diff --git a/chronos/ratelimit.nim b/chronos/ratelimit.nim
new file mode 100644
index 0000000..5bf8af9
--- /dev/null
+++ b/chronos/ratelimit.nim
@@ -0,0 +1,138 @@
+#               Chronos Rate Limiter
+#            (c) Copyright 2022-Present
+#         Status Research & Development GmbH
+#
+#              Licensed under either of
+#  Apache License, version 2.0, (LICENSE-APACHEv2)
+#              MIT license (LICENSE-MIT)
+
+{.push raises: [Defect].}
+
+import ../chronos
+import timer
+
+export timer
+
+type
+  BucketWaiter = object
+    future: Future[void]
+    value: int
+    alreadyConsumed: int
+
+  TokenBucket* = ref object
+    budget: int
+    budgetCap: int
+    lastUpdate: Moment
+    fillDuration: Duration
+    workFuture: Future[void]
+    pendingRequests: seq[BucketWaiter]
+    manuallyReplenished: AsyncEvent
+
+proc update(bucket: TokenBucket) =
+  if bucket.fillDuration == default(Duration):
+    bucket.budget = min(bucket.budgetCap, bucket.budget)
+    return
+
+  let
+    currentTime = Moment.now()
+    timeDelta = currentTime - bucket.lastUpdate
+    fillPercent = timeDelta.milliseconds.float / bucket.fillDuration.milliseconds.float
+    replenished =
+      int(bucket.budgetCap.float * fillPercent)
+    deltaFromReplenished =
+      int(bucket.fillDuration.milliseconds.float *
+      replenished.float / bucket.budgetCap.float)
+
+  bucket.lastUpdate += milliseconds(deltaFromReplenished)
+  bucket.budget = min(bucket.budgetCap, bucket.budget + replenished)
+
+proc tryConsume*(bucket: TokenBucket, tokens: int): bool =
+  ## If `tokens` are available, consume them,
+  ## Otherwhise, return false.
+
+  if bucket.budget >= tokens:
+    bucket.budget -= tokens
+    return true
+
+  bucket.update()
+
+  if bucket.budget >= tokens:
+    bucket.budget -= tokens
+    true
+  else:
+    false
+
+proc worker(bucket: TokenBucket) {.async.} =
+  while bucket.pendingRequests.len > 0:
+    bucket.manuallyReplenished.clear()
+    template waiter: untyped = bucket.pendingRequests[0]
+
+    if bucket.tryConsume(waiter.value):
+      waiter.future.complete()
+      bucket.pendingRequests.delete(0)
+    else:
+      waiter.value -= bucket.budget
+      waiter.alreadyConsumed += bucket.budget
+      bucket.budget = 0
+
+      let eventWaiter = bucket.manuallyReplenished.wait()
+      if bucket.fillDuration.milliseconds > 0:
+        let
+          nextCycleValue = float(min(waiter.value, bucket.budgetCap))
+          budgetRatio = nextCycleValue.float / bucket.budgetCap.float
+          timeToTarget = int(budgetRatio * bucket.fillDuration.milliseconds.float) + 1
+          #TODO this will create a timer for each blocked bucket,
+          #which may cause performance issue when creating many
+          #buckets
+          sleeper = sleepAsync(milliseconds(timeToTarget))
+        await sleeper or eventWaiter
+        sleeper.cancel()
+        eventWaiter.cancel()
+      else:
+        await eventWaiter
+
+  bucket.workFuture = nil
+
+proc consume*(bucket: TokenBucket, tokens: int): Future[void] =
+  ## Wait for `tokens` to be available, and consume them.
+
+  let retFuture = newFuture[void]("TokenBucket.consume")
+  if isNil(bucket.workFuture) or bucket.workFuture.finished():
+    if bucket.tryConsume(tokens):
+      retFuture.complete()
+      return retFuture
+
+  bucket.pendingRequests.add(BucketWaiter(future: retFuture, value: tokens))
+  if isNil(bucket.workFuture) or bucket.workFuture.finished():
+    bucket.workFuture = worker(bucket)
+
+  proc cancellation(udata: pointer) =
+    for index in 0..<bucket.pendingRequests.len:
+      if bucket.pendingRequests[index].future == retFuture:
+        bucket.budget += bucket.pendingRequests[index].alreadyConsumed
+        bucket.pendingRequests.delete(index)
+        if index == 0:
+          bucket.manuallyReplenished.fire()
+        break
+  retFuture.cancelCallback = cancellation
+  return retFuture
+
+proc replenish*(bucket: TokenBucket, tokens: int) =
+  ## Add `tokens` to the budget (capped to the bucket capacity)
+  bucket.budget += tokens
+  bucket.update()
+  bucket.manuallyReplenished.fire()
+
+proc new*(
+  T: type[TokenBucket],
+  budgetCap: int,
+  fillDuration: Duration = 1.seconds): T =
+
+  ## Create a TokenBucket
+  T(
+    budget: budgetCap,
+    budgetCap: budgetCap,
+    fillDuration: fillDuration,
+    lastUpdate: Moment.now(),
+    manuallyReplenished: newAsyncEvent()
