THORChain

THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks including Bitcoin and Ethereum without losing full custody of their assets in the process. With THORChain, users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool (see [automated market maker](https://coinmarketcap.com/alexandria/glossary/automated-market-maker-amm#:~:text=An%20automated%20market%20maker%20(AMM,operates%20in%20through%20automated%20trading.)). The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain's Sybil resistance mechanisms — since [THORChain nodes](https://thorchain.network) must commit a minimum of 300k RUNE to participate in its rotating [consensus](https://coinmarketcap.com/alexandria/glossary/consensus) process. THORChain was funded through an initial DEX offering (IDO) which launched through the Binance [DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) in July 2019. Its single-chain chaosnet launched in April 2021, the multi-chain upgrade was launched in April 2021 and Mainnet is now live as of Jun 2022.. [Learn more here](https://academy.binance.com/en/learn-and-earn/course/BN736432188778586113)