Cryptopedia - THORChain

## What Is THORChain (RUNE)? 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. THORChain is used as cross-chain infrastructure for wallets, exchanges, and aggregators like Trust Wallet and Ledger Live. 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). The native utility token of the THORChain platform is RUNE. This is used as the base liquidity asset as part of THORChain’s exchange and is also used for platform governance and security as part of THORChain's Sybil resistance mechanisms — [THORChain nodes](https://thorchain.network) commit RUNE to participate in its rotating consensus process, creating economic security for THORChain’s native asset vaults. The value of the bond is always greater than the liquidity on the network. ###When did THORChain launch? THORChain was funded through an initial DEX offering (IDO) which launched through the Binance DEX in July 2019. Its single-chain chaosnet launched in April 2021, the multi-chain Chaosnet upgrade was launched in April 2021 and upgraded to Mainnet in June 2022. [Learn more here](https://academy.binance.com/en/learn-and-earn/course/BN736432188778586113)