THORChain is a Layer-1 blockchain developed using the Cosmos SDK and the Tendermint consensus protocol. It functions as a cross-chain, permissionless decentralized exchange (DEX) using the automated market maker (AMM) model. The network employs Threshold Signature Schemes (TSS) to maintain the security of its decentralized, leaderless asset vault. THORChain utilizes continuous liquidity pools (CLP). These pools provide consistent liquidity to all assets in the network, allowing for asset trading without reliance on centralized third parties. They also function as a source of trustless onchain price feeds and enable arbitrage opportunities.