+  )
diff --git a/tests/testall.nim b/tests/testall.nim
index 021442e..c0713bf 100644
--- a/tests/testall.nim
+++ b/tests/testall.nim
@@ -7,5 +7,8 @@
 #              MIT license (LICENSE-MIT)
 import testmacro, testsync, testsoon, testtime, testfut, testsignal,
        testaddress, testdatagram, teststream, testserver, testbugs, testnet,
-       testasyncstream, testhttpserver, testshttpserver, testhttpclient
+       testasyncstream, testhttpserver, testshttpserver, testhttpclient,
+       testratelimit
+
+# Must be imported last to check for Pending futures
 import testutils
diff --git a/tests/testratelimit.nim b/tests/testratelimit.nim
new file mode 100644
index 0000000..015b5b4
--- /dev/null
+++ b/tests/testratelimit.nim
@@ -0,0 +1,121 @@
+#                Chronos Test Suite
+#            (c) Copyright 2022-Present
+#         Status Research & Development GmbH
+#
+#              Licensed under either of
+#  Apache License, version 2.0, (LICENSE-APACHEv2)
+#              MIT license (LICENSE-MIT)
+
+import unittest
+import ../chronos
+import ../chronos/ratelimit
+
+suite "Token Bucket":
+  test "Sync test":
+    var bucket = TokenBucket.new(1000, 1.milliseconds)
+    check:
+      bucket.tryConsume(800) == true
+      bucket.tryConsume(200) == true
+
+      # Out of budget
+      bucket.tryConsume(100) == false
+    waitFor(sleepAsync(10.milliseconds))
+    check:
+      bucket.tryConsume(800) == true
+      bucket.tryConsume(200) == true
+
+      # Out of budget
+      bucket.tryConsume(100) == false
+
+  test "Async test":
+    var bucket = TokenBucket.new(1000, 1.seconds)
+    check: bucket.tryConsume(1000) == true
+
+    var toWait = newSeq[Future[void]]()
+    for _ in 0..<150:
+      toWait.add(bucket.consume(10))
+
+    let start = Moment.now()
+    waitFor(allFutures(toWait))
+    let duration = Moment.now() - start
+
+    check: duration in 1400.milliseconds .. 1600.milliseconds
+
+  test "Over budget async":
+    var bucket = TokenBucket.new(100, 10.milliseconds)
+    # Consume 10* the budget cap
+    let beforeStart = Moment.now()
+    waitFor(bucket.consume(1000).wait(1.seconds))
+    check Moment.now() - beforeStart in 80.milliseconds .. 120.milliseconds
+
+  test "Sync manual replenish":
+    var bucket = TokenBucket.new(1000, 0.seconds)
+    check:
+      bucket.tryConsume(1000) == true
+      bucket.tryConsume(1000) == false
+    bucket.replenish(2000)
+    check:
+      bucket.tryConsume(1000) == true
+      # replenish is capped to the bucket max
+      bucket.tryConsume(1000) == false
+
+  test "Async manual replenish":
+    var bucket = TokenBucket.new(10 * 150, 0.seconds)
+    check:
+      bucket.tryConsume(10 * 150) == true
+      bucket.tryConsume(1000) == false
+    var toWait = newSeq[Future[void]]()
+    for _ in 0..<150:
+      toWait.add(bucket.consume(10))
+
+    let lastOne = bucket.consume(10)
+
+    # Test cap as well
+    bucket.replenish(1000000)
+    waitFor(allFutures(toWait).wait(10.milliseconds))
+
+    check: not lastOne.finished()
+
+    bucket.replenish(10)
+    waitFor(lastOne.wait(10.milliseconds))
+
+  test "Async cancellation":
+    var bucket = TokenBucket.new(100, 0.seconds)
+    let
+      fut1 = bucket.consume(20)
+      futBlocker = bucket.consume(1000)
+      fut2 = bucket.consume(50)
+
+    waitFor(fut1.wait(10.milliseconds))
+    waitFor(sleepAsync(10.milliseconds))
+    check:
+      futBlocker.finished == false
+      fut2.finished == false
+
+    futBlocker.cancel()
+    waitFor(fut2.wait(10.milliseconds))
+
+  test "Very long replenish":
+    var bucket = TokenBucket.new(7000, 1.hours)
+    check bucket.tryConsume(7000)
+    check bucket.tryConsume(1) == false
+
+    # With this setting, it takes 514 milliseconds
+    # to tick one. Check that we can eventually
+    # consume, even if we update multiple time
+    # before that
+    waitFor(sleepAsync(200.milliseconds))
+    check bucket.tryConsume(1) == false
+    waitFor(sleepAsync(200.milliseconds))
+    check bucket.tryConsume(1) == false
+    waitFor(sleepAsync(200.milliseconds))
+    check bucket.tryConsume(1) == true
+    check bucket.tryConsume(1) == false
+
+  test "Short replenish":
+    var bucket = TokenBucket.new(15000, 1.milliseconds)
+    check bucket.tryConsume(15000)
+    check bucket.tryConsume(1) == false
+
+    waitFor(sleepAsync(1.milliseconds))
+    check bucket.tryConsume(15000) == true