Among the gods
A giant's son in Asgard
Loki is the son of the giant Fárbauti, yet Snorri counts him among the Æsir, and in the myths he lives with them, travels with ThorGod: Thor. God of thunder, who guards gods and men with his hammer and drinks at their feasts. Lokasenna says why: in the beginning of days he and OdinGod: Odin. One-eyed chief of the gods, lord of war, poetry and the dead mixed their blood, and Odin swore never to drink unless Loki was served as well. Snorri describes him as handsome and fair to look at, evil in character and very changeable in his ways, with a cunning beyond anyone's.
His stories follow a pattern. He gets the gods into trouble, they threaten him, and he gets them out again, usually by changing shape. He cuts off Sif's hair and comes back with the gods' best treasures; he hands Idun to a giant and brings her home as a nut in a falcon's claws; he advises a bad bargain with a giant builder and escapes it by becoming a mare. The gods need him as much as they fear him: without Loki there would be no Mjöllnir, no Gungnir and no Sleipnir.
The father of monsters
Fenrir, the Serpent, Hel and Baldr
With the giantess Angrboda in Jötunheim Loki had three children, and the gods, warned that great harm would come of them, had them brought to Asgard. Odin threw the Serpent into the sea, where it grew until it circled the earth, and sent Hel down to Niflheim to rule over the dead. The wolf Fenrir the gods raised themselves, until he grew too big and they bound him with a fetter made by dwarfs; Týr paid for it with his hand, lost in the wolf's jaws.
Then Loki turns from mischief to murder. In Snorri's telling it is he who learns from Frigg that the mistletoe alone has sworn no oath to spare BaldrGod: Baldr. The shining son of Odin, whose death foretells Ragnarök, and he who puts it into the hand of blind Höd. When Hel offers to release Baldr if everything in the world weeps for him, a giantess named Thökk refuses, and people think, says Snorri, that she was Loki.
Bound until the end
Sigyn, the venom and Ragnarök
The gods caught him at last as a salmon in a waterfall and bound him in a cave, across three stones set on edge, with the guts of his own son. Skadi hung a snake above his face; his wife Sigyn stands beside him holding a bowl under the venom, and when she goes to empty it the drops fall on him and he writhes so hard that the earth shakes. The seeress of Völuspá sees him there:
A captive she saw lying under the grove of hot springs, in shape like harm-loving Loki; there sits Sigyn, taking little joy in her husband.
At Ragnarök he breaks loose. In Völuspá he steers a ship from the east with the host of Muspell; in Snorri he comes with the people of Hel, and he and Heimdall kill each other.
A god without a cult
What scholars make of him
No place is named after Loki, no altar or offering to him is recorded, and his name has no sure etymology. He belongs to the stories, and the stories were written down by Christians more than two centuries after the conversion. Some have seen the Christian devil behind him; Georges Dumézil, in 1948, compared him with Syrdon, the trickster of the Ossetes' Nart legends; Anna Birgitta Rooth, in 1961, looked for a spider of folk tales in him. Carvings show that he was known in the Viking Age: the Danish Snaptun hearthstone shows a face with stitched lips, and the Gosforth Cross in Cumbria appears to show a bound figure and a woman with a bowl.