately every three days by removing the oldest active node and the node with the most slash points. THORChain also halts swaps automatically when it detects insolvency, without requiring a governance vote.