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. With THORChain, users can swap one asset for another in a permissionless setting, without relying on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool. 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 must commit a minimum of 300k RUNE to participate in its rotating consensus process. THORChain was funded through an initial DEX offering (IDO) launched through the Binance DEX in July 2019. Its single-chain chaos net launched in April 2021, the multi-chain upgrade was launched in April 2021 and Mainnet is now live as of Jun 2022