THORChain is a liquidity protocol based on Tendermint & Cosmos-SDK and utilising Threshold Signature Schemes (TSS) to create a marketplace of liquidity for digital assets to be traded in a trustless, permissionless & non-custodial manner. THORChain’s liquidity marketplace design obviates the need for order book exchanges when simply swapping one asset for another and provides ancillary benefits including manipulation resistance & on-chain price feeds. THORChain is able to remain chain-agnostic, favoring no specific asset or blockchain and able to scale without sacrificing security.
THORChain enables users to swap between digital assets on almost any blockchain in a trustless & permissionless setting. Liquidity is provided by liquidity providers who earn fees on swaps, turning their unproductive assets into productive assets in a non-custodial manner. Market prices are maintained through the ratio of assets in pools which can be arbitraged by traders to restore correct market prices.